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Old 09-11-2012, 06:05 AM
 
30 posts, read 72,265 times
Reputation: 16

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Quote:
Originally Posted by Fiddlehead View Post
Looks like year over year rises in housed prices were the highest in 6 years. That is a very good sign.
Ultimately, most Americans' net worth is tied up in real estate, and now that housing has found a floor, we can begin the recovery in earnest.

A housing recovery will help either Romney or Obama. In the former, it will give a better impression that would probably be deserved, and would undoubtedly help with reelection prospects. With the latter, it will vindicate the hard work of the last few years, that were being undermined by the steady drop in house prices, which was hammering the middle class well after the "recession" was over.

Another 3 to 5 million foreclosures destined to happen, banks and Govt are trickling homes onto the market place to help prevent a total crash, the problem is, it will drag out a true recovery in housing for a decade.
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Old 09-11-2012, 06:42 AM
 
11,523 posts, read 14,611,972 times
Reputation: 16821
Rising in certain areas only. I lived in an area where prices were still dropping a bit, 5% in the last year from May '12, yet the 2 surrounding areas, minutes from me, houses had gained 20 grand in that same past year. Arizona, hit and miss.

Last edited by Nanny Goat; 09-11-2012 at 06:52 AM..
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Old 09-11-2012, 06:53 AM
 
Location: Hyrule
8,390 posts, read 11,574,188 times
Reputation: 7544
Capitalism is feed by supply and demand. Even if we sometimes create a false demand. About half or more of all demand is created in order to profit. It's how our economy works. Unless we are changing that fact, there will be inflated, false bubbles regarding most everything at some point. It's always a roller coaster market effect to some degree, can't really avoid it.
If our government requires more down when lending then we get upset at government involvement, if they don't we get inflated markets and crashes like we've just been through. It's a difficult line to walk.

I get surprised when nobody realizes how capitalism works in our country. The biggest difference is as of late it isn't creating more jobs, it's creating more profit for a smaller number of people. Those people has no ill effects during this recession. They are fine.

People get paid big bucks to create false demand constantly, it feeds the system we run on.
You can change capitalism if you want, it depends on what you buy. It's individual, which is a problem. Creating a false need in this society or a want that over powers us is easy.

Another issue, world economy. Now that we out source the game is changing. The cheaper we buy from foreign countries the more our capital supports them. We have yet to grip the world market. We need to be exporting more, finding a demand somewhere but here in order to continue our capitalism ways. It won't be easy since we are use to having more, not less. IMO of course.

So far we've only done this with weapon sales. We create war to make weapons companies rich. They have a monopoly going lead by the U.S. of A.

Our housing market will reflect our demand, which will reflect our income, which will reflect our willingness to play the world market. It's a slow go so far, we still don't get the fact that our government will always be in dept. It's a struggle we can't let go of so we are hindered by the lack of clarity on the FED RESERVE, and the part that banks as a whole play in the game.

A detailed look at our history proves useful.
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Old 09-11-2012, 06:57 AM
 
Location: Hyrule
8,390 posts, read 11,574,188 times
Reputation: 7544
Quote:
Originally Posted by Upstate Nancy View Post
Rising in certain areas only. I lived in an area where prices were still dropping a bit, 5% in the last year from May '12, yet the 2 surrounding areas, minutes from me, houses had gained 20 grand in that same past year. Arizona, hit and miss.
I'm in Phoenix and things are rising for the most part. We even had a bit of a run on inventory. Just bought a new build and by the time I closed they had raised their selling price by 40 thou. I moved in with a gain. I do realize it could go down any second but for now it's rising steadily. The supply is good, the demand to get in before they rise worked well. Investors helped spur a false frenzy.
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Old 09-11-2012, 07:04 AM
 
11,523 posts, read 14,611,972 times
Reputation: 16821
Quote:
Originally Posted by PoppySead View Post
I'm in Phoenix and things are rising for the most part. We even had a bit of a run on inventory. Just bought a new build and by the time I closed they had raised their selling price by 40 thou. I moved in with a gain. I do realize it could go down any second but for now it's rising steadily. The supply is good, the demand to get in before they rise worked well. Investors helped spur a false frenzy.
I'm glad things are getting better. Good for all of us.
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Old 09-11-2012, 07:06 AM
 
Location: Florida
33,509 posts, read 18,076,105 times
Reputation: 15498
Quote:
Originally Posted by PoppySead View Post
Capitalism is feed by supply and demand. Even if we sometimes create a false demand. About half or more of all demand is created in order to profit. It's how our economy works. Unless we are changing that fact, there will be inflated, false bubbles regarding most everything at some point. It's always a roller coaster market effect to some degree, can't really avoid it.
If our government requires more down when lending then we get upset at government involvement, if they don't we get inflated markets and crashes like we've just been through. It's a difficult line to walk.

