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Reply #64: now that is a scary chart! [View All]

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superconnected Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Aug-28-07 05:55 PM
Response to Reply #29
64. now that is a scary chart!
Thanks for posting it!
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  -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 
 

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