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Originally posted by JBA2848
I am a drywall contractor in Florida and theres one thing Glenn forgets to metion. The houses in quailty of products in them and the square footage of the homes changed for earlier years. Builders when they found out that anybody could get a $300,000 or $400,000 home quit making the houses that were worth $100,000. The builders decided building a house for 10 or 20 percent at $100,000 didn't make since when both houses had the same turn around time. There was the get as much as you can as quick as you can befor the boom is over. Plus the higher priced houses being built led to other preexisting homes doing upgrades in order to look better and compare to the new neighbors house. Property values in general went up. But the biggest thing that drove up property was builders trying to buy up there next vacant lot for there next house. Plus the property gave them calateral for more projects.
Originally posted by Pinktip
Here's the bottom line on home prices.
The avg home has to come down to the level that the avg worker can afford.
That being, no more that 2x his/her annual salary and them saving
20% of their income for retirement.
Until that is reached, it's all a pipe dream................
The larger point is that this is classic deflection and misdirection. The US economy as we knew it before the raping, pillaging and feasting of the last admin. has changed, forever, due to the 'policies' they inacted. Facts are facts and you should try to get a handle on them before launching a thread you are not ready to handle.