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Originally Posted by Sightseek
A lot of Mortgages are assigned right at the closing table, which is part of the problem now. These secondary lenders have been burned and now are tightening up their requirements.
It's insane how much the price of real estate varies in this country. When I lived in RI, you couldn't get a decent house that you would be willing to raise a family in for less than $290K+. When I lived in Kentucky, I lived with someone who had a 3 bedroom, 2 bath ranch on some land that was built to their desire for less than $90K. I think the housing prices in NY are extremely fair. You know things aren't looking good when Home Depot reports losses.  |
you ought to see what a three bedroom, two bath house goes for here. it's all relative tho--wages down here for many is pathetically low. we bought our house for about 1/5th what we'd pay for it in maryland, where we used to live. it's funny tho, we both make far more here than we did there, and the cost of living is loooooow.
but i'm not complaining!!