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A Record Drop In Home Prices
Washington Post ^ | October 26, 2006 | Kirstin Downey

Posted on 10/26/2006 12:53:25 PM PDT by GodGunsGuts

The price of existing homes last month fell 2.2 percent, the largest monthly decline in the almost four decades the number has been tracked, according to an industry report released yesterday.

Nationwide, the number of existing single-family homes sold fell 14.2 percent in September compared with September 2005, according to the report from the National Association of Realtors. The number of sales has fallen each month since March.

Prices fell everywhere in the country, with the Northeast and West most affected. Declines were more moderate in the South, which includes the Washington area....

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Business/Economy
KEYWORDS: bubble; bubblebrigade; depression; despair; doom; frbubbleheads; gggsalesman; goldsalesman; miserytonight; realestate; tinfoil
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To: GodGunsGuts
He who never takes a position speaks again...

The bolded text is a lie. I take all kinds of positions on all kinds of topics.

281 posted on 10/28/2006 4:40:00 PM PDT by Petronski (CNN is an insidiously treasonous, enemy propaganda organ.)
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To: GodGunsGuts; Toddsterpatriot
In #114 in this thread, another Freeper identifies another one of your lies.
282 posted on 10/28/2006 4:43:04 PM PDT by Petronski (CNN is an insidiously treasonous, enemy propaganda organ.)
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To: Petronski

Then why do you keep posting that all my positions amount to "goldbuggery." My positions are sincerely held, and I am not trying to advertise or "pimp" gold. I wish I had more time, but I really do have to go. Have a good evening (really!).


283 posted on 10/28/2006 4:43:26 PM PDT by GodGunsGuts
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To: GodGunsGuts
My positions are sincerely held, and I am not trying to advertise or "pimp" gold.

That's simply not credible.

284 posted on 10/28/2006 4:47:31 PM PDT by Petronski (CNN is an insidiously treasonous, enemy propaganda organ.)
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To: GodGunsGuts; Petronski
As we discussed previously, one big reason for the large increase in San Diego home prices is because as that area grows the commute times from distant suburbs are getting unacceptably long for many people: 1-2 hours each way to drive in from low-cost suburbs over 30 miles from the city. Those long commute times are making the houses in the city itself much more valuable than they were 15+ years ago. But San Diego is an unusual city because its growth is totally restricted on the west by the Pacific ocean and on the south by the Mexican border. So it can only grow out to the north and east and that kind of growth is putting the surounding suburbs a long way out. Some of those Northeast suburbs along I-15 are over 60 miles from downtown San Diego. So you can't draw any conclusions about the entire country from San Diego's home prices.

If you look at cities like Dallas or Atlanta that can grow out in all directions you don't see such long commute times and such high housing prices in the city itself.

285 posted on 10/28/2006 4:52:08 PM PDT by defenderSD (Blogging from a secure, undisclosed location in the southwestern United States.)
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To: GodGunsGuts

I accept your assertion that your positions are sincerely held, but I think there's also a fairly high probability that you are a Democrat trying to make people worry about the economy and pull swing voters away from the GOP. There's nothing unethical about doing that if the mods think your posts are acceptable, and I think that's probably what you're trying to do here.


286 posted on 10/28/2006 4:57:44 PM PDT by Patriot_from_CA (You know television is getting bad when the best show on any channel is "Sabado Gigante.")
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To: nopardons
ilk? pet? yup.. more name calling, typical. and your mention of the Bronx is new.. prior statements were of Manhattan. forget which stop you camp at?

as an fyi, if you were to properly contend that my statements were inaccurate, then you would show a 10 year study of population growth/decline along with real estate prices in the northeast (which includes, PA,MD,VA,NY,CT,RI,MA,NH,VT, and ME... not just a few blocks in NYC). I could easily show plenty of stats of the population boom in FL since 1995, along with real estate numbers matching my statements. Considering all the newspaper reports in FL over the passed 10 years, I'm guessing its up to you do present your 'facts'. doubt you will.

as for the response to your posts attracting nothing but negative responses, I'm guessing that happens in your real life as well. if you cannot behave civilly on a web post, then i doubt you behave any differently in every day life. of course, maybe you do.. for fear of getting a smack across the chops for wising off to the wrong person.

287 posted on 10/28/2006 6:25:10 PM PDT by sten
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To: nopardons

Are you a drunk?

There must be some reason for your bizarre claims. You twisted Kindleberger 180 degrees, and did it by editing his writing.


288 posted on 10/28/2006 7:35:34 PM PDT by Pelham (A Nation of Guest Workers)
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To: sten
Please get someone to read you my posts # 244 and #268, since it is becoming patently obvious that you are incapable of reading them with any kind of comprehension, on your own.

"ilk" and "pet" aren't "name calling". I suggest that you enroll in some night classes for remedial English classes.

You haven't "presented" any charts, facts, nor newspaper articles, but you are demanding that I do? And WHY for just Florida...because you've lived there for a bit? LOL

I have lots of friends on FR, I hardly ever get posted "negative replies" and when I do, it's from KOOKS.

