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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Bonefish who wrote (46099)12/27/2005 12:45:31 PM
From: kikogreyRead Replies (5) of 306849
 
Those that have been renting, saving, living on a boat, been out of the country for the last few years, taking care of sick relatives or simply saving for a first home have been screwed over royally Let me add another category: those studying for advanced degrees. I'm in So. California so here's a typical scenario: let's say in 2000 you bought a $200,000 house or decided to go to medical school. If you bought the $200,000 house you would be up about $3 or $400,000. If you went to medical school you would be in debt about $200,000 and still in school. In 10-20 years would you like or expect to see an MD if you get sick or in an accident? Maybe an in-patient pharmacist might be a good idea. What if your child or grandchild needs a speech-pathologist? There are many professions that take 8-10 years or more past high school. You get the picture, those who are investing in doing something worthwhile for themselves and the world have at least for the present gotten screwed due to this run-up in real estate. How does it benefit society to have families who need homes living in run-down apartments while middle-aged flippers own property no one lives in? How does it strengthen the United States to have money generated directly or indirectly to a real estate ponzi scheme? Meanwhile our infrastructure deteriorates, our citizens have no health care plan and many if not most of our decent paying jobs have been outsourced. Heck, Los Angeles even lacks mass transit to our airport!
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