Crazy Housing Prices(up)

Homebuyers nationwide(在全国范围内) are watching housing prices go up, up, and up. “How high can they go?” is the question on everyone’s lips. “As long as interest(兴趣) rates stay around 5 percent, there’s no telling,” remarked one realtor(地产商) in Santa Monica, California.

“It’s crazy,” said Tim, who is looking for a house near the beach. “In 1993, I bought my first place, a two-bedroom condominium in Venice, for $70,000. My friends thought then that I was overpaying. Five years later, I had to move. I sold it for $230,000, which was a nice profit(利润). Last year, while visiting friends here, I saw in the local paper that the exact same condo(condominium 的短称) was for sale for $510,000!”

It is a seller’s market. Homebuyers feel like they have to offer at least 10 percent more than the asking price. Donna, a new owner of a one-bedroom condo in Venice Beach, said, “That’s what I did. I told the owner that whatever anyone offers you, I’ll give you $20,000 more, under the table, so you don’t have to pay your realtor any of it. I was tired of looking .”

notes:very interesting but i don't like everyday do la pls la mama!