tag:blogger.com,1999:blog-18675105.post6204609310105518816..comments2024-01-15T12:16:41.302+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: HousingPANIC Stupid Question of the Daybloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger32125tag:blogger.com,1999:blog-18675105.post-37671425237030167252008-05-12T22:24:00.000+01:002008-05-12T22:24:00.000+01:00The problem, if you expect to live in the home lon...The problem, if you expect to live in the home long term, becomes of what will happen to the neighborhood when this shit blows through. Like other s mentioned what if you save 50% but the price continues to fall? What if the neighborhood was good at the time of sale, but disintegrates as the broke dicks are kicked out of their homes, or what happens if the government Section 8's an area? <BR/><BR/>I don't think it is wise to buy these days, even if you get a deal, as you don't know what tomorrow may bring and you may not be able to bail out yourself if the afroementioned facets force things to go south. I believe it will be a time to buy when sanity comes to the market and the shit blows away. Only then can you rest with ease knowing that your neighborhood will stay somewhat uniform, and it won't degrade into a ghetto.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-74726906988078624242008-05-12T21:15:00.000+01:002008-05-12T21:15:00.000+01:00To Anon 7:26 PM:You can build your ‘castle in the ...To Anon 7:26 PM:<BR/><BR/>You can build your ‘castle in the sky,’ but then you need to put a foundation for it.<BR/><BR/>Are you saving for a downpayment? Learning gardening & other self-sufficiency skills? Learning how to control your spending by jumping off the consumer bandwagon and either making/doing/fixing it yourself, buying when it’s on sale, and buying used?<BR/><BR/>Learn all you can before you dive into it; otherwise you may end up living way out in the sticks with a long daily commute into ‘the big city’ because the wages where you live suck.<BR/><BR/>Good luck.<BR/><BR/>-MammothMammothhttps://www.blogger.com/profile/15331079890390629462noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-91941169937016692102008-05-12T19:26:00.000+01:002008-05-12T19:26:00.000+01:00"The junk homes built with illegal labor in the ea..."The junk homes built with illegal labor in the early 00s will not last over 30 years without major problems. That aside, the days of cheap energy are over for good. "<BR/><BR/>I want a house with:<BR/><BR/>-a few acres - so I can grow food if necessary!<BR/><BR/>- solar panels (new ones that I put on & make money on by pushing the overage into the grid<BR/><BR/>- wood stove insert to heat the place w/ dead wood from the acreage if need be (and gas is too high)<BR/><BR/>- instant water heater<BR/><BR/>anything else that will fight the high energy costs that aren't EVER going to go down!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-28785937927472742062008-05-12T17:35:00.000+01:002008-05-12T17:35:00.000+01:00Mister Alpine said... YES!!! I would buy a house f...Mister Alpine said... <BR/>YES!!! I would buy a house for 50%off peak prices. But I don't live in a hard hit bubble state so this would never happen here (I am in northern NJ). By the time the house is priced at 20%-25% under peak prices a bidding war would break out.<BR/>===========================<BR/> Same here! Using my own home, assessed at 100%, as a yardstick, nice older homes in my neck of the woods, adjusting for average inflation, actually cost equal or LESS than they did 20 years ago.<BR/>Anything past 10% sells immediately, 20-25% would be unreal!<BR/><BR/> Bidding War? Good grief! It would be a shooting war, with real bullets. Winner gets to buy the house!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-36086181829150005982008-05-12T15:45:00.000+01:002008-05-12T15:45:00.000+01:00The junk homes built with illegal labor in the ear...<I><BR/>The junk homes built with illegal labor in the early 00s will not last over 30 years without major problems.</I><BR/><BR/>Many of them are already falling apart. Cheap, shoddy materials with cheap, illiterate labor makes for a crappy houseAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-45380619859104613872008-05-12T11:56:00.000+01:002008-05-12T11:56:00.000+01:001/2 off with the dollar loosing value is still - 5...1/2 off with the dollar loosing value is still - 50% too much, give me a stronger dollar and 75% off and we'll talk.