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: J. P. who wrote (67540)	11/29/2006 4:09:58 PM
From: Think4Yourself	Read Replies (1) of 306849

"I'd say that nice houses are pretty much inhabited by people making good money" Sounds logical but it just ain't so, unless you are talking million dollar homes as "nice". I know lots of people living way beyond their means. Many doctors and lawyers surely have nice houses, but they may be living next door to factory line workers, postal workers, and teachers. Anyone with a fairly decent job can own a nice home these days. "House prices are out of whack so that most people in the lower and middle spectrum couldn't realistically afford their own house." That affordability part was true before 2001 but is not the case at this point in time. My neighbor's kid, a 21 year old high school dropout, owns a nice home. His 20 year old girlfriend owns a luxury condo. ANYONE can get a loan these days. The only requirement is that you are breathing, and I hear they are planning on removing that requirement as well :) "If you understood the Chicago area you may know what I was talking about." I used to live at Bryn Mawr and Lakeshore, a few blocks from the black glass twin skyscraper, but confess that was quite a few years back.

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