Housing. You will never ever convince me that your average 1500 square foot house is actually worth nearly half a million dollars no matter where it sits. The damned thing better be lined with gold before I'll pay that much.
We bought our house right before the housing bubble burst. When we first started looking the mortgage and banks would allow us to take out a mortgage for up to $500,000. But I knew the crash was coming and ended up buying an $80,000 townhouse. Our bank and most mortgage companies did not want to work with us because we were buying well under our means. People also laughed at me (friends/coworkers) because I bought a cheap house, but after the crash some of them lost their houses and I ended up helping pay the mortgage for two close friends. Buying a house is a real big scam. My family and I just needed a place to live, sleep and hold some stuff, we don't need a status symbol.
Housing. You will never ever convince me that your average 1500 square foot house is actually worth nearly half a million dollars no matter where it sits. The damned thing better be lined with gold before I'll pay that much.
We bought our house right before the housing bubble burst. When we first started looking the mortgage and banks would allow us to take out a mortgage for up to $500,000. But I knew the crash was coming and ended up buying an $80,000 townhouse. Our bank and most mortgage companies did not want to work with us because we were buying well under our means. People also laughed at me (friends/coworkers) because I bought a cheap house, but after the crash some of them lost their houses and I ended up helping pay the mortgage for two close friends. Buying a house is a real big scam. My family and I just needed a place to live, sleep and hold some stuff, we don't need a status symbol.
Can't agree more. (source: lived in the Granite city, almost as bad a London despite being a fucking horrible black hole of hell)
Oh lord. What about a 1500 square foot house for several million? That's Vancouver for you. (And a lot of other metropolises, of course).