Sunday, October 19, 2008

House Prices

I just don't get it. How can people afford to pay so much for a house? I watch some of those shows on HGTV, like My House is Worth What?, House Hunters, and so on. I can't believe some of these houses. They are nightmares and, often due to their location, asking for half a million dollars. Then there are the nice houses, but again the asking price is $300,000 or more. What gets me are the young, first time buyers. "We have a budget of $275,000." How? How can people afford that? I made a good profit from the sale of my first house, but I still couldn't afford more than $100,000 on my second. I make a decent salary, but I couldn't pay a $1,000 month mortgage. It was frustrating as in this area I could have found almost a dream home for under $200,000. At any rate, I'm happy with my home and I'll just continue to shake my head at the prices other people pay. Maybe this is why there's such a housing crisis.

2 comments:

PJ E said...

Please note, most of those houses are located in California, where both costs and incomes are drastically inflated. These shows are NOT based in what the rest of the country considers reality. I saw a house that was smaller and considerably crappier than mine on there that went for three times what mine will go for. I stopped watching.

Steph said...

I had to stop watching too. The fact that people would even consider paying those prices was too much for me. I live in a world where I have bills and my income will only stretch so far.