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-86559497892577093042008-05-12T08:53:00.000+01:002008-05-12T08:53:00.000+01:00But how much cash-back do I get as signing bonus? ...But how much cash-back do I get as signing bonus? The last buyer split 50% of the sale price with the seller. LOL!<BR/><BR/>50% off a fraudulent price doesn't mean squat. How much is the rental revenue per month? 100x that as price may start to get me interested.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-73670065566432234212008-05-12T07:39:00.000+01:002008-05-12T07:39:00.000+01:00It depends on a lot of factors. What market? How m...It depends on a lot of factors. What market? How much more does it have to fall? Do I like the house? Etc etc.<BR/><BR/>You have a good point Frank.<BR/><BR/>It still fall back to the seven trends<BR/><BR/>Three National Trends<BR/>1) Inflation<BR/>2) Interest Rate<BR/>3) Flow of Funds<BR/><BR/>Four Local Trends<BR/>1) Migration<BR/>2) Job Growth<BR/>3) New Construction<BR/>4) Path of Progress<BR/><BR/>http://www.bls.gov/news.release/<BR/>archives/metro_04292008.htm<BR/><BR/>Seattle-Bellevue-Everett seems to be improving in the area of job growth from last year according to BLS.<BR/><BR/>Unemployment went are still at 3.8 percent. Not back for a city with a large work force.<BR/><BR/>It still look like people are still migrating there, but kind of wonder what is driving their path of progress.<BR/><BR/>http://seattletimes.nwsource.com/<BR/>html/realestate/2004379748_<BR/>foreclosure29.html<BR/><BR/>Foreclosure filings up in Puget Sound area; rate still low compared to nation's<BR/><BR/>No detail was available to explain why the Seattle area is faring better than the rest of the state. <BR/><BR/>Seattle's economy is stronger than the national average, providing the possibility most local owners have the income to keep their homes.<BR/><BR/>http://www.pmi-us.com/media/pdf/<BR/>products_services/eret/<BR/>pmi_eret08v2s.pdf<BR/><BR/>PMI risk index shows Seattle-Bellevue-Everett Economic and Real Estate Trends risk decreasing from 7.1 to 3.8 percent.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-77545979553206689332008-05-12T06:53:00.000+01:002008-05-12T06:53:00.000+01:00That would take the $600,000 crackhouse in Compton...That would take the $600,000 crackhouse in Compton down to $300,000. What do you think?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-74977653326056601602008-05-12T06:01:00.000+01:002008-05-12T06:01:00.000+01:00The junk homes built with illegal labor in the ear...The junk homes built with illegal labor in the early 00s will not last over 30 years without major problems. That aside, the days of cheap energy are over for good. Living in the boonies with 4800 sq ft to climate control will never make economic sense again.<BR/><BR/>They would have to sell for 75-85% off and I would look into one for my retired parents who do not need to drive to work each day and start getting cold when the a/c is set under 78 degrees.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-28210701590744785862008-05-12T05:17:00.000+01:002008-05-12T05:17:00.000+01:00Anyone using a bus tour to assess foreclosed prope...Anyone using a bus tour to assess foreclosed properties deserves to lose every penny they have. Idiots!Markhttps://www.blogger.com/profile/02762113599289023399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-78309769721977437322008-05-12T05:13:00.000+01:002008-05-12T05:13:00.000+01:00depends on the house/location.Free couldn't get me...depends on the house/location.<BR/><BR/>Free couldn't get me to move to some places.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-56703420404770112442008-05-12T04:16:00.000+01:002008-05-12T04:16:00.000+01:00Myabe this idiot would buy onehttp://www.msnbc.msn...Myabe this idiot would buy one<BR/><BR/>http://www.msnbc.msn.com/id/24569891/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-70517265738830410572008-05-12T02:49:00.000+01:002008-05-12T02:49:00.000+01:00"Half off" will be next years basis for deciding w..."Half off" will be next years basis for deciding what is<BR/>"Half Off".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-5212665757432577972008-05-12T02:27:00.000+01:002008-05-12T02:27:00.000+01:00Half off a $600,000 1,200 square foot house means ...Half off a $600,000 1,200 square foot house means nothing. 