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This page contains all of the posts and discussion on MemeStreams referencing the following web page: Trapped in the Bubble - New York Times. You can find discussions on MemeStreams as you surf the web, even if you aren't a MemeStreams member, using the Threads Bookmarklet.

Trapped in the Bubble - New York Times
by janelane at 3:03 pm EDT, Jul 28, 2005

In the hottest markets, owners whose homes have skyrocketed in value find themselves in a frustrating paradox. They were supposed to be the lucky ones: they bought in frenzied real estate markets like New York and Los Angeles three or more years ago and have amassed hundreds of thousands of dollars on paper.

But as they try to roll that considerable equity into a bigger home, many are unpleasantly surprised to find that the cost of real estate at the higher end has outpaced their ability to buy. For homeowners who have watched the torrid housing market create wealth as if by magic, scanning the classified ads or visiting a few open houses serves as a harsh reality check.

The ugly side of rising real estate prices. Yay for living in Hot-lanta where expecting to pay ~ $1 per square foot won't get you locked away.

-janelane, comfortably


 
 
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