HOME PRICES PLUMMETING

The Austin American Statesman | 01 February 2003 | Shonda Novak

[j_tull]

Trying to buy a house in the Hartford area as I type. Agent told me prices up 25% in last 9 months. My timing is perfect, as usual. 8^(

[HamiltonJay]

Well my area prices never got insanely inflated, so they have remained flat/slow stead up... which is all they ever did (other than decaying neighborhoods). Bay area though I got to watch the collapse first hand, when I arrived $650k for a frame stick 1200 sq ft 3bd home... when I left $450 and dropping in same neighborhoods...

Of course not being a partaker of bay area refusal of reality I saw that one coming before I ever got off the plane when I arrived... and also why I never bought when out there. THat and the fact that what they sold as an $800k or $1MM house had the build quality one would expect of a levitown home... sorry I work way to hard for my money to pay that kind of $$ for poor construction, cheap ammenities ... for crying out loud the wallpaper seams weren't even lined up properly.

Where I live now, prices never spiked insanely upward, far too much existing supply to warrant a huge uptick. Not saying housing market could get depressed... but when there are houses in good condition in reasonable neighborhoods for 25-50k widely available its hard to believe they are going to get too much more depressed. If anything the newer homes will see the depression in this area, I would worry if I just bought in the last few years one of those bigger homes they build those are going to be the most suceptible to depression around here IMHO.

[BureaucratusMaximus]

That is absolutely ridiculous.

[panaxanax]

We just returned from a cross-country trip from NY to CA. Northern NM, AZ, OK, TX, UT and CA are being taken over by mexicans. Arkansas, especially the Rogers and Bentonville areas, has become like Tijuana (sp), complete with street vendors.

[Mulder]

We just returned from a cross-country trip from NY to CA. Northern NM, AZ, OK, TX, UT and CA are being taken over by mexicans. Arkansas, especially the Rogers and Bentonville areas, has become like Tijuana (sp), complete with street vendors

Welcome to the New World Order.

[Ditter]

40 acres out in the boonies for $5000? Sounds like some of the deals you see on eBay. Are you off road with no water or utilities?

[MeneMeneTekelUpharsin]

You need to read the story about Greenspan's comments today. Here's the link:

Click here for other thread.

[MeneMeneTekelUpharsin]

We just returned from a cross-country trip from NY to CA. Northern NM, AZ, OK, TX, UT and CA are being taken over by Mexicans. Arkansas, especially the Rogers and Bentonville areas, has become like Tijuana, complete with street vendors.

This will only expand further. Watch...