Reply #49: That's the Way it is Around Here in Va Too [View All]

[specimenfred1984]

Everything, and I mean 1000s of homes and townhomes are selling for $500,000 - $1,400,000 and of course, nobody is buying them. With a large chunk of the population aging and that chunk of people being the ones with some minor wealth accumulation, it doesn't make a bit of sense to be trying to sell 5,000+ square foot Mcmansions that an older person can't even walk around in, much less afford.

A home that was considered lower class just 2 years ago, albeit near a country club, is now "being offered" at $650,000. It won't sell for that, it's a hyper-inflated fraud being pushed by an entire system of fraud.

Something else going on around here is the rental homes always have at least 7 cars parked at them, because it takes about 7 incomes to be able to afford it. This NYT article says that for the 1st time ever, there is nowhere in the entire U.S. where a person can now afford rent on a minimum wage income:

http://www.nytimes.com/2006/04/02/us/02cars.html?hp&ex=1144040400&en=818f2f244457111d&ei=5094&partner=homepage

--- ...Last year was the first year on record, according to an annual study conducted by the National Low Income Housing Coalition, that a full-time worker at minimum wage could not afford a one-bedroom apartment anywhere in the country at average market rates. ---