Housing Armageddon: We Are In The Midst Of The Worst Housing Collapse In U.S. History

The Economic Collapse ^ | 2-2-2011

[Varsity Flight]

They knew this, along with the lobby groups who are/were associated with, and who benefited from, the fraud MBS fine print carpetbagging peddlers.

And watch who’s sponsoring alot of the televised media “show.” They don’t seem to be hurting with all those millions for their advertising do they?

This is what Vampire-care is/was all about all along. Any time leveraged bailout on the backs of the individual by the Beltway D. Gang, at the expense of everyone else. While they get exempted!!

[Antoninus]

And the worst part is, as housing values go down in our area, property taxes continue to skyrocket.

It can't go on like this...

[kearnyirish2]

I think you’d find in NJ that just about everybody has a family member and/or friend on the public payroll in some way or other; some private taxpayers have just voted with their feet after a fruitless struggle that has dragged on for decades.

Well done for your town!

[April Lexington]

Yo, Blam! Wanna know what happens next? Millions of Chinese “middle class” people show up with cash and buy those homes. The colonization of America begins...

[hennie pennie]

Be sure to call up your home insurance agent and inquire what the price of house insurance will be when/if you rent out the place — the different between owner-occupied and rented out home insurance may shock you.

[April Lexington]

Do nothing and allow the market to correct itself.

Agreed. Historically, housing should cost about 25% of your income. It was way, way out of whack at pre-bust prices. Home prices must reflect the home owner's ability to pay. And... with downward pressure on incomes, Housing prices will fall. Like it or not... unless a bunch of people with new money show up in the market. Like the new "middle class" Chinese... then, Americans are the new global poor...

[blam]

"Yo, Blam! Wanna know what happens next? Millions of Chinese “middle class” people show up with cash and buy those homes. "

That's better than Middle-Eastern Muslim desert monkeys.

[blam]

Bet On Foreclosure Boom Turns Sour For Investors

[Southack]

Falling home prices and falling salaries is called: DEflation.

That’s when your dollar buys more house, and it’s when an employer can pay employees less.

Watch housing prices to see where we are going: up or down.

[NeoCaveman]

Were you calling the double didgit housing price increases of a few years ago inflation?

[Southack]

We have deflation now.

[NeoCaveman]

You didn’t answer the question.

[Southack]

You didn’t ask anything relevant.

[WashingtonSource]

bump

[CodeToad]

“Millions of Chinese “middle class” people show up with cash and buy those homes.”

We were recently in the market trying to buy a house. We got beat twice by Chinese cash.

[ctdonath2]

OWN land, not this rent-to-own mortgage crap.

[Marty62]

I wonder how many spent thousands thinking they were making a down payment on a home, only to find they couldn’t get financing and lost the money.
I agree, it was just another scheme.

[RipSawyer]

In other words the beatings will continue until morale improves.

[Lancey Howard]

Wow. Savvy people with wherewithall and patience have an incredible opportunity to make a fortune. Probably the way to go would be to scoop up real estate cheap, rehab cheap, and rent cheap. If grownups get put back in charge of our government and things turn around in ten years or so, cash in and retire.

[familyop]

"Hopefully housing prices don't have too much farther to go down."

Heh. Watch 'em after the repudiation of debt. That'll be a few years, but it'll really be somethin'.