I took a quick look at some of your past posts and from questioning dougfromupland's FACTS, to much of the same kind of drivel you have posted to me, you have some sad record here!

Your projection complex problem is astounding. Go get some help and if you can't afford to pay for it, there are free clinics; even in Florida.

289 posted on 10/28/2006 9:47:45 PM PDT by nopardons
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To: Pelham
The last resort of someone who has been cornered, is to call another person a "drunk". Congrats on proving that you have nothing to add to the thread.

I made no "bizarre claims". I not only quoted Kidleberger, right out of his book, I didn't cherry-pick at all; unlike you, who have already, on this thread, admitted that you twisted his words.

290 posted on 10/28/2006 9:50:47 PM PDT by nopardons
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To: nopardons
i realize i shouldn't feed the trolls but ...

"ilk" and "pet" is name calling, unless someone has the name "ilk" or "pet".

as for why would I show stats on FL? because that is what I was talking about... or did you fail to grasp that?

as for negative replies... just look at this thread alone for the response you receive.

as for doug's comments on hillary, i had never seen any articles linking her to a child-prostitution ring and i requested the link. if that is questioning, then get over it.. doug had no problem.

as for the professional help.. that's what you new yorkers are always clamoring for, isn't it?

as for more details...

[ manhattan prices dropping ]

The report notes that while New York's average apartment sales price of nearly $1.1 million was 4% lower than the third quarter of 2005, the average size of the apartments sold during this time was 3% smaller from the year before, possibly accounting for much of the drop in sales price. Similarly, the average condo sale price fell 6% from the year before to almost $1.2 million, but a 5% drop in the average size of condos sold may account for some of this drop. Meanwhile, the average cost of Manhattan apartments and condos per square foot both rose, with the average price per square foot for apartments rising 6% from the year before to a new record of $1,028, and the average price per square foot for condos increasing 2% to $1,108.

as for Florida numbers, browse [ here ]

let's see if you do more then call me names this time.

291 posted on 10/28/2006 11:55:47 PM PDT by sten
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To: Pelham

i'm guessing he is just a troll. i have noticed a few names keep doing the same thing. i often wonder if they are the same person.


292 posted on 10/28/2006 11:57:31 PM PDT by sten
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To: sten
You are the one who is the troll and you are also the one who is not only a liar, but who has almost no short term memory.

Yes, you mentioned Florida; but, you also talked about ALL of the Northeast as well. I suggest that you go back and read ALL of your posts to this thread.

293 posted on 10/29/2006 12:04:49 AM PDT by nopardons
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To: defenderSD
You are undoubtedly correct that one must pay a high premium to live in San Diego. But the fact that rents have not kept pace with home prices (by a large margin) suggests that home prices have gotten significantly ahead of that premium. No matter which way you slice it, all the numbers suggest that San Diego housing is substantially overvalued:

http://piggington.com/bubble
294 posted on 10/29/2006 9:08:25 AM PST by GodGunsGuts
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To: Patriot_from_CA
So if one is bullish on gold and bearish on housing you suspect them of being a demorat? Or if someone wants tax cuts *and* spending cuts, you suspect them of being a demorat? Or if someone is opposed to doing business with Communist countries (such as Red China), you suspect them of being a demorat? Or if someone encourages our government and our citizens to get out of debt, you suspect them of being a demorat? Or if someone opposes Russia for aiding our enemies, you suspect them of being a demorat? Or if someone is opposed to federal involvement in public education, you suspect them of being a demorat? Or if someone is opposed to the UN because it was started and continues to be dominated by Leftists and Communists, you suspect them of being a demorat? Way to go...you're batting a thousand!
295 posted on 10/29/2006 9:20:27 AM PST by GodGunsGuts
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To: Nathan Zachary

"The price of existing homes last month fell 2.2 percent, the largest monthly decline in the almost four decades the number has been tracked."

Could that be because they were unreasonably over priced to begin with?


296 posted on 10/29/2006 9:31:13 AM PST by TET1968 (SI MINOR PLUS EST ERGO NIHIL SUNT OMNIA)
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To: Torie
Found the chart I was looking for. In addition to San Diego, it would appear that the rest of So. Cal. housing is significantly overvalued as well.


297 posted on 10/29/2006 9:33:11 AM PST by GodGunsGuts
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To: TET1968

Not to begin with, but over the last five years or so...BINGO!


298 posted on 10/29/2006 9:34:34 AM PST by GodGunsGuts
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To: GodGunsGuts
I'm no mathematician, but that just seems so unstable.
299 posted on 10/29/2006 9:39:11 AM PST by RockinRight (Maintaining a Republican majority is MORE IMPORTANT than your temper tantrum.)
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To: RockinRight

Yep, in a few years there are going to be some excellent buys in So. Cal., and elsewhere.


300 posted on 10/29/2006 9:45:53 AM PST by GodGunsGuts
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