85% off (puts a $600,000 house at $90,000) and i'd at least consider it.Owner Earningshttps://www.blogger.com/profile/17837801719246490816noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-74796351508283292242008-05-12T01:58:00.000+01:002008-05-12T01:58:00.000+01:00I wouldn't be tempted but (I've just learned) my s...I wouldn't be tempted but (I've just learned) my spouse would. <BR/><BR/>Ouch.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-40786966602268665522008-05-12T00:58:00.000+01:002008-05-12T00:58:00.000+01:00Anonymous Anonymous said... Half off does have...Anonymous Anonymous said...<BR/><BR/> Half off does have a ring to it<BR/><BR/> May 11, 2008 9:35 PM<BR/>------------<BR/>But half off a home that quintupled in value during the bubble is still 50% over priced!!<BR/><BR/>No, price before my deposit must be no more that 130x rent (or less), period!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-65329009419493006682008-05-12T00:12:00.000+01:002008-05-12T00:12:00.000+01:00Banks are selling their houes at significant disoc...Banks are selling their houes at significant disocunts, but only to investors who buy them in bulk. If your an average HPer looking to steal a foreclosure, FORGET IT. Ain't going to happen (Unless you buy an REO in Detroit for $1, but that is another ball game)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-967943639669914442008-05-12T00:11:00.000+01:002008-05-12T00:11:00.000+01:00YES!!! I would buy a house for 50%off peak prices...YES!!! I would buy a house for 50%off peak prices. But I don't live in a hard hit bubble state so this would never happen here (I am in northern NJ). By the time the house is priced at 20%-25% under peak prices a bididng war would break out.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-74616969369577478102008-05-12T00:01:00.000+01:002008-05-12T00:01:00.000+01:00Well, maybe. The question isn't whether the house...Well, maybe. The question isn't whether the house is half off, a third off, or anything else.<BR/><BR/>Here's the real question: if you find a house in a neighborhood you like, a house that you intend to stay in long enough to pay off the mortgage, and you can afford the house, would you buy it? Or would you wait and try to time the bottom of the market?<BR/><BR/>Pull the trigger and don't look back or hold off just in case?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-63155463688172764082008-05-11T23:47:00.000+01:002008-05-11T23:47:00.000+01:00Half off - is a good start.Half off - is a good start.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-63146466193615357482008-05-11T22:20:00.000+01:002008-05-11T22:20:00.000+01:00Well, I've been waiting and watching the real esta...Well, I've been waiting and watching the real estate market for years. We had a lovely little oceanfront efficiency in Litchfield, SC that we loved, but it doubled in price in 2 and 1/2 years, so we cashed in. <BR/><BR/>We've been waiting and watching ever since, and just found a 3 bedroom, 2 bath, brand new condo in the same town for $130K. 5 minutes from the ocean. So, we're back in.<BR/><BR/>We think it's a good deal, and we're buying to enjoy and hold. So there are some deals out there, if you keep your eyes peeled. <BR/><BR/>Seashore girlBKShttps://www.blogger.com/profile/08574007682138325671noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-82218667297421390912008-05-11T22:18:00.000+01:002008-05-11T22:18:00.000+01:00Hell yes!50 cents on the dollar is a good deal...e...Hell yes!<BR/><BR/>50 cents on the dollar is a good deal...even if it's worth 20 cents on the dollar.<BR/>Did you catch the Laker game?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-56531813601906369812008-05-11T22:16:00.000+01:002008-05-11T22:16:00.000+01:00It's only a starting point in most bubble areas. P...It's only a starting point in most bubble areas. Prices need to go back to 2000 levels since real incomes have not increased at all the past 8 years.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-10644463480665123102008-05-11T22:12:00.000+01:002008-05-11T22:12:00.000+01:00DRIVE TILL YOU FIND A RENTAL!!!THEY'RE NOT MAKING ...DRIVE TILL YOU FIND A RENTAL!!!<BR/><BR/>THEY'RE NOT MAKING ANY MORE RENTAL HOMES!!!<BR/><BR/>RENT NOW OR FORVER BE PRICED OUT OF THE RENTAL MARKET!!!<BR/><BR/>RENTING IS THE SAFEST INVESTMENT YOU'LL EVER MAKE!!!<BR/><BR/>RENTING IS THE KEY TO HAVING ANY WEALTH LEFT!!!<BR/><BR/>MAIL THOSE KEYS BACK AND FIND A LANDLORD. YOU'LL BE GLAD YOU DID!!!<BR/><BR/>DOPES!!!Anonymousnoreply@blogger.com