07-24-2006, 12:16 AM | #11 | |
Senior Member
Join Date: Jan 2006
Posts: 961
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Quote:
But I guess there is a really tight rental market too... at least there is in Los Angeles. Perhaps we are witnessing an historic division of land ownership that will come to redefine 'the American Dream,' putting home ownership permanently out of reach of a vast majority of working class people, like it is in many other countries. |
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07-24-2006, 12:20 AM | #12 |
Demiurge
Join Date: Aug 2005
Posts: 36,368
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no, you will witness migrations of people to areas with cheaper housing.
I'm not sure, but I believe house ownership now is the highest it has ever been. |
07-24-2006, 02:07 PM | #13 | |
Senior Member
Join Date: Jan 2006
Posts: 961
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Quote:
Sure, home ownership might be high right now, but what does that mean if the ratio of mortgage debt : personal income and the percent of risky loan packages is also extremely high? "Ownership" has a fairly specialized meaning when you are paying interest only on a loan that actually GROWS over time. And as for urban sprawl, that seems to be a different house of cards. Sprawl can only stretch as far as there are real jobs. It ultimately has to tap into some kind of real industry (ie. not service jobs like medicine and lawyering) to bring fresh money into the local economy. Last edited by Robin; 07-24-2006 at 02:34 PM. |
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