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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
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