Tuesday, September 20, 2005

Out of Control

The housing market is completely out of control. I was looking around for houses tonight and was extremely discouraged. Only barely decent places were about $400 a square foot. That's just retarded.

This can't keep going the way it is. It's just madness. I can't wait for a natural disaster to smack the housing market upside the head and put it back in line. Who is buying these houses? Who is paying $500k for a dinky little house in the middle of the San Francisco suburbs?

*sigh* Breathe, it will all be okay.

-s

2 comments:

  1. Yes, I agree.
    The housing market will certainly go down, and now is not the best time to buy.
    Here's my advice: Save like a dickens, for the next two-three years, then when inflationary pressure kicks in, and interest rates go up (through the roof?), you'll have alot of cash, and will be ready to eat others' lunch by investing either in real estate, or capitalizing on the interest rates for fixed income notes.

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  2. agreed. there is also the long term approach that many baby boomers now own a house bigger than they will need at retirement. in fact, many own two. when they can't afford heating costs on their income once social security is killed in 15-20 years, they could well be a glut of houses in the market. america, after all, is a pretty big place. travel 15 miles outside new york and you'll start to see greenery. its not like london, where there is no free land for dozens of miles*.

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