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This is a fantastic video that shows the similarity of the current housing/credit crisis and the lies told before, during and right after the great depression.
This will blow you away and should help you realize that prices are and must get back to normal. Normal being prices pre 2000 and most likely similar to 1996 or before.
Once again I must post the chart created by Robert Schiller who co created the S&P home pricing index. Realtors and people in the housing industry are like politicians, they will say anything to get what they want. Politicians want elected and housing people want commisions. A good rule of thumb is "never trust someone who works on commision".
Historical data on housing can't be denied. Facts are facts. I've yet to hear anyone be able to debate or argue anything after reviewing the above data. The reason why? It's obvious this was a mega bubble and prices will continue to drop until they are back to historical values, 1996 or before. Of course anyone who purchased during the peak bubble years will try not want to accept that and housing employees will do the same.
I've yet to hear anyone be able to debate or argue anything after reviewing the above data.
Dude...you are posting national statistics and pawning them off as Lehigh valley grade info.....get something that pretains to this area and I would be glad to discuss.
You just can't accept that prices have dropped around the lehigh valley and will continue until they are near the mid 90's levels. Foreclosures are up 40% for lehigh & norhampton counties.
Remember people, never trust anyone that works on commision.
Dude...you are posting national statistics and pawning them off as Lehigh valley grade info.....get something that pretains to this area and I would be glad to discuss.
Otherwise, just post on the national forums.
I've produced charts, data and yet you still want more. You can't argue the facts. I thought you were blocking me anyway? You can't handle the plain truth that prices have dropped 20-30% here and will continue to "correct", lol, until they are back to mid 90's levels.
This was a bubble and history shows all bubbles crash. This bubble is like nothing we've seen before. PLEASE DEBATE ME ON THIS CHART BELOW. IT'S EXACTLY THE SCENARIO THAT'S PLAYED OUT IN OUR AREA. EXPLAIN WHY YOU THINK THIS WAN'T A BUBBLE AND PRICES WILL NOT DROP BACK DOWN LIKE THEY HAVE FOR OVER 115 YEARS. THAT'S ACCORDING TO RAW FACTS, NOT REALTOR LIES. http://graphics8.nytimes.com/images/...aph2.large.gif
Methinks I'm glad to be living in an area where the housing prices are still appreciating.
I think the Scranton/Wilke-Barre area is great. You can still buy a home in a good town around there for under 75k.
You did see a bubble there but only 1/2 of what happened in the lehigh valley. It will crash too just not as bad.
Scranton, P.A. 12-month forecast:2.2% Median home price: $128,000 One year price change: 7.2% Five year price change: 41.1% Change in foreclosure rate: 8%
We didn't enjoy the "bubble," so we're not being burned now that it has "burst." I can't believe the difference in housing prices a mere hour up and down I-476 can make. You can still find a nice home in Wilkes-Barre for $75,000. That same home would be $100,000 in Scranton (where housing prices have been increasing a bit more rapidly), and $200,000 (Yes, twice as much!) in the Lehigh Valley.
You can still find a nice home in Wilkes-Barre for $75,000. That same home would be $100,000 in Scranton (where housing prices have been increasing a bit more rapidly), and $200,000 (Yes, twice as much!) in the Lehigh Valley.
Yeah, but the question is is how many of the 200k homes are selling in the valley these days. I put mine up 2 weeks ago and every day I'm a nervous wreck. We've had about 5 showings, with 2 more scheduled, so that helps. I'm hoping that special buyer comes along and loves my house so I can move to Raleigh already.
Yeah, but the question is is how many of the 200k homes are selling in the valley these days. I put mine up 2 weeks ago and every day I'm a nervous wreck. We've had about 5 showings, with 2 more scheduled, so that helps. I'm hoping that special buyer comes along and loves my house so I can move to Raleigh already.
What's the average homes around the triangle these days?
What's the average homes around the triangle these days?
I dont know what the average is, but for $250k I can get a heck of a lot more house there than I can here. $250k gets me brand new 4 bedroom, 3.5 baths, 3 floor, huge bonus room, on a .2 acre lot with most of the bells and whistles.
I'll be honest...i dont know for the life of me how housing appreciated so much in this area. My feeling is its the people from NY moving in and driving up prices because its too cost prohibitive to buy in NY. Regardless,as long as one of them buys my house I'm happy.
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Scranton
