Falling prices trap new homebuyers

The Orange County Register ^ | December 13, 2006 | JEFF COLLINS

[GodGunsGuts]

Wednesday, December 13, 2006

Falling prices trap new homebuyers

Neighbors in a new Garden Grove tract say a developer's plan to slash prices by about $140,000 has left them owing more for their homes than they're now worth.

By JEFF COLLINS

The Orange County Register

[GodGunsGuts]

I took you up on your challenge. No reply. What gives?

[Nam Vet]

Democrats in Congress will have a plan for dealing with this.

Coffee out the nose and onto the keyboard on that bit of levity.

Nam Vet

P.S. Anybody who believes that bit of dim cr*p about all their so-called 'plans' has the I.Q. of a turnip.

[GodGunsGuts]

Actually, housing became so disconnected from fundamentals that it had no choice but to correct (inflation or no). Sure, housing is deflating, but I think the overall economy (that includes the global economy) is experiencing ever higher levels of inflation, as evidenced by traditional inflation indicators such as gold.

[Uncle Ike]

" P.S. Anybody who believes that bit of dim cr*p about all their so-called 'plans' has the I.Q. of a turnip. "

Hey!!

Turnips have feelings too, ya know!!

;~)

[GodGunsGuts]

PS I think we're headed for stagflation...and then years later, deflation.

[BurbankKarl]

Prices down 20% in some markets....it is getting ugly.

[bimbo]

You could see this coming from a mile away.

... but one had to have those eyes open.

[Enterprise]

Triple Ditto!

[Uncle Ike]

" PS I think we're headed for stagflation...and then years later, deflation. "

I'm not sure we can survive "stagflation" -- the economy, as it is now, is shored up by people spending money they don't have -- ie borrowed money. (Which doesn't exist -- a substantial part of 'modern' wealth is on paper only. Complicated by the fact that we've somehow lost track of the knowledge that "price" and "value" are *not* synonymous..)

Which works as long as things chug along just well enough that they can make their payments (mostly mortgage and consumer credit)....


Somebody (well, other than us) will eventually notice the emperor's lack of clothes, and then it all comes tumbling down....

[bimbo]

There will plenty of finger pointing (and worse) to go around before this is all over.

I can almost sense the in-coming Democrats looking for a way to spread the pain among all of us.

[Toddsterpatriot]

It is very hard to tell when some posters are lying.

Says the pot to the kettle.

[Fierce Allegiance]

Jerk, you say? Did you read my post?

[ex-Texan]

Time to Wake Up Calling Pedro for help again . . . "Tempo per svegliare e sentire l'odore del caffè." You are part of the problem. You are Not part of the solution.

[Toddsterpatriot]

Calling Pedro for help again

I don't need help to laugh at you, clown.

[Toddsterpatriot]

What's going on with your FTC complaint? They haven't contacted me yet.

[MeneMeneTekelUpharsin]

Prices down 20% in some markets....it is getting ugly.

Yes, I know.

[Petronski]

The jerk just ignores the fact that median prices just crashed $ 24,000 throughout the state. They just stick their heads in the sand, clinch their teeth and lie.

Fixed it.

[Petronski]

You are part of the problem. You are Not part of the solution.

[Fierce Allegiance]

Whi is the liar now? From: http://www.boston.com/news/local/rhode_island/articles/2006/12/10/a_look_at_housing_markets_in_the_six_new_england_states/

The median price fell less than 1 percent, to $285,000.

Clinch (sic) your teeth, liar boy!

[MonicaG]

...should read "Falling prices trap recent homebuyers."

LOL, I agree - from personal current experience!!