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07-26-2006, 08:51 AM
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Retired
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Join Date: Jun 2006
947 posts, read 1,116,622 times
Reputation: 414
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Enough talk. Place your vote!
Sorry, I just realized that some people will want a timeframe. So I'll say this is for the next 1-3 years.
Last edited by markablue; 07-26-2006 at 10:56 AM..
Reason: merged
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07-26-2006, 09:19 AM
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Senior Member
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Join Date: Jun 2006
Location: Miami
566 posts, read 563,926 times
Reputation: 118
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All I can say is that in my neighborhood homes are just sitting - they keep changing realtors, etc. and nothing. One house even went down $250,000. and it still sitting there for almost a yr. - and it's a gorgeous 2 story home. Would have gone in a snap of a finger in the beginning of last year... but now???
Last edited by lulu; 07-26-2006 at 09:34 AM..
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07-26-2006, 09:28 AM
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Senior Member
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Join Date: Jun 2006
Location: FL to GA
802 posts, read 858,117 times
Reputation: 219
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Lulu,
I agree, I am in Cooper City where there were bidding wars going on...There were not many houses on the market and now there are. They are either sitting or the prices or going wayyy down......
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07-26-2006, 09:39 AM
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Senior Member
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Join Date: Jun 2006
Location: Miami
566 posts, read 563,926 times
Reputation: 118
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Really scary...and I can't stop thinking of these people who overpaid on their homes. One of my neighbors bought their house for $610,000 and 2 yrs before that the owners there paid $330,000. Now, he got a great job in N.Y. and is scared cause he doesn't know if he'll sell it. Maybe, he has to turn down the job. He's in a real jam...
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07-26-2006, 11:00 AM
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Retired
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Join Date: Jun 2006
947 posts, read 1,116,622 times
Reputation: 414
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Wow. 60+ views and only 8 votes.
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07-26-2006, 02:00 PM
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Moderator
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Join Date: Mar 2006
Location: So. Dak.
13,092 posts, read 9,013,983 times
Reputation: 13098
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It will be such a hardship for some people, but I honestly believe that the housing prices will change in the near future. It's just sad for some people who paid so much and won't be able to get out at least what they paid for them.
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07-26-2006, 06:21 PM
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Retired
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Join Date: Jun 2006
947 posts, read 1,116,622 times
Reputation: 414
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Quote:
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Originally Posted by lulu
All I can say is that in my neighborhood homes are just sitting - they keep changing realtors, etc. and nothing.
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I've noticed the same. I've kept me eye on a few houses for the last six months. One has been re-listed 3 times with different realtors / price points.
I can't post copyrighted material, but I did some searches and found June price data and most markets were 2%-8% down.
Last edited by Muggy; 07-26-2006 at 06:32 PM..
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07-29-2006, 11:23 AM
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Retired
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Join Date: Jun 2006
947 posts, read 1,116,622 times
Reputation: 414
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Well, a U.S. Dept. Of Commerce report says that home sales were down in the month of June; sales by as much as 40% and median by $10,000.
The St. Pete Times ran an article about increasing energy costs as well. It will be interesting to see where all of this ends up.
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07-29-2006, 12:31 PM
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One Ostrich at a time....
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Join Date: Jun 2006
1,843 posts, read 1,453,493 times
Reputation: 402
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Quote:
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Originally Posted by Muggy
Enough talk. Place your vote!
Sorry, I just realized that some people will want a timeframe. So I'll say this is for the next 1-3 years.
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I think everyone knows what I think! lol...Not a crash...but a serious correction in heated areas
I feel really bad for these people. And , unfortunately there are quite a few out there in this same situation.
[+] Rate this post positively |
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07-31-2006, 10:26 AM
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Retired
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Join Date: Jun 2006
947 posts, read 1,116,622 times
Reputation: 414
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Here is a very interesting article on the current situation:
http://www.tompaine.com/articles/200...sing_crash.php |
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