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9 Comments
Housing: Did We Learn Nothing from the Dotcom Bust?
Also, ReEconomist, it is cheaper to rent than own/purchase. Are you not paying attention? Here is a neat trick, take the rent you pay or the rental listings and multiply them by 150. If they are above what house prices are going for, it is a bad time to buy that house because it will cost you more (fees, taxes, insurance, etc.s) than it would to rent.
California Home Sales: 43% Year Over Year Increase!
A Quick Review of I.O.U.S.A.
People--this is just like cancer, it is a "symptom" of poor values and ideals, bad government leadership and capital greed. You can only fix the indicator by noticing the problems.
It is left or right wing, it is WRONG wing, both parties hold responsibility, and whether you fancy yourself the right wing "absolutionist&qu... or left wing "liberal", there are certain things about living the "American Dream" that have propagated into our life styles and our over-all expectations that need to change. We all complain about "what about our children", but what about NOW?
As for the medicare/medicaid comment, looking at the numbers on the government sites are very telling. Most healthcare facilities work in the red. They are expected (some by law) to serve everyone, despite ability to pay. When we expect oil companies to give gas to everyone despite their ability to pay, or food or any other BUSINESS SERVICE to give their service away to indigents or people who can't pay for it, let me know. It seems that the laws in this regard alone provolk a little "anti-PC" talk here. This is another reason why healthcare in America will -NEVER-, I reapeat, NEVER become a functioning socialized entity. Clinton failed, and she then was bought by the very companies she went after, because she probably had the same epiphany after looking at the system with a microscope. It is broken also, just like our deregulated banking system (thanks Regan).
Some Real Talk on Housing
The number is 3X income, not 4. For fundamentals, at least.
2002 prices were the upswing of the bubble. Still too high for most of us. Not to mention I've read elsewhere that there will be a "plateau" that everyone thinks is the bottom, but is a false bottom. You will probably (painfully, it appears) see a couple of false bottoms before things get any better.
As for the 15 year cycle of the CA housing market, this isn't part of that cycle. This was a gigantic bubble comparable to nothing else. This isn't just affecting CA, as you've probably read. Your theory that a quick rebound to the impossible prices seems unrealistic to the "average potential buyer". When I read "this is normal" comments I can't help but think "you just don't 'get it'".
Why the 2008 Housing Relief Bill is No Relief
But how DARE you make the rest of us try to feel bad that you should keep your HOUSE. A lot of people like to call them "HOMES", but what they really are are HOUSES. 'Home is where the heart is' but HOUSES are for sale. Walk away and save yourself the ranting grief in public comment pages. Spare us the rant of your rather sad and disparaging life and look at this from the point of view of the person on the street who may not have a "good money" job who will wind up paying for big mistakes by other people through a government that no longer represents them, but represents the big conglomerates.
You'll be lucky if this bail out helps you, but remember, you're just as bad as the coke head because you too are stepping on other Americans, just the way he did to you. Feh.
ARM Resets to Hit the Fan in 2008 - WSJ
Housing Bust Turns Real Estate Appraisals Upside Down
Unemployed real estate appraiser: A person who refuses to lie for a fee.
Housing Bust Turns Real Estate Appraisals Upside Down
Think Housing's Bad? You Ain't Seen Nothing Yet