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

To: daffodil who wrote (25511)	11/30/2004 9:26:51 AM
From: AD	Respond to of 306849

thanks, well done daff. UK housing ... rics.org

To: daffodil who wrote (25511)	11/30/2004 12:03:09 PM
From: Tradelite	Respond to of 306849

<<And why would a young couple spend that kind of money ($500,000 at 5% is $2,083 per month) Holy cow. That's cheap. Average price for a 2BR apartment rental in Wash DC area is $1100. That monthly payment is almost just a tiny amount more than I paid every month for 20+ years. It seems that one has to actually BE in the real estate market to have any perspective about prices, particularly from a historical standpoint.

To: daffodil who wrote (25511)	11/30/2004 1:11:14 PM
From: GraceZ	Read Replies (1) \| Respond to of 306849

And why would a young couple spend that kind of money ($500,000 at 5% is $2,083 per month--that's being generous and assuming that they have the $ for a downpayment) plus $1,000 - $2,000 per month to heat the place in the cold belt, plus the $$$ to furnish the place, clean it, landscape it) in an undesirable community (translation: poor school system and 45-60 minutes away from the city) when, for just about the same price, they could get a decent home--smaller, but also less expensive to heat and maintain) in a very desirable community (excellent school system, 15-30 minutes from the city)? Nothing but this kind of house going up in my area but then I'm only 35 minutes from the city (as long as you mind the radar) and 15 minutes away from the industrial satellite town (we took our jobs with us when we left) where most of these people work. There is an incredible demand for the 5000-8000 square foot house here. I drive around with my sister in the car and the whole time she says over and over, "Where are people getting all this f----ing money?"