| RobSTL
Follow
Befriend (2)
1 threads
52 comments
Followed by 0
Following 0
Ignored by 0
Ignoring 0
Ignore RobSTL
Aliases
In United States
Registered Oct 09, 2010
|
RobSTL's most recent comments:
- On 18 Dec 2011
in
Ten myths about housing prices in the USA,
RobSTL said:
Like I said 6 months ago, I am too busy with my work and life to be spending a lot of time on this blog. It has now been about 7 months since I posted this, so wanted to post just to bring this back to life.
So finally, there is some awakening in the USA and the rest of the world regarding China's ABSURD bubble. India's even more ABSURD bubble is still not well understood, so many more decades before they pop. Meanwhile, good old USA's unbelievably cheap housing continues to get cheaper. No end in sight in economic malaise...death spiral continues...
Year 2050....American median single family home price is down to USD 50000.00 in nominal value. USA median household income is down to $25,000.00. Some bloggers are still complaining about how unaffordable USA housing remains with the house to income multiple being 2. Meanwhile, in the same year 2050, India/China median household income is also now at $25,000.00, but their median small home price is now up to USD 5 million, retaining their historical house to income multiple of 200. - On 5 Jun 2011
in
Ten myths about housing prices in the USA,
RobSTL said:
FredEx says
- and so much more that goes into being a buyer’s agent.
I think it is fundamentally flawed when the buyer's agent gets a percent of the home sale price as his/her commission. The higher the price, the better it is for the buyer's agent, while it is bad for the buyer. I have no respect for the profession with that kind of vested interest built into the game. - On 1 Jun 2011
in
Ten myths about housing prices in the USA,
RobSTL said:
pkowen says
Definition of a ponzi scheme = empty apartment appreciating by double-figures every year, forever. Never ending appreciation without any rents tied to it. These magical condos will just get more and more valuable! Just sit on them! Buy now or be priced out forever (etc.)!! And yet, one can rent them for a tiny fraction of the carrying costs.
Yep, I totally agree with you that it is the greatest ponzi scheme in the history of the world. And yet it has gone on in Asia for decades.
http://www.bloomberg.com/news/2010-08-17/at-least-half-of-apartments-in-shanghai-beijing-are-vacant-daily-reports.html
|
