william the wie
Gold Member
- Nov 18, 2009
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With the $750,000 mortgage deduction, $10K SALT deduction and higher mortgage rates a family making no more than $100,000/year cannot afford to buy or sell inside the urban areas of the Blue Wall. I found such warnings from CNBC/NBR and Bloomberg confusing until I reviewed some of the posts on threads I had posted and did the math. Here in Northeast FL there are plenty of 2K sq ft houses in good neighborhoods selling for @ $250,000. Those same houses would be in the neighborhood of $1,000,000 in most of the urban and suburban Blue Wall that I checked. (My wife had a second hip replacement seven months ago and I have been checking on a lower maintenance house. That's how I found out about my own local housing prices) So for most of the Blue Wall even with help from family and DIY remodeling homes are no longer a realistic dream.
When will the symptoms of this freeze up become obvious and what will they be?
When will the symptoms of this freeze up become obvious and what will they be?
