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If Christine Romans is right in her analysis of the housing mkt.

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napi21 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-06-09 10:15 AM
Original message
If Christine Romans is right in her analysis of the housing mkt.
it will never see a recovery! She said the housing prices are still down 30% from their peak. Well DUH! Many area housing prices were so over inflated they'll never go that high again...at least I hope they don't.

I see some improvement in the housing business, and I sure don't think it's as bad as Romans & her money buddies are portraying.
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scheming daemons Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-06-09 10:16 AM
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1. Housing market in my area never went down

SW PA.

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sandnsea Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-06-09 10:18 AM
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2. They were inflated to support the derivative scheme
Without the derivative scheme to invest in, there's no reason to write all those phony mortgages. We'll have a housing market that matches salaries again, or at least closer than it has for many years. You can't have median housing at $250,000+ when median salaries are $15.00 hr.
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sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-06-09 10:20 AM
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3. Is she defining 'recovery' as housing prices? Never having them inflate again doesn't mean the
housing market won't have recovered.
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bullimiami Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-06-09 10:21 AM
Response to Original message
4. never is a long time. it was a severe correction for some very over inflated markets.
Edited on Thu Aug-06-09 10:22 AM by bullimiami
some markets which didnt experience the boom also avoided a bust.
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madmax Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-06-09 10:38 AM
Response to Original message
5. During Raygun's administration
when mortgage rates were at 16 -18% the 'experts' said we'd never see single digit mortgage rates again.
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