On the original post – as people have simply pointed out, there are cycles and we’re currently in a housing slump and there are no fundamental reasons or emotional reasons it will correct anytime soon. With inflation – income and prices increasing year after year, will it go back to what it was 10 /15 years ago? Probably not. But they will go back to realistic levels because as others also pointed out, the days of inprudent financing is over. Many of the economic drivers for the home prices didn’t exist during the boom – such as job and income growth in SD (stayed relatively flat to modest growth), population growth driving housing demand(negative growth amongst professionals), etc. Why did prices triple in some instances – speculation, overexuberance, firms creating ridiculous financing aka wacky financing as someone else called it and lending money clearly to individuals who didn’t qualify. if you want a realistic idea of what the pricing levels should be- look at the neighborhood you’re evaluating, the home values pre-boom, and then appreciate that home by 5-10% per year (take the average appreciation over the last 30-50 years), arriving at the year you’d like to buy.
The divorce discussion – I’m sorry to hear about the men who didn’t choose wisely. Don’t you men know that a third of woman nationally out-earn their husbands? Perhaps you should have chosen more wisely than blaming it on the woman. Didn’t you test drive the car before you bought it?I firmly believe you get what you chose – you chose someone who couldn’t contribute financially or didn’t want to, but met your wants in other ways – whether she is hot, fun, nurturing, loving, subservient, intelligent, undemanding, has child bearing hips, cooks & cleans – I hope she contributed something positive to your life or you would have really been insane to have married her. Its not anyones place to judge why you married her, but the point it, either know what you’re getting into and lie in the bed you made, but don’t get married and then bitch about the choice you made. You could have chosen someone who is more of an equal across the board.
