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Getting real about real estate

money.cnn.com — For the past five years, the housing bulls have been trotting out one rational-sounding argument after another to explain why the boom made perfect economic sense.

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  • dankoleary, on 10/12/2007, -0/+1People outside of Californai have NO idea how bad things are. For example, my 800 sq. ft apartment in Losa Angeles costs approximately $1300 a month to rent. If I were to buy the same apartment and mortage it, my payments for the EXACT SAME PLACE would increase 2-3 times. It's crazy as hell. For what we pay for a ***** in the middle of the city, we could have a home in most other cities. GRRRRR.

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