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Originally Posted by al_bundy
home prices are still way to expensive
i remember in 2003 when i got married along with a friend of my wife i was talking to her husband who works in finance. back then an OK home in the NYC area outside manhattan and a few other trendy neighborhoods cost around $380,000. we both agreed it was way too much. it's still too much today i think.
michael milken of 1980's fame has found God and charity after jail and cancer. runs a non-profit think tank now.
few years back he did a study on home prices vs income. found that it fluctuated between 20% and around 40% to 45%. hit the peak twice in the last 60 years. 1981 and 2004, the last year of the study. i think no matter what the government is going to try to do we'll get a reversion to the mean which has been around 30%
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Please, keep up the rambling stream of nonsense consciousness, I love it.
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"And Jesus spake, 'Become thou now fishers of adjustable rate mortgages'" - New Conservative Bible
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