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New Depends on where they live
property values may be more on the west coast. A house and land that cost $120,000 in the Missouri, may cost $210,000 in California. Maybe that was the cheapest house in their neighborhood.

Here in Missouri the place I live in has higher property values than the place my mother and father live in, which is no more than 10-15 miles away. There are a lot of farms and businesses near my property, and mostly residential near my parent's place. Down a few streets and a mile or so away is a lot of mansions worth a lot. The Behlmann Mansion got tore down to create Behlmann Farms, where they are building new homes. It is not that far away from my house and may send property values up again.

Also they are paying more in property tax and interest, which means they will get a bigger tax refund.



"Lady I only speak two languages, English and Bad English!" - Corbin Dallas "The Fifth Element"

New No it doesn't.
It's not the price of the house, it's the ratio of the money they borrowed to their income.
--\n-------------------------------------------------------------------\n* Jack Troughton                            jake at consultron.ca *\n* [link|http://consultron.ca|http://consultron.ca]                   [link|irc://irc.ecomstation.ca|irc://irc.ecomstation.ca] *\n* Kingston Ontario Canada               [link|news://news.consultron.ca|news://news.consultron.ca] *\n-------------------------------------------------------------------
     Article on credit card debt and two income families - (JayMehaffey) - (9)
         Re: housing. - (mmoffitt) - (7)
             That's insane - (drewk) - (6)
                 Same as rent. - (imric)
                 People overbuy houses - (JayMehaffey) - (2)
                     The term "house poor" comes to mind. :) - (a6l6e6x)
                     Loans for downpayments? I've one better. - (mmoffitt)
                 Depends on where they live - (orion) - (1)
                     No it doesn't. - (jake123)
         So what they're saying is.... - (gdaustin)

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