Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
After the economic meltdown is done, after we hopefully stop having the government force banks to lend to minority & low income neighborhoods by a certain percentage and after the recovery is underway, what do you think the housing market will look like in Raleigh & surrounding towns? I figure we will go back to our normal 3 to 4% appreciation rates, nothing new there. The big difference will be the types of homes being built. With hopefully much tighter lending practices and ratios and fewer people able to cash in to move here, I predict we will see small to medium size homes being the rage. Homes 2000 sq ft and under will be the hot thing. They will be more affordable to buy and much more economical to run. This may open up the market more to first time home buyers.
After the economic meltdown is done, after we hopefully stop having the government force banks to lend to minority & low income neighborhoods by a certain percentage and after the recovery is underway, what do you think the housing market will look like in Raleigh & surrounding towns? I figure we will go back to our normal 3 to 4% appreciation rates, nothing new there. The big difference will be the types of homes being built. With hopefully much tighter lending practices and ratios and fewer people able to cash in to move here, I predict we will see small to medium size homes being the rage. Homes 2000 sq ft and under will be the hot thing. They will be more affordable to buy and much more economical to run. This may open up the market more to first time home buyers.
I love how people who are new to the area always know what the future holds.
BTW, I've been watching conservative tear apart & destroy America.... it's all perspective.
I love how people who are new to the area always know what the future holds.
BTW, I've been watching conservative tear apart & destroy America.... it's all perspective.
Sorry, I guess I am responsible for tearing apart and destroying America. I actually think America is a pretty nice place despite your claims. In fact I think we have more people trying to get into America to live than we have leaving the country to live elsewhere!
Sorry, I guess I am responsible for tearing apart and destroying America. I actually think America is a pretty nice place despite your claims. In fact I think we have more people trying to get into America to live than we have leaving the country to live elsewhere!
I don't really believe that about conservatives... I was just commenting on Charlton Dude's status tag line and being a smart alec. I should have put scarcasm alert behind that. Sorry.
BTW, I personally am impressed that considering how different people's needs and wants are in this country that we have done as well as we are doing. All one has to do is take a drive across the country to see this. And I think you probably get this already.
I love how people who are new to the area always know what the future holds.
It's just a guess. No one knows, that's why we talk about stuff on a forum.
Quote:
Originally Posted by PDXmom
BTW, I've been watching conservative tear apart & destroy America.... it's all perspective.
No doubt, this is true. Concerning the current mess...not the war.....not the energy crisis.....not the healthcare......not the global warming debate.....but the housing market collapse, there is an easy trail to follow. I have studied it carefully and am aware that well intentioned Liberal policies got this snowball running downhill (government intervention to force banks to give mortgages to people that could not afford it, just because they were a minority or poor). Then everyone got their hands in the cookie jar. I always like to think something good comes of crisis moments, although I am quite ticked off now. We needed a reset in the market....not here, but nationwide. This is it. Hopefully we will get back to a normal market when this is done. Hopefully, we will start to build "normal" size houses here that "normal" income people can afford a little easier.
Perspective: Homes will sell for > $1m here as well as under <$200K just as they always have. The numbers of each will be different but the prices will be comparable. IMO there is nothing going on nationally that will not ripple to our NC area. This is known as a good old fashion correction! From Milk to Health care everything has been overpriced due to government subsidies, albeit overt or covertly. Oil does not magically go from $60 a barrel to $147 a barrel when there is no fundamental supply/demand changes. So we will correct back to a market generated level. How/when that comes to fruition is anyones guess but my bet is post election time!
Tighter lending standards aren't going to help first time home buyers. This area is going to be much better than most in the nation in dealing with home prices dropping.
Fortunately, young responsible couples will prevail in the end getting homes for a fraction of their former price.
Why only youung people?
The economy is going nuts no doubt, but I still have yet to see homes selling for pennies on the dollar here in Raleigh. Not even close at this point. If not now when? Will it be before or after John McCain buys up all those bad mortgages and renegotiates the principal?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Sorry
