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| waltman |
 Posted: Mon Apr 24, 2006 10:46 am Post subject: "The housing bubble has popped" article on MSN Mon |
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Investing Sr. Associate
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http://moneycentral.msn.com/content/P149596.asp
A typical doom-and-gloom type article with some interesting numbers. Might make you think twice before buying that "investment" condo in town just now... but then again you can always find people saying whatever you want to hear. |
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| pepe |
| Posted: Tue Apr 25, 2006 2:02 pm Post subject: |
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Investing Associate
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didn't I read the same article last year? 
Still waiting for that magic needle... |
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| frusnak |
| Posted: Tue Apr 25, 2006 2:26 pm Post subject: |
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CFO
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| Living in Florida has been a great learning experience for me as far as realestate goes. Since moving here in 1992 I have seen developers build communities where ever they could buy land and the politicians would let them build without concerns about the infrustucture to handle the increase in traffic, school over crowding and water shortages, just to name a few. The change in the last year has been "spec homes" (builder inventory), builders used to require a buyer before they would start constuction, now they are building far too many homes and flooding the market. The result is a softening of existing home values/sales. This is what I would consider to be the worst time to buy a home as a investment. If you want to buy a home as your primary residence, the opportunity is now. |
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| vetelmo |
| Posted: Tue Apr 25, 2006 2:32 pm Post subject: |
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Moderator
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Same thing here Frusnak only developers here bought land worth 107 million for only 10 million and made their supposed "fair value homes" double in price. I fathomy hate new home builders because of the racket thats going on nearby here. It's extremely fustrating to see that people can get away with it and laugh their asses all the way to the bank.
Sorry for any home owners out there, but I am going to be laughing my *** to the bank when I start buying foreclosed homes a few years from now. At least i hope so, lol! |
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| pepe |
| Posted: Wed Apr 26, 2006 6:06 am Post subject: |
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I hope so too. The situation seems the same all over California. Santa Clara county is actually down this year for the first time in the last 10 years. That has to say something. If the Silicon Valley leads the pack in the decline of home values the rest of the state and eventually the country will hopefully soon follow.
Things are stagnating in the Central Valley now as well where some parts have seen 150% appreciation over the last five years.
I think the thing that'll hurt those who have bought within the last couple years the most are the ARMs they'll be eventually not be able to afford the payments on. |
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| Dave Rathbun |
| Posted: Wed Apr 26, 2006 8:21 am Post subject: |
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CFO
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| ARMs are one issue, yes. But the folks I really feel for are the ones that got suckered in an "interest only" loan. They're so "up the creek" if the housing market turns south... |
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| frusnak |
| Posted: Wed Apr 26, 2006 1:11 pm Post subject: |
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CFO
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Yeah, what a play on them so the developers could sell their over priced homes. I feel for the people starting out who want to buy their first home!  |
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| pepe |
| Posted: Wed Apr 26, 2006 1:12 pm Post subject: |
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| frusnak wrote: | | Yeah, what a play on them so the developers could sell their over priced homes. I feel for the people starting out who want to buy their first home! |
no need to feel bad for us... we're just waiting to pounce  |
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| Mun_Dhruv |
| Posted: Wed Apr 26, 2006 2:02 pm Post subject: Re: "The housing bubble has popped" article on MSN |
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| waltman wrote: | http://moneycentral.msn.com/content/P149596.asp
A typical doom-and-gloom type article with some interesting numbers. Might make you think twice before buying that "investment" condo in town just now... but then again you can always find people saying whatever you want to hear. | |
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| vetelmo |
| Posted: Wed Apr 26, 2006 8:28 pm Post subject: |
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Moderator
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| pepe wrote: | I hope so too. The situation seems the same all over California. Santa Clara county is actually down this year for the first time in the last 10 years. That has to say something. If the Silicon Valley leads the pack in the decline of home values the rest of the state and eventually the country will hopefully soon follow.
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I know I will get disagreements on this one but in my opinion California is the market that starts the trends up or down for the rest of the country. Though that could change.....
I have lived in Santa Clara county for many many years. The main reason the there is a problem there is because of so many tech jobs went overseas. Just as an example, when my mother started at Portal Software (they just got bought by Oracle), she started supervising about 30 people and since then, there is not one single person left here in the states, those positions all went to India, Hong Kong, Japan and England.
Personal I feel that the "new home" market will be the blame for the bubble popping |
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| DKnightSr |
| Posted: Wed Apr 26, 2006 9:26 pm Post subject: |
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Member of the Month
May
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| pepe wrote: | | frusnak wrote: | | Yeah, what a play on them so the developers could sell their over priced homes. I feel for the people starting out who want to buy their first home! |
no need to feel bad for us... we're just waiting to pounce |
pepe- I like your outlook. You my friend have exactly the right attitude. Just like the stock market, in the housing market something is always going up or coming down. Ya' just gotta decide which side of the market you want to play... buy or sell.
Good for you pepe- Make your move on YOUR time schedule, and let us know when it happens. I'm betting you do just fine.
I do have to concur on one point though with Mr Frusnak. With the high prices of homes these days, I feel sorry for those starting out ONLY because of the high "first time down payment" and closing costs. That has GOT to be tough when you're just starting out. |
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| CJ. Wentworth |
| Posted: Thu Apr 27, 2006 3:54 am Post subject: |
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Investing Sr. Associate
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| I'm assuming that's an article for the States, here in Australia we've had an enormous boom that ended about a year ago, but it was mainly the cities that had the booms and the ripple effects are still gettingn out into the country |
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| vetelmo |
| Posted: Thu Apr 27, 2006 2:27 pm Post subject: |
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| The top ten most expensive zip code, 7 of them were in California and 4 of the top 5.... |
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