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invite response
2012 Oct 12, 8:06am 3,471 views 4 comments
Comments 1 - 4 of 4 Search these comments
bubblesitter
2012 Oct 12, 8:58am
One of the comments:
It seems almost criminal that it should take the average person 20-30 years to pay for a house made of wood, hay and stubble.....
One of the comments:
It seems almost criminal that it should take the average person 20-30 years to pay for a house made of wood, hay and stubble.....
While while we are at it try explaining to the average idiot what a depreciating asset or a negatively amortised mortgage is how they will pay and pay and pay and after years theoretically owe MORE than they borrowed!
ELC
2012 Oct 13, 6:11am
This is what financing options does to those tempted by it. I remember a time when a Cadillac was $3000 but there was no such thing as seven year financing or auto worker unions. A house was $20,000 but it could be had by most without a mortgage never mind a 30 year.
Just say no. Every friggin "holy book" that exists tells you not to lend or borrow money yet people do and then they can't figure out where they went wrong. If books of fairy tales for ignorant people have it figured out why can't intelligent people grasp the concept?
This is what financing options does to those tempted by it. I remember a time when a Cadillac was $3000 but there was no such thing as seven year financing or auto worker unions. A house was $20,000 but it could be had by most without a mortgage never mind a 30 year.
I'm confused by your time lines. Houses were 20k in the 60's, caddies were 3k in the 40's, autoworkers unions started in the 30's, mortgages have been common since the late 1800's. When exactly are you talking about. I'm really interested in when "most? people had cash to buy houses.
http://blogs.aljazeera.com/blog/americas/families-bear-brunt-us-housing-crisis
As mentioned in Patrick's book 'The Housing Trap' there is an endless
barrage of 'upbeat' Real Estate media articles constantly being promoted for our consumption.
I've decided I'm going to search for articles that have credibility, this one is from a 'Senior Washington Correspondent', and, for whatever reason, don't get the air time they may deserve.
This article focuses on one family, but interweaves a darker plot..
#housing