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Skyrocketing Real Estate Prices

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posted on May, 8 2005 @ 10:36 PM
My friend and I were talking about the rising Real Estate prices in our area. We live in the DC/MD/VA area and the prices are rediculous. In my area a one room home or condo can start at close to 200k. The same condo in the downtown DC area can start around $1 Million.

I'm going back to college now and when I graduate, I would like to purchase a home. With prices like they are, I don't think I would be able. Its a wierd cycle: Most graduates cannot find jobs and if they do, they only can afford to rent. Well, I'll stop there before I start another rant.

Anyway, my friend told me that she and her aunt as a converstation similar to the ours. Her aunt mentioned that our generation just sits down and takes things as they are. We don't like the prices of real estate, but people (who can afford it) are still are buying. We thought about trying protesting or something similar, but we have no clue where to start or who to even talk to about starting.

Anyone care to offer any suggestions?

Thanks in advance,

posted on May, 9 2005 @ 01:08 AM
Its a supply and demand issue. If you think that area is bad, try looking at the SF Bay Area. Suburban home prices on the penninsula will make you gag.

You can protest but would it do you any good? You guys have to decide:

1) Is the area where you want to live?
2) Can you find employment in a lower cost area?
3) Buy out of area and communte in.

Number 2 seems to be the most practical.

[edit on 5/9/05 by FredT]

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