Posted on 06/21/2005 9:42:59 AM PDT by ambrose
heh
I live in the WashDC/Baltimore area ( I appreciate your condolences)...the real estate market here is exploding but it really isn't irrational at all, it is very market driven.
I live in a townhouse in the suburbs...and people moving into the area can't afford the 400k single family homes, so they buy nice townhomes for 395k...the people buying the standard single family homes, are willing to pay that price due to supply and demand in the real estate market in this area....me I'm cashing in and moving to a low cost small town. It's a great opportunity for myself and my family to get a great standard of living and get out of the ratrace...several others where I work are doing the same thing, moving the Research Triangle in NC, York, Pa, Pittsburg, Pa, Charlotte, NC.
We already know how to get oil from coal and from what I've read it's economical somewhere in the $50/barrel range. No energy company is currently making the investment to build these plants, which should tell you something about where they think prices will head.
Go here or search on coal gassification or liquification to get info on it.
That's chicken little talk. The generation after the Depression had some of the best prosperity the world has ever seen.
I've been through a few booms and busts in my short time on earth. What I can tell you is that people: (1) Generally don't learn from their mistakes and (2) Rarely see more than a few months down the road.
The best bubble indicator, per the Economist, is a wide divergence between the monthly cost to rent a place and the monthly cost to purchase it.
It has to wait til I sell and move in 2 years!
Run some of these illegals out of California and housing prices will fall
Yes, the technology has been around since the war.
But until we have a decade of oil at $50 a barrel, investment in alternate fuels will remain miniscule.
Pics of Usonian Homes!
I figured out the resistance to the housing market bulls -- it's the word "pop." The phenom makes more sense to them when phrased as "sudden decline."
I'm renting a 1400 square foot apartment - 3 beds and 2 baths, in a relatively new apartment complex - for $850 a month here in west Georgia. Why on earth should *anybody* buy with prices the way they are?
"It's the land, not the house, that is so expensive."
Ding, ding, ding, we have a winner!
We can thank the environazis for the price of land in these land restricted places. If the market were able to work freely, we would have affordable housing available to all economic levels. As long as the environazis control the use of the land in these areas, there won't be a "pop".
Are you near any major city?
...because in NYC the same apartment would rent for $8,000 to $10,000?
FLW just rolled over...
I'm in a city of 200k or so, about an hour south of Atlanta, GA.
"Early in life I had to choose between honest arrogance and hypocritical humility. I chose the former and have seen no reason to change" -- flw
Riverside County is growing like crazy. The land is much cheaper, and the people I know moving there have very nice houses.
Holy crap. $850 for 1400 sq foot apartment... hour from Atlanta.
Of course, the weather sucks in Georgia.
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