Thursday, June 05, 2003
Great, Now I'll Never Own a House
This article in the New York Times today features a growing trend in the real estate market: parents buying houses/condos for, or in partnership with, their children. As if competing in the real estate market as a single person isn't tough enough against double-income couples, now the double-income couples are calling in their wealthy parents to drive up the prices. Now, it's one income against at least 3 and possibly 4 incomes. It is my sincere hope that the entire residential real estate market--except for my mother's home, as she is about 4 years from cashing out--goes right in the crapper!
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