General > General Technical Chat
First house for a young man
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tronde:

--- Quote from: cdev on July 06, 2017, 09:53:05 pm ---Tronde,

Here in the US it emerged that several banks - big banks, were actively committing fraud so that more people would be foreclosed on so they could take the entire asset. They totally got away with it.


It was their word against the banks and the banks got away with it. Even when one very large US bank was forced to pay a settlement, it worked out to around $300 per family foreclosed on. They had paid off their martgages or made the payjments they were supposed to but still lost their homes. How much was the compensation. the bank as forced to pay a settlement that worked out to a very small sum, of which the lawyer who brought the class action lawsuit got around a third. The payment was a few hundred dollars per family.

Someday, those bankers will pay.

--- End quote ---
I have read "Who Stole the American Dream?".
https://www.amazon.com/Stole-American-Dream-Hedrick-Smith/dp/0812982053

Seems to be quite OK with the the facts, at least as we see it from Europe.

Since bluescull can't get any kind of loan, the house should be rather safe from the banks as long as he also owns the land.
coppice:

--- Quote from: cdev on July 06, 2017, 09:56:53 pm ---Blueskull,

It seems as if everybody in China are essentially renters then, maybe?

Suppose I lived in some town on the outskirts of a medium sized but significantly nicer than average city like Shanghai or Shenzhen. (i.e. the New York or San Francisco of China) How much is the mortgage, rent, etc, that people have to pay while they live there?

How large of a percentage of income is it on the average?

--- End quote ---
Large numbers of people buy their own home in China. Prices vary a great deal with location. Shanghai and Shenzhen can be very expensive. An apartment in the up market parts of the Shekou district of Shenzhen can be 150k RMB per square metre.
cdev:
That's
22048.12 US Dollars per square meter


Nusa:

--- Quote from: cdev on July 06, 2017, 10:39:18 pm ---That's
22048.12 US Dollars per square meter

--- End quote ---
Or about $2000/square foot, and he did specify "up market parts". The Central Park South area of New York City is more expensive than that with a median of $2500/sq ft. If you want to buy in the Ritz-Carlton building, it could go up to $10,000/sq ft.
cdev:
Autonomous cars may change driving substantially because people will be able to sleep or do other things. This may qualitatively change the relative merits of in city versus suburban or rural living, and/or living in different parts of the country or even planet in ways we likely have no idea of now. We wont know until it happens.
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