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re: Drudge linked, Economist on housing bubble: We never left the bubble, its bubble inception
Posted on 1/22/18 at 10:03 am to Redleg Guy
Posted on 1/22/18 at 10:03 am to Redleg Guy
People are overvaluing and overpaying for homes. I look at a lot of these prices and wonder how so many can afford such high prices.
In short, they can't. Something has to give.
In short, they can't. Something has to give.
4
Posted on 1/22/18 at 10:08 am to boogiewoogie1978
quote:
People are overvaluing and overpaying for homes. I look at a lot of these prices and wonder how so many can afford such high prices. In short, they can't. Something has to give.
Me and the wife bought our 1st new home in 1991 for $67k, that house today would be over 120k for a resale, over 130 new.
Posted on 1/22/18 at 10:10 am to boogiewoogie1978
Interest rates are part of the problem.
The other problem is that the bailout of banks kept the market from correcting properly, as people shite themselves over the idea of so many foreclosure houses hitting the market in a short period because it would depress home values across the board.
The other problem is that the bailout of banks kept the market from correcting properly, as people shite themselves over the idea of so many foreclosure houses hitting the market in a short period because it would depress home values across the board.
Posted on 1/22/18 at 10:19 am to boogiewoogie1978
quote:
In short, they can't. Something has to give.
Stop putting people on ARM's that can't afford to be on ARM's That and buying POS houses that are barely worth half of what they paid for them.
Posted on 1/22/18 at 4:40 pm to boogiewoogie1978
quote:Over-valuing? Um... maybe a little. Maybe. People buying more than they should? Maybe that, too.
People are overvaluing and overpaying for homes. I look at a lot of these prices and wonder how so many can afford such high prices.
In short, they can't. Something has to give.
A good part of the problem is not the home builder. It's the tax assessors raising values of land and homes to get that tax money up, up, up.
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