This market has some real fundamental issues!

[socrattt]

I appreciate all the analysis. I agree this is somewhat of a guessing game. I will admit though that my sentiment since the last downturn is dramatically different. This housing market has affected the entire global economy throwing many of the past cyclical ideologies out the door.

I really don’t believe that we can chart anything with the stock market or real estate market at this point due to so much global involvement. I don’t think it would be far fetched to prepare for a few more catastrophic economic events in this country. Many are fear based and run off emotions therefore the chance of things getting much worse before they get better seems extremely possible.

I am blessed to be cash rich and have always lived within my means. That said I still believe those who made the poor choices in this country are the ones who will thrive. I don’t want to change the topic here, but the bailout of GM and Ford make me sick to my stomach. Another round of bailing out those who deserve to fall! When this market turns around the question might be “Why buy a home when our tax rate will be 50% on middle class income?” A small write off is great, but the liability of the investment may not be worth it. We still have to solve a massive tax problem once everything else is back on track!

Thanks again for the insight!

[ibjames]

I still think MM prices will go down more, when areas surrounding start to adjust MM will have to adjust also to compete for people.

2001 median 285,000

2000 median 245,000

my wife and I are socking away 30% of our take home to save for a house right now, hopefully it puts us in a good position

[ibjames]

I still think MM prices will go down more, when areas surrounding start to adjust MM will have to adjust also to compete for people.

2001 median 285,000

2000 median 245,000

my wife and I are socking away 30% of our take home to save for a house right now, hopefully it puts us in a good position

[ibjames]

I still think MM prices will go down more, when areas surrounding start to adjust MM will have to adjust also to compete for people.

2001 median 285,000

2000 median 245,000

my wife and I are socking away 30% of our take home to save for a house right now, hopefully it puts us in a good position

[ibjames]

I still think MM prices will go down more, when areas surrounding start to adjust MM will have to adjust also to compete for people.

2001 median 285,000

2000 median 245,000

my wife and I are socking away 30% of our take home to save for a house right now, hopefully it puts us in a good position

[ibjames]

I still think MM prices will go down more, when areas surrounding start to adjust MM will have to adjust also to compete for people.

2001 median 285,000

2000 median 245,000

my wife and I are socking away 30% of our take home to save for a house right now, hopefully it puts us in a good position

[cr]

I think it was Calculated Risk who had a post a while back on what housing typcially does in a downmarket. Something along the lines of rapid depreciation (where we are now), slowed depreciation, flat, then slow increases.

TG you’re right prices won’t go the $0, but they certainly won’t hit bottom and start a rapid upturn. Just look at the macro factors right now.

Although the HUD has a $1 Home program, though who knows if any have or ever will go for that.

http://www.hud.gov/offices/hsg/sfh/reo/goodn/dhmabout.cfm

I personally am looking for 2000 prices. If they never get there, then I have to decide if I pay more than I want, or if I move.

But I regardless of where the bottom, I don’t see them hitting bottom anytime soon. I’d agree socratt, 5-7 years.

Even 2015 would be a 9 year drop, following a 1996-2006 10 year run up. Based on past bubbles, and the magnitude of this one that’s not out of the question.

[cr]

I think it was Calculated Risk who had a post a while back on what housing typcially does in a downmarket. Something along the lines of rapid depreciation (where we are now), slowed depreciation, flat, then slow increases.

TG you’re right prices won’t go the $0, but they certainly won’t hit bottom and start a rapid upturn. Just look at the macro factors right now.

Although the HUD has a $1 Home program, though who knows if any have or ever will go for that.

http://www.hud.gov/offices/hsg/sfh/reo/goodn/dhmabout.cfm

I personally am looking for 2000 prices. If they never get there, then I have to decide if I pay more than I want, or if I move.

But I regardless of where the bottom, I don’t see them hitting bottom anytime soon. I’d agree socratt, 5-7 years.

Even 2015 would be a 9 year drop, following a 1996-2006 10 year run up. Based on past bubbles, and the magnitude of this one that’s not out of the question.

