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I'd like to know what they actually said to, does anyone know where we can see it?? Also isnt there anyone who will admit to being involved in real estate who can weigh in on the argument with their opinion?
As the numbers show, the McMansion market is being hurt the worst (who woulda thunk? ), but as I said earlier, the average person is not as bad off as advertised by the "we're all gonnnnnaaaaa dddiiiiiiieeeeee!!!!" crowd:
"Sales of homes under $285,000 seem to be stable with only a small excess in inventory. This would indicate that the "average" buyer has plenty of homes to choose from and most of them are at fair market value."
In addition, here are some facts you won't hear from the chicken littles:
-- Asheville did not see nearly the type of speculation as other markets in CA and FL that the doomsayers keep comparing us to, in part because of sheer geological nature of the area (those big rock-like structure thingies keep getting in the way).
-- Asheville did not see the level of sub-prime loans as these other markets, in part because North Carolina has tighter regulations in the mortgage industry than they do. In fact, Buncombe County was the first in the country to pass laws against predatory lending. The tighter regulations also help explain the lower degree of speculation.
-- The unique demographics of Asheville have mitigated the effects to a degree (the lauded "price-to-income" ratio number has already been sufficiently debunked here).
Most people are predicting continued declines in 2009 (worse than 2008), which would make sense if the housing market bottom were to occur in late 2009/early 2010 as the stock market may be predicting. So in that sense, "the worst is yet to come" -- but no one that I'm aware of is predicting anywhere close to 30-40% declines in NC.
There was absolutely nothing in the article that could be considered to be "newsworthy" by my estimation. It was a human interest story -- aka, entertainment, not information. Like most stuff in the media, a time killer.
For example: how are you better equipped to handle the issues discussed after reading the article? Did they provide you with some new information that you might use to better your situation? Did they give you tips on weathering the storm? Did they advise you on what to do? Did they provide some detailed analysis of the issue so that you can take action?
Nah. All it really does is spread more fear, which actually compounds the problem, much like the posters on this board who are determined to convince us the market is collapsing (and to what benefit, you might ask yourself).
The housing bubble has burst -- folks lost a lot of money in the stock market -- many retirees aren't going to be able to retire as soon as they thought. These are all really bad things, but DUH -- like we didn't already know that!
Unfortunately, the reason people feel compelled to spread their personal fears among others is because, quite simply, misery loves company. The mainstream media would cease to exist otherwise.
Ya know that people that prepare for hard times are much more able to deal with hard times than those that choose to deny hard time will occur and as a result are completely unprepared to deal with them.
Ya know that people that prepare for hard times are much more able to deal with hard times than those that choose to deny hard time will occur and as a result are completely unprepared to deal with them.
Well yeah -- plan for the worst, but hope for the best -- that's common sense.
But no one is claiming that there aren't hard times or that hard times won't occur in the future.
Do you still have a job?
Do you still have a home?
If yes, then perhaps you should just give thanks for what you have, which is a more productive use of your energy -- certainly more useful than spreading irrational fears about what *might* happen (but probably won't).
Other things to be thankful for:
-- Asheville's unemployment rate is below the national average.
-- Asheville's homes haven't seen anywhere near the declines as most other areas (and probably won't).
-- You live in one of the most beautiful places in the country.
-- There is no shortage of outstanding brew pubs in which to drown your sorrows.
-- If you do lose your job, there is no shortage of outdoor activities to fill up your days.
-- A dozen massage therapists to choose from on every block.
-- Andie McDowell lives there.
-- You get free entertainment in Pritchard Park every weekend.
-- Asheville's unemployment rate is below the national average.
Too bad that UNDERemployment figures are not tracked and published. Here the PhD's bring you your food, and the Master degrees bus the table. The Bachelor degree's people ask "do you want fries with that"
Quote:
Originally Posted by NC_Paddler
-- Andie McDowell lives there.
Well why didn't you say so, that is a critical component of the greatness of the area, right up there with rainbows and unicorn farts.
Quote:
Originally Posted by NC_Paddler
-- You get free entertainment in Pritchard Park every weekend.
I ain't free, it costs taxpayers plenty, both up front in the cost of a full time employee to police a park that is about a tenth of an acre, and less visible costs to taxpayers and businesses dealing with the pond scum that pollutes the area with drug use, vandalism, panhandling, petty crime, and urinating or defecating where ever they find convenient.
Well why didn't you say so, that is a critical component of the greatness of the area, right up there with rainbows and unicorn farts.
How many more times are you going to write about "rainbows and unicorn farts"? It's like in every thread you post in now, and it wasn't even that funny to begin with.
How many more times are you going to write about "rainbows and unicorn farts"? It's like in every thread you post in now, and it wasn't even that funny to begin with.
How many more times are you going to write about "rainbows and unicorn farts"? It's like in every thread you post in now, and it wasn't even that funny to begin with.
Talk about flogging a dead horse...
Unicorn farts and Andie McDowell living here have exactly the same effect on living in Asheville, none, thus a very fair comparison.
Sorry that stating the true reality of your fairy tale so distresses you.
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Why the sky is not falling
), but as I said earlier, the average person is not as bad off as advertised by the "we're all gonnnnnaaaaa dddiiiiiiieeeeee!!!!" crowd:
