So.... housing to drop further?

S

stmadeveloper

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Aug 30, 2007
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It seems that energy prices played a huge role in housing values dropping - as people couldn't afford to fill their cars up at $4 dollars a gallon, or heat their house, etc... more and more foreclosed. It seems gas is going up again $3.40 a gallon here today.... all the crap fell apart at $4.00.

At the same time inflation is starting to kick in a bit (at least for food) - don't care what any reports say I have a family of 6 and I guarantee that we are paying more for food :)

Does that mean housing prices will continue to drop? Big fast drop where the market bottoms out further again? Slow gradual decline with more mortgage bailouts?

I'd like to think I'm smart enough to "see" where this is going, but I don't. Hell don't think anyone does.
 


Dude, I went to the gas station today, it was like "whoa"! Not certain as to housing, but gas prices are ridonculous.
 
Double dip recession is on its way. Things will probably get pretty bad in the coming months. I think there was a paper released by the pentagon today, that explains economic terrorism and the possibility of chaos in the streets.
 
My feeling is that shit will only get worse. We're headed towards another collapse, and this time there will be no bailout. Total collapse of the American empire.
 
onlinemoniez said:
My feeling is that shit will only get worse. We're headed towards another collapse, and this time there will be no bailout. Total collapse of the American empire.
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I hope they drop further. I believe people were still getting 5 year ARMs on houses they could not afford in 2005 which means many more foreclosures should still be coming. Average housing prices are nowhere near in line with average wages. Most sellers in my area are still asking well over pre-bubble values. Foreclosures owned by Fannie Mae are some of the few home that I have seen lately priced at around their pre-bubble prices.

I don't think a housing price correction should be called a "housing crisis".
 
-joe- said:
$3.40 a gallon? o_O Wow.... over here in the UK, it's around $10 :(
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...and in the UK you have shorter commutes as well as cars that get better mileage (turbo diesels). there's no comparison. i've seen statements that the "average" fuel economy for the UK is between 29 and 40 miles per gallon. you've got us well beat with cars like the citroen and renaults getting 70 mpg.
 
i saw something on CNN yesterday, it was an older article, but it talked about how a second round of foreclosures is on the way ....
 
avatar33 said:
I was actually going to open a thread about this. I was looking at homes for sale in Florida out of curiosity, and frankly I couldn't believe what I saw. Check these listings out for example: http://paradisevillagehomes.com/listings.html

Does this make sense to you? Can you really get nice houses like that in FL for 20-30k?
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Those are all mobile homes - but there are some great deals in FL for around 60k to 200k depending on where and what. My wives family is there and it's one of the places we are considering. Her sister just bought a fixer upper for 60k. It would have been 199 or so a couple years ago.
 
avatar33 said:
I was actually going to open a thread about this. I was looking at homes for sale in Florida out of curiosity, and frankly I couldn't believe what I saw. Check these listings out for example: http://paradisevillagehomes.com/listings.html

Does this make sense to you? Can you really get nice houses like that in FL for 20-30k?
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those houses look like tricked out trailers...they may be in a poor part of town as well
 
Yep, in Florida the houses are silly cheap. I bought my first house here in Orlando 12 years ago and sold it after two years. It changed hands several times since and almost doubled in value at the top of the market in 2007. Same house is now back down same price I sold it for 10 years ago. Great time to buy. And the weather is great; today was gorgeous, 72 degrees and blue skies.
 
It's interesting if you study bible prophecy, three things stick out:

1. Israel will be the center of all the Nation's policies. That, and they will be a thorn to the World (either due to it's hatred or defense).

2. Iran and Russia will form an alliance with the other Arab nations and attack Israel. It is interesting that Russia is upplying technology and fuel to Iran for their nuclear program. Egypt fell, then days later, they allowed Iran to send Warships up the Suez canal for the first time. We are probably witnessing the beginning of Shariah law across all Muslim countries.

3. America is nowhere in prophecy. Question is, "Why not?" How could the most powerful nation in the world not be mentioned in prophecy? Maybe it is because America is not a powerful nation during the times prophecied. So, at some point America has to fall.

Whether you believe in prophecy or not, it is still interesting. I mean, the decrepid Vagina predicted a major war to start last Nov. It didnt happen. But, so far all the things prophesied in the bible are either happening, or at least feasible right now.
 
Fix1111 said:
Yep, in Florida the houses are silly cheap. I bought my first house here in Orlando 12 years ago and sold it after two years. It changed hands several times since and almost doubled in value at the top of the market in 2007. Same house is now back down same price I sold it for 10 years ago. Great time to buy. And the weather is great; today was gorgeous, 72 degrees and blue skies.
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I rented a 2br/2ba condo in a nice part of Jacksonville, FL about 3-4 years ago for $1000/month.

It was in a gated community built in 2004 with a nice clubhouse, pool, poolside grilling area, indoor basketball court, workout room, car wash area, etc.

2br/2ba's there are now selling for $30k-$40k.
 
I'm not a prophecy nut - but if we did collapse just a bit more some other countries WOULD start to do whatever they want. We sort of hold the world together like it or not.
 
Fix1111 said:
Yep, in Florida the houses are silly cheap. I bought my first house here in Orlando 12 years ago and sold it after two years. It changed hands several times since and almost doubled in value at the top of the market in 2007. Same house is now back down same price I sold it for 10 years ago. Great time to buy. And the weather is great; today was gorgeous, 72 degrees and blue skies.
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Couldn't agree more about FL man, just had my offer on a short sale accepted over here in Sarasota. 45% less than it sold for in 2009.

Edit: To the OP, I'm hoping you're wrong. Shit isn't give me the warm and fuzzies about my first purchase but I guess it's all about the state of the market when I eventually sell.
 
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