SJ is not immune to the housing crisis. (Haddonfield: for sale, credit report)

[NatasNJ]

I am just posting a few listings that I came across that sold within the last few years for a documented price and are now listed for sale at a MUCH lower price.

156 Ardmore Ave, Haddonfield, NJ 08033 - Zillow

600 Estaugh Ave, Haddon Township, NJ 08108 - Zillow

[Delphi]

Originally Posted by NatasNJ

I am just posting a few listings that I came across that sold within the last few years for a documented price and are now listed for sale at a MUCH lower price.

156 Ardmore Ave, Haddonfield, NJ 08033 - Zillow

600 Estaugh Ave, Haddon Township, NJ 08108 - Zillow

SJ will look worse than North Jersey in a year or so because of unemployment growth.

Rule of thump is: the quicker the bottom, the quicker the rise.

Look at the retail numbers. With rising unemployment, people are cutting back and they wouldn't dare to buy expensive houses.

[njguy]

My brother is a Realtor down in Cherry Hill and tells me it "stinks" there plus too many people with awful looking credit reports never mind scores.

[Delphi]

Originally Posted by njguy

My brother is a Realtor down in Cherry Hill and tells me it "stinks" there plus too many people with awful looking credit reports never mind scores.

That said, where are the jobs in SJ that can support housing during this recession?

[JG183]

Originally Posted by NatasNJ

I am just posting a few listings that I came across

why ?

[NatasNJ]

Originally Posted by JG183

why ?

Why not?

[Delphi]

Originally Posted by NatasNJ

Why not?

I have a friend who, even today, doesn't see any problem in the economy. He says we will be fine, we will be fine. "This" kind of things keep happening. But he fails to see how many people have lost their 401k saving, housing, jobs and their pain. And those who are near their retirement? I feel bad for them. For no reason of their own, they have to take the burden of those irresponsible people.

It's good for the health of the country if the house price comes down so that people can buy houses and still have some spare money to spend on something else.

So house price coming down is a good sign and then why not post?

When housing was going ga ga, everybody pasted those news. Then why not now??

[JG183]

Originally Posted by Delphi

I have a friend who...says we will be fine, we will be fine. "This" kind of things keep happening.

he's right.

Originally Posted by Delphi

But he fails to see how many people have lost their 401k saving, housing, jobs and their pain.

are you sure he doesn't see ?

regardless, what good will come of dwelling on it ?

Originally Posted by Delphi

It's good for the health of the country if the house price comes down

prices have come down.

further destruction will only cause harm.

[NatasNJ]

Originally Posted by JG183

prices have come down.

further destruction will only cause harm.

Wait. Why would prices "come down" in the SJ area if it never had any type of bubble or unusually high appreciation?

[Delphi]

Originally Posted by JG183

he's right.

He is wrong. So you are. "This" kind of wealth destruction didn't happen since great depression. It does not "keep" happening.

are you sure he doesn't see ?

Yes I am. Not only me, every other friends of his sees that.

regardless, what good will come of dwelling on it ?

what bad is that? It's a good news. Why not spread it??!!

prices have come down.

further destruction will only cause harm.

To whom? Let the market bottom, people will jump to buy houses. We will again see economic activities. Now it's a deadlock and it's bad.