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historical charts also show that, sooner or later, every downturn is followed by an upswing.
if they're priced right, houses are still selling.
priced right meaning pricing circa 2001. don't touch a house that's at least priced around the years 2003 or less, or you'll loss equity almost immediately this year
historical charts also show that, sooner or later, every downturn is followed by an upswing.
This is not true. Prices might increase 10 years later as in the 1990 recession, or 30 years later as in 1910. If you buy a house with an inflated price, unless there is a bubble, chances are you will loose your money even if prices increase for two reasons:
-being underwater for too long
-inflation
One should not expect a house appreciation more than inflation and this is only if one buys with a fair price. If one buys with an inflated price one should expect to loose money no matter what the time period is. Please don't mislead people.
Quote:
Originally Posted by JG183
if they're priced right, houses are still selling.
If they are priced half off peak yes. But they are not and that's why they are not selling.
I'll present my facts / graphs / interpretations,
you present your facts / graphs / interpretations,
then everyone can make up their own minds...
Can you present a single graph that shows house prices are anywhere near sustainable levels based on historic relationships to income, rent, and prevailing economic conditions? A single one. Please.
I'll present my facts / graphs / interpretations,
you present your facts / graphs / interpretations,
then everyone can make up their own minds...
What are the graphs you presented? Not a single one!
Anyone with a simple understanding of economics can tell you that historically one should not expect a return of more than inflation adjustment on a house. So if one buys with an inflated price should expect loosing in the long run. If one claims otherwise without presenting the relevant graphs and arguing on them then one is misleading.
priced right meaning pricing circa 2001. don't touch a house that's at least priced around the years 2003 or less, or you'll loss equity almost immediately this year
We purchase our updated Cape Cod house in 2001 for $270,000, in Saddle Brook. Even with prices going lower, I don't beleive it would sell for that now, I still think it would sell for more then that. We sold at the just before the bubble burst, and we made a very good profit.
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