Your morning commute~

[WRXtranceformed]

sure they'll increase again, but who's to say they're done decreasing? until my peers can afford homes in reasonable areas, the market is inflated and has nowhere to go but down. people retire, people die, people leave areas... if there is a giant chunk of the age bracket unable to buy these homes, it doesn't work.

I agree with you, it's really frustrating for the majority of the people out there. And now, honestly, it has much less to do with the building industry and pricing as it does with the current state of the mortgage industry. Big lenders are going under, you have to have damn near perfect credit under full documentation loans to get reasonable rates, and jumbo loan rates are so high right now. The building industry, and resale market, are simply lowering prices to compensate at this point.

For most young, single people in this area, owning a home is simply not possible. What do you think was one of my biggest motivators to move? I set a personal goal for myself to have purchased a home by October of this year, and unless I magically started making 3 times what I make now or I got married, it wasn't possible here. And frankly, to me there are not enough valid reasons to have to pay a premium to live in this area.

Now, if you go in with someone else (wife) it's much more attainable. Two people even with somewhat low paying jobs can afford ~$417k (max conforming limit) home as long as their expenses are low. I know because I just sold one to a super nice young couple with a combined income of about $95-100k.