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Old 10-12-2007, 04:01 PM
 
1,119 posts, read 2,462,990 times
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NEW YORK (CNNMoney.com) --" Over the next few years, more than three-quarters of the nation's housing markets will suffer some decline in home prices. Many will experience double-digit hits in a forecast that has worsened considerably in recent months"

Lots of unsettling news regarding the housing market bubble

Double digit* home price drops coming - Sep. 19, 2007
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Old 10-12-2007, 06:22 PM
 
Location: Home is where the heart is
15,400 posts, read 25,825,081 times
Reputation: 18992
Although I also agree that major price drops are likely for at least another year, I feel obligated to point out that you shouldn't give much credence to economic reports from cnn. That's about as reliable as getting stock advice from a taxi driver. And cnn's economic stories tend to be as contradictory and illogical as the "best city" lists that Money Magazine spits out.
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Old 10-12-2007, 06:25 PM
 
8,376 posts, read 27,785,288 times
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Quote:
Originally Posted by downtown1 View Post
NEW YORK (CNNMoney.com) --" Over the next few years, more than three-quarters of the nation's housing markets will suffer some decline in home prices. Many will experience double-digit hits in a forecast that has worsened considerably in recent months"

Lots of unsettling news regarding the housing market bubble

Double digit* home price drops coming - Sep. 19, 2007
Fantastic! Now the average person in New York, Los Angeles, San Diego, Orange County, San Fran., Miami, Orlando, Tampa, Fort Lauderdale, Boston, or Seattle (and I am missing many off of that list) might be a step closer to home ownership, although drops over 50 percent are what we REALLY need!

36 Fort Lauderdale-Pompano Beach-Deerfield Beach FL 06Q1 08Q4 -11.5

A step in the right direction!
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Old 10-12-2007, 07:58 PM
 
Location: Where the sun likes to shine!!
20,517 posts, read 26,378,793 times
Reputation: 88542
We have seen triple digit drops where we used to live in Florida. You can't trust the news. We are in for some serious trouble with the housing market.
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Old 10-12-2007, 09:10 PM
 
3,596 posts, read 7,706,431 times
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I've been shifting many liquid assets in my portfolio to make ready for this. I'm ready to pounce on a huge, gigantic condo/apartment in the heavens here in Chicago!
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Old 10-13-2007, 10:36 AM
 
Location: the best coast
718 posts, read 2,484,799 times
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In some metroarea's, particularly inland california, florida, las vegas and detroit middle class families will no longer be priced out of the market
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Old 10-13-2007, 01:16 PM
 
Location: Mesa, Az
21,148 posts, read 37,467,298 times
Reputation: 3800
Even some areas like Globe, Az with the copper mines opening back up; there are signs of housing price declines as well-------which does not bode well for at least investors.
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Old 10-13-2007, 01:18 PM
 
491 posts, read 1,312,580 times
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woohoo, if we hit double digit price drops, the houses would be free!
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Old 10-13-2007, 01:46 PM
 
Location: Polish Hill, Pittsburgh, PA
30,205 posts, read 67,344,690 times
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It's times like these I'm glad I live in Scranton, which has the nation's fourth-hottest real estate market at the moment, with a 12-month forecast of 3.9% home value appreciation from the current $118,000 median home price. Over the past five years our homes have appreciated in value by a whopping 41.2%! My parents purchased our home for just over $100,000 in 1996, and it is now worth over $200,000 today.
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Old 10-13-2007, 02:19 PM
 
95 posts, read 1,199,111 times
Reputation: 153
I would love it if the bottom fell out of the market. This would teach those home owner association snobs a thing or two when what they call the "undesireables" can afford their neighborhoods and start moving in next door to them. I get so sick of the people who buy in neighborhoods so they can push neighbors around telling them what they can and can't do on their own property. They would just DIE if a hispanic or a black moved in next to them living in a fine house, too! LOL!
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