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Redfin Real Estate Forums :
Los Angeles :
Re: Bizarro World
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Bizarro World
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PonziScheme
Regular Contributor
Posts: 102
Registered: 05-12-2009
Message 1 of 31
Viewed 720 times
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Unemployment and underemployment is at a historic high not seen since WW2 and the Great Depression, yet the price of housing continues to go up. I make $90k a year and yet, I can not afford to buy a house in a neighborhood where I won't get shot or have to move to IE. But illegal aliens own their own house and our president and government believe we should do everything we can to help people that make $20k a year live in a $400k house. When is this madness going to stop? When is a poor average Joe living in LA making $90k a year with over $100k in down payment be able to afford a decent house??? Oh yea, now they are going to extend the $8k of free money till April...driving up the cost of housing. Thanks, Uncle Same!
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10-28-2009 02:10 PM
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Re: Bizarro World
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I_hate_realtors
Regular Contributor
Posts: 314
Registered: 06-18-2009
Message 2 of 31
Viewed 704 times
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PonziScheme wrote:
Unemployment and underemployment is at a historic high not seen since WW2 and the Great Depression, yet the price of housing continues to go up. I make $90k a year and yet, I can not afford to buy a house in a neighborhood where I won't get shot or have to move to IE. But illegal aliens own their own house and our president and government believe we should do everything we can to help people that make $20k a year live in a $400k house. When is this madness going to stop? When is a poor average Joe living in LA making $90k a year with over $100k in down payment be able to afford a decent house??? Oh yea, now they are going to extend the $8k of free money till April...driving up the cost of housing. Thanks, Uncle Same!
They (the GoveMint) will continue to do it until one of the following occurs: 1. Riots in the streets 2. China stops buying our debt forcing the fed to raise rates (keeping houses unaffordable unless you have a 100K down payment) 3. The American people vote ALL incumbents out and put people in power like Ron Paul and Peter Schiff I don't think people realize how corrupt the government really is. Once they figure it out they will take action.
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10-28-2009 02:31 PM
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Re: Bizarro World
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amydevemma
Super Contributor
Posts: 1249
Registered: 04-23-2009
Message 3 of 31
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How does an illegal alien own his own home? When I obtained a home loan, I had to provide my social security card, my drivers license, my tax returns, and my first born child. I suppose they could buy one with cash... but what illegal alien has all that cash? They could buy their citizenship if they did.
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10-28-2009 02:41 PM
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Re: Bizarro World
[ Edited ]
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stop_bailouts
Regular Contributor
Posts: 496
Registered: 06-16-2009
Message 4 of 31
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My understanding is that the same mistake was made during the Great Depression. Unemployment was rampant, yet price-fixing was tried as the "solution". "Let's see...nobody's making any money - I know, let's charge MORE for stuff". Duh, gee George - makes sense to me. Message Edited by stop_bailouts on 10-28-2009 02:42 PM Message Edited by stop_bailouts on 10-28-2009 02:43 PM
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10-28-2009 02:42 PM
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Re: Bizarro World
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dbdynsty25
Regular Contributor
Posts: 52
Registered: 06-12-2009
Message 6 of 31
Viewed 660 times
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amydevemma wrote:
How does an illegal alien own his own home? When I obtained a home loan, I had to provide my social security card, my drivers license, my tax returns, and my first born child. I suppose they could buy one with cash... but what illegal alien has all that cash? They could buy their citizenship if they did.
I'm pretty sure they were being dramatic and they were embelishing a little bit.
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10-28-2009 02:57 PM
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Re: Bizarro World
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fed_up
Regular Contributor
Posts: 54
Registered: 02-12-2009
Message 10 of 31
Viewed 571 times
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JustSomeGuy, It's not a matter of 'wants matching means'. Who are you kidding? To purchase an 'average' home of 1800-2000 sq. ft without upgrades and in an area where you would feel comfortable sending your kids to school, you're looking to pay $525-$550k. PITI with 20% down is about $2800/mo. Making $90k/yr means that after taxes your taking home about $5600/mo. Do you really think that 50% of your take home pay is acceptable for a mortgage payment to buy an 'average' home that still needs updating? You still have auto expenses, food, utilities, gas, and all of that other stuff. Home prices are still out of reach for those who choose to live responsibly.
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10-28-2009 04:39 PM
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