--- In FairfieldLife@yahoogroups.com, akasha_108 <[EMAIL PROTECTED]> 
> off_world_beings <[EMAIL PROTECTED]> wrote:
> > > We appear to be talking two different things. I am referring to
> the disparity of rent and mortgage payments for the SAME property, 
> > > same exact house. 
> > > On the other hand, sure, one may live in a multi-family 
> > and decide to move to an new neighborhood, with a yard, probably
> better schools, more square footage, and sure, the mortgage payment
> will  be  more than the rent. But the property is also much more 
>  substantial. 
> > Oh, ok. All you are talking about is how one area becomes harder 
> > live in for the working people there. This happens in many 
> NO. Thats not the phenomenon that I am talking about. I am 
refering to
> most major housing markets across the US where there is a strong
> divergence for rents vs mortgages for the same properties. The
> divergence is unprecedended. It is is one of the things strongly
> signaling a leveling or decline in US housing prices -- at least in
> major west coast, east coast and florida markets. >>>

Nope, not true, exaggerated by media and geeks. 
Not in my area. A moderately primo area.

> This  and other factors are:
> 1) Unprecedented divergence of rent from mortgages (for 
> 2) Unprecedented lack of affordibility of housing. In the SF Bay 
area only 15% of new buyers qualify for the median priced home.)>>

Yep, the Lake District in England has been much worse than that for 
decades. WHo cares? I care care nothing about California and their 
silly people living in the desert because they are afraid of the 
cold. Too many people, too hot, not enough water. Tough luck.

> 3) Unprecedented levels of new construction in major markets which 
is not tied to population growth.>>

It is in many states. Period. Perhaps not yours.

> 4) Unprecedented holdings of 10 year Treasuries -- the bench mark 
for US mortgage rates by foreign investors, the leading one being the
Chinese -- who are begining low reduce holdings, which will result in
> higher mortgage rates.>>

So what? The Chinese own my house until I pay it off. I don't care.

> 5) Unprecedented use creative financing for home buyers -- which 
makes them very vulnerable to interest rate increases.>>.

Like the 6 percent cap previously discussed?

> 6) Leveling or declining prices in major housing markets 
beginning. >>>

Nope. My state has a big non-stop housing  market boom and 
population increase and low unemployment and high quality of life. 
And not far away in Canada, within weekend holiday homebuyers reach 
back and forth, the housing boom is a non-stop freight-train. You 
better run fast.

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