[golfproz]

That’s gonna be a good article when all the parts are finished. As a homeowner who bought my first place in 88 I remember the buzz and all the talk. Very similar to what’s was happening in this bubble. I watched my home soar in value it went up 40% in the first 6 months I was in it. It nearly doubled in price by 1990. Many of my neighbors refi’d and pulled out cash for cars, pools and stupid stuff like one hot young wife that just had to have a boob job.

Then slowly the market turned and I watched the foreclosures start and the for sale signs started to pop up everywhere. It took 2 or 3 years but lots of folks lost thier homes, the neighborhood went to hell and the homes went right back to the 1988 values and stayed there for several years.

This is like Dejavu, only this time I’m waiting for after the crash to buy. The big difference this time is the amount the homes have shot up. They did not go nearly as high last time (at least not in my area). I still think they will come back down to prebubble levels or close to it. But like the last time I fully expect it to take a few years to happen.

[golfproz]

I’ve got my eye on some new homes currently selling in the Mid 800s. They have a couple in the last phase that they have been trying to unload for several months at 75K off with no luck ( one since Jan). I’de be willing to pull the trigger in the mid 500s but any more than that I’ll be looking elsewhere or staying put in my started shack that I only owe 70K on. Homes this size in this area were selling in the high 400s in early 2003, so I don’t think mid 500s is out of the question. I’m patient and can certainly afford to wait.

[golfproz]

I’ve got my eye on some new homes currently selling in the Mid 800s. They have a couple in the last phase that they have been trying to unload for several months at 75K off with no luck ( one since Jan). I’de be willing to pull the trigger in the mid 500s but any more than that I’ll be looking elsewhere or staying put in my started shack that I only owe 70K on. Homes this size in this area were selling in the high 400s in early 2003, so I don’t think mid 500s is out of the question. I’m patient and can certainly afford to wait.

[golfproz]

4.5%, which just about covers my gas now that it’s $3.69 a gallon…….

[golfproz]

4.5%, which just about covers my gas now that it’s $3.69 a gallon…….

[golfproz]

I recently converted to the Church of Flyingtology, Pastor Aileron Hubbard.

[golfproz]

I recently converted to the Church of Flyingtology, Pastor Aileron Hubbard.

[golfproz]

Relax, grab a beer, and let the crash happen. Anyone who was here for the last crash can tell you that it’s a SLOOOOOW process. I bought in 88, saw my place double in value in 2 years and then drop 50% over the next 5 years. Now it’s gone and quadrupled in value from the last low. I fully expect it to drop 50% again this time around. But I’m sure it will take a few years.
I wish the crash would speed up since I am looking to get a new place. I just can’t bring myself to drop 800K on a tract home on a postage stamp lot.

[golfproz]

Relax, grab a beer, and let the crash happen. Anyone who was here for the last crash can tell you that it’s a SLOOOOOW process. I bought in 88, saw my place double in value in 2 years and then drop 50% over the next 5 years. Now it’s gone and quadrupled in value from the last low. I fully expect it to drop 50% again this time around. But I’m sure it will take a few years.
I wish the crash would speed up since I am looking to get a new place. I just can’t bring myself to drop 800K on a tract home on a postage stamp lot.

[Author]

Posts