Housing Price Delcine (Revised) - Democratic Underground

unlawflcombatnt

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Thu Jan-05-06 01:16 AM
Original message

Housing Price Delcine (Revised)

Here's a partial exerpt from a December 16th article from CNN showing anticipated price declines in both 2006 and 2007.

The article can be found at Is the party over

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cliss

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Thu Jan-05-06 01:46 AM
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1. According to recent articles,

the real estate market started a downturn in October of last year. It's starting to pick up steam. I think the figures up above are generous.

I think it's going to be worse than that. Sorry for being pessimistic, but the bubble is ridiculous right now:smoke:

Thankx for posting.

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Skink

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Thu Jan-05-06 02:09 AM
Response to Reply #1

2. I love San Antonio.

Just wish I could afford to buy a house.

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unlawflcombatnt

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Thu Jan-05-06 04:06 AM
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4. Bubble

I agree with you. I think the numbers I posted from CNN Money are overly cautious about the true price decline that's coming up. I was just amazed that the real estate propagandists were willing to acknowledge any anticipated price decline. Up until now, most were falsely claiming that price appreciation might slow down some. Now some are willing to go as far as saying prices will decline. Eventually they'll get around to acknowledging that prices will decline a lot.

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Neil Lisst

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Thu Jan-05-06 02:20 AM
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3. Top end homes are the canary in the mining cave

And they are dropping right now.

I have a friend who just lost 100 grand on his home. He had 600K in it, and sold it for 500K, after having it on the market almost a year. Then he turned around and paid 700K for a home the owner had 850K in. It had been on the market over a year.

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