LogFAQs > #925312046

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Topic	Apparently Owning Property Takes You From The Bottom 10% To The Top 20%
Taily_Po 07/28/19 9:10:21 PM #22:	aDirtyShisno posted... In LA County, California. I dont want to get too specific and have you all showing up at my future door! That would entail going to California. XD streamofthesky posted... aDirtyShisno posted... So Im eventually supposed to inherit a property from my father and doing a quick google search on it shows its valued at approximately $760,000. The other funny thing I found out was that apparently my parents bought the property over 25 years ago for $142,500. Talk about an investment! It's called a property bubble. We were in one in the mid-2000's, and we're in one again now, because politicians have done nothing to fix it. And it's not really funny, it's destroying the middle class. People's incomes didn't get 5x larger in the last 25 years. Those property values are unsustainable, and are pricing more and more people out of home ownership and into being permanent renters. ...it's not necessarily a property bubble. Some areas have exploded in terms of high-paying jobs within the past 25 years. And the property bubble of the 2000s has little resemblance to anything that might happen today, given the last one was driven by subprime loans which are nowhere near as ubitiquitous today. --- "If I were a ghost, this is certainly the kind of place I'd haunt." (\/)(\/)\|-\| <cite>Taily_Po posted [p:925312046] in Apparently... [t:77894929]...</cite> <quote>aDirtyShisno posted...</cite> <quote>In LA County, California. I dont want to get too specific and have you all showing up at my future door! </quote> That would entail going to California. XD streamofthesky posted...</cite> <quote>aDirtyShisno posted...</cite> <quote>So Im eventually supposed to inherit a property from my father and doing a quick google search on it shows its valued at approximately $760,000. The other funny thing I found out was that apparently my parents bought the property over 25 years ago for $142,500. Talk about an investment!</quote> It's called a property bubble. We were in one in the mid-2000's, and we're in one again now, because politicians have done nothing to fix it. And it's not really funny, it's destroying the middle class. People's incomes didn't get 5x larger in the last 25 years. Those property values are unsustainable, and are pricing more and more people out of home ownership and into being permanent renters.</quote> ...it's not necessarily a property bubble. Some areas have exploded in terms of high-paying jobs within the past 25 years. And the property bubble of the 2000s has little resemblance to anything that might happen today, given the last one was driven by subprime loans which are nowhere near as ubitiquitous today. --- "If I were a ghost, this is certainly the kind of place I'd haunt." (\/)(\/)\|-\|</quote> ... Copied to Clipboard!
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