Real Estate prices in the rest of the country are still sound. After just returning from Westchester County, New York, where I grew up as a boy, I was amazed at what prices had become during my absence. In my own opinion are prices on the east and west coast outrageous, of course, will they collapse, not likely, will they keep rising, possibly, could they fall, of course. Why has a common house become so highly valued, its the "american dream". People who bought anything years ago, and paid there mortgages off, are in great shape financially, will people of this greneration also be rewarded, who knows. A home is exactly what my father, and what I stressed to my children exactly what it is, a place to live, to raise a family, and thanks to american tax laws a great place to accumulate a nest egg. There are no guarantees, housing prices in the rest of the country are manageable, here in Chattanooga ,Tn. a three bedroom home with 3/4 of acre, in a nice area, built in the last ten years will only cost you $ 200,000, and thats on the high side. There are many places here in the south and the midwest where prices are reasonable. Would I trade my lifestyle for what I percieve to be a better one on the east coast, never, I get a good value for my money where I am.
It was like some stocks back in the late ninties, were they really worth $100. 200. or 300. share, definitely not, did people pay the price, they sure did, when the market corrected did they keep there value, nope. It is the same with anything that we associate value and worth with, only time will tell, as for me, I enjoy my home for what it is, a home, a place for my stuff, for my children to visit, and a place that gives me enjoyment, as a place to make money, no way. Its just a place that assures me some value for the money I have earned over my lifetime, its unfortunate speculators have taken over certain markets, because owning a home has now become even harder for the families that really would like one. Thats just my opinion, by the way for those who have known me over the years, my lung cancer is in check, almost 18 months since my lung was removed, and its really nice to be alive and have this home to complete my recovery. Zab
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