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Originally Posted by roguehunter65
Housing is going up like crazy on the cape. The house next door to me sold for 125k around 7-8 years ago, now its worth 375k.
I think it would be a good idea to sell and wait for the prices to crash. But, in my case, there is only so much space in Mass. so I think housing will never go down. They can only build so many houses. Maybe if the demand changed the prices would go down.
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NJ is the same problem - -I think latest census records showed it to be the third most populous state, and no where near third in size... There is no place l eft for them to build houses... so prices are at a premium.
In my parents area... people are buying houses at 500K plus - basically for the property - -in most cases - these houses they are buying are older - and being ripped down to the foundation and rebuilt... it's absolutely insane... I had been looking for an affordable house in North Jersey for over 2 years (and by affordable I was going for under 300K without having to do a lot of work) it was unfindable...