I often think to myself that it would be super nice to get out of the mid-west and live somewhere that's warm year round with access to the ocean, mountains, etc. But, then I read articles like this and I think its just not worth it. I can't imagine having a mortgage this big! And I doubt all these people are wealthy enough to pay cash. So, its clear that a lot of people are signing up for massive amounts of house debt. The realtors are getting nervous that the market isn't sustainable and I tend to think they're right. But, who knows how long prices will keep going up like this. Maybe if I'm serious about moving in the future I'll get lucky and be able to buy during a down swing just like 2008/2009.
http://www.latimes.com/business/la-fi-spring-market-20170425-htmlstory.html
http://www.latimes.com/business/la-fi-spring-market-20170425-htmlstory.html
Comment