2008 Florida Housing market Thread Jan - Mar (Miami, Port Charlotte: loans, closing)

[CJFlorida]

Originally Posted by lostbuyer

"Few floridians think their house values will dip in five years" who cares what these debt rich floridians THINK,data charts think otherwise,who will be right??but to some extent they are right no dip,more like a splash mountain freefall.

Also that survey was done 6 months ago. I think some may have changed their tune a little. And 6 months from now even more will get it.

Unfortunately most people listen to the main stream news so they will be a year or more behind on things like housing trends.

[Ten]

Originally Posted by CJFlorida

The wealth transfer to the top 1/10th percent has been epic the last few years. They have the middle class right where they wanted them, in debt up to their ears and worried about their jobs enough to be very 'productive'.

Now the folks with money will swoop in once prices bottom out, buy the houses cheap, and rent them back to the people.

The past 7 years have been a great example of how big money works. The thought that Joe Q. Public could get rich off their houses, take out equity to buy expensive things, and live happily ever after was a mirage.

In the end, the super rich know how to play the rest of us like fiddles.

What we need is a Robin Hood. Meanwhile, don't let the envy get too bad: Celebrity Real Estate Losers

[SANDYHAIR]

OMG Someone just told me in 2 years prices were gonna sky rocket in florida omg where they get this stuff from CRAZY CRAZY CRAZY IMHO

[Ten]

Originally Posted by SANDYHAIR

OMG Someone just told me in 2 years prices were gonna sky rocket in florida omg where they get this stuff from CRAZY CRAZY CRAZY IMHO

Somebody once told me they were from the government and they were there to help. Maybe it was Alan Greenspan.



From Mish's Global Economic Trend Analysis today:

US Service Sector in Recession - Eurozone is Fading Fast
Banks Put Stranglehold On Credit
US Homeowners Confound Predictions
Jobs Contract as 2007 Job Growth Revised Away
60 Minutes Legitimizes Walking Away
The Business of Walking Away Is Booming

[CJFlorida]

Originally Posted by SANDYHAIR

OMG Someone just told me in 2 years prices were gonna sky rocket in florida omg where they get this stuff from CRAZY CRAZY CRAZY IMHO

So is this person going to buy every Florida house they can get their hands on....or are they just talking?

[SANDYHAIR]

GOOD INFO TKS They told me the baby boomers were come and price in the north would drop and the south would sky rocket lol

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[SANDYHAIR]

PEOPLE THINK HOUSING PRICES WILL INCEASE IN A FEW YRS .LOL In a few yrs rates will be up . who will be buying over priced houses imho

[SANDYHAIR]

[quote=SANDYHAIR;2747275]OMG Someone just told me in 2 years prices were gonna sky rocket in florida omg where they get this stuff from

[Wild Style]

Originally Posted by SANDYHAIR

PEOPLE THINK HOUSING PRICES WILL INCEASE IN A FEW YRS .LOL In a few yrs rates will be up . who will be buying over priced houses imho

The problem with these people is, they do not understand economics. People are not buying because they think its cool to wait it out. They are not buying because they can not afford. Truthfully, they NEVER could afford these homes. It was faux wealth, in the form of exotic loans.

This article (link) is the perfect example. The game is over, the days of getting absurd prices for a home that is worth half as much, is gone. But I guess they didn't get the memo. In a few months, when they are under far more pressure than they are now to sell; they will curse the day, their greed over powered their ability, to make sound business decisions.