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Housing Market Now in Depression Clames CNBC

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posted on Jan, 11 2011 @ 04:01 PM
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November marked the 53rd consecutive month (4 ½ years) that home values have fallen.

What's worse, it's not over yet: Home values are expected to continue to slide as inventories pile up, and likely won't recover until the job market improves.


finance.yahoo.com...

Wow someone has the balls to start talking like it is. They say homes will lose value for the next 2-3 years. Its not over folks. get ready for the double dipper. buy gold, silver, guns, ammo, and seeds. get with the family and make up a meeting point if TSHTF when you are all apart.

get ready!




posted on Jan, 11 2011 @ 04:08 PM
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This is a double whammy- here is why.

Because RIGHT NOW the States are appraising the values of tons of real estate WAY above where it should be based on depressed market values.

WHY?

So they can charge higher property taxes!

They did this to some people I know of already, their property appraisals increase while the retail value drops.

If you own land tell us what is going on from your neck of the woods, thanks.



posted on Jan, 11 2011 @ 04:12 PM
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Really? You get a villa in the states for audi money. And it depends which audi, if we are talking top of the line, you can trade in your cars for 2 villas. How much lower can it get?



posted on Jan, 11 2011 @ 04:43 PM
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reply to post by muzzleflash
 


Im lucky. my county dropped my property tax by 1,000 bucks last year.

At least there are a few good people left not trying to rape there fellow man



posted on Jan, 11 2011 @ 04:46 PM
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Like anyone needs a so-called expert to see what is going on..
The current government is designing a system that fails, it should be easy to see by now even to the most unaware in society.



posted on Jan, 11 2011 @ 04:47 PM
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Im getting pretty psyched about this.

At the rate this is going prices are going to drop so low and I'll have saved so much cash on hand I'll be able to pay cash for a house.

Just in the past month Ive seen the houses Ive been watching cut their prices by 10K or more. Theyve been on the market for over a year and nobody is buying.

Now if I could just get one of these banks to lend. Drives me crazy that they were all so eager to make as many horrible loans as they possibly could just a couple of years ago but nobody now is willing to lend a dime even with 20% down and 800 credit.

Must be tards and monkeys in charge at these places.


 
Posted Via ATS Mobile: m.abovetopsecret.com
 



posted on Jan, 11 2011 @ 04:54 PM
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What doesn't make sense is this could easily be turned around for the good for the homes on the market people who wanted a house should be able to buy them. The homeowners who are foreclosed on should be able to buy them back with a much better interest rate now. The regulations are too tight for the market right now. I hate how credit score can affect almost every aspect of your life! What if you made mistakes years a go or was a victim of idendity theft.
It makes me angry that thousands of homes in my area sits empty but there are homeless. Why can't the do a whole different way of approaching mortgages now. The reason why people got foreclosed on was not because there were irresponisble at all it was because they were give flexible rates. Those rates doubled and they could not longer afford those payments. Just give people low rates that are fixed. If I qualified I could buy a condo for $58,000. My payments would be less than $400 per month! I want to buy before prices go up back up!
Sometimes I wonder if this is allowed so the government can claim that housing is a privelage not a right then they can take over more land. They can control more. Why does the government want to take everything away from us?
edit on 11-1-2011 by dreamseeker because: (no reason given)

edit on 11-1-2011 by dreamseeker because: (no reason given)



posted on Jan, 11 2011 @ 04:57 PM
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reply to post by dreamseeker
 


one word....... POWER! and its not the goverment. its the owner of the federal reserve and major bankers. they pull all the strings!



posted on Jan, 11 2011 @ 05:00 PM
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reply to post by camaro68ss
 


I wonder does the federal reserve want to see as all homeless? Rents have gone up and it is much cheaper to own a home. A person has to make at $10/hour in order to rent at least a 1 bedroom apartment. What about those on minuim wage, disablity,those with families?



posted on Jan, 11 2011 @ 05:12 PM
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www.youtube.com...

I could get this condo for only $58,000! This condo has gone down a lot and has been on the market since 2010; around a year. If they weren't so strict on their rules I would buy this!
I am not sure how to embed a video,
edit on 11-1-2011 by dreamseeker because: (no reason given)



posted on Jan, 11 2011 @ 05:36 PM
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reply to post by dreamseeker
 


dude, you got a lot of learning to do.

have a watch of zeitgeist the federal reserve- video.google.com...#


Letter written from London by the Rothschilds to their New York agents introducing their banking method into America: "The few who can understand the system will be either so interested in its profits, or so dependent on its favours, that there will be no opposition from that class, while, on the other hand, that great body of people, mentally incapable of comprehending the tremendous advantage that Capital derives from the system, will bear its burden without complaint and, perhaps, without even suspecting that the system is inimical to their interests."

do you wanna know how the present recession was created?- www.washingtonpost.com...

its all illusion...



posted on Jan, 11 2011 @ 05:40 PM
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reply to post by WHOS READY
 

I know how the real world really works and I have watched videos about the federal reserve. I refuse to believe this is the way it has to be!



posted on Jan, 11 2011 @ 06:27 PM
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Originally posted by dreamseeker
reply to post by WHOS READY
 

I know how the real world really works and I have watched videos about the federal reserve. I refuse to believe this is the way it has to be!



