The Real Estate Bust Continues

American Chronicle ^ | 10/26/2006 | Alex S. Gabor

[ex-Texan]

You guys are getting more desperate by the minute:

[GodGunsGuts]

That's slimy and uncool. If you had a website, I'm quite confident ex-Texan wouldn't respond in kind. He has been doing his best to get the word out on the housing bubble, encouraging people to avoid risky loans if they can't afford it, not to mention educating people on a whole host of very important conservative issues.

[Toddsterpatriot]

That's slimy and uncool.

Pimping a blog on FR for personal profit? I agree.

He has been doing his best to get the word out on the housing bubble

Yeah, for the last 3 years.

[Toddsterpatriot]

Sorry, I'm not desperate enough to buy gold.

[SaltyJoe]

We're all just renting space in this lifetime. It's best to make it simple...like these soldiers living in their container homes.

[Petronski]

Yeah, for the last 3 years.

Working on a fourth year.

[ex-Texan]

Both pedro and Toddler are living examples the post hoc ergo propter hoc fallacy.

[GodGunsGuts]

Great link. BTW, how do you create a link like that (where you type in what you want the hyperlink to say)?

[Petronski]

You don't even know what you're saying.

[ex-Texan]

You use HTML code like this, closing the < > marks:

< i > < a href =http://en.wikipedia.org/wiki/Post_hoc_ergo_propter_hoc >http://en.wikipedia.org/wiki/Post_hoc_ergo_propter_hoc < /a>< /i>

Play with the coding yourself. Copy my post then test your HTML code until you see it work.

[GodGunsGuts]

It's not working for some reason. Is there a quick link that will show me how to do this step by step???? Thanks--GGG

[bruinbirdman]

"Home buyers don’t want to buy in a falling market and because they cannot sell their old homes may sit on them for a while as the market wrings out the trillions of dollars of loans "

Existing home values. Hmm. Mine went up in the last week, 98% since I bought it 6 years ago.

To find the value of your house go to the website that has about the best home value data base I have ever seen.

Good satellite zoom to roof top photos.

http://www.zillow.com/

yitbos

[green iguana]

http://www.freerepublic.com/focus/f-news/1555762/posts

The HTML Sandbox...

[GodGunsGuts]

Thanks a bunch!--GGG

[poobear]

Thanks for posting this, but after reading it I need a shower.

[thinkthenpost]

I believe the market downturn is probably real (with the expansions at Fort Bliss going on El Paso's market has nowhere to go but up even with Texas' runaway property taxes). I am sure you can cherry pick areas that are still good, and areas that are very bad bottom line for me is, I just don't believe the end of the world market cratering stuff from some folks. That having been said, the house flipping boat has sailed, she's a couple of years too late IMO. I hope she doesn't get stuck with a couple of houses on her hands, a poor market and loans that are disadvantageous to her.

[RobRoy]

1. All real estate is local. Many markets are overvalued and will decline but many are still increasing

True, many are still increasing - So far. I am waiting for next April to see just how bad this will get.

2. Long term - The American population is still growing. We will have another 100 million within 25 years. They will want housing

That was true in 1970 as well. It didn't keep prices from plummeting. People will always want tulip bulbs. It doesn't mean each one should cost as much as a small farm. Eventually people figure that out and down goes the price.

3. Banks are making loans they never used to due to the packaging and selling of mortgages (including sub-prime) on the market due to Fanny Mae. This has to stop.

It looks like it is going to stop, in a very painful way.

[RobRoy]

>>Repeat a LIE often enough and it will becomes true...Is that the socialist scheme here!??? hmmm<<

I agree. Same can be said of the truth. Which would you say this is. Please support your answer.

Use extra paper if necessary.

[RobRoy]

>>anyone who was staring at an impending ARM reset and didn't take out a fixed rate mortgage pretty much is going to get what they deserve.<<

Assuming they could...

[RobRoy]

>>They are liberal schmucks. Doom & Gloom types trying to slap the "Bush economy" in the face.<<

You err in your presumption that this is an attack on Bush. I am a strong supporter of Bush, but this cannot be ignored, regardless of who is POTUS at the time.