Reply to Remember the recent bubble and crash -- it could happen again

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Reply to "Remember the recent bubble and crash -- it could happen again"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]No bubble. Values haven't doubled around here. Plus, everyone's money is still in the stock market, it's not being thrown all at real estate. Plus, there's not the same subprime market laying a foundation for foreclosures.

I think real estate will slow down though, significantly, sometime in the next decade. Because these kids in college and high school will refuse to pay over $500k for a shack in a crappy neighborhood, and demand will lull.[/quote]

No offense, but I'm 5 years out of college, make 150K, and refuse to pay 600K for a "tear down." Y'all are living in a everything-is-fine bubble. [/quote]

Well there you go, when you make 150k 5 years out of college it means wages are high enough to support a 600k teardown. At your age that's what you start with.[/quote]

I make more than anyone else I know with the exception of my lawyer friends. My job straight out of college was 30K. No upward salary movement in that field so I switched to a lucrative field that doesn't use my graduate degree.[/quote]

To add - at salary of 150K, it would not be a good financial decision to buy a 600K home. 450K at the absolute max.[/quote]

But housing always go up, so he should leverage as much as he can!  Who cares if it is 4x his income, that is old fashioned [/quote]

That's bubble talk! And I'm not a he, I'm a she. Sorry my expectations seem high. At nearly 30 I want a family and a home. I can afford neither in this area. I've had male friends buy condos (2006) and get stuck underwater & unable to rent for the amount of the mortgage + HOA fees. If I want a family in the next 5 years, that's a terrible decision.[/quote]

How many years were in you college?!

Your friends bought at the peak of the market. How is that comparable?

Almost everyone I know started with a condo/small TH/small dinky house ("starter home") far out and then built equity over the years and then eventually bought up to a bigger house for a family.

If you aren't willing to do this and you just want to jump in and buy a family home you sound a little entitled.  Either buy something in your price range or keep saving until you can afford something more.  
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