SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Residential Real Estate Crash Index
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Tradelite who wrote (67426)11/28/2006 5:12:08 PM
From: J. P.Read Replies (1) of 306849
 
I agree, but most people need the ARMS as a second mortgage to pay the down payment since they don't have any money.

Decent suburban starter houses in the Chicago area are realistically about 350K. Less than that and you are going to get a real small, real bad house far from the jobs.

OK, so a young couple wants to buy it, they need 70K and then about $2300/month or so for mortgage payments. That's a lot of dough for most people, and their average paying jobs won't cut it. That's what I mean by affordability. It's been missing from the conversation, but I know it's real. As long as rates stay low, the easy financing can keep the issue under wraps.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News