A REBOUND FOR HOUSING? NOT SO FAST.

Kiplinger Forecasts ^ | 9 November 2006 | Jerome Idaszak

[freedomdefender]

I do get the impression that, for many months, someone who posted an article on the housing situation risked being flamed. Many on freerepublic interpreted such a posting as a dig at Pres. Bush. But talking about the housing market is just that - talking about the housing market. Bush isn't responsible for the laws of supply and demand that have been causing a housing slowdown. And it's not "anti-Bush" to report on the state of housing prices. I personally think it's healthy for housing prices to flatten or go down. A continued run-up at the levels we'd seen for the previous three years was unstustainable, and it would have made housing unaffordable for most people, if it had continued.

[freedomdefender]

The appraisal came in at $162,000.

How big a home? No. of bedrooms, and square foot of interior?

[outdriving]

It has to be in trouble. When housing becomes unaffordable in relation to incomes, some thing's going to give.

Aliens are used to overcrowded housing with 2-4 families in single family housing units to meet high costs, maybe this is the wave of the future.

Just like two income families have become the norm in order to meet the rising costs of living. "DINK" is no longer a path to a cushy lifestyle, now it's just survival.

The American dream is dying, thanks to Globalization.

Thanks, free trade suckers.

[Admin Moderator]

We're not going to start a flame war here on this thread.

Is that clear?

[Lunatic Fringe]

4 BR, 2 1/2 bath, 2250 sq ft. I also got an oversized lot that is 120'x70'.

[MeneMeneTekelUpharsin]

Is that clear?

Yes it is. I am a patient man. Very.

[Petronski]

I'm not starting anything.

[MeneMeneTekelUpharsin]

And it's not "anti-Bush" to report on the state of housing prices.

No, it's not anti-Bush at all, it is simply the truth about what is going on. Bush has nothing to do with housing prices, per se. Greedy speculators, stupid banks and (indescribeable) real estate agents are to blame.

[The Iceman Cometh]

As a Realtor in Idaho, I fully agree with these comments and see an adjustment period extending into '07.

[MeneMeneTekelUpharsin]

I've cut my home price to bare bottom. $75,000 less than the state median. And there's still a six month backlog of unsold home inventory here in California.

My friend who owns a home in California just cut his price $60,000 from the $350,000 he had been asking and is going to give the house back to the bank as it is not selling and he can't continue to make payments on it. That is a pretty big percentage drop in price in my opinion.

[MeneMeneTekelUpharsin]

You're supposed to cash everything out and BUY GOLD!

Wouldn't do that either.

[BurtSB]

what do you mean by a bushbots ? Are a DU ite here to gloat?
what until nancy and charlie sent you a valentine from the IRS which includes a elimination of the capital gains .
the game you dems play is to destroy the economy blame bush and get hillary in the office in 2008 . we know the strategy !

[Justa]

"Those who have been on here lying about the housing market and have set up people for a financial fall are to be held responsible."

What with, FR housing tribunals? And how will property owners have a "financial fall" if they maintain ownership? I don't see too many FReepers as the type to buy more house than they can afford so I don't think many would be forced to sell in the future. At worst all they should have to do is hold on and let inflation catch up.

[freedomdefender]

My friend who owns a home in California just cut his price $60,000 from the $350,000 he had been asking and is going to give the house back to the bank as it is not selling and he can't continue to make payments on it.

Where in California?

[BurtSB]

what part of st pete ? old ne or tyrone square. it matters.

[SuziQ]

I also got an oversized lot that is 120'x70'.

That's oversized? In Texas?

[Lunatic Fringe]

For a house is suburbia Dallas, yeah it's a good lot size. I remember the house I bought back in '98 was a zero lot. I could step out the backdoor and knock on my neighbor's window.

[gonewt]

There is no single "housing market." Here in Charlotte, NC we are not seeing anywhere near the same type of slowdown that they're seeing in California or South Florida.

I'm continuing to buy when it's prudent to do so.

[Petronski]

There is no single "housing market."

Amen.