The housing bust is here and we can all expect home prices to decline every year for years to come. However, recovery will eventually happen and when today’s market seems bad just take a look at this to know what a recovery looks like.
Duration : 0:4:35
October 13th, 2009 at 6:40 pm
HOW SOON ?—GEORGE …
HOW SOON ?—GEORGE WU, A.I.A.
October 13th, 2009 at 6:40 pm
Well, think about …
Well, think about it. If housing prices crash, people who work at McDonalds will be able to buy homes, and people with better jobs will be able to pay them off sooner, which means less interest to the banks. We win and the banks lose.
Who really cares except the banks.
Let the housing market crash, along with the stock market, which is gambling called investing.
October 13th, 2009 at 6:40 pm
Your taxes will not …
Your taxes will not go down. How else will municipalies pay they’re costs?
October 13th, 2009 at 6:40 pm
What people do not …
What people do not realize is this has already happened in michigan. You can pick up 150k houses for about 30K now. Its coming to the rest of the USA soon.
October 13th, 2009 at 6:40 pm
“Less than they pay …
“Less than they pay for rent”. We still have a long way to go. Even after the price drops over the last couple of years!
October 13th, 2009 at 6:40 pm
I wish the houses …
I wish the houses were still that price today, I could own one!!
October 13th, 2009 at 6:40 pm
Very interesting.
…
Very interesting.
My house is currwently worth about $150K
In three years it could be worth $15 K
What a unique thought.
Taxes would be about $100.
Sounds good to me…
October 13th, 2009 at 6:40 pm
Buyers will be …
Buyers will be waiting for prices to drop even further. If you’re lucky enough to sell the home, try renting for a few years.
October 13th, 2009 at 6:40 pm
Many people get …
Many people get their kicks looking at model homes. Even the husband is entranced by the modern accoutrements and ample storage space!
Talk about a slow news week
October 13th, 2009 at 6:40 pm
BE SMART DONT BUY …
BE SMART DONT BUY NOW.If you buy now, you will find a house like the one you bought for $100K or more less than what you paid. You effectively will be catching a falling knife and become instantly underwater on your mortgage! Imagine going to the bank and asking, “I’d like to open an account for minus (-)$100K”. After years of deposits adding up to $100K you will have $0 in the account. Silly isn’t it? Well that is exactly what you will be doing if you bought a house right now.
October 13th, 2009 at 6:40 pm
“Monthly payments …
“Monthly payments less than rent”, gives a good hint of when a housing recovery will start…
October 13th, 2009 at 6:40 pm
The 1930s are …
The 1930s are coming.If we dont all starve we could do with a crash so decent working people can afford houses! To raise house prices and rents faster than the level of salaries is criminal!If I did the same job as my father I couldnt now buy the same sized house as he did!When are we finally going to get wise to the fact that investors and landlords have been getting rich for years at our expense.NOW thats when!That is the reason this depression is going to be a BIGGY!!!!!
October 13th, 2009 at 6:40 pm
its the same as a …
its the same as a mafia movie dont pay the corner mob! & they make you dissapear!
democracy regimes negate property rights, it negates the freedom of being able to have a place to live. democracy and (so called) libertarianism are in reality the hugest tyrany and poverty causing totalitarian systems in existence democracy regimes negate quality of life in general. just a bunch of fake liberty masks to hide the criminal tyrants behind the doings. Land of the dumb, home of the tyrants.
October 13th, 2009 at 6:40 pm
indian natives dont …
indian natives dont pay tax and still have services yet we americans dont even have the freedom to own tax free land without being extorted by political mafias at city hall all the way to the white house. taxing land citizens have already paid for is extortion , its fraud and its illegal, who gave political
mobs the criminal right to extort cash from citizens on a yearly and rising basis to drive people out of their homes.
October 13th, 2009 at 6:40 pm
My home in …
My home in California dropped from 940,000 in 2006 to 499,000 in 2008 and I still can’t sell it. I may have to drop another 100K to sell. Real estate definitely sucks right now. My wife keeps yelling at me that I should’ve sold earlier.
October 13th, 2009 at 6:40 pm
CA Median Price:
It …
CA Median Price:
It went up like this:
2001 210
2007 484
or
2001 210
2002 252
2003 302
2004 363
2005 436
That’s 4 years of 20% increases, thus decreases can occur at the same rate.
October 13th, 2009 at 6:40 pm
It has before, why …
It has before, why “can’t” it now?
October 13th, 2009 at 6:40 pm
Thank GOD for the …
Thank GOD for the Government! Sob!
October 13th, 2009 at 6:40 pm
Did it a minute ago …
Did it a minute ago!
Mortgage Problems Explained
watch?v=9GsxGmR6uPk
LOL
October 13th, 2009 at 6:40 pm
Any political …
Any political candidate does mobocracy
Politicians use the mobocracy system in housing by charging taxes every year on the property you have already paid the day you cant pay you lose your house, like a mafia movie By increasing taxes every year there would comes a time
where you cant pay that high. The result would be mass homelessness for the middcle class and rising rents for the poor while wages stay low (below 10$ an hour)
October 13th, 2009 at 6:40 pm
so a housing crash …
so a housing crash is a blessing! believe it!
October 13th, 2009 at 6:40 pm
lets talk about …
lets talk about democracy slave wages and homelessness, actually , dosent matter what regime it is , if there is economic growth and inflation in it , society will eventualy go poor, homeless, and hopeless.Prices of homes rose 12X since 1971 from 18.000$ to 200.000$ in 2005, RENTS WENT FROM 250$ TO 1000$ a month. Salaries hardly even doubled since then, you do the math
October 13th, 2009 at 6:40 pm
That’s from a time …
That’s from a time when Americans weren’t terrorised by boss talk about the evils of government! My grandfather survived and prospered as a builder during the Depression in part from Keynesian stimulus and he voted for Roosevelt in 1936 despite being a Mark Hanna Ohio Republican.
Today, the sheep look up and are not fed.
October 13th, 2009 at 6:40 pm
Hey lennyfest, you …
Hey lennyfest, you say real estate will drop 20% per year for 5 years at least.
Ok, let’s use some mathematics to quantify your logic.
House worth $150,000 at 20% per year equals – $120K YR 1 – $96,000 YR 2 – $76,800 YR 3 – $61,440 YR 4 – $49,152 YR 5.
I don’t think so lenny.
October 13th, 2009 at 6:40 pm
“The husband …
“The husband apparently isn’t very keen about it all, but you know how wives are!”
Paging Suzanne..