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That would mean my house is only worth 40% more than I paid for it five years ago! Excuse me, I need to go gnash my teeth and rend my garments.
We all love braggers. We all should be so lucky as you. We all should be so wealthy and smart and money savy.
I dont feel blessed as a human anymore. I hate you God for blessing such a mean man in sean and not the millions of us who might lose our home due to no fault of our own.
Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 6,506,556 times
Reputation: 1721
taking a shot
Quote:
Originally Posted by KevK
People should buy houses to live in. Not as speculation or to flip. If you want to speculate, buy gold or stocks.
I respectfully disagree. Housing is like most other commodities/stocks they can be bought and sold for a profit or a loss or held for a dividend (rent). Now the current situation we are in where the housing market is nose diving is not much different than from what happened in the tech bubble. Where "irrational exuberance" got the better of most investors and people ended up losing their shirts. Also you have a similar situation with some unsavory characters doing some "creative accounting" that allows for them to look better on the balance sheet than what actually were worth. Last time it was the boys from Enron and the like and this time it was countrywide, some other banks, and some consumers that lied.
I know things are looking bad for the country as a whole and it going to be a rough road ahead for the next couple of years. And that this housing disaster is going to hurt a lot of people and drag on a lot longer than the so called "experts" are calling for. But as they say it darkest before the dawn and opportunities for the people that stayed rational, saved their money, and and didn't accumulate debt during the housing boom have to chance to make our really well in the downturn. At this point your just have to do your due diligence and try to figure out where and when the housing market will rebound. Is that going to be easy? NO! But if your willing to play and take a "calculated" chance you got a shot at making some money.
I respectfully disagree. Housing is like most other commodities/stocks they can be bought and sold for a profit or a loss or held for a dividend (rent). Now the current situation we are in where the housing market is nose diving is not much different than from what happened in the tech bubble. Where "irrational exuberance" got the better of most investors and people ended up losing their shirts. Also you have a similar situation with some unsavory characters doing some "creative accounting" that allows for them to look better on the balance sheet than what actually were worth. Last time it was the boys from Enron and the like and this time it was countrywide, some other banks, and some consumers that lied.
I know things are looking bad for the country as a whole and it going to be a rough road ahead for the next couple of years. And that this housing disaster is going to hurt a lot of people and drag on a lot longer than the so called "experts" are calling for. But as they say it darkest before the dawn and opportunities for the people that stayed rational, saved their money, and and didn't accumulate debt during the housing boom have to chance to make our really well in the downturn. At this point your just have to do your due diligence and try to figure out where and when the housing market will rebound. Is that going to be easy? NO! But if your willing to play and take a "calculated" chance you got a shot at making some money.
I keep seeing people talk about this "rebound". What is your definition of rebound in this particular instance?
The words of reason. I have been saying this for years, but nobody would agree with me. I believe that falling real estate values are the best thing for the US economy. Without development to generate phony wealth, people will have to farm, and produce goods instead. Rather than demolishing factories and bulldozing farms and forests for homes, condos and shopping- the opposite will be happening. I look forward to it!
I was speaking about this with a friend of mine. I think some of the suburban areas in Miami and Fort Lauderdale will definitely become farm land in the near future. I mean with increasing cost for transporting food they have no choice but to farm closer to city centers. I am scared and happy at the same time. Scared because I don't want to end up on the soup line but happy because this will force Americans to live a more sustainable lifestyle.
Anyone who can get out of California is moving to Texas it seems. In my central Dallas neighborhood of East Dallas, the price on homes in Lakewood Elementary has gone up an average of almost $100,000 in the last year according to Ron Burch's Real Estate Report in advocatemag.com
Anyone who can get out of California is moving to Texas it seems. In my central Dallas neighborhood of East Dallas, the price on homes in Lakewood Elementary has gone up an average of almost $100,000 in the last year according to Ron Burch's Real Estate Report in advocatemag.com
They never learn. Wait till they have to pay those sky-high Texas property taxes on inflated California prices on a southern salary. I forsee a real estate crash in the future for Texas as well.
I was speaking about this with a friend of mine. I think some of the suburban areas in Miami and Fort Lauderdale will definitely become farm land in the near future. I mean with increasing cost for transporting food they have no choice but to farm closer to city centers. I am scared and happy at the same time. Scared because I don't want to end up on the soup line but happy because this will force Americans to live a more sustainable lifestyle.
It would be beneficial in many ways because south Florida is one of the few places that unique produce can be grown. Lower real estate prices would bring new opportunities for innovative individuals and drastically improve our lifestyles.
I would love to see some hydroponic farms down here. I read a story about this guy in Orlando or somewhere around there. He was able to grow on 3 acres of land what he used to grow on 16 acres of land. All through the use of hydroponics. They start doing this and I think we will be ok. That is one great thing about disaster, it generally brings about great innovation.
Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 6,506,556 times
Reputation: 1721
2018
Quote:
Originally Posted by Wild Style
I keep seeing people talk about this "rebound". What is your definition of rebound in this particular instance?
In simplest terms: when housing prices start appreciating again (on a historical average anyways)
Now in most market this is going to take a long time to get appreciation back. Heck we have to get finished through the free fall first. But I believe that eventually most of the country will see price appreciation again by 2018.
Granted CA. and FL might take longer and fall further than most other states. Also NV. and AZ are done. I'm not even sure if they can come back.
I think TX is doing just find and actually will be one of the states that actually makes it out relatively unscathed (of course Dallas and SA may take a hit.)
I think Bos - Was region will take a kick in the teeth for the next 2 years Flatten out for 3 years. Then will see modest appreciation by 5 to 7 years out.
As for the Midwest not sure what will happen. With any hint of a food shortage,with ethanol production running at a good clip for the next years, and the possibility of large scale wind farming in the area the Midwest might make out. Plus the cheap cost of housing and simple way of living out there might attract some younger folk to try to start a new. I can't really say but it's always a possibility.
Some spoilers in my mind for real estate are: MI.(not Detroit though), Northern OH., North western PA. and perhaps Northern NY (granted the taxes are still to high in N. NY.)
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taking a shot
