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Old 02-24-2010, 11:10 PM
 
Location: The Republic of Texas
60,043 posts, read 30,586,259 times
Reputation: 12808

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When they start cutting government jobs, you know there may be hope.
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Old 02-24-2010, 11:15 PM
 
Location: mancos
7,044 posts, read 6,168,477 times
Reputation: 4532
Quote:
Originally Posted by BentBow View Post
When they start cutting government jobs, you know there may be hope.
the feds are hiring faster than the states can layoff. the IRS alone just hired 2000 more auditors plus a mess of shotguns
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Old 02-25-2010, 09:18 AM
 
Location: Raleigh, NC
20,006 posts, read 15,171,664 times
Reputation: 3739
Default Green shoots! House prices will continue to fall

Duck! Watch out for falling home prices - Feb. 25, 2010

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Old 02-25-2010, 09:21 AM
 
Location: Londonderry, NH
41,505 posts, read 49,538,721 times
Reputation: 24548
Good. Maybe they will drop low enough I'll be able to afford one after I retire.
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Old 02-25-2010, 09:42 AM
 
5,165 posts, read 5,168,901 times
Reputation: 1064
Quote:
Originally Posted by GregW View Post
Good. Maybe they will drop low enough I'll be able to afford one after I retire.
DAMN IT! I just signed a contract to buy our first home.

But I have a great mortgage rate (historically speaking) and will get the tax credit.

And its a nice house. So I guess I will just have to live with being underwater until the foreclosures clear the market. I d say 5-7 years.
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Old 02-25-2010, 09:44 AM
 
23,873 posts, read 17,571,986 times
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Quote:
Originally Posted by GregW View Post
Good. Maybe they will drop low enough I'll be able to afford one after I retire.
yeah that would be fantastic. billions more lost in equity and who knows how many more foreclosures, a quarter of all mortgages underwater, but it's ok because gregw can buy a house now.
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Old 02-25-2010, 09:45 AM
 
Location: Raleigh, NC
20,006 posts, read 15,171,664 times
Reputation: 3739
Quote:
Originally Posted by uggabugga View Post
yeah that would be fantastic. billions more lost in equity and who knows how many more foreclosures, a quarter of all mortgages underwater, but it's ok because gregw can buy a house now.
It's not just gregw. It's all savers who worked hard and sacrificed by denying themselves a house they thought was overpriced or out of reach. They will reap huge rewards. God bless 'em.
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Old 02-25-2010, 09:48 AM
 
5,165 posts, read 5,168,901 times
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Quote:
Originally Posted by uggabugga View Post
yeah that would be fantastic. billions more lost in equity and who knows how many more foreclosures, a quarter of all mortgages underwater, but it's ok because gregw can buy a house now.
Well, there a millions of people who have had to rent (self included and not that its a bad thing to rent) the last 7 years who could not afford homes while they were skyrocketing out of control.

And those who did buy homes at that time did it with fuzzy math mortgages.

Prices have to come back in line.
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Old 02-25-2010, 09:49 AM
 
23,873 posts, read 17,571,986 times
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Quote:
Originally Posted by summers73 View Post
It's not just gregw. It's all savers who worked hard and sacrificed by denying themselves a house they thought was overpriced or out of reach. They will reap huge rewards. God bless 'em.
they'll only reap huge rewards if the prices don't slide further and/or they keep ownership for however many years a recovery takes.

i was one of those who 'denied [myself] a house [i] thought was overpriced or out of reach' until i bought one last october. it's a roll of the dice at this point.
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Old 02-25-2010, 09:50 AM
 
Location: Raleigh, NC
20,006 posts, read 15,171,664 times
Reputation: 3739
Quote:
Originally Posted by uggabugga View Post
they'll only reap huge rewards if the prices don't slide further and/or they keep ownership for however many years a recovery takes.
Eventually, the prices will stabilize. Maybe when they're 100K, 50K, or 20K. But they eventually will. Nothing can stop it. Nothing.

Quote:
i was one of those who 'denied [myself] a house [i] thought was overpriced or out of reach' until i bought one last october. it's a roll of the dice at this point.
I've owned since '00. I don't own as an investment, I own to enjoy even though I KNOW the prices will continue to fall. Just like buying a boat or a car.
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