Quote:
Originally Posted by jorgelito
What I really don't understand is, if wages are basically the same, then who is buying up all the houses?
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Wages aren't the same. The rich and the poor have gotten much wealthier, over the last 5, and 10 years.
Quote:
Originally Posted by jorgelito
I just don't understand how anyone can afford to buy a house these days. There aren;t that many good paying jobs out there.
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It would seem that indeed there
are plenty of good paying jobs out there, because there is no shortage of buyers.
Home ownership is UP...WAY UP, not down, and this is so across all ecomonic classes.
New home starts are setting records, existing home sales are setting records. Prices are setting records. First time home buyers are setting records. Unemployment is unbelievably low, so low in fact that economists are actually concerned that it is too low, and could actually create economic problems in an ability to pay the wages which will be required to attract and retain quality employees. Supply and demand applies to everything, including labor.
-bear