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Old 06-30-2010, 02:16 PM
 
3,076 posts, read 5,648,872 times
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Foreclosures Sell at 30 Percent Discount | Firstcoastnews.com | Money - Business and Financial News
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Old 07-10-2010, 08:01 AM
 
Location: Travelingggg
14 posts, read 36,373 times
Reputation: 11
wow, 34% is quite the discount heh. I was under the impression that foreclosures generally sold for about 5% below their market value. I guess if we're up to 30%+, then that really tells you the state of the market right there.

Is there a certain site you guys use to find foreclosures? Or are the listings pretty much the same everywhere you go? Reason I ask is because Im considering buying a subscription to a foreclosure listing service pretty soon
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Old 07-10-2010, 10:50 AM
 
Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 6,508,145 times
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Well considering a lot of town had price appreciation of about 200% in 10 year or less a 30% since 2005 or 2006 is not that incredible. I actually see this development as a positive. In a couple of years (mid or end of this decade.) when the credit, job market..and yes even the real estate market. finally start to stablize........whatever that "new normal" level is....young folks who will want to start families will finally be able to buy a good home with out going into complete hock that would utterly strain there financial situation. Basically in the end all this price deprecation will only help the X'ers, Y'ers, and Millennials live a comfortable lifestyle in Massachusetts...as oppose to going broke with debt over their head.
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Old 07-12-2010, 11:38 AM
 
Location: Metrowest, MA
1,810 posts, read 10,486,157 times
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Quote:
Originally Posted by baystater View Post
Well considering a lot of town had price appreciation of about 200% in 10 year or less a 30% since 2005 or 2006 is not that incredible. I actually see this development as a positive. In a couple of years (mid or end of this decade.) when the credit, job market..and yes even the real estate market. finally start to stablize........whatever that "new normal" level is....young folks who will want to start families will finally be able to buy a good home with out going into complete hock that would utterly strain there financial situation. Basically in the end all this price deprecation will only help the X'ers, Y'ers, and Millennials live a comfortable lifestyle in Massachusetts...as oppose to going broke with debt over their head.
Do you believe that prices has stabilized and will not go further down (after stimulus)? You believe that the X'ers, Y'ers, and Millennials will live a comfortable lifestyle... when many have $50K+ student loans and wages have to compete with oversea?
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Old 07-12-2010, 12:47 PM
 
Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 6,508,145 times
Reputation: 1721
[quote=smarty;15005260]

Quote:
Do you believe that prices has stabilized and will not go further down (after stimulus)?
As of this moment. No. Please look at my post again. I said by the mid or end of this decade thing's will stabilize. I'm big on cheap prices for housing ( the most expensive/costly item a person buys in this country). I'm hoping the market falls alot since the tax credit has evaporated. But all things come to an end and I believe this will end and stabilize by the end of the decade. 9 1/2 years from now.



Quote:
You believe that the X'ers, Y'ers, and Millennials will live a comfortable lifestyle... when many have $50K+ student loans and wages have to compete with oversea?
In a word yes. As for the loan debt yes it is a pain in the neck. But $50,000K is doable over 20 or 30 years depending on your you loan terms. Where people get in trouble is when they start using credit card debt. That's the real killer. Also while it has come down a bit There still a tendency for Americans in general to buy things they can't afford or need. Of course we can argue what a comfortable lifestyle is...but....I doubting we will reach a 3rd world level anytime soon.



Companies brace for end of cheap made-in-China era - Yahoo! News (http://news.yahoo.com/s/ap/20100709/ap_on_bi_ge/as_china_cheap_no_more_3 - broken link)

The New Challenge of the Strikes Won’t Go Away - China Real Time Report - WSJ

As for wages. Look at what happening in china right now a lot of Chinese workers are asking for better pay and benefits. Add to this the cost of shipping goods to the U.S. China (the U.S.'s economic boogieman) is becoming less and less desirable as a place to do business. Of course the government there doesn't make it easier to do business there for foreigners easier...so...some Multi-corps are shifting work back to the U.S.
Granted will all the work shift back to the U.S.? Absolutely not! But to say that we are going to go into a death spiral where we will live like a 3rd world country with no jobs, no money, and no hope is just not something that I think is going to happen.

Like I said we will live comfortably not opulently.

Last edited by baystater; 07-12-2010 at 01:00 PM..
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Old 07-12-2010, 01:40 PM
 
Location: Not where I want to be
24,509 posts, read 24,191,547 times
Reputation: 24282
[quote=baystater;15006284]
Quote:
Originally Posted by smarty View Post



As of this moment. No. Please look at my post again. I said by the mid or end of this decade thing's will stabilize. I'm big on cheap prices for housing ( the most expensive/costly item a person buys in this country). I'm hoping the market falls alot since the tax credit has evaporated. But all things come to an end and I believe this will end and stabilize by the end of the decade. 9 1/2 years from now.





In a word yes. As for the loan debt yes it is a pain in the neck. But $50,000K is doable over 20 or 30 years depending on your you loan terms. Where people get in trouble is when they start using credit card debt. That's the real killer. Also while it has come down a bit There still a tendency for Americans in general to buy things they can't afford or need. Of course we can argue what a comfortable lifestyle is...but....I doubting we will reach a 3rd world level anytime soon.



Companies brace for end of cheap made-in-China era - Yahoo! News (http://news.yahoo.com/s/ap/20100709/ap_on_bi_ge/as_china_cheap_no_more_3 - broken link)

The New Challenge of the Strikes Won’t Go Away - China Real Time Report - WSJ

As for wages. Look at what happening in china right now a lot of Chinese workers are asking for better pay and benefits. Add to this the cost of shipping goods to the U.S. China (the U.S.'s economic boogieman) is becoming less and less desirable as a place to do business. Of course the government there doesn't make it easier to do business there for foreigners easier...so...some Multi-corps are shifting work back to the U.S.
Granted will all the work shift back to the U.S.? Absolutely not! But to say that we are going to go into a death spiral where we will live like a 3rd world country with no jobs, no money, and no hope is just not something that I think is going to happen.

Like I said we will live comfortably not opulently.

Man, oh, man, I sure hope you are correct about this!
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