[esanamaserrn]

...

How about answering if you even own a home???

[LarryRda]

Yes,

I own my own home.

Spand,

I assume that somewhere along the way you wwere schooled on the falsity of economic data vs your so-called 'real world.'

I suggest you read 'The Silent Depression' by Wallace Peterson to see what I mean.

Actually we had very few Communists when I went to school, so most of the ridiculous, anti-American bullshit you expound did not get taught.

I suggest you read Dr. Suess. It's much more in keeping with YOUR world.

[ScosyGissiok]

Oh for god's sake.

How can you expect to be taken seriously by anyone who has any knowledge if you don't even know the basics??

Wallace Peterson is a conservative Prof of Economics at the U of Nerbraska.

He's also American.

[FelicitaJ]

Yes,

I own my own home.

Spand,

I assume that somewhere along the way you wwere schooled on the falsity of economic data vs your so-called 'real world.'

I suggest you read 'The Silent Depression' by Wallace Peterson to see what I mean.

How much has the value gone down? Or has yours gone up but everyone else's gone down?

[Kingerix]

Oh for god's sake.

How can you expect to be taken seriously by anyone who has any knowledge if you don't even know the basics??

Dr. Suess is a well-known writer of kiddie books. Just read slowly and you'll get it.

He's also American.

[BipiewExifese]

Right now, as in most of the country, real estate values around here are static as homes sit on the market for long periods.

But the future doesn't look good.

Take it from a guy who does title searches for a 2nd job and is planning to sell in the next 1-2 years.

[theatadug]

Right now, as in most of the country, real estate values around here are static as homes sit on the market for long periods.

But the future doesn't look good.

Take it from a guy who does title searches for a 2nd job and is planning to sell in the next 1-2 years.

So you just indicated there is no bubble. You are stable. You are counting on the sky to fall. It's called being a pessimist. It's also called a recto-cranial inversion. Look THAT up in your Funk & Wagnalls.

[BoboStin]

I'll use my sources and you use yours...............................

[reiruviartugs]

I indicated no such thing.

I indicated a bubble which has popped.

[WaysletlyLene]

You go play with your bubbles. I have intelligent, rational people to debate.

[Clolmemaexata]

Like 'The Cat In The Hat'?

Can't wait for the Brit version of it on 'Masterpiece Theater'.

[mr.calisto]

Like 'The Cat In The Hat'? ...

"Green Eggs and Ham". They'll let you read it next year.

[SueveDobe]

How about 'Stale Donuts And Cops'?

Another classic.

[Shiplyopidomi]

How about 'Stale Donuts And Cops'?

Another classic.

YOU ought to know, Barney. Give it up. You already look more childish than is reasonable. I'll let you get the last post, just to satisfy your inadequate ego.

[zlZ95pjt]

Just giving you back a little of what you throw at me.

But you are correct: any reasonable hope of serious discussion with you is problematical, at best.

And somebody somewhere is paying for this.

So, happy trails.......................

[VioletttaJosetta]

Stable or mildly stagnant prices are not a problem to people who don't have excess amount of debt through mortage/refinancing. However, there are lots of these people and for them this is going to be ugly. Housebuilders will suffer as well. Many of these people banked on those juicy 20% value increases and are now getting far less if anything. Their loans will eat them alive, especially now that feds are raising interest rates.

[finasteridonline]

Stable or mildly stagnant prices are not a problem to people who don't have excess amount of debt through mortage/refinancing. However, there are lots of these people and for them this is going to be ugly. Housebuilders will suffer as well. Many of these people banked on those juicy 20% value increases and are now getting far less if anything. Their loans will eat them alive, especially now that feds are raising interest rates.

Exactly.

You CANNOT expect to get rich by having the housing market continue to go up at an unhealthy rate.

We need to get back to a basic principle of housing: Buy a house you can afford, and get it paid off.

10 years ago, I bought an acreage that needed work. Bought it cheap. Put it on a 15 year mortgage. Did a LOT or work - all of which we did ourselves - and did it while living there. THAT is the way to turn a profit on housing, even in a somewhat stagnant market!

[illetrygrargo]

If you have come to depend on housing increases much more than inflation plus interest, you are seriously deluding yourself. Look at the income to cost ratio on the East and West coasts. Reasonable behavior dictates to not buy more than a cardboard box. A $750K bungalow on a working couple's salary is a guaranteed loss. Even at $150K income, it's insane.

[OShellszz]

Again, it appears the housing bubble has finally started to deflate. Now the questions are how much will it decline and how fast.

Totally depends on what part of the country you live in. Housing markets are very localized. Greenspan had said last summer that there are some local markets where home prices seem to have risen to unsustainable levels. In those areas, I would say that a once red hot market is cooling and returning to a more normal level. The people most likely to lose money in a cooling market are the ones who buy and intend to sell before any equity is built up. The majority of people won't lose any money; they just won't make as much profit has they had hoped. It's got to be a buyer's market sometime. It will cycle back around.

BTW, in my area it is raining 7,000 sq. ft. houses. My husband works for a firm that designs award winning multi-million dollar houses and they have so much work right now. This is typically the busy season because everyone wants their blue prints out so they can start building in the spring. Rest assured that there is at least one housing market that is going strong.

[oliverlogo]

FYI,

According to 'The Wall Street Journal', 43% of those buying houses the past few years have put down 2% or less!

With interest rates heading up, and housing prices going the opposite way, there is a real chance that many newer owners will owe more on their houses than they are worth.

And you know there is a peoblem when even that rag starts voicing concerns......................

I think there is an even better chance that was the situation when they signed the papers to buy the house. Some markets have been over-priced and in those red hot markets people agreed to pay more then it's worth (it was worth it to them at the time).