The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Tradelite who wrote (27957)	3/10/2005 9:18:30 AM
From: Les H	Read Replies (2) of 306849

[quote]that a $255K house at today's interest rates is a heck of a lot more affordable than it used to be.[/quote] You got far more house for $ 255K five years or ten years ago. The cost of credit is less and the purchasing power of the cash is much less. I could've bought a nice single family home with about 1/2 acre in the Washington area back in the mid 90s. It's obviously a far more substantial house if you're talking about the 70s. You could've obtained a rental for about a 1/4th to 1/3rd of the monthly payment that you paid.

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