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I picked a bad decade to buy a house .....

Discussion in 'Sports and News' started by Football_Bat, Jan 25, 2007.

  1. Football_Bat

    Football_Bat Well-Known Member

    Sales of existing homes plunge by largest amount in 24 years
    Eds: LEADS with 3 grafs to UPDATE with home sales. Moving on general news and financial services.
    AP Economics Writer
    WASHINGTON (AP) — Sales of existing homes fell in December, closing out a year in which demand for homes slumped by the largest amount in 24 years.
    The National Association of Realtors reported that sales of existing homes were down 0.8 percent last month, a bigger decline than had been expected. For the year, sales fell by 8.4 percent, the biggest annual decline since 1982, when existing home sales fell by 17.7 percent in the midst of a severe recession.
    The sales figure underscored the sharp contraction that is going on in the once high-flying housing market, which before last year had set sales records for five straight years.


  2. MC Sports Guy

    MC Sports Guy Member

    Yikes. I just bought my first house less than six months ago.
  3. Norman Stansfield

    Norman Stansfield Active Member

    Same here. ???
  4. Starman

    Starman Well-Known Member

    How'm I Doing?? ;)

  5. Armchair_QB

    Armchair_QB Well-Known Member

    So the president gets no credit for five consecutive years of record sales but gets all the blame when the bubble that had to burst eventually finally does?
  6. Angola!

    Angola! Guest

    It depends on where you live, though. I just bough my second house six months ago and prices are skyrocketing here. Though it helps to live near oil country during a boom.
  7. Starman

    Starman Well-Known Member

    Riding the boom generated during the adminstration of none other than Bill Clinton.

    When was the last time we had a comparable economic skid? Oh yes, when Daddy Fucknuts was in the White House.
  8. Idaho

    Idaho Active Member

    Maybe all those people that bought new homes in the last couple of years just aren't buying more new homes. All I know is my house cost $235,000 18 months ago, and the smaller house on a smaller lot directly across the street from me sold for $295,000 last week.

    So what does this mean? That realtors are taking it in the shorts? Or that home prices will be dropping? Since I'm not in the housing business, what does it really mean?
  9. D-Backs Hack

    D-Backs Hack Guest

    Uh, that standard wasn't set by the Bush haters.

    See Clinton, Bill; tech bubble.
  10. Twoback

    Twoback Active Member

    Unless you're planning on selling that house in the next six months, I don't think you've got a problem.
  11. IGotQuestions

    IGotQuestions Member

    This news means nothing unless you bought within the last few years and are looking to move. Prices will go back up if you look at this in the long term. Yeah, my house has $10,000 in value since buying 1.5 years ago, but I'm not worried about it one bit.
  12. Idaho

    Idaho Active Member

    But Junkie. EVERYTHING that might be construed as a bad thing (even if it really isn't) is either Bush's fault, Clinton's fault, or Bush Sr.'s fault.

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