yea some of the guys who predicited the first housing bubble are saying theres another one going on. its sad.Vegas still has some good housing deals. But the other two houses I have are the worth more than they ever have been. I've also lived in 3 other places, those houses also are very expensive. My first house that I bought in 1992 for $105K is for sale today @ $289K. I've seen housing prices skyrocketing these last 4 years. Last summer I was looking for a place with a dock, but between 2012 and 2015 prices went up about 50-60%. I found myself priced out of the market.
Ricky, Wells Fargo just introduced a 3% down loan, last week. I think it's a conventional loan. But we also have FHA loans, HUD loans, etc. there a ton of low down loans. What is historically low is mortgage rates.
Who says $15 an hour is a living wage? I could not live on that. I think that is brainwashing people. I could only live on $15 if I was receiving my pension too. The US average hourly income is about $25.50.
I never heard of that record high rent prices before. i mean seriously, you gotta be kidding me, i wonder why?
i dont look at average hourly income because it inflates the numbers. so if theres a group of 10 people, 9 of them dirt poor, and 1 of them a billionaire, that billionaire inflates the number but its not really representative of the situation. median income is a much better indictator which is roughly $17/hr.