Wednesday, Sept. 26, 2007 | In “The Lure of Wichita” Mr. Curtis has his head on straight.
He is totally correct about the situation here in San Diego (County). There are absolutely no houses available for low or middle income people.
Other than city employees, wages and salaries for the average worker are not commensurate with the prices of homes.
Realtors and developers in the housing market, in my opinion, have caused this problem through greed Then the mortgage lenders jumped in and they could care less who they loaned money to, all the time knowing what the outcome would be. They all knew the exotic loans would cause the foreclosures we are seeing today. These leeches must have known; they are supposed to be professionals.
These houses or condos are nothing but frame houses; they have no structural subsistence and they all look alike. Yet, the asking prices (including what are considered “affordable”) start at $250K up to over millions. Then they include HOA fees. This entire housing market has been nothing but a scam for developers, Realtors, and construction material companies to line their pockets. The history of this inflationary habit is a crime and disgrace.