Do they think we have money coming out of our butts?
2006-09-01 08:17:45 · 10 answers · asked by daydreamer 2 in Business & Finance ➔ Renting & Real Estate
Prices are based on what the market will bear. So while your salary or household income has stayed the same a lot of peoples have grown so that they can afford a larger house payment. Additionally, home loans use to just be for 30 years but you can get longer ones now and finally, banks have been encouraged to lend money so a lot of people qualified for loans that they wouldn't have qualified for 10 years ago and/or they refinanced and used equity to pay off other debt and added to the length of their loan.
2006-09-01 08:42:44 · answer #1 · answered by Not Laughing w/ U 3 · 0⤊ 0⤋
The cost of constructing a house is going higher by the day, so one can't expect the prices of a house to be cheap. Salary cannot be the only source you should depend on but rather look for a way of expanding your income base. You could do this by taking advantage of a good work at home business which you could do partime after work and earn some extra money every day. By taking the simple step I've suggested you'll soon become a Multi-stream income earner. So be thinking about getting your own business where you'll be your own boss. And I want to tell you that this kind of business pay you till you are dead whereas the normal work stop paying you or little when you quit your job
click the links below to see the links that say something about MULTI-STREAM OR HOME BUSINESS. good luck!
2006-09-01 15:41:55 · answer #2 · answered by xovinz_nop 1 · 0⤊ 0⤋
It's much more simple then all of these answers. Mortgage rates have come down so low in the past years people's can afford more house because the payments are lower. This pushes the price up
2006-09-01 16:45:04 · answer #3 · answered by mortgage_info_4u 2 · 0⤊ 0⤋
Actually, home prices are droppiing a bit because of the depressed housing market. Otherwise, the only other answer is, life is life, and no one cares if you have money or not, prices are what they are. Such is life!
2006-09-01 15:23:45 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Short answer: speculation and low interests rate have fueld the housing price. Market is going through a correction. It will be ok again.
2006-09-01 18:09:06 · answer #5 · answered by Price is what you pay for value. 3 · 0⤊ 0⤋
A lot of it has to do with the adjustment in intrest rates... also, supply and demand. if you want to know more about the inflation rates, check out this article~ http://www.gsb.stanford.edu/news/research/econ_housinginflation.shtml
2006-09-01 15:34:36 · answer #6 · answered by Chicago S 2 · 0⤊ 0⤋
I can remember my grandparents complaining about the same thing back in the 1970s... is this something new?
2006-09-01 15:25:51 · answer #7 · answered by mama_bears_den 4 · 0⤊ 0⤋
That's what I been asking myself for years. It's crazy, especially here in New York!
2006-09-01 15:21:11 · answer #8 · answered by Anonymous · 0⤊ 0⤋
That's the case with every thing: housing, gas, food, utilities..... Only the rich will survive.....
2006-09-01 15:41:35 · answer #9 · answered by Ms T in GI 2 · 0⤊ 0⤋
inflation, life's unfair... u name it.
2006-09-01 15:20:05 · answer #10 · answered by lady sixx 6 · 0⤊ 0⤋