Posted on 11/30/2010 9:13:55 AM PST by SeekAndFind
Case-Schiller's September housing report came out worse than expected, confirming to any doubters that the housing double dip is here.
National home prices dropped 1.5% in September.
The new data will worsen Case-Shiller's already bearish outlook for the housing market. Earlier this month, it forecast a 7.1 percent drop in prices from Q2 '10 to Q2 '11, with price stagnation through Q2 '12.
This is a brutal forecast, which would have wide economic consequences. Five years after the housing peak, markets in Florida, Nevada and California would remain down around 60 percent.
(Excerpt) Read more at businessinsider.com ...
Nashville is the capital of TN, which is the one place in most states getting the least drops. Also lots of houses were washed away in the big flood earlier this year, so some replacement is in order.
Spring Hill got killed by the closing of the GM plant.
http://www.chicagobreakingnews.com/2010/11/path-to-citizenship-beckons-cash-to-mchenry-county.html
In return for kicking in $500,000 apiece, foreign investors in the project would jump to the head of the nation's often-tangled line for legal immigration and win a route toward U.S. citizenship for themselves and their families.
“#4 Ocean City, NJ”
I blame “The Jersey Shore” TV show.
Lassen College in Susanville, CA also has a gunsmithing school.
i’m not sure if the gunsmithing school in Trinidad, CO is affiliated with a college.
Leave Snooki alone!! :^)
You don't have much experience in the commercial real estate business, do you? Do you understand the difference between gross and net income? CRE investment does provide interesting tax advantages (the purchase price can be amortized over the economic life of the property, deferring income tax liabilities), but I think it is safe to say that the operating expense of a single family property (real estate taxes, insurance, maintenance and repair) exceeds $400 per month. Therefore, the real cap rate is more like 3% or 4% rather than 8% in your example.
What will our dollar be worth in 2012?
RE: If they buy at $100,000 and the value further depreciates to $75,000, and there is no one around to rent them; just how good of an investment is it?
These Chinese investors are betting that now is the time to buy (as a smart investor once said, the time to buy is when people are panicking and there’s blood on the streets). A $100,000 house would have been worth close to $200,000 just two years ago and these guys are betting it won’t go much lower.
The arc of the Vegas housing market is (not surprisingly) tightly related to hires and fires in the Leisure & Hospitality industry. These Chinese buyers are probably betting that it’s bottoming out and improving.
Time will tell if it was a smart or foolish move.
RE: What will our dollar be worth in 2012?
I’d closely watch the price of Gold or Silver, that’s where the market signal is.
>>the only community college I know of with a gunsmithing school.<<
I think there’s one in Susanville, CA
Would you rather have some cannibalistic tribal monkeys from Somalia or wealthy businessmen from South Africa immigrating into the US??
Killer! You just killed that man’s dream.
I’m hoping the Chinese are right, that we have bottomed out and will start climbing out.
Locally I have watched over the past three weeks two houses in what appears to be the beginning of a new developement being built. From ground up to include fencing. They must have had a crew of close to 30-40 from what I could see. Hopefully that crew was 30-40 of our citizens currently out of work rather than illegals.
Anyway, first new construction I’ve seen in over two years.
The current gold price is not an indicator of what it will be in two years.
...Killer! You just killed that man’s dream....
Sorry, I was a bit harsh. I’m not certain why I assume the burden of injecting some degree of rationality to this board. It’s a thankless task.
On average, a house in Vegas that was priced at $200,000 at the peak would be worth less that $90,000 today.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.