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Even with the experts reassurances, I do feel a certain fear with the housing market. Regardless of bubble or not, housing prices just seem to be out of reach and priced ridiculously high. What I really don't understand is, if wages are basically the same, then who is buying up all the houses?
I don't know anyone straight out of college who can afford a $450,000 2BD/2BA starter home here in LA. That just doesn't seem to be reasonable. With some luck, I should be making $60,000 salary when I graduate which is almost double the average BA salary. Even then, I don't think I can afford to buy a house here.
Making things worse is many apartments are being converted to luxury condos, further squeezing the rental market.
I've move 3 times in 2 years for that reason.
How does everyone else do it?
Ben, are you talking about Canadian real estate or US real estate? Does it matter even? I don't know man, I guess I disagree with you a little on the inflation part. I think prices have skyrocketed but wages haven't really. So the inflation is relatively high to me.
Elphaba, I tihnk I read that TIme article, it might still be online (I think it was linked through cnn.com).
FngKestrel, I'm with you, it definitely feels like walking through a mine field with clown shoes on while blindfolded.
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