Korean Job Discussion Forums

[Tiger Beer]

http://www.economist.com/finance/displayStory.cfm?story_id=3722894

[SuperFly]

They've been saying that for about a year now here phx, but it's a sellers market...I just bought a fixer upper for 100K cash right off the I-17 and Bethany home. I'll sell it in three months for 145-50K after about 12-17K in materials...that's still good money. of course, I'll be splitting that profit with my brother, but hey, it's only a part time gig for me...

[peppermint]

Here in Korea, I'd say yeahid only because those million dollar apartments in Apgu are built just as shoddily as the ones everywhere else.

[bucheon bum]

no way housing prices will drop where I am (SF Bay Area). They might stop rising, but drop? hasn't happened yet in my life and no reason it would happen now. Don't know about the rest of the country or other parts of the world.

The economist said it is now a smarter move to rent than buy a house.

[mindmetoo]

[bucheon bum]

good theory. I think that will be especially true in the northern states, which haven't seen much population growth in the past decade or two. Throw in the baby boomer situation and property prices are bound to remain static or drop. On the flipside, I doubt real estate prices will drop in FL, AZ, and other warm climate states due to a) general migration to those states b) baby boomers retiring to traditional retiree spots.

[funplanet]

yep...

[Harin]

god doesn't create any more land. i highly doubt that housing price'd ever go downhill.

[Wangja]

Well, it has in the past, quite often and usually sharply.

There is a correlation between the cost of the "average" house and "avaerage" earnings.

In UK, the historical mean is around 4. Below that, house rpices are considered low and above high. At present, the ratio is over 5, implying that either houses are 25% over-valued and liable to a drop of 20% or that salaries are 20% too low and need to increase by 25%. Which is the more likley do you think?

Prices have always reverted to the mean, usually overshooting.

I see no reason why that should not happen again this time.

Although I talk about UK, the principles apply equally in the US and elsewhere.





Well, which way do you think the graph is headed next?

[Derrek]

Why did housing drop so much under Clinton?

[chiaa]

Where I am from and where I want to buy a house upon return, housing prices for new home are rising $3,000 A MONTH.

My brother bought a lot for 15.000 and in a year and a half the price has gone up to 40.000. A good part of this has to due to George Steinbrenner buying up a vast majority of the lots in the area.

[The Man known as The Man]

A friend of mine bought a flat in Vancouver near 4th and Main just over 4 years ago.

Bring on the Olympics!

[Wangja]

[bucheon bum]

[Wangja]