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flstf · 01-26-2005, 03:09 AM

I know what you mean. A year and a half ago we sold our house that we bought in 1988 for $128,000 for $545,000. The first day it was on the market a guy showed up 30 min before the opening and paid cash with no contingencies. After checking with the prices in that area today (Seattle) I think it is evaluated $50K to $100K above that now. It was one of the lower priced houses in that neighborhood. You have to wonder how working people can continue to pay so much for typical middle class housing.

I worked as an engineer and my wife as a designer and there is no way we could afford to spend so much. The taxes alone were almost $6,000 a year. I have to believe that these prices are getting out of hand. Not everyone has a couple hundred thousand for a down payment. When the prices get higher than two middle class workers can afford you know they are getting out of hand. Even if they are willing to use half their income for payments.

We moved to a different state and bought a better house with land out in the country and paid cash with the profit and still had $150K left over. So location has a great deal to do with it.

01-26-2005, 03:09 AM	#4 (permalink)
flstf Easy Rider Location: Moscow on the Ohio	I know what you mean. A year and a half ago we sold our house that we bought in 1988 for $128,000 for $545,000. The first day it was on the market a guy showed up 30 min before the opening and paid cash with no contingencies. After checking with the prices in that area today (Seattle) I think it is evaluated $50K to $100K above that now. It was one of the lower priced houses in that neighborhood. You have to wonder how working people can continue to pay so much for typical middle class housing. I worked as an engineer and my wife as a designer and there is no way we could afford to spend so much. The taxes alone were almost $6,000 a year. I have to believe that these prices are getting out of hand. Not everyone has a couple hundred thousand for a down payment. When the prices get higher than two middle class workers can afford you know they are getting out of hand. Even if they are willing to use half their income for payments. We moved to a different state and bought a better house with land out in the country and paid cash with the profit and still had $150K left over. So location has a great deal to do with it.