How will our kids afford to live here?
More depressing news on the real estate front for Mr. and Ms. Average just starting out. Rent, like the sale of houses, is shooting through the roof -- and income for us townies isn't really keeping pace. For the generation just coming up, that should be a big worry. My friends and I have moved from gleefully talking about how much our homes are worth to concern about how our children will find a place to live if and when they settle in South Florida.
Who's paying these ridiculous prices anyway? New Yorkers?
Who's paying these ridiculous prices anyway? New Yorkers?
posted by Ana Veciana-Suarez at 8:26 AM
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I don't know what to tell you -- a 3/1 just went for over $700,000 in my neighborhood. A realtor friend told me that she is sure that they will get their asking price! Originally, the house would have been considered a STARTER home. There are few young couples (or old couples) that can afford that kind of price for such a small house.
More and more, young people are buying condos and townhouses, at $200,000 plus, because they cannot afford a single family home.
This real estate bubble will have to burst soon, or so I hope.
The rest of us are unwilling to sell and relocate (even if we are in need of less space after the kids moved out) because of how the tax increase will kill us if we buy at current prices.
The only winners here are the speculators and real estate agents - the rest of us are struggling.
Move to GA! Or ... NC! SC! Or come to TX! All these home owners I know in south FL complain and gripe and moan about their inflated house prices. Isn't it ironic that they're so terribly unhappy while sitting on a pile of cash that can buy them a mansion elsewhere in the country?
But if you are not willing to move - for whatever reason - then, please spare us: be quiet, stay put, keep paying your exhorbitant prices, and brace for the day when you'll have to wave your kids good-bye as they get out of Dodge for an affordable life elsewhere. Don't blame it on the realtors, they won't sell a thing unless there's a buyer somewhere. It's a collective problem with many causes. It may take a long time to solve it.
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