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Okay - I have a silly question... what exactly is a troll (in internet terms)? I always thought it was someone who skimmed pages for knowledge (like trolling for shrimp, etc. on the coast) but, I now think it's something negative. Could someone please clarify?
FYI - Home values are up in my area also - over last year. My agent seems to be doing a fairly healthy business in closings. A lot of those are starter homes being sold which should (hopefully) lead to larger homes being sold. I'm always looking for the positive!
A forum troll is someone who deliberately makes statements or engages in "flame wars" for the sole purpose of antagonizing others. A troll is not interested in engaging in discussion, just pushing buttons and riling things up.
(idiomatic) To discern an overall pattern from a mass of detail; to see the bigger picture, or the broader, more general situation. Generally used in the negative. Smith is good at detail, but can't see the forest for the trees.
We are in a recession.period. Although some may be in denial it is understandable. To each his own. coping techniques and rationalization is a way for people to maintain their sanity or protect themselves from having a breakdown. No offense if anyone is taking it as a personal attack when one states that home prices are in fact plunging. No offense to anyone when heaven forbid some people may write about it or even start a thread in a forums REAL ESTATE section discussing one of the hottest financial current event in our nation that is affecting millions of people.
And some people want to shame others for being relieved that home prices may actually be approaching reasonable levels.
It is unreasonable to tell someone that not only are you glad that homes are plummeting but you revel in unemployment, homelessness, and welfare.
Totally untrue. It is the people waiting for the housing market to correct itself that we can start fixing this mess and paying the taxes to bail others out. For close to the past decade many people have acted irresponsibly and selfishly. Refinancing equity they thought they had, buying homes they could not afford, charging credit they couldn't pay back while other more fiscally responsible types shook their heads ,sat back, and put money in the bank. so far I have seen $600,000 homes in 2006 depreciate and sell for $400,000 and so on. $200,000 drops and still going all around the country. It is no joke, it is real and the credit crash is going to break right on top of that. Today GM laid off another 1,600 jobs, the DOW dropped 289.60, Obama shook hands with Hugo Chavez.
I have researched and witnessed first hand as many of you have as to what is happening and continuing to happen with no end in sight and if we do get to the bottom it wont leave anytime soon. On the flip side I haven't seen concrete data from anyone in denial. none.
Honestly.. I am biased. I am glad the market is crashing. It shouldn't have been there in the first place, that is why it is a bubble. Why should anyone be glad to buy a $500,000 handy man special that was $200,000 a few years before that. Never should have happened in the first place but thats what happens when you loosen lending standards so that anyone can buy a home even if they couldn't afford it.
Okay - I have a silly question... what exactly is a troll (in internet terms)? I always thought it was someone who skimmed pages for knowledge (like trolling for shrimp, etc. on the coast) but, I now think it's something negative. Could someone please clarify?
Yes, it is like "trolling for shrimp", except internet "trolls" are "trolling" for responses.
So a troll is a poster who deliberately writes inflammatory posts with the hope of starting a flame war.
Honestly.. I am biased. I am glad the market is crashing. It shouldn't have been there in the first place, that is why it is a bubble. Why should anyone be glad to buy a $500,000 handy man special that was $200,000 a few years before that. Never should have happened in the first place but thats what happens when you loosen lending standards so that anyone can buy a home even if they couldn't afford it.
Long Island is outrageously expensive -- according to the HOI index, it's the 4th least affordable out of 222 metro areas.
Long Island is outrageously expensive -- according to the HOI index, it's the 4th least affordable out of 222 metro areas.
your not kidding. Prices are outrageous and taxes typically run between 10 and 15,000 per year. 9,000 is considered cheap. I believe we are the highest taxed in the country. Blue states for the win eh?
Inflation adjusted houisng prices were flatter than a pancake for over 100 years then became detached from reality only because high finance considered anyone with a pulse. Thats all different now. Further, ANY increase in housing prices will require rising wages. Considering wages have been flat and/or falling since 2000, grossly inflated housing won't occur again within our lifetime. Besides, it's a long way to the bottom..... a long way. And any suggestion that price are going up (laughable on it's face and absurd once the data is reviewed) is clearly delusional.
I thnik we are close to teh bottom as far as individau buyers 'it wil be the investors getting those bundles of assets at near 40% that will be next. banks also seem to be trying to get in under the gate by refi and dealing withowhners before that happens. Alot of owners are holding on to see what happens also. When the inventory goes prices wioll satbilse and like to rise some. Its not always the income that matters but there is alot of money still on the sidelines with investors.It wil;l gbe the investor groups soon who will be snpping up bundles of homes and loans.
I thnik we are close to teh bottom as far as individau buyers 'it wil be the investors getting those bundles of assets at near 40% that will be next. banks also seem to be trying to get in under the gate by refi and dealing withowhners before that happens. Alot of owners are holding on to see what happens also. When the inventory goes prices wioll satbilse and like to rise some. Its not always the income that matters but there is alot of money still on the sidelines with investors.It wil;l gbe the investor groups soon who will be snpping up bundles of homes and loans.
Unless you're on the way out, they will, due to inflation alone, which the US has had every year except this since 1955 (making this year the anomaly, as prices reset).
I suspect that most of us are going to see several more bubbles and bursts in our lifetimes, which will even out to that 2-4% annual inflation we've averaged for 50 years.
Of course, the hope is that by the time the 2005 housing prices return, everything else (incomes AND cost of living) will have increased too and housing, even at those numbers, will remain affordable.
Help me out here..
with inflation, this means that the price of foreign goods go up, right? For housing prices to inflate along with foreign goods, we would need wages to rise, right? is that what you are saying?
The problem with people like the OP is that he/she lumps the entire country into the same declining basket. Not ALL areas of the country are declining. How many times does this have to be said to the doomsayers? I got FULL ASKING PRICE for my home which was priced at 5% ABOVE comps. Why? LOCATION!!!!!! Nuff said. HAve a nice day.
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