rankandfile
You havent read enough of my posts to get my sarcasm [zero rate,etc]. You are correct that there is no reason for a house to double in last 4 years with wages up only a few % a year, actually below inflation. Its all because of the ARMs. Dont get me started on health insurance going up 10-15% annually for 5 F’in years.
No inflation here, as we watch Mr T wring the necks of NAR and Congress and Fed for LYING. [damn russians must be hacking my computer again]
SD wages are ridiculously low, about the same as most other cities that have a much lower cost of living. The UT has had articles in the last few years about bus drivers and other lower income people moving to vegas. Why are lower income people still living here and renting at ridiculously high prices? Everyone wants to live here?!? OK, no one wants to get kicked out of towm, esp if they grow up here, even if it would be better for their family. If we didnt purchase our first condo (later to a house) in 99, I know I would have been extremely sad (understatement of the year) and would have seriously thought about leaving myself. If one had the misfortune of graduating from college in last 5 years even with a good job one is totally hosed and cant afford jack. All because one is 5-7 years too young!! It would take 20 years of wages to save up the 250K the median went up in last 5+ years.
There, I think that neatly summarizes your frustration. Shouting is not going to help you get your point across. Your posts are generally great. But us bubbleheads have been so wrong for 4 years, that we have to stick to actual facts instead of rhetoric. That’s why I keep asking PS to tone it down. She takes good data and then extraplates it to the point that she is like the NAR in reverse.
