Scary times, and possible opportunities
The opportunity, to me, is to get people to lead financial lives that are not so house poor. I think that's what I've learned overall from reading Calculated Risk; not that the housing bubble was a mistake, but that in general, people probably over-value houses as investments, as opposed to places to live. With transportation costs inceasing the way they have been, and now food going up in price, I would guess that the long term implication will be more limited spending on housing with emphasis on the immediate benefits, such as commuting time, neighborhood amenities, and the quality of education offered by local schools.
Comments
And I live in an area that is beyond too expensive. Inflationary bubble popping SOON I hope. Meanwhile, I prepare for great options in my near future.
Of course, co-habitating as we usually do for Life Partner Romantic Relationships like when Getting Married or Living Together, indeed, we sensibly decrease of cost of living expenses.
Just another great reason to pursue great romantic relationships and developing those skills for long term relationships and marriage.
All the best,
April BraswellYour Romance Coach, Internet Dating Coach
Having children myself, I did choose this horribly expensive town because of the quality of schools. Also, although it is 45 minutes to Boston without traffic, that isn't so bad.
Lisa McLellan
The Babysitter
Newport Beach Dermatologist
Everyone should have known housing prices were unsustainable, but they refused to believe it. Since 2002, unless you bought well, most people should have avoided entering the real estate market, but there was just so much money to be made and, after all, real estate never goes down in value.
People need to pay attention and learn the rules of investing in what ever product they are investing in.
I like to play Blackjack. Since I am not a high roller I usually play the $10 and $15 tables when I am in Vegas. I can't tell you how many times I have sat with someone who didn't know basic strategy or anything beyond the most rudimentary knowledge of the game. It is the same with real estate or stocks or any investment. People don't take the time to understand but want to play anyway.
Steve Chambers