S/O about the economy

mlm1128

I work in the financial services field, so maybe i am jaded by a lot of this.  All of the media coverage really causes a boat load of additional work for me, so take my comments with a grain of salt.

I have been with this company for almost 11 years.  I have watched the market and housing prices become so over inflated it is beyond ridiculous.  i think alot of what is happening is media driven.  I also think alot of it that things are returning to where they should be.  The market should have never been so high.  There are lot of stocks that should have never been selling for what they did.  And let's be honest...a 750 sq ft house should NOT cost 1/2 a million dollars regardless of where it is located. 

 

firefightersgal

I totally agree.  I'm also very thankful to be in Kansas.  We are effected by all of this, but not nearly as much as other areas.

eclaires

You're probably right.

My BIL and SIL own a house in the Arlington, VA area, and I know how much they paid.  And the thought of paying that much for what they got makes me sick.

kertybird

It's all about supply and demand.  When ANYONE can get a mortgage there is such a high demand that builders can build enough houses.  so the 750 sq ft house is worth a hell of a lot more!  But I think the media is where most people get their info so if the media says everything is good or bad,  most people don't know the difference.

shouldbeworkin

reminds me a lot of the tech bubble bursting and people crying over losing millions of paper money.  Sadly, this time, their homes are affected.  And, it seems to have a wider affect on the global economy.  But, if you look at the history of the market, it will recover eventually.  Usually within a year, but sometimes it takes longer.  I think this time it will.

ashleyvc1

I agree 100%  I am from MA where they had a huge bubble, now living in an area where you can get a great house in a good neighborhood for under 100k and have at least 1700 sq. ft.

mikeandmonica

I'm right there in the financial industry and I agree with you 100%. 

hopefulmom

I agree.  I'm in Michigan and even as depressed as we are (as a state) and the foreclosures, etc. I am amazed that the houses are still expensive.  My oldest DS would love to buy a house right now but they have NOT come down in price.  Well, maybe a few thousand...but not where they should be.