I know this is not the way it has to be but this is what it is NOW! Only congress can tear it down now but they all get payed so why stop a good thing.



posted on Jan, 11 2011 @ 08:41 PM
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I'm sorry, this is a bunch of crap.

Home sale and prices are up year over year in many communities around the country. If you take California, Arizona and Florida out of the numbers - you'll get a whole different picture.

Just more doom and gloom to keep the sheeples depressed.

Real estate is local!!!!!!!! NOT National.

The "sand" states have been hit hard. Price reductions over 50%. But some areas are up 10%. So are we down 40% as a country? That's how they present the numbers.

Let's see.... my community home prices rose last year... what does that say to the numbers.

Don't let "very distressed states" - that had lots of sub prime loans pull down the rest of the country!!



posted on Jan, 11 2011 @ 09:28 PM
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reply to post by Julie Washington
 


I live in a major metropolitan area, Kansas City. I have watched home prices for 3 years on and off. I Have been waiting for the right combination of circumstance to buy low home prices and looser buying restrictions. I am still waiting for the credit scores you need for a house to drop to a little over 500. I am at I think 545; which is fair.
Maybe it is not like this in some areas but in most areas it is like this. I know a home that used to cost $150,000 now costs 100,000. I know my sister bought a home 2 years a go and a home just like hers is on the market for 94,000. She purchase her home at $145,000. When they finished over the basement they had at reappriased and only because the basement was finished was appraised at $120,000. This is a LUXERY townhome with 2 bedrooms, 2 and a half baths, a finished basement now, a garage, stainless steel appliances, fancy itlian tiles in the kitchen and a fireplace. Your area may be the excpetion to the rule.



posted on Jan, 11 2011 @ 09:38 PM
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Originally posted by camaro68ss

...

They say homes will lose value for the next 2-3 years.
...


Where in that Yahoo article does it say that ?



posted on Jan, 11 2011 @ 09:58 PM
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reply to post by dreamseeker
 


Like I said. Home prices are local. I don't know the Kansas market. That may be a distressed market.

That's the problem. Most people only know their local market and not what is happing in other parts of the country.

But then how would you know, when you only hear about the distressed markets. The media only shares the sensational news, haven't you learned that yet?



posted on Jan, 12 2011 @ 12:55 AM
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Yup, in SF Bay area prices are still headed down overall. Not as rapid as before, some communities like San Joaquin county seems to have leveled off after dropping about 60%. Similar in San Bernardino.

However once austerity cuts hit California, we'll see another downturn. Some of these once new, nice neighborhoods will become rental slums. I drove through areas of Union City and Newark, some new homes have no lawns and cars parked on the dirt from multiple renters and no street parking.

The economy doesn't like change. Fluctuations from bailouts and cheap money to austerity and rising interest rates will create more economic pain.



posted on Jan, 12 2011 @ 01:37 AM
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Homes sales are depressed in the major's which account for most of the downfall if I remember correctly.

I can't most likely name the four states but I am going to try..

1. Florida
2. California
3. Arizona
4. Nevada?

Regardless, last time I checked the homes here in Florida are continuing to climb in price where I am located.. I am sure there are pockets still here though that are terrible



posted on Jan, 12 2011 @ 08:28 AM
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Originally posted by thisguyrighthere
Im getting pretty psyched about this.

At the rate this is going prices are going to drop so low and I'll have saved so much cash on hand I'll be able to pay cash for a house.

Just in the past month Ive seen the houses Ive been watching cut their prices by 10K or more. Theyve been on the market for over a year and nobody is buying.

Now if I could just get one of these banks to lend. Drives me crazy that they were all so eager to make as many horrible loans as they possibly could just a couple of years ago but nobody now is willing to lend a dime even with 20% down and 800 credit.

Must be tards and monkeys in charge at these places.


 
Posted Via ATS Mobile: m.abovetopsecret.com
 



Unfortunately,hyper-inflation is likely to hit about the time you think you're ready to buy. In which case,your money will have depreciated so badly that you will be unable to buy anything without a massive dump-truck load of cash. That's the reality America faces now...







 
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