You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #59: You are technically right, [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
edhopper Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Aug-28-07 04:40 PM
Response to Reply #57
59. You are technically right,
but at the same time confirming what I said.
When people talk of housing prices in areas, they usually mean a metropolitan area like L.A. or Phoenix. In these larger areas the prices are down. But the selling of a few very high-end houses within would push the median price up, while most prices are falling.
I was not referring to small districts when I said all areas are in decline because the Case-Shiller report, which this thread is based on, only deals with the larger areas.
Printer Friendly | Permalink |  | Top
  -Housing Prices: Steepest Drop in 20 Years Purveyor  Aug-28-07 08:47 AM   #0 
  - Somebody should start a rock band called "Soft Landing"  1932   Aug-28-07 08:48 AM   #1 
  - If this keeps up we might just be able to afford a house after years of being  YOY   Aug-28-07 08:52 AM   #2 
  - agreed. 20% isn't enough of a drop, imho.  soothsayer   Aug-28-07 09:11 AM   #3 
  - It will continue to drop until prices stabilize to reality  YOY   Aug-28-07 09:17 AM   #4 
  - By the time those priced out can get in  catmandu57   Aug-28-07 10:48 AM   #14 
  - I don't know...we're pretty fiscally responsible  YOY   Aug-28-07 10:50 AM   #15 
  - That time may be coming. the problem is that lenders count on home prices to increase.  blondeatlast   Aug-28-07 12:43 PM   #23 
  - Unless you don't need credit  MarkInLA   Aug-28-07 05:18 PM   #61 
  - Correction needed.  kenfrequed   Aug-28-07 02:14 PM   #51 
  - The ones who are going to walk..  NeoConsSuck   Aug-28-07 05:43 PM   #63 
     - It will cost them their credit  TexasBushwhacker   Aug-29-07 01:11 PM   #77 
  - My house hunt last year turned up small fixer-uppers at $425K-450K so I didn't buy  wordpix   Aug-29-07 12:02 PM   #74 
     - The lowest 2 BR 2 Bath we could find in the DC area (Arlington, VA actually)  YOY   Aug-29-07 04:28 PM   #79 
  - Depends on where you live, but I think you are right-it will go down another @0% easily  beberocks   Aug-28-07 09:19 AM   #6 
     - Methinks this was some machination by economic forces beyond the average man's  YOY   Aug-28-07 09:24 AM   #7 
     - IMO the housing bubble is inflation by an oversupply of worthless paper as housing is the hardest of  ooglymoogly   Aug-28-07 03:02 PM   #55 
     - I'd like to know what the numbers were for the S.F. Bay Area  Winebrat   Aug-28-07 12:22 PM   #17 
  - I wouldn't feel selfish if I were you. I think affordable housing is damned near a right.  MADem   Aug-28-07 09:54 AM   #10 
  - You are so right.  LisaM   Aug-28-07 12:21 PM   #16 
  - It hasn't hit my area yet  high density   Aug-28-07 06:41 PM   #65 
     - It will fall  YOY   Aug-29-07 04:30 PM   #80 
  - yea but up 20% for 5 years a 20% decline only puts you a third of the way back or something  natrat   Aug-28-07 09:18 AM   #5 
  - House in my neighborhood is listed for 20% less than it sold for in April 2006  FreeStateDemocrat   Aug-28-07 09:35 AM   #8 
  - Even if mine loses 20% in value  demnan   Aug-28-07 09:41 AM   #9 
  - MMM. Are you saying you overpaid?  LisaM   Aug-28-07 12:33 PM   #19 
  - I live near SF and they were doing that to me, HERE  CreekDog   Aug-28-07 12:52 PM   #26 
     - Yep. I live in the East Bay in a very wealthy town.  scorpiogirl   Aug-28-07 01:06 PM   #35 
  - Yep, me too. Mine has dropped in value from $480,000-510,000  Lorien   Aug-29-07 11:25 AM   #73 
  - GEE WHO WAS PRES WHEN THIS HAPPENED LAST..AHH YES  flyarm   Aug-28-07 10:14 AM   #11 
  - They didn't say this happened 20 years ago  spinbaby   Aug-28-07 10:23 AM   #12 
     - True. Biggest NOMINAL drop since Great Depression.  David__77   Aug-28-07 10:46 AM   #13 
     - Also, at least here in LA we had at least a 200% rise in prices over the previous 5 years.  robinlynne   Aug-28-07 12:47 PM   #25 
        - Percentages, percentages...  David__77   Aug-28-07 01:22 PM   #44 
        - okay. I can follow that a 50% drop is equal to a 100% rise. BUt after that, you  robinlynne   Aug-28-07 07:50 PM   #67 
        - Loan terms are going to REALLY tighten up soon! Mark my words!  calipendence   Aug-28-07 02:00 PM   #49 
     - 1987-1988 timeframe  davekriss   Aug-28-07 08:03 PM   #68 
  - The lead should have read...steapest decline since the last idiot was president  ooglymoogly   Aug-28-07 12:32 PM   #18 
