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originally posted by: marg6043
a reply to: onequestion
The bubble burse in 2008, but it never went away, is not that it's a new one forming but that the last one is been inflated since 2008.
WASHINGTON — The mortgage company ads are everywhere online: "Obama Urges Homeowners to Refinance Now." One person not taking that advice: President Obama himself. Obama's annual financial disclosure report, released Friday, shows the president and his wife are still paying 5.625% on a mortgage they took out on their Chicago home in 2005.
Obama borrowed $1.32 million in 2005 to purchase his $1.65 million Chicago home, according to his mortgage company. But his 2014 tax returns show he paid $63,164 in mortgage interest last year, suggesting he's made some early payments to get the balance down to about $692,000.
originally posted by: onequestion
Rent for a 1 bedroom is 2000 a month where I live and its not even listed in the top 10 most expensive places to live in the US. Clearly there is another bubble forming and I'm not alone in thinking this.
Real estate prices increased again in January, with several states reaching new historic highs, leading experts to wonder whether another real estate bubble might be brewing. Nationwide, home prices rose by 5.7 percent in January compared to a year ago, according to data released Tuesday by CoreLogic
To me its very odd that prices are climbing so high while the labor pool is consistently growing driving down the average earning for almost all sectors across the board.
Wages stagnating and decreasing while housing cost going up. Oh jee... we don't learn easy lessons.
originally posted by: Neopan100
Rent is crazy! We currently live in Evansville, IN. We rent a VERY small house for 900 bucks/month. Utilities are through the roof too.