posted on 06/09/2011 10:12:25 AM PDT
Conversely, my small farm in central Kentucky that closed in August of 2009 is worth more than I paid for it. I know because I am in the middle of a refi.
posted on 06/09/2011 10:17:36 AM PDT
(The US today: Revelation 18:4)
Well then Im glad I completely own my house out right...
How’s that “Hope and Change” working out for everyone?
posted on 06/09/2011 10:23:26 AM PDT
(Never forget that the American Revolution began when the British tried to disarm the colonists.)
This should come as no surprise to anyone. The mid-2000s saw a huge, artificial increase in home prices driven by low interest rates and loose lending standards. As a result, many people did one of two things in that time period: (1) they paid more for their homes than their homes were really worth by any objective measure; or (2) they took advantage of the rapid escalation in prices by borrowing money against their homes to pay for other things.
Once home prices began their inevitable decline a few years ago, is it any wonder that there is so little equity left in the market?
posted on 06/09/2011 10:43:53 AM PDT
by Alberta's Child
("If you touch my junk, I'm gonna have you arrested.")
Our home has been underwater for the last three years and there is no sign of it getting better. Thankfully we don’t plan on selling.
It’s going to go a lot lower, and for a very long time.
posted on 06/09/2011 1:04:40 PM PDT
(We Baby Boomers are croaking in a thunderous avalanche of rottenness heard across the universe.)
It’s a place to live - not an ATM.
Get used to it.
posted on 06/09/2011 8:40:50 PM PDT
(Animals! The DemocRats blew up the windmill with an Acorn!)
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