Real Estate Bubble

[split710]

BUDDIEE18, this from another board which I think sums it up quite well...........


"a little word about housing? It's ovepriced!
If you can't pay the mortgage with 40% of your net income, it's overpriced!
If the overhead and taxes run you into the ground and you have no money for groceries, car payments, insurance, etc, it's ovepriced!
If you can't buy it, rent it out, and break even at the very least, it's overpriced!

This is imbalance! The American exists for the rich, so the average Joe can contribute to the fund via huge interest payments over the length of any mortgage. In today's uncertain work climate, it's overpriced!

Real estate needs a real kick in the arse, down to proper affordable levels according to WAGES, not according to RATES and TERMS."