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When will housing hit bottom?
Market Watch ^ | 24 October 2007 | Rex Nutting

Posted on 10/28/2007 4:14:43 AM PDT by Jacquerie

WASHINGTON (MarketWatch) -- The housing market is just getting worse. Home resales tumbled 8% in September to the lowest levels in this decade, prompting the obvious question: When will it all end?

The honest answer is no one knows. Optimists have been saying for more than a year that the worst is behind us, while the pessimists have been saying recovery is still a year, or years, away.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy
KEYWORDS: housing; mortgage; subprime
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To: kjam22
Leverege is a code word for "risk".

What an interesting perspective.

121 posted on 10/29/2007 6:20:03 AM PDT by ladyjane
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To: RightWhale

Yes...I know the bottom.

At my super-secret meeting last night with the other 33rd degree Masons at the CFR Compound in the secret underground town of Bilderberger, New York, the Illuminati told me telepathically that the bottom will be on February 18, 2012.


122 posted on 10/29/2007 10:29:04 AM PDT by RockinRight (The Council on Illuminated Foreign Masons told me to watch you from my black helicopter.)
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To: RockinRight

The correct date is 21 Dec 2012. Your handlers are withholding important information from you.


123 posted on 10/29/2007 10:31:10 AM PDT by RightWhale (anti-razors are pro-life)
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To: Jacquerie
When will housing hit bottom?

When the average income in an area can afford the average home price.

124 posted on 10/29/2007 10:50:45 AM PDT by fso301
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To: ladyjane

When have you ever heard that someone levereged their investment that it didn’t involve risk? Name one way.


125 posted on 10/29/2007 11:18:58 AM PDT by kjam22 (see me play the guitar here http://www.youtube.com/watch?v=noHy7Cuoucc)
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To: Jacquerie

[tinfoil hat on]California fires were started by the Mortage industry, needed new homes built and sold to revive the housing market. bbbbzzzaaap!! it’s dead jim. it’s dead.


126 posted on 10/29/2007 11:21:26 AM PDT by Ancient Drive
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To: Jacquerie

bump


127 posted on 10/29/2007 12:07:21 PM PDT by Freedom_Is_Not_Free
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To: Jacquerie

The US Housing Demand is about 1.6 million houses per year. Since 2000, we have produced between 1.8 and 2.0 million per year, leaving an excess of 2.0 million houses available. In order to fix this problem, there needs to be less than 1.6 million homes built for a few years to absorb this excess.

The educated answer/guesstimate to your question is that the we should have our housing in equilibrium in 2010.


128 posted on 10/29/2007 12:25:11 PM PDT by cowtowney
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To: Jacquerie

My previous answer needs to be taken in context that real estate is a local business and the housing market will not hit bottom nor recover at the same time in all locations.


129 posted on 10/29/2007 12:30:10 PM PDT by cowtowney
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