[cr]

I think it was Calculated Risk who had a post a while back on what housing typcially does in a downmarket. Something along the lines of rapid depreciation (where we are now), slowed depreciation, flat, then slow increases.

TG you’re right prices won’t go the $0, but they certainly won’t hit bottom and start a rapid upturn. Just look at the macro factors right now.

Although the HUD has a $1 Home program, though who knows if any have or ever will go for that.

http://www.hud.gov/offices/hsg/sfh/reo/goodn/dhmabout.cfm

I personally am looking for 2000 prices. If they never get there, then I have to decide if I pay more than I want, or if I move.

But I regardless of where the bottom, I don’t see them hitting bottom anytime soon. I’d agree socratt, 5-7 years.

Even 2015 would be a 9 year drop, following a 1996-2006 10 year run up. Based on past bubbles, and the magnitude of this one that’s not out of the question.

[cr]

I think it was Calculated Risk who had a post a while back on what housing typcially does in a downmarket. Something along the lines of rapid depreciation (where we are now), slowed depreciation, flat, then slow increases.

TG you’re right prices won’t go the $0, but they certainly won’t hit bottom and start a rapid upturn. Just look at the macro factors right now.

Although the HUD has a $1 Home program, though who knows if any have or ever will go for that.

http://www.hud.gov/offices/hsg/sfh/reo/goodn/dhmabout.cfm

I personally am looking for 2000 prices. If they never get there, then I have to decide if I pay more than I want, or if I move.

But I regardless of where the bottom, I don’t see them hitting bottom anytime soon. I’d agree socratt, 5-7 years.

Even 2015 would be a 9 year drop, following a 1996-2006 10 year run up. Based on past bubbles, and the magnitude of this one that’s not out of the question.

[cr]

I think it was Calculated Risk who had a post a while back on what housing typcially does in a downmarket. Something along the lines of rapid depreciation (where we are now), slowed depreciation, flat, then slow increases.

TG you’re right prices won’t go the $0, but they certainly won’t hit bottom and start a rapid upturn. Just look at the macro factors right now.

Although the HUD has a $1 Home program, though who knows if any have or ever will go for that.

http://www.hud.gov/offices/hsg/sfh/reo/goodn/dhmabout.cfm

I personally am looking for 2000 prices. If they never get there, then I have to decide if I pay more than I want, or if I move.

But I regardless of where the bottom, I don’t see them hitting bottom anytime soon. I’d agree socratt, 5-7 years.

Even 2015 would be a 9 year drop, following a 1996-2006 10 year run up. Based on past bubbles, and the magnitude of this one that’s not out of the question.

[jpinpb]

Question – Is waiting for the price of homes to adjust worth the wait when weighing in the fact you will be paying rent during the time you’re waiting. If we factor in the rent being paid all these years, probably would make more sense to buy a place sooner, before it got to bottom b/c whatever loss incurred will be canceled by the rent that would’ve had to have been paid anyway.

[jpinpb]

Question – Is waiting for the price of homes to adjust worth the wait when weighing in the fact you will be paying rent during the time you’re waiting. If we factor in the rent being paid all these years, probably would make more sense to buy a place sooner, before it got to bottom b/c whatever loss incurred will be canceled by the rent that would’ve had to have been paid anyway.

[jpinpb]

Question – Is waiting for the price of homes to adjust worth the wait when weighing in the fact you will be paying rent during the time you’re waiting. If we factor in the rent being paid all these years, probably would make more sense to buy a place sooner, before it got to bottom b/c whatever loss incurred will be canceled by the rent that would’ve had to have been paid anyway.

[jpinpb]

Question – Is waiting for the price of homes to adjust worth the wait when weighing in the fact you will be paying rent during the time you’re waiting. If we factor in the rent being paid all these years, probably would make more sense to buy a place sooner, before it got to bottom b/c whatever loss incurred will be canceled by the rent that would’ve had to have been paid anyway.

[Author]

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