We'll never learn

[RickStain]

I know the difference. This isn't a formal environment, I didn't feel the need to be precise. I'm guessing you are going to try to be condescending because you know that your assertion is based on pretty flimsy evidence and you want to bluster through it.

There isn't any proof of what you are saying. At worst, the jump in home ownership was a symptom of the deeper problem.

Really? I'd love read where

Take a look a the United States history books of say, 2002-2007. Have you looked around and seen the foreclosures in this country? Our country is littered with properties that were formerly "owned" by people who did not have wherewithal to own a house. Each of these people were told they can be homeowners by people blowing smoke up their ass.

is a distortion. Lay it on me.

The distortion is simple: You are trying to blame the larger housing bubble on a relatively much smaller phenomenon: Home ownership among those who couldn't afford to own a home.

Those cases are dwarfed by people who tried to own homes bigger than they could afford, but could have afforded some sort of home.

 

[poindexter]

Take a look a the United States history books of say, 2002-2007. Have you looked around and seen the foreclosures in this country? Our country is littered with properties that were formerly "owned" by people who did not have wherewithal to own a house. Each of these people were told they can be homeowners by people blowing smoke up their ass.

I don't get how that is a distortion in any way. I am not even saying that this was "all" of the problem.

 

[RickStain]

Take a look a the United States history books of say, 2002-2007. Have you looked around and seen the foreclosures in this country? Our country is littered with properties that were formerly "owned" by people who did not have wherewithal to own a house. Each of these people were told they can be homeowners by people blowing smoke up their ass.

I don't get how that is a distortion in any way. I am not even saying that this was "all" of the problem.

You very clearly implied that it was at least a primary reason, and you later stated it was the "top of the list."

 

[spnited]

45K for a starter home?
A two-room tent costs more than that.

 

[JC]

Fortunately, my preferred areas of living are very low-cost. $45,000 will get you a decent starter home.

That seems so......unreal.

And how the hell can anyone NOT afford a 45K home? Your mortgage would be like $150/month, and that's probably high.

Someone working minimum wage at the local gas station could afford that.

(Not talking about you personally, Rick. I have no idea what you do, etc.....just in general)

It's not the mortgage payment. I salivate every time I think about replacing my rent check with that.

It's the down payment and the credit history. I'm getting there, but it's going to take another year or two.

I honestly have a hard time believing this. Am I the only one? 45 grand is less than a lot of down payments and RV's

 

[ArnoldBabar]

Good Tebow, you couldn't buy a parking space for $45K here.

Sometimes I think I just want to move to the Midwest and be rich. My best friend from high school has a 4,500 sf house with six bathrooms near KC and paid less than $400K. The house I rent in Seattle -- and many of you have been here -- is pretty much a fixer upper and is worth half a million.

 

[JC]

Good Tebow, you couldn't buy a parking space for $45K here.

Sometimes I think I just want to move to the Midwest and be rich. My best friend from high school has a 4,500 sf house with six bathrooms near KC and paid less than $400K. The house I rent in Seattle -- and many of you have been here -- is pretty much a fixer upper and is worth half a million.

Babar, I live 2 hours to the north of you, an hour outside of Vancouver and a 900 square foot, old and I mean old townhouse is 250 to 260. The same townhouse in the city is double.

Rick, are you looking at buying in Baghdad?

 

[spnited]

Good Tebow, you couldn't buy a parking space for $45K here.

Sometimes I think I just want to move to the Midwest and be rich. My best friend from high school has a 4,500 sf house with six bathrooms near KC and paid less than $400K. The house I rent in Seattle -- and many of you have been here -- is pretty much a fixer upper and is worth half a million.

Babar, I live 2 hours to the north of you, an hour outside of Vancouver and a 900 square foot, old and I mean old townhouse is 250 to 260. The same townhouse in the city is double.

Rick, are you looking at buying in Baghdad?

Probably West Virginia or Mississippi.

 

[JC]

Good Tebow, you couldn't buy a parking space for $45K here.

Sometimes I think I just want to move to the Midwest and be rich. My best friend from high school has a 4,500 sf house with six bathrooms near KC and paid less than $400K. The house I rent in Seattle -- and many of you have been here -- is pretty much a fixer upper and is worth half a million.

Babar, I live 2 hours to the north of you, an hour outside of Vancouver and a 900 square foot, old and I mean old townhouse is 250 to 260. The same townhouse in the city is double.

Rick, are you looking at buying in Baghdad?

Probably West Virginia or Mississippi.

Well then, I suggest Baghdad.

 

[sportschick]

There are vast swaths of the Midwest, and not just in West Virginia, where you can buy a house for that amount.

No idea about the South.

 

[spnited]

Seriously. Wheeling, WVa

http://www.trulia.com/property/1042072409-319-N-Huron-St-Wheeling-WV-26003

 

[spnited]

Arkansas

http://www.remaxarkansas.com/remaxar/modules/internet/search/includes/mapsearch/listingpopup.asp?mlsid=400&mlsnumber=10153055&l=y

 

[ArnoldBabar]

Arkansas

http://www.remaxarkansas.com/remaxar/modules/internet/search/includes/mapsearch/listingpopup.asp?mlsid=400&mlsnumber=10153055&l=y

I think it might actually cost me more to move there than to buy the house.

 

[spnited]

Why would anyone want to move to bumble****, arkansas?

 

[ArnoldBabar]

I hear they're getting a Trader Joe's.

 

[sportschick]

Just because you don't want to live there, spnited, doesn't mean other people wouldn't like it.

 

[Football_Bat]

Why would anyone want to move to bumble****, arkansas?

Maybe they live in Cumbubble, Arkansas and want to improve their station in life.

 

[JackReacher]

Those people aren't very S-M-R-T, though. :D

And yeah, there are large parts in the South with houses that cheap, too.

I lived in an area of north Alabama with cheap, cheap, cheap housing and you couldn't find anything there for 45K. Even a fixer-upper starter home down there would run you 75-90K. Cheap indeed, but not 45K cheap.

I'd love to see some of the "starter homes" available anywhere for 45K.

 

[User 1019]

Actually, 40-50K would be 20% down on a small condo where I am.

Why anyone would want to live somewhere like that is beyond me.

 

[JackReacher]

Actually, 40-50K would be 20% down on a small condo where I am.

Why anyone would want to live somewhere like that is beyond me.

In that city or in a condo?