my wife and I are small business owners and have been trying to buy a house for the last 2 years in Seattle's market.in the last 2 years prices have gone up 35 percent and are anticipated to go up another 10 percent next year. Prices during the'crisis' only fell by about 20 percent. 900 square foot s*** boxes with no yard built in the 30's a half an hour's drive outside of Seattle here runs about $200,000, and when we were kids we would consider house is like these the pork peoples houses. Your average1200 sq foot in the city is about $350k. sure we'd love to move out of Seattle but unfortunately we've spent the past 5 years building a clientele and established our business in the city.also there seems to be more houses on the market than ever beforeas people who bought at the peak of the market are now trying to break even and sell.alas the prices continue to go up. I was talking to my dad the other day about the first house he bought in 1964 in Florida which cost him about a year of his salary. For us or anyone in this day and age to buy a house at the cost of a years salary is impossible. Sure we could mortgage the rest of our lives to pretend we own somethingbut it would still be a piece of s*** . now that we consider ourselves upper middle class it's the peak of our frustration to find that we can only afford what we used to consider a poor persons home in a shitty dangerous area. the American Dream is dead! I'll say it again the American Dream is dead! Long live neo-serfdom!
Want DP delivered to your inbox daily? Subscribe here: