[KevK]

An interesting article says 13 housing markets will never ever recover bubble values.

The 13 Housing Markets That Will Never Recover

[MomMom]

This was already posted and discussed in the Current Update on the Las Vegas Real Estate Market thread... see post #2516 on May 19....

[delgadobb]

Where's the beef?

All I see is pictures of a bunch of cities & statistics that may or may not be accurate. I can't find the story anywhere, just pictures, statistics & some user comments.

Never? Really? REALLY? Never's a mighty long time. Even though economic times are difficult, I'd love to see the supporting evidence that 13 different housing markets will NEVER recover. How about 10 years from now? 30 years? 50?

[skisickie]

That is just stupid. so much scientific backing to the data it is unreal.

[KidsinVegas]

And why would you want prices to be skyhigh?

Who benefits from high housing prices? The Government Tax man and Realtors. The ONLY time you want a high value is when you go to sell. The rest of the time a high value just cuts into your income.

Why do people think that "high value" equates to a better life. It doesn't.

Housing is high not because of building materials... it's because of all the costs associated with financing and paying the tax man.

So the less of a recover the better! There is no benefit to society at large to keep people enslaved to banks!

[KevK]

Originally Posted by KidsinVegas

And why would you want prices to be skyhigh?

Who benefits from high housing prices? The Government Tax man and Realtors. The ONLY time you want a high value is when you go to sell. The rest of the time a high value just cuts into your income.

Why do people think that "high value" equates to a better life. It doesn't.

Housing is high not because of building materials... it's because of all the costs associated with financing and paying the tax man.

So the less of a recover the better! There is no benefit to society at large to keep people enslaved to banks!

A high value is desired by many because they see it as wealth accumulation and an investment that beats inflation- which housing did for decades. It also enables them to borrow off the growth in equity.

[jpk]

Originally Posted by KevK

A high value is desired by many because they see it as wealth accumulation and an investment that beats inflation- which housing did for decades. It also enables them to borrow off the growth in equity.

It's not much different than paper wealth, until you actually sell it. Thinking you are a millionaire because you estimate your house to be worth $1mil is what got us into this mess. Even worse if you take a loan against it - you're not a millionaire, you're a mortgage payment from bankruptcy.

[MediocreButArrogant]

Rising housing prices keep undesirables out of the neighborhood. Falling prices let them in.

Cartman: (to Kenny) Goddamn it poor people suck. Your family is already on welfare and now you're gonna bring another kid into the world. Poor people are churning out babies, adding to the population and then expecting ME to pay for it with MY tax dollars.
Stan: You don't pay tax dollars Cartman, you're 8.

[Willy702]

Pretty stupid indeed. I could see the case of Michigan having a tough time recovering much value since most of the listed cities might as well contract their housing stock, but places like Las Vegas, Orlando or Riverside will eventually see more demand for housing and rising prices as a result.