Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
The two go hand-in-hand.  As the rates rise, it'll push the prices down more.  We're going to be looking at 50% drops in my area.

Fortunately, I have no intention of staying here any longer than I have to, and the only areas I'd like to buy in here are beyond the means of all but the highest-ranking government employees (with two incomes).  Living in the DC area has certainly given me an appreciation for the purchasing power of the other cities I've lived in and spent time in.  Christ, my apartment in Tallahassee was twice as nice (and better built), twice the size, and went for half the rent of what I've got now.  Buying a house there would cost me about one-third of what it would cost here.  Ditto ATL, except that the houses would cost about half what they cost here.  Even South Florida looks dirt-cheap now.

Honestly, I'd rather rent than fork over $300k for some dumpy condo in a God-awful neighborhood.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Mon Mar 17th, 2008 at 12:38:11 PM EST
[ Parent ]
Indeed they do go hand in hand.

People don't get this enough. A home owned is like a long bond owned. The price is simply an expression of the yield, with the yield being notated, primarily, by the 30-year fixed rates.

A lot of people are going to be thinking a lot differently of their financial situation two years from now.

And if you are not going to be able to sit tight for the next 7 years at least, and possible more, there's no reason to buy.

But if you must buy, please consider buying my home. It really is a nice home.

The Hun is always either at your throat or at your feet. Winston Churchill

by r------ on Mon Mar 17th, 2008 at 12:44:24 PM EST
[ Parent ]


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