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07-12-2007, 02:29 PM
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These people pay more for a place to park their car than many can pay for a home...
Manhattan parking spot*going for $225,000 - Jul. 12, 2007
It isn't just florida its ceo coo etc the ubers of this century can will and do whether you agree, like it or not... how why??? Because they can... |
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07-12-2007, 02:51 PM
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Senior Member
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1,838 posts, read 1,496,184 times
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Quote:
Originally Posted by SRQ single
These people pay more for a place to park their car than many can pay for a home...
Manhattan parking spot*going for $225,000 - Jul. 12, 2007
It isn't just florida its ceo coo etc the ubers of this century can will and do whether you agree, like it or not... how why??? Because they can... |
Huh? Did you read what I wrote? I said above...do you think these people are going to want to buy average houses? Of course not. You need average people to buy average houses. The uber wealthy are not going to come down there and buy your house, for that you need the average Joe, who can't afford it right now. |
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07-12-2007, 03:09 PM
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27 posts, read 27,407 times
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As I always said it is all about location... The average joe will never be able to buy in my neighborhood again that stopped many years ago...Most of your "Ubers" prefer to build their dream they are not into tract or older homes...Location Location Location! They are buying the dirt the location not the house... The average Joe will be pushed further and further from the coast.
Myself included if I ever did sell...
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07-12-2007, 03:24 PM
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Waiting to pick up the pieces from the crash
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Join Date: Oct 2006
Location: Key Largo
6,160 posts, read 5,289,944 times
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And remember, tract homes don't have a lot of space for the kind of estate a rich person would want.
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07-12-2007, 04:22 PM
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Not a member
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Join Date: Jun 2007
61 posts, read 62,759 times
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The market will bottom out in 2 years, then in 6 years another building boom will be starting up and we can do this whole mess again.
as i stated before, you can not take a simple formula like "a house should cost 3x gross income" and apply it to a complex market like florida.
You can get a house for 125,000 in the middle of ga, tenn, ala or most other places. If you want to live in a very desirable place like the florida coast, brooklyn, chicago, DC, san fran, seattle, then you have to pay a premium. What do you people find so hard to understand? Your 3x income formula is so incorrect, this is 2007, not 1955 in mayberry NC.
Last edited by HowdyYall; 07-12-2007 at 04:23 PM..
Reason: info
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07-12-2007, 04:51 PM
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Senior Member
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The market will bottom out in 2 years, then in 6 years another building boom will be starting up and we can do this whole mess again..
Hmm...that depends on a lot of variables including interest rates (higher/lower), economic expansion (or stagnation) and census statistics (unpredictable due to immigration reform).
as i stated before, you can not take a simple formula like "a house should cost 3x gross income" and apply it to a complex market like florida.
I believe it should give a person an estimate, just as it is a way to formulate rent. It is responsible to spend around 33% of monthly income on housing. Going progressively higher will put a person in more jeopardy.
What do you people find so hard to understand? Your 3x income formula is so incorrect, this is 2007, not 1955 in mayberry NC.
See above for a response, 1955 or 2007 what is so hard to understand?
You can get a house for 125,000 in the middle of ga, tenn, ala or most other places. If you want to live in a very desirable place like the florida coast, brooklyn, chicago, DC, san fran, seattle, then you have to pay a premium.
Up until 5 or so years ago, there were affordable properties for the "Average Joe's" in these "desirable" locations. I think people fail to understand that dispersing "Average Joe's" to places like Alabama (as you mentioned) will cause an economic downfall in the "desirable" neighborhoods. When there are no policemen, firemen, paramedics, nurses, plumbers, electricians and others to service these desirable communities, what do you think will happen?
"Average Joe's" make up the majority of Americans. Do you think treating the majority like a minority will benefit anyone at all?
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07-12-2007, 05:06 PM
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"Average Joe's" make up the majority of Americans. Do you think treating the majority like a minority will benefit anyone at all?
Actually yes just like in metro areas of say coastal cali NY DC etc the wages of the average Joe will increase because you are correct their Jobs/services are needed... I also think the 2-3X income is a figure that a bank uses to qualify one for a loan...And there are homes out east or west dependent on which coast in fl you are on that will meet the 2-3X income criteria.
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07-12-2007, 05:09 PM
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27 posts, read 27,407 times
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As for tradesmen when is the last time you called a certified licensed electrician or plumber??? Those guys are charging close to 90$ hr. Cheapest I've seen was 75 and that was if he wasn't busy and you paid cash!
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07-12-2007, 05:38 PM
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Worlds shortest joke: Yun
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Join Date: May 2007
Location: Riverview
372 posts, read 336,880 times
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Quote:
Originally Posted by HowdyYall
Your 3x income formula is so incorrect, this is 2007, not 1955 in mayberry NC.
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That's Century 21's formula |
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07-12-2007, 06:19 PM
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Senior Member
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Join Date: Mar 2007
1,838 posts, read 1,496,184 times
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Quote:
Originally Posted by SRQ single
"Average Joe's" make up the majority of Americans. Do you think treating the majority like a minority will benefit anyone at all?
Actually yes just like in metro areas of say coastal cali NY DC etc the wages of the average Joe will increase because you are correct their Jobs/services are needed... I also think the 2-3X income is a figure that a bank uses to qualify one for a loan...And there are homes out east or west dependent on which coast in fl you are on that will meet the 2-3X income criteria.
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You make a very important point. Wages in FL have failed miserably to keep pace with housing costs. |
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