The housing market system is broke and corrupt... - Page 2
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Well, Americans don't pay what they want, but what the high interest rates from investors and banks ask for, plus the profit that the sales agents want to make too.
You see, the prices of everything are brought up or down depending on demand and supply. If the market wants to sell more of something, they lower the prices, and if they want to sell less they rise the prices. But like I said before, the rich investors and the wanna be rich agents drive prices up to make a lot of profit from the homes, making almost impossible for someone who makes $7.25-$10.00 an hour to get a loan and start owning a home. The interests rates can be tuned by the FED, but they can also put ceilings and floors on the prices basically on anything that they want to put it on. |