Home price dip extends to 4th month

anonymous

Former Staff
Jun 2008
10,578
2,873
Passing Through
#2
Home prices are still to high and I expect they will depreciate another 25% or 30% through the rest of this year.
 

michaelr

Former Staff
Dec 2006
89,668
6,642
FEMA Region 10
#3
[quote name='anonnymous' date='31 March 2010 - 11:14 AM' timestamp='1270059256' post='135002']

Home prices are still to high and I expect they will depreciate another 25% or 30% through the rest of this year.

[/quote]

I agree, but that is going to hurt a lot of people. Hell as they leave their mortgage behind, this can easily become a run away problem.
 

michaelr

Former Staff
Dec 2006
89,668
6,642
FEMA Region 10
#6
[quote name='Pragmatist' date='31 March 2010 - 03:26 PM' timestamp='1270074371' post='135091']

Housing market gains bypass Northwest

http://blog.oregonlive.com/frontporch/2010/03/housing_market_gains_bypass_no.html



Yup, apparently so.

[/quote]

God damn some people are just foolish. It is like the weather Prag, look at the entire pic. It would appear the Midwest is really taking a hit...Chicago Sees Nation's Steepest Home Price Drop...but overall, home prices are way down nation wide. If you want to look for increases in the economy, I suggest you look at unemployment!
 

michaelr

Former Staff
Dec 2006
89,668
6,642
FEMA Region 10
#7
'Very good reason' to believe home prices will collapse



If the Administration had allowed losses to fall where they rightfully belong, namely on those who foolishly loaded up on toxic mortgage bonds, then the housing market would have already found its true clearing level. Instead, every measure is working to prolong and delay the ultimate reckoning, while setting up taxpayers as the patsy. Given the horrendous government deficit projections for the next several years, any losses incurred by the government mortgage portfolio may add a critical stress on America's fiscal viability.


In a nut shell, the government fucked up, the "tax credits" maybe slowed the pain but we are not facing a sovereign debt crisis. If we did nothing, as the fools keep asking, we would have hit hard, but it would be about bottom, and some sign of sanity would be within reach. Oh well, just remember that the federal reserve needs the banks book to reflect the assets are secure, they have the dollar pegged on that! That is the damn dumbest move that I ever heard of in my lifetime.
 
Dec 2007
477
14
Jax beach FL
#8
[quote name='michaelr' date='31 March 2010 - 07:18 PM' timestamp='1270077506' post='135100']

God damn some people are just foolish. It is like the weather Prag, look at the entire pic. It would appear the Midwest is really taking a hit...Chicago Sees Nation's Steepest Home Price Drop...but overall, home prices are way down nation wide. If you want to look for increases in the economy, I suggest you look at unemployment!

[/quote]Mike floods have been destroying housing stock in the northeast it would be amazing if prices didn't go up in the area. Everytime there is a fire in CA the pressure on housing prices go down because the supply shrinks. Why do you think there is so much arson in western fire seasons. Every destroyed house is a home owner that has financed out of their mess. Detroit has an annual arson festival to finance out, it's called Devil's night. The anti-semetic misnaming of this process is Jewish lightening it was invented by the Irish and Italian immigrants of MA. Although other methods are used such as the great mollasses flood of 1920 fire is more dependable. Living in WA where you do it never gets dry enough for anything to burn but it is a major tool of finance everywhere else.
 

michaelr

Former Staff
Dec 2006
89,668
6,642
FEMA Region 10
#9
[quote name='william the wierd' date='31 March 2010 - 06:46 PM' timestamp='1270086391' post='135137']

Mike floods have been destroying housing stock in the northeast it would be amazing if prices didn't go up in the area. Everytime there is a fire in CA the pressure on housing prices go down because the supply shrinks. Why do you think there is so much arson in western fire seasons. Every destroyed house is a home owner that has financed out of their mess. Detroit has an annual arson festival to finance out, it's called Devil's night. The anti-semetic misnaming of this process is Jewish lightening it was invented by the Irish and Italian immigrants of MA. Although other methods are used such as the great mollasses flood of 1920 fire is more dependable. Living in WA where you do it never gets dry enough for anything to burn but it is a major tool of finance everywhere else.

[/quote]

They have a term for that but i wont use it on the board William. The floods didn't cripple as many homes as it did farms, and the heavy snow in that region really put the hurt down on honey bees.



We have had our share of arsons, hell entire blocks, but of course they are attributed to criminal arson rather than financial arson.



How are you?
 
Dec 2007
477
14
Jax beach FL
#10
[quote name='michaelr' date='31 March 2010 - 10:09 PM' timestamp='1270087755' post='135143']

They have a term for that but i wont use it on the board William. The floods didn't cripple as many homes as it did farms, and the heavy snow in that region really put the hurt down on honey bees.



We have had our share of arsons, hell entire blocks, but of course they are attributed to criminal arson rather than financial arson.



How are you?

[/quote]

Doing tolerably well and as usual hoping for a 30% correction this quarter. Lost 7.4% last quarter through my own stupidity when my maximum loss should have been 6.25%. Live and learn to screw up some new way.