Homes keep dropping (Clinton, Sterling: mortgage, wage , jobs)

[daw80]

Well lets see we bought are house six years ago for 165,000. in waterford and know on the market for over six month's and just keep lowering the price we have it know for 149,000. are taxes are not bad with .25 an acre 3 bed 1.5 bath . with lake privlages great neighborhood and right now we are living with the inlaws in tennessee cause we can not sell are house . Are equalized value is 188,000. on the house basically we moved for better jobs down here . So it sucks because we are making are payments still and pay all the bills up there when people just drop everything and leave it hurts everyone around . So I pray things get better up there in the housing market . Thats just my opinion .

[MBORMAN]

Another thing that those that say they do not plan to sell and it does not matter, They are not thinking of so many things and are totaly wrong, Many comunitys are seeing a rise in abandon homes, with drug dealers moving in and crime on the rise. I can tell you that you may not want to sell but if things keep going the way they have been it will eventualy come to your area one way or another, When the house next to you is abandon and falling down it will affect yours, or if it is a sub next to your sub. Crime will affect you. This economy is getting bad, and Michigan went from 16th in wealth to 39th and dropping. Where will we be in ten years? 50th?

[darstar]

During the fifties and sixtys , a lot of farm homes , began to loose occupancy status , due mostly to the consolidation , and by corporate farming. The trend continued into the 80s .
Today , and , for some time now , throughout Mid America , are abandoned homes ,everywhere across the country side. Much you do not see , cause , so many homes were destroyed , by , bulldozers. First , they dig a deep hole , then , they push all the farmstead buildings in the hole. I saw this , happened to my family. The land became more valuable than the buildings on it........... I see a like happening again, all across America, and , not just in rural places. Just give it some time , its coming..........

[FERRETI]

They are saying that this thing has no end insight and it will get a lot worse.I am getting out precisely now.Should have gotten out when i had an offer in 2004.I will never buy a house nor a car in this country.

[FERRETI]

Not buying chinese or arab gas either.

[kipikitchie]

CNN just had a pc. on the housing market is no not expected to make a turaround untill 09.
This is a projection to, It may take several years. Michigan will hurt even worse this summer when gas hits 4 a gallon.
The big corvett and chrystler charger is not what they should focus on.
The volt is a stupid focus also, they should be working on a prius type car that they can sell at 12 to 15k, this would sell well.
But they just dont get it.
With the economy sagging and gas taking a huge chunk out of peoples wallets they do not have the $ to spend on detroit crap.
We as a people have asked for this, we lived in the 90s like there was no tomorrow.
I used to get mad when I was working 15 hours a day, 7 days a week, and watched as people would come upstate with 150k worth of machines on the back of a trailer, boats new homes and the like.
Now these people are loosing those toys and homes at record rates.
There was a whole generation that thought that things have always been good in the economy, becasue they were not old enough to have seen the cycles of up and down. Now they are loosing their yukons, and 4000 sf homes.
I guess all the years of saving and working are now paying off for me at least.

[malamute]

Originally Posted by amazingnow

It started with the bush admistration, he and the repubics, kept saying the economy is in great condtion,no problems.
Now he sees some problems on the horizion. Wow, that bus left the station 2 years ago.
Some here are the same, they do not see that the Michigan bus left over 1 year ago.

A lot of this was starting when Clinton was president. Guess who signed NAFTA after all -- starting the big give-away of American jobs. It's not just Bush, it's all the globalists which include most of the democrats too.

[AngelfaceAZ]

Unfortunately Michigan is currently caught in a vicious cycle, which is why home prices keep dropping. If Arizona had your economy problems right now we'd be caught in the same thing.

As long as people continue to NEED to move out of state in order to find work, homes will keep going up on the market. The more saturated the market becomes the lower home prices will need to go. The longer distressed homeowners cannot sell their homes because of job loss the more foreclousures you will have. Banks almost ALWAYS sell these as low as they possibly can in order to get rid of them (contrary to popular opionion the bank does not want to own your home) and as long as banks are lowering the price on the homes they sell the values will continue to decrease on similar homes in the neighborhood.

The faster someone can bring in some new jobs to Michigan the better. True, the housing market can only fall so far but I would hate to see the bottom.

I am grateful that my family members (in Michigan) all have good solid jobs and I hope it stays that way. In the meantime I worry about the rest of the state.

[magellan]

Originally Posted by kipikitchie

CNN just had a pc. on the housing market is no not expected to make a turaround untill 09.
This is a projection to, It may take several years. Michigan will hurt even worse this summer when gas hits 4 a gallon.
The big corvett and chrystler charger is not what they should focus on.
The volt is a stupid focus also, they should be working on a prius type car that they can sell at 12 to 15k, this would sell well.
But they just dont get it.
With the economy sagging and gas taking a huge chunk out of peoples wallets they do not have the $ to spend on detroit crap.
We as a people have asked for this, we lived in the 90s like there was no tomorrow.
I used to get mad when I was working 15 hours a day, 7 days a week, and watched as people would come upstate with 150k worth of machines on the back of a trailer, boats new homes and the like.
Now these people are loosing those toys and homes at record rates.
There was a whole generation that thought that things have always been good in the economy, becasue they were not old enough to have seen the cycles of up and down. Now they are loosing their yukons, and 4000 sf homes.
I guess all the years of saving and working are now paying off for me at least.

When people predicted last summer that oil would reach $100/barrel, economists said "no way". Now that it has surpassed $100/barrel, they are now predicting $200/barrel by year's end. It won't matter what state you live in, better start economizing your driving now. Fortunately our commute times are only 5 minutes for my wife and I do most of my work from home.

[AngelfaceAZ]

Originally Posted by magellan

When people predicted last summer that oil would reach $100/barrel, economists said "no way". Now that it has surpassed $100/barrel, they are now predicting $200/barrel by year's end. It won't matter what state you live in, better start economizing your driving now. Fortunately our commute times are only 5 minutes for my wife and I do most of my work from home.

Lucky you! I would absolutely LOVE to work from home...it's those pesky buyers who keep me in my car all the time...