ha the right stimulus. They are still searching for it and guess what? they can search for it all they want and will never find it because that's not the way a real economy works. Anytime there is a threat of a recession they react as quick as they can to keep it from getting deeper and in some cases will go as far to try and eliminate it as quick as it came, that's the problem we have. These last few quarters of GDP growth is all an illusion, its not real growth, its all stimulus money going to work within the economy. The system is very broken.
Would be nice to get a roof over your head that you could actually own making $40k a year but that wont be happening anytime soon. Housing is still out of reach for millions and millions of people even those who didn't buy during the boom years. Near me 1 bedroom coops and condos go for $175k+ and at those prices you don't get a great school system either. Anything lower than that brings you into buildings that are at least 50+ years old and need much work. On top of that you have extremely high maintenance costs that start around $450-$600 and go as high as $800-$1000 depending on the SQF. and type of builkding your buying in. On top of that you have taxes which come in between $2500-$5000. You might even need a second job to pay the cable bill which could easily cost you $150-$200 a month!!!!!
"These last few quarters of GDP growth is all an illusion, its not real growth, its all stimulus money going to work within the economy. The system is very broken." Agree totally. After 9/11 President Bush created a false economy via easy credit. The inevitable can only be supported for so long. 2008 the inevitable was finally realized. The current government has created a false recovery via handouts. What will happen when the next inevitable is realized and comes to fruition? http://www.youtube.com/watch?v=kxLY7vfp9Tg
Its been 2 yrs and still home prices in most us cities are not at equilibrium levels. It could take 2 more yrs guys.
The Obama administration fails to recognize (or fails to acknowledge) that the "demand mechanism" is significantly damaged (more like "exhausted")... and we'll not see anything like a "normal" recovery until that changes.
Mortgage rates remain at lowest level in decades yet mortgage applications are falling. What is going on here? http://finance.yahoo.com/news/Mortgage-rates-remain-at-apf-877425484.html?x=0
i'm in Philly burbs and those numbers,posted by S2007S are actually pretty darn low..our property taxes are in range from 5K to 15K(which is pretty low, compared to NJ taxes) buy brand new 2K sqf townhouse (450K) and you are going to pay 15K in property taxes alone. easy