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Plenty of houses available!

Discussion in 'Sports and News' started by Bubbler, Aug 24, 2010.

  1. LongTimeListener

    LongTimeListener Well-Known Member

    Um, yeah, that's kind of what I meant mustang ... my point being that the house is now in Junior's name so if he wises up to that fact Mommy and Daddy could be screwed.
     
  2. JackReacher

    JackReacher Well-Known Member

    Thankfully, I found a carpool with people from my neighborhood, which helps a ton. I'm moving further away from my work, but my commute will actually be shorter by like 10 minutes or so.
     
  3. playthrough

    playthrough Moderator Staff Member

    We're putting our house on the market in two weeks; I have a new job out of state that we want to relocate for. Yet both our neighbors' houses are for sale, as are another dozen on surrounding streets. And we live in a perfectly good neighborhood. Pretty nerve-wracking.
     
  4. John

    John Well-Known Member

    The head coach of the college football team I cover was hired in December 2008. And his house in Virginia is still on the market. He lived here with his son last year, while the wife and daughters stayed behind while trying to sell the house. The whole family is here now and they're renting a place while waiting for the house to sell.
     
  5. RickStain

    RickStain Well-Known Member

    If this is as bad as it gets, we should consider ourselves darn lucky.
     
  6. If $8k is the difference between buying or not buying a house for you, you probably can't afford it.
     
  7. LongTimeListener

    LongTimeListener Well-Known Member

    I still think we're closer to the beginning than the end of the whole thing. The shadow market -- homes that the banks own but won't put up for sale, controlling supply to influence demand -- might be as high as 20 percent of all homes. I read something in the NY Times predicting that in Arizona, prices won't get back to level for 15 years.

    There's less pain when the market gets artificially propped up, but there's also less chance of a return to normalcy.
     
  8. TigerVols

    TigerVols Well-Known Member

    It's not.

    Saw a stat today:

    Number of homes in Orange County owned by banks: 6,000+.
    Number of bank-owned homes on the market in Orange County: 274.

    Ouch.
     
  9. I Should Coco

    I Should Coco Well-Known Member

    Good point on the shadow market. Not to mention the number of homes where the owners moved, finally gave up on selling them, and found a properties management business to oversee renting it out. Quite a few cases like that in our neighborhood.

    If all the homes that recently turned to rentals were put on the market, you'd probably have for-sale signs on 25 percent of all the homes.
     
  10. Pete Incaviglia

    Pete Incaviglia Active Member

    Here's the thing: People need to stop buying homes as "investments."

    I bought my home because I wanted a roof I owned - not rented - over my head. And I wanted one I could afford no matter where interest rates went.

    I'm not looking at it as an investment. It's my home. I don't plan on leaving or moving. Extreme circumstances being the exception.

    But why is the home an "investment" that people insist make money for them?

    If you want to save money/invest money, but a smaller home and save more actual cash.
     
  11. mustangj17

    mustangj17 Active Member

    I know what I can and can't afford, thank you.
     
  12. Ace

    Ace Well-Known Member

    If you bought a home, it's an investment. However you choose to look at it.
     
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