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Old 04-15-2010, 11:02 PM
 
2,930 posts, read 6,610,555 times
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Quote:
Originally Posted by newonecoming View Post
Japan is still working on their bubble 20 years later.
Yeah but those were different times, and this is the USA. I don't think it's gonna take that long. Banks are being very smart believe it or not with foreclosures. Down here in Miami (Foreclosure Land) homes don't stay in the market very long, usually less than a week. It's extremely difficult to buy a home down here as most of them are already "under a contract"
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Old 04-15-2010, 11:08 PM
 
1,842 posts, read 1,611,367 times
Reputation: 169
Quote:
Originally Posted by ♥♥PRINC3Ss♥♥ View Post
Yeah but those were different times, and this is the USA. I don't think it's gonna take that long. Banks are being very smart believe it or not with foreclosures. Down here in Miami (Foreclosure Land) homes don't stay in the market very long, usually less than a week, believe it or not. It's extremely difficult to buy a home down here as most of them are already "under a contract"
We are doing the same things that they did. We need to let the prices fall and to do it fast Obama is trying to prop them up. Japan has been at it for 20 years doesn't work. http://boombustblog.com/201003221353/BoomBustBlog-Demonstrated-Today-s-News-Last-Month-by-Using-Facts-the-Housing-Market-is-Headed-Sharp.html (broken link) Good reading.
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Old 04-16-2010, 12:05 AM
 
Location: Southern California
15,084 posts, read 19,088,657 times
Reputation: 10324
Quote:
Originally Posted by las vegas drunk View Post
Hey, I do not like Obama either, but blaming him for this is not right. I have known people who bought in the bubble who have now lost their homes. None of them lost their jobs, their payments doubled when the ARM reset so they lost the house. How is that Obama's fault? To me, it was irresponsibility of the home buyer's fault.
Agreed.
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Old 04-16-2010, 06:36 AM
 
1,598 posts, read 2,796,175 times
Reputation: 700
Quote:
Originally Posted by ♥♥PRINC3Ss♥♥ View Post
Yeah but those were different times, and this is the USA. I don't think it's gonna take that long. Banks are being very smart believe it or not with foreclosures. Down here in Miami (Foreclosure Land) homes don't stay in the market very long, usually less than a week. It's extremely difficult to buy a home down here as most of them are already "under a contract"
I'm glad to hear the inventory is moving down there. Houses sitting vacant, with weeds a mile high, only brings every one's property values down even further. I do find it surprising, though. I live in St. Augustine, a highly desirable part of Florida, and we have a plethora of beautiful, newer houses that have been sitting empty for over 2 years. In my neighborhood, about 25% re in some stage of foreclosure with more to come. There hasn't been one sale that I know of. Only short sales or foreclosure sales. There's no way to sell a property that's lost 50% of it's value. That includes THOUSANDS of properties in this area alone.

Blaming the banks, irresponsible homeowners, Obama, Bush, is futile at this point. We need to get past the blaming and realize that in areas, such as Florida, or at least large swaths of Florida, everyone is in the same crappy boat. Our schools are going down because of the lack of revenue from property taxes that they require to function, commercial developments have been abandoned partially completed, crime is up, and social service programs (that the republicans are so eager to cut right now) are overwhelmed with the issues facing displaced families.

Discussing who is to blame is useless. We need to be concentrating on how to handle the major problems that have resulted from the housing collapse because that's where we are today.
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Old 04-16-2010, 06:48 AM
 
Location: Tampa Florida
22,232 posts, read 16,690,495 times
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Signs of life in the Florida housing market.

Builders returning to the devastated Florida housing market - Apr. 16, 2010
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Old 04-16-2010, 07:25 AM
 
1,598 posts, read 2,796,175 times
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Quote:
Originally Posted by florida.bob View Post
Well, that's just flipping fantastic, isn't it? As if we need more houses built in Florida right now. I see nothing positive about this at all. Just more unregulated sprawl that largely contributed to the huge mess we're in now.

This is why I feel that government needs to play a larger role at all levels, not a smaller role at this point. The idea that proper oversight and regulations is socialism is just stupid. Sorry if I offend, but I'm sick of hearing about socialism. Not enough regulation on the state level is going to be the downfall of Florida's economy. This has got to stop!
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Old 04-16-2010, 01:32 PM
 
1,842 posts, read 1,611,367 times
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Quote:
Originally Posted by songgirl View Post
Well, that's just flipping fantastic, isn't it? As if we need more houses built in Florida right now. I see nothing positive about this at all. Just more unregulated sprawl that largely contributed to the huge mess we're in now.

This is why I feel that government needs to play a larger role at all levels, not a smaller role at this point. The idea that proper oversight and regulations is socialism is just stupid. Sorry if I offend, but I'm sick of hearing about socialism. Not enough regulation on the state level is going to be the downfall of Florida's economy. This has got to stop!
It was the easy credit that was to blame.
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