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Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,579,998 times
Reputation: 677
Quote:
Originally Posted by stosh
Ironic isn't it? I guess it's human nature.
A person in this position, if they are savvy enough and play their cards right, can have a net positive result.
A person in this position sadly won't be able to take advantage of the lower prices this market brings because they won't be able to sell their overpriced POS house.
A person in this position sadly won't be able to take advantage of the lower prices this market brings because they won't be able to sell their overpriced POS house.
Not if they have been renting all along, saving up for a down payment, living within their means and do not own an overpriced POS house.
The media is clearly over hyping the areas that have seen declines. The lower hudson valley in NY where I live has seen little decline if any. The towns I live around are slums but home values are up 400% since 2000, doubled since 2006 and see no sign of decline. A decent home even in those areas is upwards of 400k and in nicer areas over 500k and up.
How can people afford that, those prices are nuts. The house next door to me was only 130k in 1999 and now is over 400k. It is just insane.
What is worse since the annoucement of bailouts I have watched foreclosures virtually disappear from the listings. Probably the banks holding on to them waiting for our taxpayer dollars. Now people like me that saved and did do not do anything irresponsible will be picking up the tax tab for these bastards to keep these home values high.
It just does not make sense to buy now with home prices still so overvalued.
The media is clearly over hyping the areas that have seen declines. The lower hudson valley in NY where I live has seen little decline if any. The towns I live around are slums but home values are up 400% since 2000, doubled since 2006 and see no sign of decline. A decent home even in those areas is upwards of 400k and in nicer areas over 500k and up.
How can people afford that, those prices are nuts. The house next door to me was only 130k in 1999 and now is over 400k. It is just insane.
What is worse since the annoucement of bailouts I have watched foreclosures virtually disappear from the listings. Probably the banks holding on to them waiting for our taxpayer dollars. Now people like me that saved and did do not do anything irresponsible will be picking up the tax tab for these bastards to keep these home values high.
It just does not make sense to buy now with home prices still so overvalued.
Just wait a couple of months or so and you'll see prices in your area drop drastically. Your turn in coming.
I'm still curious how you KNOW this. You're on here touting yourself as an expert, but what are your expertise? Should we all just stop and listen to you because you post on a random message board? You could be 12 years old and live in Indonesia for all we know. What experience do you have to back up your "knowledge"?
I'm still curious how you KNOW this. You're on here touting yourself as an expert, but what are your expertise? Should we all just stop and listen to you because you post on a random message board? You could be 12 years old and live in Indonesia for all we know. What experience do you have to back up your "knowledge"?
I'm curious of the same. It appears one becomes an "expert" on this forum if they can provide links to "data" that can be read elsewhere. That's their proof that they know all about the RE market. If there are posts to the contrary to dispute what is being reported, then they want "more data" to read to back up your case.
Just wait a couple of months or so and you'll see prices in your area drop drastically. Your turn in coming.
Hudson Valley, I don't know if what your prices are going to do-- but proceed with caution. Lots of communities have called "not us" only to find out they were late to the game.
This is a bizarre market. If you're personally involved in it and local prices seem out of whack, be very careful about what you do next.
I think certain places that have always been very desirable to live in will not face the same kind of drop in prices. That has been our experience.
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