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Old 10-01-2008, 12:17 PM
 
191 posts, read 688,932 times
Reputation: 44

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Please note that the two threads dealing with the housing market in the Lehigh Valley have now been merged.

House prices in 20 U.S. cities declined in July at the fastest pace on record, signaling the worst housing recession in a generation had yet to trough even before this month’s credit crisis.
The S&P/Case-Shiller home-price index dropped 16.3 percent from a year earlier, more than forecast, after a 15.9 percent decline in June. The gauge has fallen every month since January 2007, and year-over-year records began in 2001.


The rest of the article is below.

http://www.bloomberg.com/apps/news?p...0C0&refer=home

Last edited by toobusytoday; 10-06-2008 at 07:01 AM..
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Old 10-01-2008, 02:06 PM
 
148 posts, read 538,813 times
Reputation: 42
Please stop posting....we know the economy is in the dumps and the housing market is as well...but we don't need you giving us this info....
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Old 10-01-2008, 02:51 PM
 
191 posts, read 688,932 times
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Housing Bubble Caused Bigger Burst Than Expected at Glick Report

Karl Case is a professor of Economics at Wellesley College. He is also one half of the S&P Case-Shiller Index, which measures property values in regional areas throughout the country. When he speaks, people listen.
Karl Case recently scrapped his latest forecast for a housing recovery in early 2009 because of the uncertainty surrounding the credit markets. One in ten mortgage loans are in default or delinquency. Home prices have fallen for eight consecutive quarters, according to the S&P Case-Shiller Index. Treasury Secretary Paulson noted in his testimony this week that housing created this mess and housing has to get us out of it. Look at some of the comments Case made to me.
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Old 10-01-2008, 02:54 PM
 
Location: Marshall-Shadeland, Pittsburgh, PA
32,620 posts, read 77,624,272 times
Reputation: 19102
What's this? Does the Lehigh Valley forum finally have its own official "Debbie Downer?" Awesome! I thought the NEPA forum cornered the market on that one! LOL!

Last edited by SteelCityRising; 10-01-2008 at 02:54 PM.. Reason: Typo
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Old 10-04-2008, 02:46 PM
 
392 posts, read 1,375,322 times
Reputation: 83
Doesnt this belong in one of the general forums since it doesnt specifically deal with the lehigh valley?
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Old 10-04-2008, 08:12 PM
 
191 posts, read 688,932 times
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Default Lehigh Valley

Quote:
Originally Posted by Stavs View Post
Doesnt this belong in one of the general forums since it doesnt specifically deal with the lehigh valley?
The average Lehigh Valley home has dropped more than the national decline.

Average lehigh county home value in 2000 was around $100,00

Average in 2005/2006 was around $250,000

Average valye in 2008 in right around $200,000

That means prices have home values in the lehigh valley have dropped about 20%. All of these figures were posted in the morning call during the housing bubble. You can find them very easily by checking the archives section of the morning call website. www.mcall.com

Now this has something to do with the Lehigh Valley.

Stav's what year did you purchase your Lehigh Valley home?
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Old 10-04-2008, 08:15 PM
 
392 posts, read 1,375,322 times
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I bought in 2001 for $97k, surprisingly right around the average.

Now I am selling it at $195k, which is right around the average.

I hate being average
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Old 10-05-2008, 03:17 AM
 
611 posts, read 1,991,634 times
Reputation: 234
Quote:
Originally Posted by EmmausRocks View Post
The average Lehigh Valley home has dropped more than the national decline.

Average lehigh county home value in 2000 was around $100,00

Average in 2005/2006 was around $250,000

Average valye in 2008 in right around $200,000

That means prices have home values in the lehigh valley have dropped about 20%. All of these figures were posted in the morning call during the housing bubble. You can find them very easily by checking the archives section of the morning call website. www.mcall.com

Now this has something to do with the Lehigh Valley.

Stav's what year did you purchase your Lehigh Valley home?

You're way off. There is no way prices rose 150% from '00-'06. Maybe 70%. Which makes even your drop way off because houses never even apreciated 100%.
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Old 10-05-2008, 04:26 AM
 
191 posts, read 688,932 times
Reputation: 44
Quote:
Originally Posted by markas214 View Post
You're way off. There is no way prices rose 150% from '00-'06. Maybe 70%. Which makes even your drop way off because houses never even apreciated 100%.
If you doubt those figures, check for youself. They are 100% factual. Sorry to "burst your bubble", LOL!@!!@!@!@!@!@!
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Old 10-05-2008, 04:29 AM
 
191 posts, read 688,932 times
Reputation: 44


Home foreclosures soar in the Lehigh Valley -- themorningcall.com

Home foreclosures soar in the Lehigh Valley

By Riley Yates and Kevin Amerman | Of The Morning Call October 5, 2008 In Lehigh County, foreclosure filings this year have already exceeded those of 2007. In Northampton County, they're on track to dwarf last year's mammoth number.
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