Home prices near a double dip (6 straight months of decline)

[Loveshiscountry]

Originally Posted by newonecoming2

I don’t care about who buys or doesn’t buy a house. I want the economy growing and to get that we need housing prices going up. In order to get that you need more demand and we are way over built as it is so we need more buyers for our existing homes.

If you up the minimum wage to $30/hr everyone with a full time job even the teenagers would have the income to be able to buy a $180k house.
That is why we would need to put a large amount of cash into the consumers pockets without there being a corisponding bump in debt. Give them cash that will stimulate the economy.I’m not trying to raise the worth of those jobs. I’m trying to inflate the price of houses. So you inflate the wages of those low worth jobs. Wage price inflation is what I’m talking about. That would still hold true if we inflate the wage structure.That doesn’t fix the economic problem of over banking. We need our debt to come down or our income to come up. Really? Have you looked at the wealth distribution in the US over the last 40 years? In 1981 there was a discontinuity in the curve. The rich started getting richer faster. Upping the minimum wage will or should tend to reverse this trend

LAMO great sarcastic post

at first I thought you were serious but when u said "If you up the minimum wage to $30/hr everyone with a full time job even the teenagers would have the income to be able to buy a $180k house."

then I knew you were joking since if minimum wage was $30/hr cars would be 180k, not houses

[texdav]

Its just a corrction of the market really. The market had reason for the bubble which was easy credit and got above historivcal 65% of homeownership. Now the problem is not only market people late to the bubble below cost but new owners having difficulty getting fiancing from thigthen credit standardsplus investors having a advantage on buying foreclosures. Plus rent is going with more in the market now to rent.