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Originally posted by Kuciwalker
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Mortgage lenders have been too willing to hand out money...if interest rates go up the housing market will collapse due to the number of repossessions...Speaking of Erith:
"It's not twinned with anywhere, but it does have a suicide pact with Dagenham" - Linda Smith -
For now.There are plenty of older people with the cash.Scouse Git (2) La Fayette Adam Smith Solomwi and Loinburger will not be forgotten.
"Remember the night we broke the windows in this old house? This is what I wished for..."
2015 APOLYTON FANTASY FOOTBALL CHAMPION!Comment
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Nah, move out to the burbs and commute.Either that or you will spend your entire life as a renter never earning equity.
Eventually the prices will have to drop with respect to wages.
Unless, of course, what happens here is what happened to Whistler. The people who buy all the houses never live in them, while the people who actually work there have to commute in to work everyday, because they can't afford to live in Whistler.Scouse Git (2) La Fayette Adam Smith Solomwi and Loinburger will not be forgotten.
"Remember the night we broke the windows in this old house? This is what I wished for..."
2015 APOLYTON FANTASY FOOTBALL CHAMPION!Comment
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Later, there will be plenty of younger people with these oldbies' cash, or housesOriginally posted by Ben Kenobi
For now.
"I have been reading up on the universe and have come to the conclusion that the universe is a good thing." -- Dissident
"I never had the need to have a boner." -- Dissident
"I have never cut off my penis when I was upset over a girl." -- DisComment
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Then the prices are well out of range then. At 800K, the house should be rented at 8000 a month, which is way too high.Traditionally, houses have sold for 100 times the monthly rental. Prices in L.A. are up to about 400 times the monthly rental.
You could probably do it for about 2000 a month, but that means our prices are about as high then as in LA.Scouse Git (2) La Fayette Adam Smith Solomwi and Loinburger will not be forgotten.
"Remember the night we broke the windows in this old house? This is what I wished for..."
2015 APOLYTON FANTASY FOOTBALL CHAMPION!Comment
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It's crazy. The house I used to live in as a tenent had an interesting situation.
Even given a double income family, with no kids, they still need to rent out the basement suite at 1K/month just to make their payments.
And that's with the low interest rates.Scouse Git (2) La Fayette Adam Smith Solomwi and Loinburger will not be forgotten.
"Remember the night we broke the windows in this old house? This is what I wished for..."
2015 APOLYTON FANTASY FOOTBALL CHAMPION!Comment
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Unless the average salary there is only half of that in California (and I have a hard time believing that), I'd say you just used to have really cheap housing and are now entering normalcy. The average house price nationwide is around $270,000.Originally posted by Dissident
yeah well. Our housing prices have nearly tripled, but our wages haven't. we make less money than the rest of the country (except the south)Visit First Cultural Industries
There are reasons why I believe mankind should live in cities and let nature reclaim all the villages with the exception of a few we keep on display as horrific reminders of rural life.-Starchild
Meat eating and the dominance and force projected over animals that is acompanies it is a gateway or parallel to other prejudiced beliefs such as classism, misogyny, and even racism. -General LuddComment
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if you factor in illegal immigrants, I'm sure our salaries are half that of Southern California.Comment
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I'm sure there are plenty of underpaid illegal immigrants in SoCal as wellOriginally posted by Dissident
if you factor in illegal immigrants, I'm sure our salaries are half that of Southern California.
"I have been reading up on the universe and have come to the conclusion that the universe is a good thing." -- Dissident
"I never had the need to have a boner." -- Dissident
"I have never cut off my penis when I was upset over a girl." -- DisComment
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But in SoCal we have other people too.Originally posted by Spiffor
I'm sure there are plenty of underpaid illegal immigrants in SoCal as well
I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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There is an opinion that the housing starts were so low because the weather was unusually cool for this time of year.
This might have some merit.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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I'm suprised that housing starts didn't start to decline more sooner though.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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I'll start getting sanguine about the economy when long term bond rates start going up more. I think a lot of people think that higher oil prices and interest rates are going to have a dampening effect and not even be very inflationary.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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I figured you'd get more sanguine about the economy when you graduated and got a job. Getting a job appears to be Che's benchmark (and it's one that makes a lot of sense).“It is no use trying to 'see through' first principles. If you see through everything, then everything is transparent. But a wholly transparent world is an invisible world. To 'see through' all things is the same as not to see.”
― C.S. Lewis, The Abolition of ManComment
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What's a start?"Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before. He is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. "
-BokononComment
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