 Quote:
|
Originally Posted by maddythebeagle
Isnt it high wages in certain areas that are driving up the prices? I dont think that helps that the no interest loans are becoming popular. I suppose folks in those "high wage areas" that arent high wage want a way to buy in at the inflated prices.
I have a hard time comparing this to the internet bubble. Housing is supported by supply and demand. Internet stocks were suported by a few ridiculous snake oil analysts convincing the sheep that the rules had changed.
|
I don't think it's high wages, at least not in our area.* Washington state was not on the top 15 list, but there certainly has been very rapid acceleration of prices on the west side of the state.* *
I think the housing price rise is driven by low interest rates, easily available financing and speculation.* *I suddenly see many, many for rent signs in our area.* Everyone with a few spare bucks bought a "rental house" even though the rent won't pay the mortgage (especially without tenants) they are counting the rising prices to make them a profit in a few months.
I wish I'd done it - but I keep thinking that whatever point I buy in at will end up being the top of the bubble, and I'm just not willing to take the risk.
|