Posted on 11/20/2006 11:25:43 AM PST by Toddsterpatriot
In our San Francisco Bay area county -- the bubble remains fully inflated..
Santa Clara County: Median price of Single Family Home:
Sept 06.........$769,000
Aug 06...........$770,000
Sept 05.........$733,000
Location, location, location.....
Semper Fi
$2,000,000>$500,000.
rb22982 wins.
Yep, totally meaningless. We have no details at what happened. I have seen ex-Texan's examples many times, and there is always crap in the details he leaves out. He could actually have a tragic case here, but it would be the first. I am sure there are. In the $10 Tillion worth of appreciation in housing over the last 5 years, there probably are many tragic stories buried among the hundred of million success stories.
It also means ther person who bought their house two years ago, saw a 16% rise followed by a 1.2% decline made 292% on his or her investment.
Entry level and median home price buyers have been thrown under the bus by developers here in Seattle. Every condo or housing project going on right now is 500K+ starting price. The only prices less than that are apartment conversions to condos which are a total joke. The salaries in this city can no way justify the market we have now. Its becoming a market based solely on speculative investment/2nd home buyers and flippers.
Big part of the population have been completely priced out of the market or have to go live out in the middle of nowhere.
what was the month to month fall....that is the question...some of these areas were still rising from last year.
>>>Home prices also dropped: The realtors' survey showed that the midpoint price for an existing home sold during the summer dipped 1.2 percent year over year to $224,900. Some 45 metropolitan areas saw home prices decline.
In Britain the government is warning of a 40% fall in home values. We will be sure to follow once the ball gets rolling.
No they aren't.
I just read the article on FR last week.
"The only saving grace is Maine is the most beautiful place on earth. We live on the coast and the beauty will take your breath away."
It's pretty nice here where I live. :)
People wonder why the GOP got cleaned in Ohio. Taft and co. were running the place in the ground, as your post would illustrate. Taft is a complete moron who did a lot of harm to the GOP. The RNC really needs to be a little more careful about which candidates are groomed for important roles.
The government asked banks to stress test their portfolios to see how safe each bank was. It was not a prediction or a warning.
A very misleading title and a very misleading spin job by the poster.
You read incorrectly.
BANKS in the UK have been ordered by financial regulators to assess how they would cope in the event of house prices crashing by 40 per cent.
Running a sensitivity analysis is a lot different then predicting a decline.
We sold our house in soviet WA state last February to a couple of liberals and got twice what we paid for it. Now the market for houses is down there and they are stuck with the overpriced house. Man, it is fun to stick it to liberals!!!!
"Apparently, you pay an $800k premium for the privilege to live in a place prone to earthquakes, infested by liberals, with insane traffic, smog, and overrun by illegal aliens who can't speak English."
Bingo. I never saw the attraction. I spent 2 years in San Diego and was unimpressed. Here, we have seasons, which I could never give up. Especially a fall hike through the metro parks, (I live very close to one of them).
As my dear departed dad used to say: "California, land of the fruits and the nuts!"
And you can probably thank the socialists running Seatle making it impossible for a developer to do a decently priced development. By the time you meet all their requirements and jump through all the hoops, you have to build $500K units to break even.
I get as sick of snow and cold weather as the next guy, but the ONLY asset of California is the climate. THAT'S IT.
Where are these boomers going to move to? They have to live somewhere. And what bank requires 25% down. If you have 5% down, banks are jumping with joy.
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