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Only 39% Now Expect Improved Home Values in Five Years
Rasmussen Reports ^ | April 17, 2011 | by Scott Rasmussen

Posted on 04/17/2011 12:32:25 PM PDT by library user

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To: Freedom_Is_Not_Free

It is the mobility factor that is the problem; moreso than the price or the “investment”.
I have lived in this house for 12 years; and it is my 6th one.
There was a time that you could put a house on the market at a reasonable price
with a fair amount of confidence that it would sell in 3 months or so;
but that is not so any more.
Home ownership is becoming unattractive for many people.


21 posted on 04/17/2011 5:00:38 PM PDT by Repeal The 17th (Tagline closed for repairs. Please use the next available tagline. We appreciate your patience.)
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To: Night Hides Not

Houses in Roseville CA that were going for 1.1 million four years ago can now be had for $550,000. A big loss for some, but a big win for others.


22 posted on 04/17/2011 7:30:48 PM PDT by ExtremeUnction
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To: umgud
About the time we walk thru all this excess inventory, the baby boomers will be stepping out of their homes into nursery homes.

Boomers have great big homes that they must dispose of. New families today don't need these houses. The glut will continue.

23 posted on 04/17/2011 7:33:50 PM PDT by ExtremeUnction
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To: Repeal The 17th

Either our recollections differ, or the city/state you are in is different than my experience in Sacramento & San Francisco, California.

We had a housing downturn in 1990/91. For the next few years, it was definitely not easy to sell a house in 3 months. By 1998 or so, then yes, it was easy to sell a house within 3 years.

I was just getting out of college, but I recall the recession of 1981/82 with some very high interest rates caused by Volcker to end the recession. Definitely not a time to be able to sell a home in 3 months. By the time I bough my home in 1987, we were back in the start of a new housing boom and yes, it was easy to sell a house in a couple of months.

Cycles.

1980 - 1986, down.
1987 - 1991, up.
1991 - 1997, down.
1998 - 2006, up.
2007 - ?, down.

Cycles. Up and down. These keep repeating.

Right now we are in a down housing cycle with an economic depression and a credit crisis. Triple whammy. So yes, it is exceedingly difficult for many houses to sell in many places, and it doesn’t help that many owners trying to sell have not been able to keep the house up or bring it to perfect condition for the sale.

A neighbor across the way is selling and the paint is awful If I were him, I would beg, borrow, or steal a paint job or offer my realtor an 8% commission if he would pay for the paint up front and take the cost off the backside of the sale. In this market, he is not going to sell a dumpy looking home in an area where 99% of the homes are more or less immaculate - great paint/roofs, manicured lawns. Most people will look at his paint and assume he was as poor with the house maintenance as he was with the outside paint - which would not surprise me if true.

So yes, we are in a horrible cycle that will last a while and selling a house quickly is next to impossible. In your case, I guess it makes sense never to buy again. For most people, after houses become truly affordable again - as they will — many people will be anxious to buy.

I guarantee more housing up cycles. It is undeniable. In your case, you don’t want to be tied down. Well, that is always a strong consideration. There is nothing wrong with the freedom of renting.


24 posted on 04/17/2011 8:17:18 PM PDT by Freedom_Is_Not_Free (Don't confuse Obama's evil for incompetence.)
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To: sten
(updating for today...)

from an earlier thread on april 17th ( link)

year (jan) note my home $ gold $/oz my home in gold(oz) silver $/oz my home in silver(oz)
2006   425k 550 772 9.25 45,946
2007 dems move into congress 380k 625 608 12.75 29,804
2008 dems have congress for one year 290k 885 327 16.00 18,125
2009 dems take whitehouse, 0bama steps in 270k 860 314 12.00 22,500
2010 dems in full swing 250k 1150 217 17.50 14,286
2011 GOP takes back the house 224k 1360 164 29.00 7,724
12 APR 2011 222k 1452 153 40.05 5,543
14 JUL 2011 188k 1586 118 38.46 4,888

although it may look like my home value dropped to 50% of what it was in 2006, in real world buying power, it is now 16-20% of what it was in 2006.

the dems and progressives have done a real job on the people of the US

do the math yourself. check out zillow.com for your home value over the passed 5 yrs. plug those values in, calculate the value in terms of ounces of gold and silver... and you'll see how much you've lost

update:
how much exactly? as of july 14th:

denomination # ounces market value ($)
gold 654 1,037,244
silver 41,058 1,579,501

25 posted on 07/14/2011 1:48:41 PM PDT by sten (fighting tyranny never goes out of style)
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To: sten

SFH, 5,500 sq ft, every possible amenity, 2007 price was
2.2 mil, then 1.9, then 1.7, 1.5. down to 995K. Guy
walked into the bank and offered them 500k cash and was
accepted. A beautiful home on groomed grounds. Stole it.


26 posted on 07/14/2011 2:55:31 PM PDT by OregonRancher (Some days, it's not even worth chewing through the restraints)
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