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Old 04-26-2011, 07:15 PM
 
36 posts, read 64,671 times
Reputation: 63

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Quote:
Originally Posted by newyorker24 View Post
The Tampa market overall might be down, but there could be pockets that are doing better. As far as rising prices, there's nothing wrong with that. They cannot stay as low as they are now forever. I'm not saying the way prices got in 2005-2006 is good either, but there has to be a happy medium. The more prices do down and stay low the more likely it is that homeowners will choose to walk away from their homes because they are paying mortgages on houses that are now worth half of what they owe on them, or even less. That will only add to the problem. And as much as I don't like them, investors put a lot of money into housing around here. If they do not recoup it they won't be investing in anything else.

The only people I know rooting for the prices to keep going down or even stay where they are seem to be selfish renters who hope they will be able to buy a 2,000 square foot, 5 year old house for $50k pretty soon.
What makes you think prices are "low" right now? Low compared to what? Bubble pricing? If you take a look at a chart of a ratio of median income to median home prices over time you'd see that prices really aren't all that low right now. They're actually still above their long term average. What we're seeing now I wouldn't term as low prices. It's more appropriate to say that prices are normalizing.
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Old 04-26-2011, 07:36 PM
 
769 posts, read 2,045,208 times
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Quote:
Originally Posted by TerdFerguson View Post
What makes you think prices are "low" right now? Low compared to what? Bubble pricing? If you take a look at a chart of a ratio of median income to median home prices over time you'd see that prices really aren't all that low right now. They're actually still above their long term average. What we're seeing now I wouldn't term as low prices. It's more appropriate to say that prices are normalizing.
Low prices are when 10-15 year old houses are selling for less than they were built for or the same amount. Over 10-15 years prices should go up.

The other thing people don't realize is that banks will do whatever they have to do to stay in business. So the more they keep losing on short sales and foreclosures, the more they will raise interest rates, fees, and lending criteria. And don't even try to tell me this the banks' fault. They did not force anyone to buy a house they couldn't really afford with an ARM. When I started looking I got approved for $320k- but I chose to buy a house I knew I could pay for with no worries.
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Old 04-26-2011, 09:22 PM
 
1,106 posts, read 2,274,620 times
Reputation: 962
Quote:
Originally Posted by newyorker24 View Post
As far as rising prices, there's nothing wrong with that.
When I hear people complaining about high gas, food or health care costs, I tell them the same thing. How dare people want to pay less for their necessary expenses!
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Old 04-27-2011, 05:42 AM
 
769 posts, read 2,045,208 times
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Quote:
Originally Posted by chi_tino View Post
When I hear people complaining about high gas, food or health care costs, I tell them the same thing. How dare people want to pay less for their necessary expenses!
Well when all the property in the Tampa Area is worthless and you can buy your dream 2 story, recently built house on a corner lot with a pool for $50k, let's see how much good that really does for the overall economy.
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Old 04-27-2011, 06:32 AM
 
1,106 posts, read 2,274,620 times
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I recently did, buying a waterfront house for about 1/10 of what would have paid in a "real" city. I hope I can soon buy my neighbor's house, too.

It sounds like you're stuck in a 500 ft^2 apartment. Don't be bitter -- you'll get out of there one day.
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Old 04-27-2011, 06:54 AM
 
769 posts, read 2,045,208 times
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Quote:
Originally Posted by chi_tino View Post
I recently did, buying a waterfront house for about 1/10 of what would have paid in a "real" city. I hope I can soon buy my neighbor's house, too.

It sounds like you're stuck in a 500 ft^2 apartment. Don't be bitter -- you'll get out of there one day.
Lol if you did that was literally in the middle of nowhere. Isn't happening in my subdivision. Are you sure it's not an old beat up mobile home? Waterfront- is there a pond behind your property? And you are way off on my situation so stop making dumb assumptions. I live right here in the Tampa area in a very large house.
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Old 04-27-2011, 09:37 AM
 
Location: Myrtle Beach
3,381 posts, read 9,091,713 times
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Quote:
Originally Posted by newyorker24 View Post
Well when all the property in the Tampa Area is worthless and you can buy your dream 2 story, recently built house on a corner lot with a pool for $50k, let's see how much good that really does for the overall economy.
Let me know when I can find one of those in an area I want to live for $150K. Been looking, seen a few but nothing I am dying to get into.
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Old 04-27-2011, 10:01 AM
 
1,106 posts, read 2,274,620 times
Reputation: 962
This is what you can get now for a few hundred grand in a foreclosure purchase. That's a third of an acre lot on Tampa Bay, btw. I don't care about the economy "collapsing", like you claim, because that just means my expenses fall further. That's why I moved here from a big city up north. I am living like a king at about 1/3 of my previous cost of living expenses.

I'm still confused why someone would advocate paying MORE for their necessary expenses, but I'm sure you have your reasons.

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Old 04-27-2011, 10:18 AM
 
769 posts, read 2,045,208 times
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Quote:
Originally Posted by chi_tino View Post
This is what you can get now for a few hundred grand in a foreclosure purchase. That's a third of an acre lot on Tampa Bay, btw. I don't care about the economy "collapsing", like you claim, because that just means my expenses fall further. That's why I moved here from a big city up north. I am living like a king at about 1/3 of my previous cost of living expenses.

I'm still confused why someone would advocate paying MORE for their necessary expenses, but I'm sure you have your reasons.
So you paid several hundred thousand for this- not $50k right? That's what I thought. And now the economy collapsing is a good thing because you can buy everything for less? You really need a reality check. You are probably retired, which means you don't care about jobs, and you don't care about how things will be 20 years from now. Like I stated in a previous post- selfish.
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Old 04-27-2011, 10:19 AM
 
769 posts, read 2,045,208 times
Reputation: 284
Quote:
Originally Posted by FloridaKash View Post
Let me know when I can find one of those in an area I want to live for $150K. Been looking, seen a few but nothing I am dying to get into.
There are some close to my house with pools, on conservation ponds around $180k.

My point is that I hope the prices never get so low you can buy a house like the one I described for $50k.
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