Quote:
Originally Posted by Lycanmaster
The bolded is why the real estate has become a glorified PONZI SCHEME! 
A market that has been manipulated by the Federal Reserve to prop up the dying husk of the US economy, even though the housing prices aren't even remotely in line with what the local residents make in "hot" markets.
A buyer who sells only gains if they sell in inflated market and then buys a much cheaper house in an area with much lower cost of living. Of course, that then ends up driving up housing costs dramatically in those areas as a result. Which then accounts for the anger against California "refugees" in places like Idaho or Oregon for instance... |
Ponzi scheme ? Tell that to my friends that gross roughly $180k ish, and live in a $500k canal front home with a $150k powerboat on a hoist out front. They leap frogged their way up, taking advantage of that "ponzi scheme"....
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