Housing Downturn Worse Than Great Depression

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[Rex Kramer]

No big deal. Housing prices had an unprecedented ascension in the 80s, 90s and 00s not seen in the 1900s, 1910s or 20s. The economy now is MUCH better than what was seen throughout the 30s precisely because of Treasury and Fed actions taken in the Fall of '08.

The decline in home prices has stabilized, should stay flat for a while, and increase thereafter.

 

[Horn6721]

Rex
For every OPINION of an expert that says housing prices are at the bottom there is another OPINION of another expert that says housing prices will continue to fall.

 

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[TexasGolf]

they tried to go up 10% in my hood here in Houston. seems everyone is protesting that crap

 

[Rex Kramer]

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[Rex Kramer]

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[hornpharmd]

I find national figures misleading. The market is recovering in some areas and the market is till horrendous in other areas of the country. It may continue to fall in some.

One thing that is not mentioned is how poorly many houses are built since the 1980s. In general these houses aren't built to be around in decent condition for more than 30 or 40 years. Who wants one of those homes and wants to put a bunch of cash into them to fix them up? So many stay empty and inflate the overall #s of unsold homes as well. Just another indicator of how rotten our society has become over the last 30 years. We just don't view our home as our castle and as our long term investment. People purchase their home over their heads as an investment and then walk away from them with no emotional attachment.

Just a few years ago my broker was trying to tell me to stop putting extra cash into my mortgage payment b/c it would be better invested in the market. Well I didn't listen b/c I knew that my home was more important. You can't put a real value on the security of that. And I was proven right after the collapse of 2008.