LI Real Estate back to 2001 levels? (Babylon: 2009, house prices, buy)

[Nico's the Man!]

I say not if interest rates stay this low.. What say you?

[Smash255]

Very unlikely

[Elke Mariotti]

Originally Posted by Nico's the Man!

I say not if interest rates stay this low.. What say you?

I don't see it...

[KENNY GUIDO]

in 2001, the house were still much cheaper than what they are now.

[Crookhaven]

Originally Posted by Nico's the Man!

I say not if interest rates stay this low.. What say you?

The dow is back to 2001 levels.

Makes sense to me.

This is healthy.

crooks

[S.I.B.]

is it possible we've been "trained" to simply be more accepting of higher prices for homes? Let's say a house was bought for $200k in 2001, sold for $500k during the bubble, and now the owner is asking $375k. Seems like a "bargain" compared to 2 years ago...even though it's still overpriced.

Kind of like how we all got excited when gas dipped under $2.00.

[sswernof]

This is the big debate in my family. My fiancee and I are looking for a home in the 300s while my sister and brother in law are looking for a home close to a million dollars. They have rented a home for 6 months because they are convinced that the market will tank further and they will get a great deal next fall. They are encouraging us to do the same, but I am not convinced that homes in the 300's will really drop that much further. We are looking in Babylon village, which I believe holds its value more than other areas. Does anyone really think that these homes in the 300's will drop into the 200's? My opinion is that the expensive homes will experience a great drop in price because their are fewer people who can afford them, but the homes in the 300's get snatched up easier and therefore won't drop dramatically. Needless to say... it is a big family debate.

[workingclasshero]

the average home was 150-225k in 1996,,,the OVERPRICED 2005 (peak) prices were 450-700k,,,,,where is should be in the 10 years after 1996 (meaning now) 175-275k

anything higher is a rip off

[TomMoser]

Here is an interesting article that argues that the inflation that will result from the massive government spending will increase house prices over the next several years:

Commentary: House Prices Will Rise Greatly over the Next Few Years, Buy Now | RISMedia

[dman72]

Originally Posted by TomMoser

Here is an interesting article that argues that the inflation that will result from the massive government spending will increase house prices over the next several years:

Commentary: House Prices Will Rise Greatly over the Next Few Years, Buy Now | RISMedia

No offense Tom, but this coming from a Real Estate Agent......

LOL.