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KamaAina (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 12:20 AM Original message |
Say bye-bye to home ownership |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 12:25 AM Response to Original message |
1. Here's what I don't understand. |
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donco (717 posts) Send PM | Profile | Ignore | Mon Mar-07-11 12:33 AM Response to Reply #1 |
2. Check out what the interest rates |
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Celebration (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 12:41 AM Response to Reply #2 |
3. ALL interest rates were high then |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 12:44 AM Response to Reply #2 |
5. They were high -- we got a mortgage in 1979. |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 05:02 PM Response to Reply #5 |
27. When we bought our first new refrigerator, we looked for one with a dent on the right side |
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sufrommich (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 12:42 AM Response to Reply #1 |
4. Here's an interesting article about home buying from the 1950's |
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elehhhhna (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 09:33 AM Response to Reply #4 |
22. VA loans propelled homeownership in the 50's |
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HughBeaumont (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 09:42 AM Response to Reply #4 |
23. In 1969, the average home cost 17,000 dollars while the average income was around 9,000 per year. |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 12:45 AM Response to Reply #1 |
6. (1) You had to put down 20-30% of your own money |
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sufrommich (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 12:48 AM Response to Reply #6 |
7. Yep, I think the average house was 1000 square feet with |
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MineralMan (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 09:14 AM Response to Reply #7 |
20. My wife and I live in one of those houses now. Three bedrooms, one |
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Zoeisright (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 12:49 AM Response to Reply #6 |
8. And most families could do it on one income. |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 02:41 AM Response to Reply #8 |
11. since they only took one income into account, you had to be able to or no loan |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 12:49 AM Response to Reply #6 |
9. But all of that was do-able for most middle class families back then. |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 02:44 AM Response to Reply #9 |
12. We had 3 kids in 5 years..one income and a 1004 sq ft house |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 01:45 PM Response to Reply #12 |
25. The same thing happened when I went to Zillow. |
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Sherman A1 (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 03:59 AM Response to Reply #6 |
14. I got a 5% down loan in 1977 |
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kelly1mm (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 01:54 AM Response to Reply #1 |
10. Houses then were 3 br 1 or 2 baths. The parents got one br, girls |
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MineralMan (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 09:17 AM Response to Reply #10 |
21. Well, in the midwest, those houses all had full basements. |
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JDPriestly (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 03:54 AM Response to Original message |
13. Privatizing the home mortgage market makes ideological sense to conservatives, |
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jtuck004 (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 04:38 AM Response to Reply #13 |
15. Who profits by raising interest rates? |
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eridani (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 05:55 AM Response to Reply #13 |
16. An alternative to cashing out |
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jp11 (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 06:58 AM Response to Reply #13 |
18. Government is on corporate payroll. |
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JDPriestly (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 03:22 PM Response to Reply #18 |
26. Excellent analysis, jp11. |
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n2doc (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 09:05 AM Response to Reply #13 |
19. So that the wealthy can buy up those houses at fire sale prices |
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Lastactiongyro (254 posts) Send PM | Profile | Ignore | Mon Mar-07-11 06:00 AM Response to Original message |
17. This is a good thing, the banks and such will destroy themselves |
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rdking647 (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 09:50 AM Response to Original message |
24. theresno freddie or fannie |
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Shagbark Hickory (1000+ posts) Send PM | Profile | Ignore | Mon Mar-07-11 05:07 PM Response to Original message |
28. Home prices need to be controlled by the government. Mortages = pyramid scheme. |
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DU AdBot (1000+ posts) | Thu Apr 18th 2024, 04:58 AM Response to Original message |
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