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The median home value in Dallas is $137,000. Dallas home values have gone up 16.0% over the past year and Zillow predicts they will rise 6.3% within the next year. Foreclosures will be a factor impacting home values in the next several years. In Dallas 3.7 homes are foreclosed (per 10,000).
That's a $500/month mortgage payment with a low down payment FHA loan. Anyone with a $10.00/hour service sector job and a decent credit rating can handle that.
World GDP 78 Trillion.
United States GDP 17.4 trillion.
22% of the world's economy
World population 7.3 billion.
United States population 319 million.
4% of the world's population.
Two measures of health are widely used in economic history: life expectancy at birth (or average length of life) and average height, which measures nutritional conditions during the growing years.
In 1850 the life expectancy of an American was 38.3 years.
In 1998, the life expectancy of an American was 76.7 years.
The average height of an American man is up more than 2 inches during that time frame.
Quoting GDP is a poor way of measuring the strength of the economy in a Nation where 1% owns most of the wealth.....
This is exactly why everybody is so confused in economics conversations right now. All of the leading indicators are saying the economy is doing great yet the average American family is on food stamps and has zero savings.
I think the Presidential election will cause a huge increase in prices in stores and cause a decrease in the housing market, no matter who is elected. I have been downsizing and thinking less is more. I am saving all I can and being more self sufficient. I don't see things getting better as no one agrees to anything in the House and Congress. The deficit is rising, and unemployment is not lowering, as more people are applying for Government aid. Social Security didn't get a cost of living raise, because less people are paying into it. In four years I believe we will be near depression.
Housing will definitely either remain flat against inflation or will decrease OR will convert to investor owned and be rented out at levels never before seen. Millennials are strapped for cash from student loans and everybody will be seeing costs of healthcare/insurance being raised and passed on to the employee from employer. All of this means less $ to bid on housing. Boomers need to downsize and dump housing but the cash wont be there to get asking price. Either boomers will eat the difference or investors will buy up housing and rent out. Policy of course could change this so you never know. Then again we could have WW3 and no ones economic model will be correct due to too many variables.
i hate to let facts get in the way of everyon'es sky is falling story but there are folks out their who take control of things in their lives and make things happen . those folks are generally doing just fine .
Housing will definitely either remain flat against inflation or will decrease OR will convert to investor owned and be rented out at levels never before seen.
I think you've forgotten that interest rates are super low. Buying is cheaper than renting in many areas, even with no appreciation. Some areas may be in for a correction, but most will see appreciation in the near term.
I think you've forgotten that interest rates are super low. Buying is cheaper than renting in many areas, even with no appreciation. Some areas may be in for a correction, but most will see appreciation in the near term.
Thats where we would need policy changes. The current mortgage model doesnt look at whether owning is cheaper than renting or what the applicant is paying in rent, it looks at how much they have in debt. If applicants are buried in debt, they will be...and ARE being declined.
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