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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: MSI who wrote (4587)8/21/2002 11:27:02 AM
From: GraceZRead Replies (4) of 306849
 
where the average wage increased relative to cost of living, and a single average wage earner could buy a house for a family.

Its a chicken egg thing. If there was only one wage earner then housing prices would be lower. People would be forced to move to cheaper locations putting less upward price pressure on housing in high demand areas. Two income households allowed people to pay more for their houses. Aside from that I know plenty of single earner families with houses.....just less expensive houses.

In the desire to acquire, what is terrible is that people have completely lost track of the "home" aspect of a house. How many people would be better off working less and spending more time in their homes, more time with their children? How many kids will grow up and remember Mom's great granite counters or Sub Zero fridge? Frankly they'd be better off remembering a long summer night spent out on the lawn with home cooked food, friends and family, telling stories, singing songs, catching fire flies. People stock up their houses with all this crap because they are trying to fill up the hole left by not having time and they don't have time because they have all this stuff they think they have to have. Its a vicious cycle.
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