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Old 08-25-2010, 09:59 AM
 
Location: Greenville, SC
9,734 posts, read 18,880,745 times
Reputation: 2458

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But the economy is improving: Sales of new homes hit slowest pace on record - Business - Real estate - msnbc.com Time to pass another stimulus package that creates low-paying road paving jobs that last for only two weeks.
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Old 08-25-2010, 11:40 AM
 
Location: Dallas, TX
5,681 posts, read 9,167,759 times
Reputation: 1884
It's called the end of gov't incentives for home buyers... Things will stabilize.
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Old 08-25-2010, 11:54 AM
 
Location: Greenville, SC
9,734 posts, read 18,880,745 times
Reputation: 2458
Quote:
Originally Posted by UpstateBooster View Post
It's called the end of gov't incentives for home buyers... Things will stabilize.
And the question everybody wants answered is: WHEN?
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Old 08-25-2010, 02:51 PM
 
Location: Not where you ever lived
11,544 posts, read 23,631,315 times
Reputation: 6103
Everyone wants to know when. The unknown is time. The housing bust and the economy downturn did not happen overnight. And it won't recover over night. But you have good healthy indicators such as Apple coming to Gville. Housing may double-dip, but the economy will not fully stabilize until the housing market in G'ville settles.

How do I know?. My mother starting teaching me real estate at the age of 9; I was her secretary, and by the time I was 18 I had a license. I talked to mother every day about realestate for 54 years. I saw the housing bust start to build when realtors in the Midwest were adverting $50K houses for $80K and selling them. Those same houses will not appraise for more than $50K today. When housing levels out, and home owned banks start to make 80%r loans with good credit on houses again, you are on the way to a recovery.

Hympty Dumpty did not break, but he took a very hard fall. We will be okay, but we will learn to live life differently. And that's okay, too. I've been watching the housing market for over 60 years. Based on what I've read I do believe G'ville will be on of the early recoveries.

Do not loose sight of the donut. Media in general makes outlandish claims that not only scare you, and destort facts, they do it for the almigty green back. Remember this the next time that Henny Penny announces on one of the local TV or radio channels the sky is falling, she's pandering for advertising dollars. If go into a double dip like the US Treasury Special Master predicts, it will get a little worse before the economy comes out it, but it should not be as bad as when it first collapsd. Be patient and help each other. We forgot how to do that in the last 50 years. .
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Old 08-25-2010, 03:14 PM
 
356 posts, read 746,599 times
Reputation: 106
What makes this recession different, though, is the unprecedented level of national debt that we are now faced with, thanks to the unending appetite to spend, spend, spend. The country is going broke.
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Old 08-25-2010, 04:24 PM
 
Location: Dallas, TX
5,681 posts, read 9,167,759 times
Reputation: 1884
All systems tend toward equilibrium (if left alone, that is!!). Let nature take its course.
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Old 08-25-2010, 08:19 PM
 
Location: Easley, SC
511 posts, read 1,251,969 times
Reputation: 107
Thank you Linicx!!! I get so tired of the news beating us down. We are getting jobs although there are a lot of unempolyed people. Things will get better!!!! I am having a better year this year than last so in my eyes, that speaks for itself.
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Old 08-26-2010, 04:58 AM
 
11 posts, read 18,579 times
Reputation: 15
Linicx, people like you make me happy I am moving to SC. :-)
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Old 08-26-2010, 08:57 PM
 
Location: Greenville, SC
909 posts, read 2,018,609 times
Reputation: 394
Quote:
Originally Posted by g-man430 View Post
But the economy is improving: Sales of new homes hit slowest pace on record - Business - Real estate - msnbc.com Time to pass another stimulus package that creates low-paying road paving jobs that last for only two weeks.
Yeah, I heard that the mall isn't as busy after Christmas, as it is right before Christmas. Amazing!

You really want to see a housing slowdown, wait about 5 years when interest rates are likely to be double or more, compared to what they are now.

Thanks to the President, House, and Senate. Way to spend that money!
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