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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: GraceZ who wrote (8888)2/14/2003 1:20:45 PM
From: Wyätt GwyönRead Replies (2) of 306849
 
that doesn't really have an effect on non-farm housing. if you look at city housing now vs. the 1950s, you basically have two wage earners now vs. one then. same housing "affordability".

i look at all the people in my neighborhood under 50 and both spouses work. maybe the wife takes a bit of time off when a baby comes along. but basically, they can't afford to live on one salary.

if houses were as cheap as the 50s, they could all have two houses.

but worth pointing out is that houses are now much more expensive for a cash buyer than when interest rates were higher. this problem will be corrected as real estate prices fall or inflation rises--either way causing real cash value to go down.
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