[Greg F]

They had a story in the paper here in S. Florida about houses and condos that had been on the market for over a year. There were hundreds and hundreds in W. Palm Beach. It’s fugly.

[o_zarkman44]

Not only are sales down and construction down, the prices sub contractors are making now are also down to the point of pressuring wages lower and many people out of work.

We are talking about recession here. There will soon be no money available for anything because the circulation and availability of money has literally stopped.

[RexBeach]

Well, this is what happened in the last housing recession.

I bought my beautiful little townhouse in Alexandria, VA in 1989. It went down in value for the next seven years before the prices began turning around in 1997 or so.

I remember saying to my mother, after several years of home ownership, “so, what’s all this talk about building equity?”

This, too, shall pass.

[ItsOurTimeNow]

This is a little concerning for me, but also a positive sign.

We’re looking to buy our first home within the next 6-9 months. Certainly having lower, more sane prices will help.

However, we’ve had credit issues in the past, and while we’ve resolved them our “good credit” score is not where I’d like it to be. My concern is that tighter lending practices will hinder us.

But at the end of the day, I’m not overly fretting. Just saving more for a larger down-payment.

[4yearlurker]

Does this mean that the illegals will be going home?

[Huck]

Worst of all, economists don't see much chance for a turnaround until mid- 2008 and possibly into 2009.

Woopdidoo. I'm concerned that the financial idiocy of others with trigger a recession, but that's life. Recession's happen. But as a homeowner, I'm not feeling rattled at all. I live in my home and intend to stay for a while. We bought at a good price. Life is good.

Prices might not turn around for two whole years? Oh the horror. Hell, two years is a blink of an eye. But hey, news writers need to fill all the blank space around the advertisments with something.

[pikachu]

Funny, after 9/11 and DFW suffered from so many American Airlines employees being fired, nobody on the coasts bitched about our housing market. I had a house on the market for almost 18 months and nobody offered me a bailout. Every time I lowered my house, another neighbor that worked for AA got their papers and under priced me. But where were the liberal medial talking about liquidity problems and me. Now DFW is doing well and the over priced house are suffering. Oh, and most of that over priced housing is in LIBERAL AREAS -- SOUND the ALARMS!!! LIBERALS are being effected. it is now officially a crisis!!!!!!!

What a load of bull crap this entire sub-prime market talk is!

[Clemenza]

Still waiting for sellers to FINALLY start dropping prices in Central New Jersey. Prices have plateued, but not fallen.

[TheRightGuy]

Whether you're a home seller, owner or buyer, by this point you've got to be feeling a little rattled.

I'm 8 years into a 30 year fixed and plan to stay in the house another 10-15 years. Even now, it's worth over 50% more than I paid for it, and I've not taken a nickel of equity out of it.

Yeah, I'm rattled for sure ... NOT!!

[MEGoody]

Whether you're a home seller, owner or buyer, by this point you've got to be feeling a little rattled.

Sorry to disappoint you, Les, but I'm not.

[weaponeer]

Whether you're a home seller, owner or buyer, by this point you've got to be feeling a little rattled.

Why? I'm a home owner and I am not rattled. I don't plan on selling my house ever, so why should I care about the current little blip in the market? I hate broad generalizations.