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Old 01-28-2011, 04:24 AM
 
16,434 posts, read 20,195,212 times
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A Frightening Satellite Tour Of America's Foreclosure Wastelands

Look at all the foreclosures along the Front Range.
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Old 01-28-2011, 05:10 AM
 
Location: Between Heaven And Hell.
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Originally Posted by Bideshi View Post
A Frightening Satellite Tour Of America's Foreclosure Wastelands

Look at all the foreclosures along the Front Range.
And I thought we had it bad in the UK. Really interesting!

The page on, “The 15 Housing Markets That Will Fall The Most By 2012”, is really interesting too.

It could be a good time for anyone thinking of moving to just sit and wait it out until the market stabilises.
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Old 01-28-2011, 09:32 AM
 
Location: Denver
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I was surprised to see Boise, Idaho on that list.

Population density has a lot to do with the number of dots. Things look unusually bad around the Great Lakes, Florida, and California though.
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Old 01-28-2011, 09:57 AM
 
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The bubble had to burst sometime. I don't think this sh*t storm is going to be over for at least 2-3 more years. RP
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Old 01-28-2011, 11:24 AM
 
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Originally Posted by proveick View Post
The bubble had to burst sometime. I don't think this sh*t storm is going to be over for at least 2-3 more years. RP
I would put a '1' in front of your estimates.

12-13 years if we are LUCKY. Remember, the Great Depression didn't really end until we entered WWII. The true national unemployment rate right now is approaching the unemployment rate during the depression (25%), and it is actually higher in Michigan and California than it was in those states during the depression. The true unemployment rate is U-6+ some.

The housing market still has a long, long way to fall in most areas of Colorado, because the prices are still way out of line with the median incomes. The only places where the prices have bottomed are places like Detroit and other areas of the rustbelt. Take a look at prices there, and you'll get a preview of what will happen here. I'm not saying we'll be quite as bad, because we still attract immigrants, but it wouldn't surprise me if real estate prices in Colorado drop to 1990 levels.
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Old 01-28-2011, 12:44 PM
 
23,048 posts, read 42,182,624 times
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Originally Posted by Bideshi View Post
...Look at all the foreclosures along the Front Range.
Rational adults refer to that as a "buying opportunity."
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Old 01-28-2011, 01:17 PM
 
Location: Just south of Denver since 1989
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Housing prices have nothing to do with median incomes.

Colorado housing prices have not inflated 10% or more over the last decade, and have remained rather flat.

What did not go up, cannot come down.
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Old 01-28-2011, 06:21 PM
 
Location: Everywhere and Nowhere
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So what would the Satellite map of not-foreclosed houses look like?
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Old 01-28-2011, 06:25 PM
 
Location: in here, out there
3,061 posts, read 6,157,853 times
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Quote:
Originally Posted by CAVA1990 View Post
So what would the Satellite map of not-foreclosed houses look like?
It looks like someone dropped a thousand gumballs on a map. Everyone's screwed.
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Old 01-28-2011, 07:40 PM
 
2,253 posts, read 6,372,275 times
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Wink To put a picture with it

When speaking of foreclosures and decline, etc., this comes to mind:
American Gothic: Albert Kahn and the Decline of Detroit - SPIEGEL ONLINE - News - International


It concerns Detroit, but if wishing local examples then visit some of the Colorado ghost towns, or some headed that way. Be sure and look at the pictures from this reference. Quite fascinating. Some superb architecture, surely at inception meant for the ages. And now . . .
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