evergreen16

The Current Market Atmosphere: Easy Money Hard to Come by

People unable to afford homes? If you making the average 50K, it is easy to afford house at $300K (6x earnings). People, just stick your head out of the sand and look around. In western Europe, people with slightly lower income have to pay at least double that for a house. Now in historically poor eastern Europe - people are making on average about 15K, but the houses in smaller towns cost around $300K-$400K (20+x income), and guess what, there are no 5% down payments, people pay 50% down in most cases.
I think we need look around and learn from others, as America has a great potential!