2006-12-25 07:37:31 · 8 answers · asked by Anonymous in Society & Culture ➔ Other - Society & Culture
The growth of housing prices is less the fault of the banking world and more the normal (albeit unfortunate) effect of the increasing demands of consumers. Today, nearly everyone wants to own a nice house with all the modern amenities in a nice neighborhood. However, there is only so much land available. Cities are also much more cautious now about zoning laws and making the cities themselves nice to live in to prevent the sprawl and cookie-cutter neighborhoods created in the mid-20th century. Hence demand goes up, and housing supply is almost always nearly constant, so the price naturally rises.
2006-12-25 07:44:24 · answer #1 · answered by poseidon33 2 · 0⤊ 0⤋
How do you figure its fraudulent? That would mean that it is done dishonestly or illegally. You should use a more appropriate phrase, such as fast appreciation of home prices...etc. I don't see how the mortgage market is the reason. The reason is all of the people jumping on the bandwagon of buying and selling homes, knowing it is a low-risk investment. No need to say it is fraudulent because people are doing it because they know that it is generally a good investment
2006-12-25 07:47:13 · answer #2 · answered by s 3 · 0⤊ 0⤋
Fraudulent home prices? The mortgage lender generally won't approve a loan on an inflated priced house. They will however give you a loan in which the terms aren't quite on par. This usually happens when you have to go to a sub-prime lender, given your credit rating and such, if a prime lender won't touch you. And if you set your kids up right, as in guiding them to get an education and a career, they can surely buy a home.
2006-12-25 07:41:14 · answer #3 · answered by biker_beeotch 2 · 0⤊ 0⤋
hire. We flow on in many situations occurring each 2 years or so. we are residing purely exterior of the city of Pittsburgh in a great college district. that is $900 a month for the 2nd and third floor of a superb older abode that has a good looking stained glass window yet regrettably no uncovered hardwood. 3 beds (a million used an place of work), sturdy sized kitchen, 2 comprehensive baths and basement get entry to for our laundry machines. certainly one of those days we are going to purchase, if we ever quiet down. in many situations occurring abode value to purchase in my community is probable 250g to 300g. the subsequent city over you could desire to purchase for 40g or much less. No kiddin'. Pittsburgh has quite some inexpensive genuine property
2016-12-18 18:57:49 · answer #4 · answered by ? 3 · 0⤊ 0⤋
They may only own what we leave to them, which is questionable considering the popularity of cash out refinancing.
I've taken advantage of the growth and have a bucket of equity, but it stays there until I buy something new, because I couldn't afford to otherwise.
I also wonder who kids are going to afford college educations as well. Student loan amounts will be ridiculous.
2006-12-25 07:42:27 · answer #5 · answered by LifesAMystery 3 · 0⤊ 0⤋
In economy they say
What goes UP, must come DOWN
See the market depends on demand and supply...
which inter related with price and other factors...
2006-12-25 08:01:53 · answer #6 · answered by DON 4 · 0⤊ 0⤋
Maybe they can inherit mine?? Maybe NOT! Who knows?
2006-12-25 07:41:12 · answer #7 · answered by SHERRI 4 · 0⤊ 0⤋
By hard work!
Work your ( their) ***
off is a first..
Work. Work..
2006-12-25 07:45:59 · answer #8 · answered by just me here 3 · 0⤊ 0⤋