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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: anachronist who wrote (38240)	8/9/2005 4:57:24 PM
From: carranza2	Read Replies (2) \| Respond to of 110194

I really hate to get into the inter-genrational conflict here, Then don't. but God, that is such short sighted boomer talk. Being "priced out" is a myth that boomers have developed in affluent areas to explain away the massive asset inflation that has been going on. Ever lived under those circumstances? Someone close to me has, and is the poster child for what Ramsey describes. Has lived in Aspen for lifestyle reasons for, jeez, I don't know how long. Decades. Could have bought house years ago, and could have become multimillionaire simply on RE....but no....there was always a nagging doubt that Aspen was just "too high" as late as early 80s. Consequently, missed out and is doing best to find affordable rental property in Basalt. Similarly, lots of folks in Marin County bought early yet could not possibly afford to buy now. I know a few. That's exactly what I think Ramsey was talking about, and it has nothing to do with boomer or X or any other BS. It's all got to do with economics and the fact that RE in desirable places will always be at a premium. If you want to make a life style commitment, get in or be left behind because no one is making any new land. Do you really expect me to believe that home prices rise independent of income? You haven't been watching it happen for a few years?