|
even the price drop another 50%, people still can\'t afford it. Many people haven\'t seen their wage is catching up to the inflated price for the last decades. Minimum wage is already at $13 buck an hour, people who used to make $20+ per hour twenty years ago is still making the same. I haven\'t had pay increase for more than 10 years.. how would ordinary people afford it.. Most importantly, the inflated rental income still can\'t justify the high real estate price. After you factor in maintenance fee, property taxes, insurances, etc.., your rental income won\'t be able to beat the inflation. Think about 10 or 20 years down the road, a growing aging population all need the cash flow to sustain their retirement living, they certainly can\'t sell the brick or bedroom of their properties to free up the cash flow. Just like Warren buffet said, in the short run, it\'s voting machine but in the long run it\'s weight machine and weight counts. Look at how much debt people around us carry nowaday, it is just too scary to mention.
|