  - correction, steepest decline...epenthetic overload.  ooglymoogly   Aug-28-07 02:10 PM   #50 
  - Serious question from naive neophyte: Did the housing bubble burst?  Hissyspit   Aug-28-07 12:37 PM   #20 
  - it had a slow leak starting at beginning of 2005-the leak is now a fast leak-  fed-up   Aug-28-07 12:55 PM   #28 
  - O.K. so I'm going to make the argument that essentially the bubble burst  Hissyspit   Aug-28-07 01:11 PM   #37 
     - Housing is different than stocks  kirby   Aug-28-07 01:20 PM   #42 
        - Yes.  David Zephyr   Aug-28-07 02:43 PM   #54 
           - however, some of this housing bubble can be attributed to people who flipped on speculation  wordpix   Aug-29-07 12:17 PM   #76 
  - there is not sudden burst, but its been slowly leaking for at least a year  LSK   Aug-28-07 01:00 PM   #31 
  - good  Magic Rat   Aug-28-07 12:37 PM   #21 
  - Young people? what about Baby Boomers like me?  LisaM   Aug-28-07 12:59 PM   #30 
  - A year ago there would be no way I could afford the house I just bought  LynneSin   Aug-28-07 12:40 PM   #22 
  - Did you buy it to make a life in, or to make a profit from?  LisaM   Aug-28-07 12:52 PM   #27 
     - flippers are one of the reasons we are where we are  LSK   Aug-28-07 01:02 PM   #33 
     - I have no problem with someone fixing up a house and making a modest profit  LisaM   Aug-28-07 01:06 PM   #34 
     - Definately live in for at least 5-10 years  LynneSin   Aug-28-07 01:19 PM   #40 
        - I just want a nice-sized house with a big front porch  LisaM   Aug-28-07 01:29 PM   #45 
  - My only hope is that the bucket falls out of the bottom here in Texas.  Tight_rope   Aug-28-07 12:43 PM   #24 
  - check out the graph at this link  trekbiker   Aug-28-07 12:58 PM   #29 
  - now that is a scary chart!  superconnected   Aug-28-07 05:55 PM   #64 
  - Good news for me and I think most people that live in their means  superconnected   Aug-28-07 01:00 PM   #32 
  - dont celebrate yet, lets hope this doesnt tank the economy  LSK   Aug-28-07 01:08 PM   #36 
  - The economy was tanked with the inflated lending and interest gauging  superconnected   Aug-28-07 01:14 PM   #38 
  - I have never bought a house and was nervous all through this decade, too  Hissyspit   Aug-28-07 01:16 PM   #39 
  - I was really nervous before I bought my condo in '98---best move I ever made financially  wordpix   Aug-29-07 12:11 PM   #75 
  - in the words of paul simon"one man's cieling is another man's floor"  natrat   Aug-29-07 11:10 AM   #71 
  - Houses need to drop 40% at least....  Bo   Aug-28-07 01:20 PM   #41 
  - Flippers are going to be caught holding the bag n/t  TexasBushwhacker   Aug-28-07 01:22 PM   #43 
  - In other areas, housing prices are going up  sakabatou   Aug-28-07 01:31 PM   #46 
  - No they're not.  edhopper   Aug-28-07 01:35 PM   #48 
     - ... O.o  sakabatou   Aug-28-07 02:41 PM   #53 
     - Actually, they are.  David Zephyr   Aug-28-07 03:13 PM   #57 
        - You are technically right,  edhopper   Aug-28-07 04:40 PM   #59 
        - rich richer por poorer-and mids pay more to live in nice areas and drift in to insolvency  natrat   Aug-29-07 11:15 AM   #72 
  - I firmly believe  edhopper   Aug-28-07 01:33 PM   #47 
  - They will, if they can manage their mortgages for maximum of 24 months  David Zephyr   Aug-28-07 02:40 PM   #52 
     - A return to the mean for housing,  edhopper   Aug-28-07 04:45 PM   #60 
        - I've bookmarked this thread for future evaluation.  David Zephyr   Aug-28-07 05:31 PM   #62 
           - So expalin to me  edhopper   Aug-28-07 06:48 PM   #66 
              - Homes in Japan can require two generations to own.  David Zephyr   Aug-28-07 08:05 PM   #69 
                 - I understand your point.  edhopper   Aug-29-07 08:51 AM   #70 
                 - Well, I don't know much about Japanese real estate  spinbaby   Aug-29-07 06:47 PM   #82 
  - Just checked the flyer on my neighbor's condo yesterday  tridim   Aug-28-07 03:08 PM   #56 
  - It is just a normal market correction...  liberation   Aug-28-07 03:35 PM   #58 
  - Early 80's all over again  TexasBushwhacker   Aug-29-07 01:37 PM   #78 
  - I was talking to a real estate agent a couple hours ago  Prisoner_Number_Six   Aug-29-07 05:35 PM   #81 
     - Is it 1929 yet?  ozone_man   Aug-29-07 09:19 PM   #83 
     - was that in the DFW area?  w8liftinglady   Aug-29-07 09:55 PM   #84 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC