So.... housing to drop further?
- Thread starter stmadeveloper
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Totally dependant on the market you're referring to. But overall, in markets that have already heavily fallen, I believe there will continue to be a slow correction over the next year or two.
Won't be a big drop since prices in most markets aren't hyper-inflated like they were in 2007/2008, but a casual decline.
A single family home is a risky investment at the best of times. Why millions of Americans invest their life savings into them results from a failure of understanding true housing prices and how to leverage their money.
Won't be a big drop since prices in most markets aren't hyper-inflated like they were in 2007/2008, but a casual decline.
A single family home is a risky investment at the best of times. Why millions of Americans invest their life savings into them results from a failure of understanding true housing prices and how to leverage their money.
well excuse me gringos but those look FUCKING nice for trailer homes! Have you seen the inside? They are nicer than many apartments I've seen!
I will try to keep this short, so forgive me if I leave something out.
As for #2:
Ezekiel 38:1-6 The word of the Lord came to me; Son of man, set your face against Gog, of the land of Magog, the chief prince of Meshech and Tubal; prophesy against him and say: 'This is what the Sovereign Lord says: I am against you, O Gog, chief prince of Meshech and Tubal. I will turn you around, put hooks in your jaws and bring you out with your whole army - your horsemen fully armed, and a great horde with large and small shields, all of them brandishing their swords. Persia, Cush and Put will be with them, all with shields and helmets, also Gomer with all its troops, and Beth Togarmah from the far north with all its troops - the many nations with you.'
I underlined the Nations for you. There are several theories as to who these nations are, but all theories agree that these are Russian and Arab countries. Here is the brief summary:
Magog according to historians is the area of former soviet rebublics. All those "stans" like Kazakhstan. They are all hardcore islamic nations.
Meshech and Tubal - Turkey and parts of Russia and parts of Iran (Northern).
Gomer & Beth-Togarmah - Again parts of Turkey and Southern Russia.
Persia - Self explanatory! Persia is Iran
Cush - When this was written is the area of Sudan
Put - when this was written is Lybia
Then there is "and many people with you" which we can only speculate about. Something I will not do, since you are looking for FACT only.
Later on in Chapter 38 and 39 these countries invade Israel. If I am not mistaken Syria is described as becoming an ash heap. Looks like it will be a pretty bad war with nuclear weapons involved.
As for #1
"Zech12:3 And in that day will I make Jerusalem a burdensome stone for all people: all that burden themselves with it shall be cut in pieces, thoughall the people of the earth be gathered together against it"
Hope that helps!
I can see them coming down a bit from where they're at , but not much more than 30% from current prices. High gas prices DID cause the last crash , but most of the people who are in houses now have better mortgages.
ALL arms that have reset in the past 1-2 years have reset at very low interest rates. My parent's ARM 5/1 dropped 2% from when they got it in 2005. It is now set to drop another half percent when it adjusts.
Writtenstyle : Depending on how you look at it , Gog & Magog could signify Russia OR Turkey, I think turkey is much more likely to attack Israel. The USA is talked about in the book of Isaiah , but I'll let you figure that one out.
As for Florida , you CAN get properties cheap, a girl in my office owns quite a few she bought at around $25k, they're all 2 bed 2 bath condos close to the beach in Daytona. You can do it , but as she told me the biggest problem is getting good workers to repair em. If a property sits vacant in FL too long it gets full of mold, which then means you've gotta re-drywall the place and there's a 3 month backlog on quality drywall crews.
Mobile homes are a different world , in the past 2 years the FHA has made them worthless. FHA was one of the only places you could easily get a loan for a MH through , they went from $500 down to 3.5% down, now it's around 30% down and no one wants em. In my area of Ohio I can get a 3br 2ba mobile home in a nice area on 5 acres of land for around $60k.
ALL arms that have reset in the past 1-2 years have reset at very low interest rates. My parent's ARM 5/1 dropped 2% from when they got it in 2005. It is now set to drop another half percent when it adjusts.
Writtenstyle : Depending on how you look at it , Gog & Magog could signify Russia OR Turkey, I think turkey is much more likely to attack Israel. The USA is talked about in the book of Isaiah , but I'll let you figure that one out.
As for Florida , you CAN get properties cheap, a girl in my office owns quite a few she bought at around $25k, they're all 2 bed 2 bath condos close to the beach in Daytona. You can do it , but as she told me the biggest problem is getting good workers to repair em. If a property sits vacant in FL too long it gets full of mold, which then means you've gotta re-drywall the place and there's a 3 month backlog on quality drywall crews.
Mobile homes are a different world , in the past 2 years the FHA has made them worthless. FHA was one of the only places you could easily get a loan for a MH through , they went from $500 down to 3.5% down, now it's around 30% down and no one wants em. In my area of Ohio I can get a 3br 2ba mobile home in a nice area on 5 acres of land for around $60k.
A local store in my area had a special on the same thing for $1.50 , you need to learn to shop better
Forclosure auctions around here are insane. I bought a house for $22,000 and am hitting an auction next week for a place in an "anchor neighbourhood" around here, 107 years old (ie. real construction, not shit+spit+hope construction) and the auction is $1,000 starting bid w/no reserve. Will probably go in the $35k-$45k range. There's a three-story office building downtown that's been bank listed for $80,000 ... wtf ... love this place.
@random-guy - Hey can you predict my future as well? No?
Seriously, Ive been thinking of investing in housings in UK before but now at this state, im not sure.
Seriously, Ive been thinking of investing in housings in UK before but now at this state, im not sure.
Yep, definitely another housing bust coming. More foreclosures this year than ever before, not to mention all the ARMs loans maturing. Although with the recenty news of the illegal foreclosures hoopla by the big banks and the MERS ruling, it might not be as bad as predicted.
Definitey a great time to invest in real estate as long as you have time to sit on them.
Definitey a great time to invest in real estate as long as you have time to sit on them.
@ayzo:
I live in a pretty small town ... you can look up auctions by driving down the street, or asking any local realtor etc. Don't know how it works in real cities.
Williams Auction has national listings -- discovered them because they're handling that auction I'm hitting next week. They have some good listings nationwide, from what I've seen browsing the site. Be warned though -- so far every single person with whom I've spoken there seems to not know a fucking thing about real estate, about auctions, about foreclosure law, about how to manage customers etc. No idea how they have managed to get all these listings, unless they're run by the cousin of some jackoff who was running subprimes in the 2005-08 period, and is now running a company to auction off all that bad paper.
Frank
I live in a pretty small town ... you can look up auctions by driving down the street, or asking any local realtor etc. Don't know how it works in real cities.
Williams Auction has national listings -- discovered them because they're handling that auction I'm hitting next week. They have some good listings nationwide, from what I've seen browsing the site. Be warned though -- so far every single person with whom I've spoken there seems to not know a fucking thing about real estate, about auctions, about foreclosure law, about how to manage customers etc. No idea how they have managed to get all these listings, unless they're run by the cousin of some jackoff who was running subprimes in the 2005-08 period, and is now running a company to auction off all that bad paper.
Frank