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

To: GraceZ who wrote (54381)	2/21/2006 12:15:29 PM
From: re3	Read Replies (1) \| Respond to of 110194

-how much of the 1.9 trillion is in property ? -and what are people really inheriting ? -how did "row houses" downtown go from being something that newcomers bought and financed from working-man's wages (and left, running away from, when they found out about something called "the suburbs") to valuable yuppie desired dreams worth a half a million a throw ? -have you seen the movie Angela's Ashes ? I wonder what the laneway properties shown in the movie (Limerick, Ireland i think) would be worth today ? -lastly, hmm, there are people who bought homes in lower end working class neighbourhoods. prices went up 15 - 20 x from their original price...these retired people can't really afford a decent apartment upon retirement (except of course that they have their house thankfully to live in) , and people living in apartments can't afford those houses from their own incomes. something doesn't add up here, don't you think ? here's the math on one co-op / soon to be condo i know about...purchase price, you can probably get it for 250K...maintenance/taxes $ 850 a month (they have a pool, not much else amenities wise)...or you can rent it for $ 1350...sure, the owner probably paid 1/4 of the price, but as an investment to a newbie now, this is slightly better than 2 % return... something doesn't add up here, don't you think ? oops i already said that, back to olympic hockey -g-