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Old 10-23-2016, 06:13 PM
 
Location: Mid-Atlantic
25,113 posts, read 24,004,516 times
Reputation: 31032

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Quote:
Originally Posted by nightlysparrow View Post
I think if you asked most people where in the US they would live if they could, they wouldn't choose Wichita, Omaha or Des Moines.
I wouldn't. They're too far from an ocean.
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Old 10-23-2016, 06:20 PM
 
4,498 posts, read 2,688,857 times
Reputation: 4115
Being expensive doesn't suggest that costs are out of whack. Lots of things are expensive in the world. Usually supply, demand, and production cost are involved, which is true for coastal real estate just as it is for diamonds.

So where does it go from here? It's possible that coastal real estate will drop in value, and it's a fair bet that Middle America real estate will rise in value in some places, like walkable big cities perhaps. But my bet is that the coasts will continue to have value, especially places more than a few feet above sea level.

So buying here is a big bet. But big bets sometimes result in big wins as values rise for the same reasons that made them rise before. Those Middle America cities might be bargains, and some neighborhoods might rise quickly, so that's a good opportunity if you can predict that. But as metros they'll need faster population growth and maybe a little scarcity for real estate to grow much in value on average.
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Old 10-24-2016, 10:56 AM
 
Location: Ohio, USA
1,085 posts, read 1,350,040 times
Reputation: 970
Are people detached from reality?

I fixed the question for you.
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Old 10-24-2016, 11:27 AM
 
7,746 posts, read 4,595,731 times
Reputation: 8461
There's an interesting post hidden in the OP, if you ignore the thread title.
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Old 10-24-2016, 02:59 PM
 
2,038 posts, read 1,032,813 times
Reputation: 2692
Quote:
Originally Posted by WanderingFar View Post
Most of the US population lives on the coasts. Why are we the ones "detached from reality?" Why are pickup trucks, Costco and mowers the standard for reality?

If you look at the way the rest of the world lives, I would say it's Middle America that's living in an alternate universe.
SO, this is really kind of funny. I've never owned a pick-up truck, feel extremely lucky to have a beautiful yard to mow, and I'm pretty sure people on the coasts shop at Costco, as well. Either that, or all the many, many located on the coasts, will be going out of business, soon. Too bad you feel it necessary to stoop to stereotyping to try to make your point. You might find it interesting, that after Texas, California sells the most pick-up trucks, and that's the reality. California is the number one agricultural state, so it makes sense. BTW, don't you mow your yards on the coasts?
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Old 10-24-2016, 03:14 PM
 
473 posts, read 360,491 times
Reputation: 1030
Quote:
Originally Posted by Enean View Post
SO, this is really kind of funny. I've never owned a pick-up truck, feel extremely lucky to have a beautiful yard to mow, and I'm pretty sure people on the coasts shop at Costco, as well. Either that, or all the many, many located on the coasts, will be going out of business, soon. Too bad you feel it necessary to stoop to stereotyping to try to make your point. You might find it interesting, that after Texas, California sells the most pick-up trucks, and that's the reality. California is the number one agricultural state, so it makes sense. BTW, don't you mow your yards on the coasts?
I was literally taking those three examples from the post ahead of mine. Serious Conversation said: "They live in small apartments. A pickup truck, mower, and a costco are alien concepts to them."

I wasn't the one stereotyping. Read the entire thread before you pick on someone.
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Old 10-24-2016, 04:18 PM
 
Location: Los Angeles
3,555 posts, read 2,244,809 times
Reputation: 10641
As for Los Angeles, at least, the real estate market relies on 'The Greater Fool' theory. As long as there's someone who will pay more than you did, prices will rise. It has worked pretty well except for that whole 2008 thing.
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Old 10-24-2016, 04:32 PM
 
2,038 posts, read 1,032,813 times
Reputation: 2692
Quote:
Originally Posted by WanderingFar View Post
I was literally taking those three examples from the post ahead of mine. Serious Conversation said: "They live in small apartments. A pickup truck, mower, and a costco are alien concepts to them."

I wasn't the one stereotyping. Read the entire thread before you pick on someone.
My bad....I apologize.
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Old 10-24-2016, 04:39 PM
 
Location: Crooklyn, New York
28,295 posts, read 26,300,037 times
Reputation: 11754
How would monetary policy result in an economic bubble on the coasts and the coasts alone?
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Old 10-24-2016, 04:42 PM
 
473 posts, read 360,491 times
Reputation: 1030
Quote:
Originally Posted by Enean View Post
My bad....I apologize.
Thanks!

(And I should have quoted him to make things clearer.)
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