No, they won't, aside from hyperinflation. Russia, as most of the world, has a gigantic real estate bubble BECAUSE OF EASY CREDIT. It is all a big illusion based on MASSIVE debt. Who can pay for a house without the help of a bank? Without banks "helping" people, house prices would be MUCH lower. thomaspainereturns.net
Why are the rise and fall of home prices such a big deal? Because today, many people buy homes not to live in, but to make a profit. They buy houses, make improvements and resell them, making a HUGE profit. This practice is called "flipping". The price of the home goes way up. This is immoral when so many people cannot afford a home to live in. To all of these house flippers, I've got a "flip" for you. ‹^› ‹(•¿•)› ‹^› Sincerely, Gene H.
In 1967 my father, a food salesman, was able to buy a home: I was ten years old. Dad had nine children and a meager income. Today, in San Francisco, one must be a doctor married to a lawyer to afford a home. The average price here is $700,000. Besides corporate greed which has caused a dramatic fall in the average American's real wages and income, home prices have been outrageously inflated. Millions of Americans have been forced to default on their mortgages, despite working two or more jobs. IMHO this is the root of the current economic crisis. The minority of the rich have gotten richer, and everyone else has suffered. I am a renter because, except for winning at the Lottery, there is no way I could afford to buy a home. Gene from SF.
28 May, 2009, 15:05
No, they won't, aside from hyperinflation.
Russia, as most of the world, has a gigantic real estate bubble BECAUSE OF EASY CREDIT.
It is all a big illusion based on MASSIVE debt.
Who can pay for a house without the help of a bank?
Without banks "helping" people, house prices would be MUCH lower.
thomaspainereturns.net
25 May, 2009, 10:10
Why are the rise and fall of home prices such a big deal? Because today, many people buy homes not to live in, but to make a profit. They buy houses, make improvements and resell them, making a HUGE profit. This practice is called "flipping". The price of the home goes way up. This is immoral when so many people cannot afford a home to live in. To all of these house flippers, I've got a "flip" for you.
‹^› ‹(•¿•)› ‹^›
Sincerely, Gene H.
23 May, 2009, 05:30
In 1967 my father, a food salesman, was able to buy a home: I was ten years old. Dad had nine children and a meager income. Today, in San Francisco, one must be a doctor married to a lawyer to afford a home. The average price here is $700,000. Besides corporate greed which has caused a dramatic fall in the average American's real wages and income, home prices have been outrageously inflated. Millions of Americans have been forced to default on their mortgages, despite working two or more jobs. IMHO this is the root of the current economic crisis. The minority of the rich have gotten richer, and everyone else has suffered. I am a renter because, except for winning at the Lottery, there is no way I could afford to buy a home. Gene from SF.
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