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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: J. P. who wrote (10888)6/1/2003 9:56:14 AM
From: John ChenRespond to of 306849
 
J.P,re:"what's wrong with this picture?". Most bachelors
are 'millionaires', by crook or by hook, according to
hollywood.



To: J. P. who wrote (10888)6/1/2003 1:27:06 PM
From: Lizzie TudorRead Replies (4) | Respond to of 306849
 
I have the same thoughts about this real estate market. $150K is an income near the top 5% to 10%

In some areas of the country like California there is something of an ethnic influence going on. Whole families are saving money and buying houses. These folks are outstanding savers, better than most americans. It is the savings rate that is so poor in the USA, not the income. I think we need to assume that many of these houses were purchased with huge $$ down.



To: J. P. who wrote (10888)6/1/2003 9:06:30 PM
From: fattyRead Replies (1) | Respond to of 306849
 
>Especially when some of the people living in these homes have relatively modest incomes, and originally bought in the area because it was modest and affordable.

That's very true! Now these people can also cash out on their home thru re-fi. I'm not sure why this is the way our economy rewards people. I'd think that economic reward is based on productivity!


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