Home prices drop in North Jersey in 1Q (Burlington, Wharton: house prices, buyers)

[pfwnj]

Just to throw another bone in the ring, I want to point out that I am not calling for 50% depreciation. I am, however, challenging the idea that Philly is undervalued, and hoping to have a strong counter-challenge so that I might understand the logic in calling it so, even if I don't agree with it.

[JG183]

Originally Posted by Autumn31

www.njrereport.com

funny how Mr. Bednar's blog has now become a factual (sic) reference point in any discussion of R.E. in NJ... it's like asking a plumber for advice on your electrical wiring

[NatasNJ]

Originally Posted by pfwnj

Just to throw another bone in the ring, I want to point out that I am not calling for 50% depreciation. I am, however, challenging the idea that Philly is undervalued, and hoping to have a strong counter-challenge so that I might understand the logic in calling it so, even if I don't agree with it.

I think Philly as a whole has been cheaper to live than most major cities. So it has never raised to the likes of NYC or SF or Boston. I wouldn't suggest it is undervalued though...

[MoorestownResident]

Originally Posted by NatasNJ

You are posting other peoples research and saying "look I am right" and when asked to explain yourself you deflect and call them trolls.

I agree this area is on fairly solid ground (SJ area) overall but it is still due for a correction. I am not one thinking/claiming 50% off peak. But 20-30% is probably realistic and being already off peak by 15% I think another 5-10% is realistic over the next year or two.

You can CLAIM you house has appreciated but that is all smoke and mirrors until you sell it at that new assumed value. You also put an addition on I recall so that skews your listing a little.

And being in a NJ forum you have to realize North Jersey posters are also in here so that comes with the terriority.

Sorry, you just don't know what you are talking about with respect to SJ. You're not from the area. SJ has corrected substantially much more than prior cycles. I posted the link to the data as recent as 1Q 09. If that doesn't provide some insight for you, nothing will.

[Newarkbomb]

Fort Myers.. a 50% drop... sheesh.

And we think we have it bad.

[NatasNJ]

Originally Posted by MoorestownResident

Sorry, you just don't know what you are talking about with respect to SJ. You're not from the area. SJ has corrected substantially much more than prior cycles. I posted the link to the data as recent as 1Q 09. If that doesn't provide some insight for you, nothing will.

Excuse me? I am from the area. My family has been here for generations. Just because I disagree with your assesment I don't know what I am talking about? What did I say that was so incorrect?

Did JG183 log into Moorestown's account? Cause you two are both whackados who are in such denial when it comes to real estate.

[CaptainNJ]

Originally Posted by NatasNJ

Did JG183 log into Moorestown's account? Cause you two are both whackados who are in such denial when it comes to real estate.

a couple of people i talk to dont want to agree with my opinions on the future of the real estate market. the realtor i have selling my apartment, and the realtor who is always contacting me about buying a house.

[gagaliya]

philly metro is fairly valued, nyc/nnj are not. Next topic....

[JG183]

Originally Posted by NatasNJ

you two are both whackados who are in such denial when it comes to real estate.

so anyone who disagrees with you super-bears is a "whackado"

...of course






PS: M-R has been here far longer than me

[MoorestownResident]

Originally Posted by JG183

so anyone who disagrees with you super-bears is a "whackado"

...of course






PS: M-R has been here far longer than me

I am no longer perpetuating R/E discussion. I post the facts from The Wharton School I am asked to explain them. I'm a wacko because a prof at PENN agrees with me. I've learned never get involved in circular discussions with the less-learned.