U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-01-2008, 01:32 PM
 
191 posts, read 643,680 times
Reputation: 44

Advertisements


YouTube - Housing Bubble vs. Great Depression

This is a fantastic video that shows the similarity of the current housing/credit crisis and the lies told before, during and right after the great depression.

This will blow you away and should help you realize that prices are and must get back to normal. Normal being prices pre 2000 and most likely similar to 1996 or before.

Once again I must post the chart created by Robert Schiller who co created the S&P home pricing index. Realtors and people in the housing industry are like politicians, they will say anything to get what they want. Politicians want elected and housing people want commisions. A good rule of thumb is "never trust someone who works on commision".

http://graphics8.nytimes.com/images/...aph2.large.gif

Historical data on housing can't be denied. Facts are facts. I've yet to hear anyone be able to debate or argue anything after reviewing the above data. The reason why? It's obvious this was a mega bubble and prices will continue to drop until they are back to historical values, 1996 or before. Of course anyone who purchased during the peak bubble years will try not want to accept that and housing employees will do the same.


Here's an article from businessWeek

Analyzing the housing crisis - BusinessWeek

Rate this post positively Reply With Quote Quick reply to this message

 
Old 10-01-2008, 04:06 PM
 
Location: Lehigh Valley, PA
242 posts, read 775,354 times
Reputation: 45
Quote:
Originally Posted by EmmausRocks View Post
I've yet to hear anyone be able to debate or argue anything after reviewing the above data.
Dude...you are posting national statistics and pawning them off as Lehigh valley grade info.....get something that pretains to this area and I would be glad to discuss.

Otherwise, just post on the national forums.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-01-2008, 04:18 PM
 
191 posts, read 643,680 times
Reputation: 44
Lehigh Valley Housing Market: bottoming out? -- themorningcall.com

You just can't accept that prices have dropped around the lehigh valley and will continue until they are near the mid 90's levels. Foreclosures are up 40% for lehigh & norhampton counties.

Remember people, never trust anyone that works on commision.

Foreclosuredata.com
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-01-2008, 04:23 PM
 
191 posts, read 643,680 times
Reputation: 44
Quote:
Originally Posted by jeffvivian View Post
Dude...you are posting national statistics and pawning them off as Lehigh valley grade info.....get something that pretains to this area and I would be glad to discuss.

Otherwise, just post on the national forums.
I've produced charts, data and yet you still want more. You can't argue the facts. I thought you were blocking me anyway? You can't handle the plain truth that prices have dropped 20-30% here and will continue to "correct", lol, until they are back to mid 90's levels.

This was a bubble and history shows all bubbles crash. This bubble is like nothing we've seen before.
PLEASE DEBATE ME ON THIS CHART BELOW. IT'S EXACTLY THE SCENARIO THAT'S PLAYED OUT IN OUR AREA. EXPLAIN WHY YOU THINK THIS WAN'T A BUBBLE AND PRICES WILL NOT DROP BACK DOWN LIKE THEY HAVE FOR OVER 115 YEARS. THAT'S ACCORDING TO RAW FACTS, NOT REALTOR LIES.
http://graphics8.nytimes.com/images/...aph2.large.gif
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-01-2008, 04:39 PM
 
Location: Marshall-Shadeland, Pittsburgh, PA
31,438 posts, read 70,442,747 times
Reputation: 17144
Methinks I'm glad to be living in an area where the housing prices are still appreciating.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-01-2008, 04:55 PM
 
191 posts, read 643,680 times
Reputation: 44
Default Scranton

Quote:
Originally Posted by ScranBarre View Post
Methinks I'm glad to be living in an area where the housing prices are still appreciating.

I think the Scranton/Wilke-Barre area is great. You can still buy a home in a good town around there for under 75k.

You did see a bubble there but only 1/2 of what happened in the lehigh valley. It will crash too just not as bad.

Scranton, P.A.
12-month forecast: 2.2%
Median home price: $128,000
One year price change: 7.2%
Five year price change: 41.1%
Change in foreclosure rate: 8%
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-01-2008, 05:18 PM
 
Location: Marshall-Shadeland, Pittsburgh, PA
31,438 posts, read 70,442,747 times
Reputation: 17144
We didn't enjoy the "bubble," so we're not being burned now that it has "burst." I can't believe the difference in housing prices a mere hour up and down I-476 can make. You can still find a nice home in Wilkes-Barre for $75,000. That same home would be $100,000 in Scranton (where housing prices have been increasing a bit more rapidly), and $200,000 (Yes, twice as much!) in the Lehigh Valley.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-01-2008, 08:32 PM
 
392 posts, read 1,279,778 times
Reputation: 83
Quote:
Originally Posted by ScranBarre View Post
You can still find a nice home in Wilkes-Barre for $75,000. That same home would be $100,000 in Scranton (where housing prices have been increasing a bit more rapidly), and $200,000 (Yes, twice as much!) in the Lehigh Valley.
Yeah, but the question is is how many of the 200k homes are selling in the valley these days. I put mine up 2 weeks ago and every day I'm a nervous wreck. We've had about 5 showings, with 2 more scheduled, so that helps. I'm hoping that special buyer comes along and loves my house so I can move to Raleigh already.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-02-2008, 01:19 AM
 
191 posts, read 643,680 times
Reputation: 44
Quote:
Originally Posted by Stavs View Post
Yeah, but the question is is how many of the 200k homes are selling in the valley these days. I put mine up 2 weeks ago and every day I'm a nervous wreck. We've had about 5 showings, with 2 more scheduled, so that helps. I'm hoping that special buyer comes along and loves my house so I can move to Raleigh already.

What's the average homes around the triangle these days?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-02-2008, 05:57 AM
 
392 posts, read 1,279,778 times
Reputation: 83
Quote:
Originally Posted by EmmausRocks View Post
What's the average homes around the triangle these days?
I dont know what the average is, but for $250k I can get a heck of a lot more house there than I can here. $250k gets me brand new 4 bedroom, 3.5 baths, 3 floor, huge bonus room, on a .2 acre lot with most of the bells and whistles.

I'll be honest...i dont know for the life of me how housing appreciated so much in this area. My feeling is its the people from NY moving in and driving up prices because its too cost prohibitive to buy in NY. Regardless,as long as one of them buys my house I'm happy.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top