I get surprised when nobody realizes how capitalism works in our country. The biggest difference is as of late it isn't creating more jobs, it's creating more profit for a smaller number of people. Those people has no ill effects during this recession. They are fine.

People get paid big bucks to create false demand constantly, it feeds the system we run on.
You can change capitalism if you want, it depends on what you buy. It's individual, which is a problem. Creating a false need in this society or a want that over powers us is easy.

Another issue, world economy. Now that we out source the game is changing. The cheaper we buy from foreign countries the more our capital supports them. We have yet to grip the world market. We need to be exporting more, finding a demand somewhere but here in order to continue our capitalism ways. It won't be easy since we are use to having more, not less. IMO of course.



So far we've only done this with weapon sales. We create war to make weapons companies rich. They have a monopoly going lead by the U.S. of A.

Our housing market will reflect our demand, which will reflect our income, which will reflect our willingness to play the world market. It's a slow go so far, we still don't get the fact that our government will always be in dept. It's a struggle we can't let go of so we are hindered by the lack of clarity on the FED RESERVE, and the part that banks as a whole play in the game.

A detailed look at our history proves useful.
I read that 30% of the homes were for flipping or second homes. Illegal immigrants bought, foreigners bought.. Imagine an illegal coming over here having a house built and never making the first payment , live in it for 3-4 years and then the bank forecloses .
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Old 09-11-2012, 07:26 AM
 
25,803 posts, read 16,451,635 times
Reputation: 15993
Quote:
Originally Posted by Fiddlehead View Post
Looks like year over year rises in housed prices were the highest in 6 years. That is a very good sign.
Ultimately, most Americans' net worth is tied up in real estate, and now that housing has found a floor, we can begin the recovery in earnest.

A housing recovery will help either Romney or Obama. In the former, it will give a better impression that would probably be deserved, and would undoubtedly help with reelection prospects. With the latter, it will vindicate the hard work of the last few years, that were being undermined by the steady drop in house prices, which was hammering the middle class well after the "recession" was over.
I predicted this in the spring. The last few years I have bought a house a year to renovate and re-sell. This spring every single house I bid on was scooped up by investors. I ended up buying a foreclosure about 3 blocks from my house for twice what I usually pay and will be lucky to clear 10K from 3 months of work. So I think my little side enterprise is over. Houses are getting snapped up right and left. The house across the street from me just sold in 3 days for within $5000 of the asking price.
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Old 09-11-2012, 08:57 AM
 
Location: Florida
33,509 posts, read 18,076,105 times
Reputation: 15498
Quote:
Originally Posted by PullMyFinger View Post
I predicted this in the spring. The last few years I have bought a house a year to renovate and re-sell. This spring every single house I bid on was scooped up by investors. I ended up buying a foreclosure about 3 blocks from my house for twice what I usually pay and will be lucky to clear 10K from 3 months of work. So I think my little side enterprise is over. Houses are getting snapped up right and left. The house across the street from me just sold in 3 days for within $5000 of the asking price.
It depends on your area.
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Old 09-11-2012, 09:04 AM
 
Location: Long Island
32,816 posts, read 19,431,094 times
Reputation: 9618
Quote:
Originally Posted by Fiddlehead View Post
Looks like year over year rises in housed prices were the highest in 6 years. That is a very good sign.
Ultimately, most Americans' net worth is tied up in real estate, and now that housing has found a floor, we can begin the recovery in earnest.

A housing recovery will help either Romney or Obama. In the former, it will give a better impression that would probably be deserved, and would undoubtedly help with reelection prospects. With the latter, it will vindicate the hard work of the last few years, that were being undermined by the steady drop in house prices, which was hammering the middle class well after the "recession" was over.
housing is still way overpriced
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Old 09-11-2012, 09:07 AM
 
Location: Long Island
32,816 posts, read 19,431,094 times
Reputation: 9618
Quote:
Originally Posted by Loveshiscountry View Post
Until housing prices hit ~2001-2 levels they are overpriced. That's when prices started jumping because of the government manipulation in the free market.
they started jumping(at record increases) in 95/96
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