To: dakine
The Effect of a 10% Decline in Real Estate Prices Already in some sections of Northern California, real estate prices have gone down about 12% - 15%. I posted a report on FR about Florida house flippers taking losses of $ 50k - $ 80k recently on $ 300,000 houses and condos. There are reports from Boston about people lowering their prices more that 10%.
Get ready for the roller coaster ride of the century.
22 posted on
05/24/2006 10:20:07 AM PDT by
ex-Texan
(Matthew 7:1 through 6)
To: ex-Texan
Sold house 31 Mar...now renting...taking a wait and see attitude...but DC doesn't follow the norms...
23 posted on
05/24/2006 10:21:59 AM PDT by
dakine
To: ex-Texan
These statistics need to be scrutinized carefully. If prices have truly dropped, then have the assessed values also changed? Or has the AVERAGE SALE PRICE dropped? That is an entirely different thing.
28 posted on
05/24/2006 10:32:13 AM PDT by
TommyDale
(North Carolina looks forward to the disbarring of Mike Nifong.)
To: ex-Texan
Kind of interesting in my area now. The Iowa, Illinois Quad City area is in serious decline do to jobs leaving the area like rats off of a sinking ship. If you want to buy a house and never sell, great place to do it. If you plan on moving any time in the next 5 to 10 years, don't buy a house here.
Lots of houses on the markets, lots of developments that have stopped construction. Interesting times.
36 posted on
05/24/2006 11:07:58 AM PDT by
redgolum
("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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