Monday, May 4, 2009

That hard wood floor you put down isn't going to help

Sorry, but your home value is going to continue to suck.

It’s also unlikely that the “Generation X,” born between 1965 and 1976 (or more derisively called “baby busters”), will bid up home prices. They are only 44 million strong, not as wealthy and even more in debt from college loans.

Couple of thingys; it's not a good idea if home prices go back to where they were. Property value became nuts. So nuts that a first time buyer that made over 70K would have had to live in a shitty neighborhood since the "nice hoods" became out of reach for this salary range. This did not signify a healthy housing market.

Also, I'm not sure what this dude means with Gen X paying off college loans? Most Xsters would now have graduated undergrad for 10+ years and the loans should be finished off. I thought? What college loans did do to many was make it difficult for Xsters to get a foothold during their 20's.

Essentially one's choice went like this: 1.) student loans 2.) car payment 3.) mortgage.

Choose which 2 of the 3 you wish.


Bag Blog said...

House prices do need to come down to reality.

Anonymous said...

I agree with BB. It needs to level off. Those crazy, crazy high prices seem to have slipped away, but I guess now people are trying to sell to get anything out of it. It's a shame, really, because a lot of people got screwed, quite frankly.


Wek said...

It is a shame for those who acted responsibly and just bought at the wrong time. Can't imagine making a 200K mortgage payment on a 120K house.