My friend got a 2.7% loan a few months ago.
We are already at 2% mortgages plus a little fluff. Rates must grind lower to enable REFI of mortgage and rollover of corporate debt.
Higher rates will 'blow up the banks' so you will never see them. ever again.
It makes all US real estate look very cheap per square foot compared to the rest of the world. And salaries in relation to home prices in the US are still better than the rest of the world. I'm sure there's exaggerations in this chart, but it's still eye-opening.
I'm curious what median incomes vs. home prices in Japan are compared to the U.S.
You can't compare Japan's housing bubble to the US housing bubble without comparing Japan's median incomes to their home prices.
The rest of the world don't pay that much tax and HOA fee.
They also don't move every 6 years.
Any evidence to back that up? I'm curious who has lived and worked in other countries recently and compare their housing costs and salaries as compared to living in big cities in the US.
14 year olds cannot buy homes in any other developed country in the world. This place has both extremes and it always will. Cheap good quality homes and overpriced pieces of crap. Most European countries I have visited have pretty expensive good quality homes. That is rare here. We send the wood with the most knots to the most desirable areas. Then charge 10x the price they are really worth. Funny thing is, lines of fools fight for accesses to the crappy lumber cottages.
European countries don't mesure in square feet their properties, most likely the numbers are in $/square meter. I can believe $3,287 per square meter in Paris, but hardly in $3,287 per square feet.
100 (square meters) = 1 076.39104 square feet
1000 (square feet) = 92.90304 square meters
Dive, dive, dive! Klaxon horns blasting and dog all the hatches, this is going down baby.
High unemployment, check. Foreclosures in ever increasing numbers, check. Lots of underwater houses ready to be foreclosed, check.
The Philidelphia Federal reserve guy was on Nightly Business Report, talking about when they will raise interest rates.
Houses will cost more per month so this will put more downward pressure on house prices.
Down, down, down.
This thread is so full of stupid it's not even funny.
Well, now that you say that I would have to agree. ;)
The think that comes to mind is that the talk of comparisons between Europe and the U.S. and the rest of the world doesn't ever segue into "Where do people need to be?" or "What are people doing in those places that they have to buy a house, and can they do the same thing somewhere else?" It seems that most of the economy now is just people doing things to entertain each other (cars, airplanes, wars) and the rest is selling paper to prove they need to do it (marketing, banking, government), but nobody really stops and says "Where are we going and why am I in this handbasket?"
Underwater houses underwater (if they aren't blown into the water by tornadoes first).
They are definitely in a housing bubble there, probably where the US was in 2004-2005...
Between Austrailia, Brazil, China, Canada ect...
Where on earth isn't there a housing bubble?
If you MUST buy real estate.. I think buying in the US is definitely your safest bet.
But I was just commenting on the fact that if you think US real estate is going to fall another 20-40%... Then that's putting us in 3rd world country real estate arenas... Atleast when compared to median incomes.
But the schools in these countries have the best scores. The 33x median income is justified if you kids can stay away from drugs and get a scholarship right. With that logic, why not 66x, 132x, etc. etc, Mommy mommy make it stop.