Discussion in 'Economics' started by jucesar2005, Mar 25, 2008.
I dont think the housing market is really getting better. Do you????
I agree with you.
Large sections of California, Florida, Nevada, and Arizona are in freefall.
The NorthEast is finally starting to pick up steam on the downside. Wall St and the financial sector layoffs are adding fuel to the fire.
The paltry drop in mortgage rates despite many rate cuts isn't materially helping anyone.
Inventories are at multi-decade highs.
RE is going lower.
Detroit-metro had a 5-20% correction on avg but now is pretty stable. My house has actually gone up in value(according to comps) over the past 3 months.
You are wrong.
Housing is getting better day by day because it becomes AFFORDABLE.
Give it another 4-5 years,
Plenty of ARMS WILL BE RESETTING IN 2008 AND 2009.
not here in Miami thats for sure...I dont care what anyone says..
You guys have too many foolish condo developers. Not true for many other areas of the country, especially the midwest.
id say afordable is another 40-50% in my area...where houses went up 4 fold since i bought in 2000... sorry but somehow i just dont see this thing being ova anytime soon.
That's because nobody moves to the midwest. They move to the coasts.
I am not arguing that....but here alone in Miami we gots lots more pain to go...and by the size of these mo-fo's they will end up causing some pain....there is alot of money being lost in real estate value and a huge amount of condos and homes down here...thats going to end up in someone's book sooner or later...peace