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Mr_Nice

Affordable Housing

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http://www.321gold.com/editorials/shedlock...lock123105.html

A brilliant article. Enjoy!

some nice snippets

Try this exercise: Walk into any car dealership and tell them you can not afford to buy a new car. They will find a way to make it "affordable" by stretching out the payments from 3 to 5 to even 7 years if they have to so that you can make the monthly payment. Does that really make it affordable?

Also let's not confuse affordability with value. Ownership costs vs. rental costs are at staggeringly high ratios in many areas. Can the average person really "afford" to pay 30-50% too much for a house or condo? That's how overpriced some areas are on a cost to rent basis. Can you afford to lose $100,000 on that $400,000 condo if the price drops next year? Somehow that question is not being asked.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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