Housing prices are going to continue to go down (mortgages, buying a house)

[GiantRutgersfan]

Without question. Housing is completely overpriced, even with the recent downturn.

Nationwide it might not, but in NJ its going to go down much further then it is right now.

The people trying to sell their houses on the most part are not being realistic. The prices they are asking for these houses is much more then they are worth

[EEEPNJ]

I just looked at some local properties and I was wondering what kind of crack the owners were smoking. I don't think we've seen the housing "bottom" in NJ yet...AND (even though it will hurt me as a homeowner) I don't see a "correction" of the absurdity that was taking place as a "bad" thing.

[GiantRutgersfan]

Originally Posted by EEEPNJ

I just looked at some local properties and I was wondering what kind of crack the owners were smoking. I don't think we've seen the housing "bottom" in NJ yet...AND (even though it will hurt me as a homeowner) I don't see a "correction" of the absurdity that was taking place as a "bad" thing.

They are out in left field. Got no clue whats going on.

Take your house off the market if your not gonna be realistic in your asking price.

[stevemorse]

Originally Posted by GiantRutgersfan

They are out in left field. Got no clue whats going on.

Take your house off the market if your not gonna be realistic in your asking price.

hey we agree!!!! I have seen some real wrecks for absurd prices. Now I have also seen some good bargains and wish I had money to play with. I have actually found some houses that were half and half with a little tlc but not major repairs could really be great. I am looking forward to a new place in 10 years. Its actually comforting to know the area you find want to stay in the rest of your old age.

My house that I sold the owners are still trying to dump it and it is so overpriced, they are dreaming. However I dont know if its price on some homes, I just think there are so many choices and something is always gonna be better than the next. SOrt like a new girlfriend. YOu can always find someone thinner, better, younger than yourself.

[hikinman63]

i myself enjoy some meat on my girls ,makes the lovin real nice

[Roselvr]

Depends where you're talking about.
While the market has slowed down, houses are still selling.

People from NY are still coming over and buying houses.

There is only so much land in parts of Jersey.

[DailyJournalist]

I also do not think that housing prices have bottomed out yet. But I do not think the Northeast states have much of a drop left when compared to some other states that have been hit hardest by the housing bubble. The states that will see the biggest drop in prices are Florida, California, and Michigan.

[lastinshow]

Originally Posted by DailyJournalist

I also do not think that housing prices have bottomed out yet. But I do not think the Northeast states have much of a drop left when compared to some other states that have been hit hardest by the housing bubble. The states that will see the biggest drop in prices are Florida, California, and Michigan.

While I agree that those states have bigger problems, I think the Northeast is just lagging and still has a good way to fall. With no funny money mortgages driving prices, they HAVE to fall to within income levels. And with Wall Street taking the hit it is, I don't believe we've seen the half of it here yet.

[NatasNJ]

I think that is key. Prices falling to INCOME levels. Here in SJ prices are still well above what MOST people can afford.

[Ellwood]

Originally Posted by lastinshow

While I agree that those states have bigger problems, I think the Northeast is just lagging and still has a good way to fall. With no funny money mortgages driving prices, they HAVE to fall to within income levels. And with Wall Street taking the hit it is, I don't believe we've seen the half of it here yet.

I agree with you lastinshow. The housing problem has worsened with Wall Street, high unemployment, rising prices, etc. With the added costs to the consumer, buying a house might not be a high priority when we are trying to feed and clothe our family, not to mention heat our homes. Many will have to decide whether or "heat or eat."