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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (115218)	7/6/2012 12:13:26 AM
From: John Vosilla	Respond to of 116555

His 1 year annual gross wages matched the cost of the home. These days there are many parts of the country where household income come close to what they can buy a home for. Plus interest rates are lowest on record, you can borrow with little down plus PITI is way below rent. We haven't seen that since the 1960's. You are overpriced if over 3 times income in your market but if you were higher prebubble then don't expect it to fall to Atlanta or much of FL or TX or much of midwest pricing anytime soon. Funny on the new RE board Tejek thinks homes in high priced desireable parts of CA are a buy now on the extreme end of quite rational optimism since history does repeat..