The midwest is holding up the best out of most regions.. this kinda thing is happening all over the country..
Yuppies are getting it bad too thinking it would be a good idea to overextend themselves..
I've got CNBC on.. Fed saying that job figures had no impact on their decision.. goes to commercial.. now they're going to show million dollar homes in AZ where McCains from? :lolBIG:
It will be complete when we finally stop hearing and reading the words housing and good investment used in the same sentence.
13-17% is merely a hiccup relative to what the final result will be.
People are still posting threads here that there are endless great deals to be had buying home(s).
Thats not the type of things we will be reading when its actually bottomed.
Not sure if its correct, but I recently heard there is a 12 year supply of new homes on the market in Sarasota.
If true, people near there should be prepared for an impending crash instead of looking for bargains.
:nopityA:
In Tampa by the hospital?
I like extreme north Tampa personally.............more rural and beautiful rolling hills. I love the water, but find it overrated.
I had family that lived in Clearwater.. a cousin was killed and they moved back.. but made some friends down there while visiting them.. and they would take me trolling for nursing students from the university there around Ybor.. Davis Island is a lil place on the south end of downtown.. could be St Petes.. not quite sure.. but theres a small airport on the island
lil strip with a few bars, cigar store, a couple nice places to eat.. everyone has dogs there... very very friendly.
People smoking joints walking down the street.. was really surprised at how liberal it was
Appreciate the kind words fishhead and Im glad you are waiting out the housing storm.
Just make sure you dont miss the next bull market.
People will be nearly giving away condos near the bottom for they wont want to (or wont be able to) pay the taxes.
Something else to consider, especially the gulf side of Florida real estate.
Alot of the Florida condos & second-homes are owned by people here in the midwest (snowbirds).
People that worked at auto plants, and other pension type jobs.
Those people arent making the same bank they once did, if they even have a job.
Right now, I just cant come up with enough reasons to be optimistic about Florida real estate.
Just make sure you dont miss the next bull market.
People will be nearly giving away condos near the bottom for they wont want to (or wont be able to) pay the taxes.
Something else to consider, especially the gulf side of Florida real estate.
Alot of the Florida condos & second-homes are owned by people here in the midwest (snowbirds).
People that worked at auto plants, and other pension type jobs.
Those people arent making the same bank they once did, if they even have a job.
Right now, I just cant come up with enough reasons to be optimistic about Florida real estate.
Think about the thousands and thousands that bought at this peak........
An example.......
A couple puts down 10% on a 350,000 house........35,000.............in 2004..........and its headed to a value of 200,000.
In this scenario, they would have a starting mortgage of 315,000 and after paying their payment for 3-4 years they may have that down to say 300,000............which means if they were to sell their house for 200,000 they would still owe 100,000 to pay off that mortgage.
Again, there are 100's of thousands of individuals across this country in this scenario.......some greater and some not as bad.
Think if they borrowed on their homes equity also.......which thousands did.
The shit has only began to hit the fan.......bank stocks are tanking like a Titantic.
Think about this, BANK of AMERICA has a dividend yield right now of almost 7% if one is willing to invest in them...........but look at their chart for the past year. UGH
good luck
Not sure if your asking Dawoof or myself.........but, living and looking for a home here, I'm waiting until at least the summer/fall of 2009.
A year ago, was thinking about buying at about this time, but just to scary at this point and more importantly, in no rush or need to purchase a residence at this point.
