Article

2008-08-21 Home Front Economy

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Fred 2008-08-21 00:00|| || Front Page|| [1 views ] Top

#1 Yes, but the problem is, so few are taking advantage of the opportunity!

Perhaps that's because they can't sell what they have, to move up.

Posted by Bobby 2008-08-21 06:01|| 2008-08-21 06:01|| Front Page Top

#2 ...I'm trying to figure out why (Fill In The Blank) is always listed as "the nation's most affordable region" - c'mon down here to central SC, where prices have been in freefall for a couple years now. As soon as I meet my employment requirements for a VA loan, I'll be able to pick up a couple of acres with a 1700 sq.ft house on it for about $750/month.

Mike

Posted by Mike Kozlowski 2008-08-21 07:05|| 2008-08-21 07:05|| Front Page Top

#3 Good luck, Mike. That sounds grand.

Posted by trailing wife ">trailing wife 2008-08-21 08:00|| 2008-08-21 08:00|| Front Page Top

#4 U.S. median income - $61,500

Median Income in Indianapolis- $65,100
Median Income in New York- $63,000

Median Home price in Indy- $108,000
Median Home price in N.Y.- $481,000

Those numbers tell a sad story indeed for N.Y.
I had several classmates in C.E. that got jobs in Indy before graduation. The economy there must actually be built on something real.

Posted by bigjim-ky 2008-08-21 08:14|| 2008-08-21 08:14|| Front Page Top

#5 Yep, House price inflation is NOT good for the economy.

Posted by Bright Pebbles 2008-08-21 09:02|| 2008-08-21 09:02|| Front Page Top

#6 We sold and bought last year just as the housing market started its collapse. Fortunately we found a good buyer for our old home.

We took a beating on selling our house; we figure we got ~ $70K less than we could have the previous year (good Chicago suburb).

Then again, the house we bought was also ~$70K less than it would have sold for the previous year.

So if you're selling and buying, the issue is the split between the two (as usual). The people I feel for are the ones who have to sell for one reason or another and who aren't buying another home. They're the ones taking a beating.

Posted by Steve White 2008-08-21 09:31|| 2008-08-21 09:31|| Front Page Top

#7 If there's no limit on how many Mikes they'll accept, I might have to join Mike in the Carolinas!

Posted by Mike N. 2008-08-21 12:51|| 2008-08-21 12:51|| Front Page Top

23:57 Waldemar Uneack9263
23:55 Swamp Blondie in the Cornfields
23:54 GDLotA9226
23:49 Waldemar Uneack9263
23:45 JosephMendiola
23:35 JosephMendiola
23:32 JosephMendiola
23:31 JosephMendiola
23:28 Red Dawg
23:27 Woodrow Phaviper9249
23:25 JosephMendiola
23:23 SteveS
23:18 trailing wife
23:17 Steve White
23:12 trailing wife
23:09 newc
22:43 SteveS
22:37 Alaska Paul
22:36 trailing wife
22:31 Pappy
22:26 Alaska Paul
22:24 Iblis
22:20 Barbara Skolaut
22:16 3dc