Friday, August 12, 2005

What $850,000 buys in a pleasant Oakland neighborhood

Not far from where I live a small three bedroom home with no usable backyard and a micro front yard sold for $850,000. The rear of house sticks out on a very steep slope.

I estimate the conventional mortgage carrying costs with taxes and insurance (including earthquake) at almost $60,000 annually.

Only a generation ago my area was very middle middle class. I bought my home from the estate of the widow of a beauty shop operator who paid about $20,000 for it in the early 1960s. 5 years ago paid more than 25 times that. Was a bargain because the house was a fixer upper!

Why are housing prices so out of control. The two main culprits are feminist careerism and illegal immigration.

30 plus years of the majority of women occured without an increase in REAL wages. All that extra money sloshing through the economy drove up the prices of the things people really NEED, e.g. housing, education and medical care. Just basic Adam Smith supply and demand stuff.

Illegal immigrants have to live somewhere. So they've taken up what's left of the afforable housing stock particularly in urban areas. Now the federal government is actually helping illegals get mortgages to buy homes!!!!!!!!!!!!!!!!!!!!!

DOESN'T ANYONE INSIDE THE BELTWAY CARE ABOUT THE FUNDAMENTAL NEEDS OF AMERICAN CITIZENS?????????????

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home

Google