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Capitalism: U.S. home prices are not affordable
  • Vitaliy_KiselevVitaliy_Kiselev

    U.S. Home Affordability Report shows that the U.S. home prices in the second quarter were at the least affordable level since Q3 2008.

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    Annual growth in median home prices outpaced average wage growth in 275 of the 432 counties analyzed in the report (64 percent), including Los Angeles County, California; Maricopa County (Phoenix), Arizona; San Diego County, California; Orange County, California; and Miami-Dade County, Florida.

    https://www.attomdata.com/news/market-trends/home-sales-prices/q2-2018-u-s-home-affordability-report/

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  • 9 Replies sorted by
  • Vitaliy_KiselevVitaliy_Kiselev

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  • Vitaliy_KiselevVitaliy_Kiselev

    When in reality the facts show foreign buyers are only a teeny tiny percentage, and even then the Chinese are not even the biggest country foreign buyers are from!

    Interesting. As most publications I saw talk about this.

  • IronFilmIronFilm

    In NZ and Australia it is all simple - Chinese coming.

    Nah, there has been much discussion about this in NZ but mostly it is just political sh*tstirring and posturing to appeal to the xenophobias, or just simply to provide the politicians with a scapegoat to blame for the crisis other than themselves!! When in reality the facts show foreign buyers are only a teeny tiny percentage, and even then the Chinese are not even the biggest country foreign buyers are from!

  • Vitaliy_KiselevVitaliy_Kiselev

    @joethepro

    People live in cities as it brings lot of advantages.

    As for prices - I think this price rises are form of indirect taxation.

  • joetheprojoethepro

    I just think too many people live in large cities. There is an incredible amount of space and cheap housing in more rural areas.

  • Vitaliy_KiselevVitaliy_Kiselev

    @IronFilm

    In NZ and Australia it is all simple - Chinese coming.

  • IronFilmIronFilm

    That's what me and my wife are counting on here in California.

    Ditto here in Auckland. House prices (and rentals) are going mad.

  • Vitaliy_KiselevVitaliy_Kiselev

    Are we bad for hoping for a sequel to the 2008 meltdown?

    This time it won't be so subtle.

  • htinlahtinla

    What goes up must come down.

    That's what me and my wife are counting on here in California. Are we bad for hoping for a sequel to the 2008 meltdown?

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