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Old 02-27-2010, 01:51 PM
 
135 posts, read 335,376 times
Reputation: 26

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It would seem like Nashville is about a year ahead of us. Look at what's going on there and expect the same to happen to our area with a year or two.

The Housing Bubble Blog


It’s Friday desk clearing time for this blogger. “Amid the housing market bust, developers are abandoning unfinished subdivisions, leaving hundreds of homeowners with the mess. The city of Nashville is at the center of some of the thorniest problems, both because it has dozens of stalled subdivisions and because city planners allowed the bank guarantees that would have paid for completion to expire on 27 now-abandoned developments.”
“Bril Peete was promised finished streets around her Cane Ridge home in 2007. Instead, manholes now stick up inches out of the rough pavement. They’re frustrated by never getting updates from Metro. ‘I like where I’m living, I like my neighborhood, it’s very quiet and safe,’ Bril Peete said with a weary sigh. ‘But if it takes years? Well, I guess this is where I’ll be, waiting.’”
“In a region where house prices have been cut in half in two years, a handful of investor-driven developments lost much more. Bermuda Dunes condominiums plummeted from an average sales price of $312,000 a unit in 2008 to $62,925 a year later — an 80 percent drop in one year. The 304-unit Cascades complex in Kissimmee has experienced the biggest price drops in Osceola County, according to the property appraiser there. Sales last year ranged from $140,000 to $185,000 a unit, but so far this year they range from $16,000 to $48,000 each — a drop of more than 70 percent in one year.”
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Old 04-11-2010, 05:57 AM
 
8 posts, read 22,670 times
Reputation: 11
I'd love to be there Country music's home!
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Old 04-11-2010, 07:13 AM
 
12,870 posts, read 29,517,912 times
Reputation: 7438
A drop in housing costs in Nashville sounds great - My daughter may be moving there this fall for grad school!
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