2007-01-25 06:57:07 · 8 answers · asked by Deirdre K 1 in Science & Mathematics ➔ Geography
try the Uk, in South East England, Near London house prices AVERAGE at £230,000, around $400,000
now thats un-affordable
2007-01-28 08:15:16 · answer #1 · answered by prof. Jack 3 · 0⤊ 0⤋
Because buyers can still be found at a high price.
Why can buyers be found at a high price? Looks like the people buying houses these days are not people looking to live in them, but rather people who are "investing" in the chance that they will be able to find a buyer at a price higher than they paid for the house.
2007-01-25 07:18:09 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Because its way too crowded and No one wants to live anywhere near the city's like Bridgeport or Springfield there is total anarchy there despite what the media says without family values our society will collapse into chaos.
2007-01-25 07:07:00 · answer #3 · answered by crawler 4 · 0⤊ 0⤋
hokiepaul's answer is simple and right on.....the dense and growing populations in the region cannot just buy 'new houses' as they is not much room left to build (if any).
therefore, they have to pay a premium for what's around.
2007-01-25 13:24:35 · answer #4 · answered by Tiberius 4 · 0⤊ 0⤋
People are dumb enough to pay the asking price and that inflates the prices. Supply and demand ....
2007-01-25 07:02:41 · answer #5 · answered by Gene 7 · 0⤊ 0⤋
The cost of living is rising.
2007-01-25 07:25:48 · answer #6 · answered by cece 1 · 0⤊ 0⤋
demand > supply
2007-01-25 07:01:47 · answer #7 · answered by HokiePaul 6 · 0⤊ 0⤋
housing bubble.
2007-01-25 07:02:23 · answer #8 · answered by Anonymous · 0⤊ 0⤋