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Reply #6: Most homes are still over-valued and with [View All]

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adnelson60087 Donating Member (661 posts) Send PM | Profile | Ignore Tue Dec-28-10 10:15 AM
Response to Original message
6. Most homes are still over-valued and with
unemployment numbers (fake as they are) near 10%, how can anyone rationally expect this trend to turn around? With outsourcing of our tech sector and off-shoring of our manufacturing base, what exactly are Americans supposed to DO in order to make a high enough salary to afford a 30 year mortgage on a property of 250K? The folks in washington need to get a clue, but they won't. Start by re-investing in our manufacturing sector before it's too late.
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  -Home price plunge is widespread mahatmakanejeeves  Dec-28-10 09:44 AM   #0 
  - Consumer confidence in the United States unexpectedly deteriorated in December  somone   Dec-28-10 09:46 AM   #1 
  - Irrational Exuberance! Housing over-loaded with Costs - Was Never  Riverman   Dec-28-10 10:50 AM   #7 
     - Bah--BALONEY!  katnapped   Dec-28-10 10:58 AM   #8 
  - Dang, what a stunner, you could knock me over with a feather.  bemildred   Dec-28-10 09:49 AM   #2 
  - Kinda hard to take a 30-year mortgage when you're uncertain you'll  no_hypocrisy   Dec-28-10 09:55 AM   #3 
  - That's the thing - if jobs are vanishing to offshore, who wants to give you a 30-year loan?  closeupready   Dec-29-10 01:08 PM   #22 
  - recommend -- further erosion of wealth for working and middle class america. nt  xchrom   Dec-28-10 09:56 AM   #4 
  - To be followed by historic buying opportunities for them when the job situation improves  slackmaster   Dec-28-10 10:58 AM   #9 
     - It's true. n/t  Psephos   Dec-28-10 01:26 PM   #13 
     - The "when the job situation improves" is where your theory fails n/t  conspirator   Dec-29-10 11:17 AM   #20 
        - That's exactly what has happened in every housing market cycle in the past  slackmaster   Dec-29-10 11:35 AM   #21 
           - For the same reason this depression is different from the others  conspirator   Dec-30-10 09:04 AM   #24 
              - Sums it up nicely  Bragi   Dec-30-10 09:17 AM   #25 
              - This is not the first time that any of those things have happened, if you look at it in abstract  slackmaster   Dec-30-10 10:32 AM   #27 
  - $1,356,253,000 from atlanta for the cost of the oil wars  madrchsod   Dec-28-10 10:12 AM   #5 
  - Most homes are still over-valued and with  adnelson60087   Dec-28-10 10:15 AM   #6 
  - It will turn around when employment improves  slackmaster   Dec-28-10 10:59 AM   #10 
  - Interest rates rising means housing prices will decline.  Statistical   Dec-28-10 11:02 AM   #11 
  - You are exactly correct  customerserviceguy   Dec-29-10 01:17 PM   #23 
  - I bought a year and a half ago.  SheilaT   Dec-28-10 11:34 AM   #12 
  - watch out for the really smart guys!  UpInArms   Dec-28-10 04:39 PM   #14 
  - Housing is still overvalued here.  hollowdweller   Dec-28-10 07:25 PM   #15 
  - but how can that be when property value taxes are increasing?  eowyn_of_rohan   Dec-28-10 07:32 PM   #16 
  - Glad I stayed away from buying a house in 2005.  roamer65   Dec-28-10 10:00 PM   #17 
  - kick  defendandprotect   Dec-29-10 12:09 AM   #18 
  - Still not low enough.  boppers   Dec-29-10 01:30 AM   #19 
  - They'll pass a new tax incentive program for house buying.  TexasObserver   Dec-30-10 09:19 AM   #26 
 

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