"Homes for the Homeless"

"Homes for the Homeless"

Monday, August 09, 2010

Still too high

The astronomical cost of housing, still far over what the majority can afford without having disposable income to stimulate the economy is one of the major reasons for unemployment.

"Investors" turned to real estate many years ago instead of the Stock Market. This is one of the major reasons for over inflated housing costs. The average consumer then got involved and jumped in buying homes they really could not afford. Still today there are many people out there who now think housing is an "investment" which it is not. It is a long term investment, which in 30 years will increase somewhat in value (economic history of real estate) , however, not the enormous profits which people expect to acquire immediately. It is true that many became very rich when they sold the homes and buildings that they paid 30,000.00 for half a million up to a million. Houses are not worth that much and the consumer needs to wake up and say NO! to ridiculous prices. I've also read several articles recently that people who are millionaires and live well pay low prices for their homes (as low as 30,000).

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