[hiknapster]

Yep. Three times our annual gross puts us at about $190,000. I'd be sick with that kind of mortgage.

Twice puts us at about $126,000.

I'm looking at homes in the Knoxville area that are listed at $119,000, with plans to offer less.

It is our dream to own a home, but I'll be darned if worrying about payments is going to keep me awake at night.

[FireBreeze]

Originally Posted by compelled to reply

MrTudo, usually we only disagree on minor geographical disputes for families with children (guess who I am, SN change), but this waitress either A. sells drugs, B. bought before the bubble or C. is a rare case. The market is broken and there is no denying, but it will correct itself. The key word; itself.

Chances are, that waitress was making more money than I was when I was still in Ft. Lauderdale ('02-'04). I'm an RN with a bachelor's degree, and I worked extra shifts, had good credit, yet was not able to afford to buy a decent home until I moved elsewhere. Maybe I'm in the wrong profession.

[1970pelle]

We have had our home on the market since April.Lots of showings and have adjusted price down 35k.We are in a area that nothing is moving.We wanted to down size and find a home that will fit my health needs.Meaning a handicap bathroom or one that can be remodeled.And less lawn,I mow almost 2 acres.We had found a couple that would have worked out perfect.But ours didn't move.We could have dropped our price down as everyone on the real estate forum shouts that its the only way to sell.Which in our case would be foolish.We have owned our home for 10 plus years and haven't used it as a ATM.We are better off staying put and remodeling.I'm currently getting est. on new bathroom.I has been very stressful and disappointing.I have spoken with quite a few agents and they have no idea how to market a home in N.E.Fl. at this time.With so many homes listed and the prices are pretty close.It a tuff time for sellers.My heart goes out to folks who have a morgage that is chocking them.

[SKB]

Well now that the government is stepping in and offering a bail out solution for all of those who got an ARM between 2005 and July 2007, their interest rates will now be frozen for five years.
Bush unveils plan to help borrowers - Mortgage mess - MSNBC.com

[hiknapster]

These people have to be current with their payments. I wonder how many are.

Then there are the people that did the home-equity gamble. I know someone that bought her Florida home in 1984 for $41,000. She now has a home-equity loan for $114,000. I bet she hasn't made a payment in a year and is in foreclosure. She, and apparently her mortgage company, were banking on her ability to refinance.

How many of her are out there?

[MrTudo]

Originally Posted by compelled to reply

MrTudo, usually we only disagree on minor geographical disputes for families with children (guess who I am, SN change), but this waitress either A. sells drugs, B. bought before the bubble or C. is a rare case. The market is broken and there is no denying, but it will correct itself. The key word; itself.

Rare perhaps and you're obviously have , "issues" to talk out of your hat about people using drugs. I know this person for 20+ years and for 15 of them she's been ar a major steakhouse on Federal Highway in Ft Lauderdale.

They make 50K a year there.

Rare yes as it's shows time and time again how this society is flushing itself down the toilet and wanting someone else to be forced to pay for it.

[MrTudo]

Originally Posted by FireBreeze

Chances are, that waitress was making more money than I was when I was still in Ft. Lauderdale ('02-'04). I'm an RN with a bachelor's degree, and I worked extra shifts, had good credit, yet was not able to afford to buy a decent home until I moved elsewhere. Maybe I'm in the wrong profession.

Now I don't see how that can be true. My ex neighbot in West Boca was an RN in hospice care and she made 100K a year. Considering there's no personal income tax in Fla that's a pretty good living.

[MrTudo]

Originally Posted by Wild Style

think about this just 20 yrs ago people were able to buy homes that was roughly half their annual house hold salary, try that now. Prices are still to high given the local markets. There is a lot of bleeding left to be done. .

Actually there's a lot of whining left and it's obvious there's no shortage of it. There's a huge surplus of it.

There is a shortage however of good old fashioned work ethics, honesty, and people taking responsibility.

The national debt that is a reality.



Then there's unfunded liabilities which are in the 40-60 Trillion dollar mark. Americans in the last few years thought that rather than create, work,, do things that are productive thought borrow, spend, borrow smoe, spend smoe, bomb someone, bomb someone else, borrow money from communists to bomb someone, sell each other houses would be a good idea.

Not a good idea and it's will continue to come back and make everyone pay for it.

That said however, and from an individual perspective, Fla still represents one of the best games in town, from a standpoint of real estate prices to stick ones flag in the sand and take a stand.

NOBODY responded to the fact that a home can be bought in SW Fla for under 100K. That's telling. It's a start. If you can't afford a 100K house, you're A) doing something wrong, B) need to work harder.

[hiknapster]

Originally Posted by MrTudo

sell each other houses would be a good idea.

That's it, right there.

Problem is, starter homes in Fort Myers were going for $250,000 when I left, two years ago.

Anything under $100,000 has got to be in the ghetto, I'm thinking?

My husband can get a job anywhere, but my company in Fort Myers closed its doors yesterday. Jobs are scarce, and as far as I know, prices have not come down enough.

[MrTudo]

Originally Posted by hiknapster

That's it, right there.

Problem is, starter homes in Fort Myers were going for $250,000 when I left, two years ago.

Anything under $100,000 has got to be in the ghetto, I'm thinking?

My husband can get a job anywhere, but my company in Fort Myers closed its doors yesterday. Jobs are scarce, and as far as I know, prices have not come down enough.

Not the ghetto. Northport, Port Charlotte. I don't know anything about Ft Myers other than a GREAT place to buy orange milkshakes, a great Korean/Chinese grocery on Boy Scout Rd, and the way to Sanibel-Captiva. Other than that I'd get lost there haha.

I don't know anything about getting a job. I created my own 16+ years ago and thank my personal G-d for it.