[This message has been edited by Puckhead (edited 03-07-2008).]

You guys on the coasts should expect that. there is only so much room to build before you go inland. here in the midwest there are no physical boundries but your commute to work may take hours. a lot of it has to do with the right burb, schools, access to hwys, etc. the only houses that bring that kinda money around here are little mansions. there's a row (well a couple miles) of houses in lee's summit that are just crazy. eight bebrooms, iron fences, seperate 4 car garages, etc. I think a lot of the royals and chiefs players live out there. when i drive by i throw my trash onto their yards.

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“If I had asked people what they wanted, they would have said faster horses.” -Henry Ford

quote Originally posted by Puckhead: I'm certainly no economist.

Did someone say economist!?
Mike, the unemployed economist, Valentine

[This message has been edited by mrfiero (edited 03-07-2008).]

quote Originally posted by sostock: You guys on the coasts should expect that. there is only so much room to build before you go inland.

That's part of the problem. However, the biggest problem by far is all the immigration to the area, from both Asia and from within Canada. There's too many freaking people here now.

I love the west coast (born and bred in Vancouver), but I'm thinking I'm going to have to at least get out of Vancouver city itself in the next few years to retain my sanity. Fortunately it's a big province, so there's plenty of towns along our beautiful coastline to investigate for possible relocation. Property prices will be lower elsewhere, so I should come out ahead financially if I can actually be sufficiently motivated to up and move away from here.

[This message has been edited by Patrick (edited 03-07-2008).]

quote Originally posted by aceman: How was it your only option? You couldn't find a 3 bedroom house to rent?

Have you even looked at what the recent rents are for a 3 bedroom house lately?

My oldest daughter called last year saying they were behind on their rent, RENT on an apartment in arm pit Worcester, MA. Start, ya that’s right start at $750 a month, average is $1,000 a month for an apartment.

So buying is cheaper, if you can get in.

quote Originally posted by aceman: Why would you have 4 and then 5 kids if you really couldn't afford them in the first place? Hey I can see one and then an Oops! But 5 kids????

What business is it of yours if he has 2, 5 or a dozen kids. Who made you the newest official of the population growth police?

quote Originally posted by aceman: You knew you probably couldn't afford it in a couple years and you still took out the loan? (Hello!!!!! Like telling a kid the stove is hot and they still have to put their finger on it and get burned.)

Because all those people who have the education, like Toddster tell people that they can afford it, then after a year or two can turn it over for more than they paid for it. Just look at his own threads on buying a home. That is what he has said. Housing prices can only increase, they will never go down, at least that is what Toddster said.

quote Originally posted by Toddster: The boom in Real Estate investment was almost unheard of! In parts of the country equity gains (which averaged 3% nationally) were leaping to 20% or more per year! Home literally doubled in value in 4-5 years or less in some areas. Anyway, I digress. The housing market is primed to maintain a healthy if more moderate growth. Beleive it or not, the median price of homes in the Bay Area rose 6.1% last year. Everybody I talk to tells me they are waiting to see how much lower prices will go. I look at them in disbelief because they believe what they read in the Newspapers. Yes, it is true that a handful of people fire sold their houses. this is normal in ANY market. It just goes unnoticed for the most part during boom times. During uncertain times people focus more and more on the doom and gloom stories and before you know it, your self fulfilling prophecy is revealed. I could mention a little skirmish in the Middle East as a perfect example of bad press creating a bad situation but ... The fact is that interest rates are low, housing starts are down, immigration is at record levels, jobs are up with a record low unemployment rate, Corporate investment is at staggering levels, and the market for American goods is growing Internationally. We are seeing more foreclosures on homes that were 100% financed but other than that, equity gains are still better than average and as soon as people stop beleiving the press and take a look at the fact that houses are NOT getting cheaper, loan rates are NOT going lower, their job security has NEVER been better, and housing as an investment is STILL the best deal around, they will start buying again. I am seeing it already. People that had shunned the housing market in droves for the past 4 months are now ringing the phone off the hook. Are we going to return to the glory years of 2000-2005? Not likely..I wouldn't want it for the sake of our country. But healthy gains are inevitable and those with the patience to sit back and let the panic sticken masses crash and burn will do quite well for themselves. Now that is all on a national level, while some areas are growing, others are falling back. New England is a little worse for wear when it comes to the middle class. With all due respect, the political environment is not freindly to business and if business does not move to New England, jobs will dry up. When that happens you will have a true class war on your hands with only the Uber rich and the huddled masses to point to. A healthy thrifty working class is the product of good harmony with business. And a healthy housing market is dependent on both. I haven't looked at the NAR economic numbers for New England and don't want to pay to see them so all I can say is find a good Realtor in your area who has a clue and ask what they can gleen from the data. But as a grand overview of the national data, I'm not worried for America.

He has an education, right?

He knows more than everyone else, right?

Lets just buy that home we can’t afford and sell it in 2 years for more than what we owe because that is what the educated men told us we could do.

The banks wrote the loans, right?
So who is more at fault?
The people with all the education in the places of authority?

Or the people who listened to all those people with all that education who told them to buy?

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