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View Poll Results: Are we at or near the bottom?
Yes, at or near bottom 14 35.00%
Not sure 2 5.00%
No, we will sink more than 10% more 24 60.00%
Voters: 40. You may not vote on this poll

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Old 05-28-2009, 03:52 PM
 
Location: Canco, JC, NJ
229 posts, read 923,460 times
Reputation: 90

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Everyone is quoting all sorts of info on how awful the economy, housing, etc are. I am not one of those people. Are we damaged? Yes. Are we destroyed? No. Are we at or near the bottom? I say Yes.

Let's take a poll.
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Old 05-28-2009, 03:56 PM
 
268 posts, read 761,585 times
Reputation: 72
I don't think we are near the bottom of the housing decline or the recession. Only recently has the media been talking this non-sense. Such an extreme decline is not going to reverse in a few months time.
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Old 05-28-2009, 04:02 PM
 
744 posts, read 1,406,280 times
Reputation: 182
Quote:
Originally Posted by millsan1 View Post
Everyone is quoting all sorts of info on how awful the economy, housing, etc are. I am not one of those people. Are we damaged? Yes. Are we destroyed? No. Are we at or near the bottom? I say Yes.

Let's take a poll.
Bottom of what? House prices? GDP? stock market?

I'm currently (I change my mind on the details a fair bit) in the "Obama/Bernanke have pulled us out of the recession via borrowing/printing huge amounts of money but that's just delayed things a bit, at some point in the next 3 years the US dollar collapses and things get nasty" camp. Oh and house prices have a way to go down yet, but the inflation from all that borrowing/printing will stop them going as low as history indicates they should.
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Old 05-28-2009, 04:06 PM
 
Location: Canco, JC, NJ
229 posts, read 923,460 times
Reputation: 90
Housing prices and recession.
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Old 05-28-2009, 04:19 PM
 
3,269 posts, read 9,934,811 times
Reputation: 2025
Bottom of what? My tub of ice cream?
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Old 05-28-2009, 04:20 PM
 
Location: Canco, JC, NJ
229 posts, read 923,460 times
Reputation: 90
Quote:
Originally Posted by millsan1 View Post
Housing prices and recession.
one entry above your post
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Old 05-28-2009, 05:07 PM
 
256 posts, read 841,856 times
Reputation: 136
I think the economy is starting to stabilize. its still bad out there, but i think its reached its worse point.

As for housing, i think it has a long way to go down still in this area. probably 20% more
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Old 05-28-2009, 05:20 PM
 
Location: New Jersey
4,180 posts, read 5,061,593 times
Reputation: 4233
the bottom in housing was reached in November 2008.

why is it taking banks so long to process loans/mortgages ? because of the increase in activity.

plenty of threads on here show (anecdotal) evidence of listings selling in 10 days or less.

the economy -- the worst is over.
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Old 05-28-2009, 05:25 PM
 
835 posts, read 1,180,256 times
Reputation: 186
Quote:
Originally Posted by JG183 View Post
the bottom in housing was reached in November 2008.

why is it taking banks so long to process loans/mortgages ? because of the increase in activity.

plenty of threads on here show (anecdotal) evidence of listings selling in 10 days or less.

the economy -- the worst is over.
Housing is leveling off where if you currently rent, its better to buy a condo. If you are looking to upgrade by selling your house for a bigger one... good luck

The job market? good luck, the economoy? good luck, the state budget? good luck

Buying a condo? Go for it.

Condos are 150-200k, if it depreciates 10% a year you come out even after all the tax breaks compared to renting. Plus you will eventually own the place while renting is money out the window.
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Old 05-28-2009, 07:51 PM
 
Location: Montgomery County, PA
2,771 posts, read 6,275,311 times
Reputation: 606
house prices will drop another 15-25% in NY metro.

The housing market will bottom mid-late 2010.

The economy will start growing again before the housing market recovers. The housing market tends to lag.
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