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re: Current housing surge vs. last decade's housing surge
Posted on 7/21/14 at 1:26 pm to GFunk
Posted on 7/21/14 at 1:26 pm to GFunk
quote:
We live in a different lending universe today.
This is what I understood as well, I just don't know a lot of the details about that other than it is harder to get a loan.
quote:
Just a quick search shows that the median household income is around $65,000 in Seattle. So do you think a median single family home price of $430,000 is sustainable? Do you think there is much room for values to keep climbing in the near future? I don't.
This is where my logic takes me. I don't understand how people are affording these homes based on what reported income is. It seems to me like it's almost at the point where it just can't get any higher because people just flat out can't afford them.
1
Posted on 7/21/14 at 1:46 pm to TDawg1313
I don't know how the high end is doing in NOVA and honestly I don't know how to define the high end here.
My neighbor sold in 1 day with 3 offers in early May. Our neighborhood is under a million so it's definitely not high end for this area.
My neighbor sold in 1 day with 3 offers in early May. Our neighborhood is under a million so it's definitely not high end for this area.
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