“Underwater homeowners...”
Must be because of global warming.
One lie after another by the feckless fool on the hill and his lying minions.
Real estate and housing is a commodity like precious metals, grains, oil and equities.
The markets have their winners and losers.
It up to the individual to make the right buying and selling decisions.
Interesting discussion, links at zh. Thanks for posting.
I’m currently prepping my house to put it on the market. Where I live, houses have appreciated quite a bit in the last couple of years. I would have definitely lost my shirt about 5 years ago though.
Did Tyler Durden put that comment in the article, or someone else?
A homeowner is only underwater if they have to or want sell right now and the value is less than the owe the bank. If you intend to stay in your home for the next 10, 20 or 30 years it does not matter what the value is right now.
A home is an investment you live in. There is value in that.
The biggest problem is banks are lending money to people who have no means to pay them back.
In the Obama economy, underwater is the new norm.
Wonder what the percentage of CAROWNERS are underwater.
Even cash buyers are I bet. Boo Hoo.
Zillow seems to be undervaluing homes on a grand scale.
—— housing starts cratered 17% in February——
during which at least 25% of the American 48 states were covered in snow and in many places commerce in general was either stopped or slowed
The Zillow statement is foolish
It is going to be tougher getting out from underwater with Obamajobs and Obamacare leading the economic parade.