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SPDR Gold Shares Message Board

  • fulsgold fulsgold Apr 13, 2009 11:04 PM Flag

    Housing decline continues

    The Decline Continues in Home Prices

    The data do not give any indication when a turnaround in house prices might occur, but it seems unlikely to be soon.

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    • These reports always lag what the grunts on the ground see. The low-hanging foreclosures in some parts of California have been snapped up. Only "fixers" are left below the lowest price points. Of course, "housing" is not a single market. The housing at the bottom is older, post-war housing. IMHO, the market for recently built "luxury" housing does indeed have further to fall. The houses built from 1945-1970 are sturdy stuff. Newer homes are up to seismic standards, but not "battle tested" by the big one. More critically however, they are built way beyond what people need. The 6 bedroom 3 bath with a 2 car garage never made sense for a 2-child family. It costs too much to heat and cool also. Throw in the fact that they were slapped together quickly during a boom and yeah, those crackerboxes have room to fall. And why would anybody build a 2-story house in a seismic zone anyway? Some of these neighborhoods... they really do look all alike too. It's awful. At least the post-war burbs had different models. These are all friggin the same! I'd rather live next door to someone with al Elvis statue on their lawn than have to look at the address numbers to find my house.

    • Hello Maypoman. How is that realty recovery you predicted last summer working out for you? The man is worried as he has a brain.

    • It's BLATANTLY obvious the 'banksters' have Obama by the Cajones...

      But they also had Dubya, too.

      ...and He was EASY to 'snow'...


    • auri posted a few months ago there is still over a 4.2 year inventory of houses to be sucked up...and since then only more houses have been dumped on the market so despite the Massive Realtor Spin...Geit*ner Spin, etc... I have to agree with Shiller and the Facts which show conditions are still deteriorating and this must be the "Fake Rally" that many are talking about....and soon we will spin downward into another Death Spiral lower.........

      • 1 Reply to billander88
      • I don't post to idiots these days but as you are aware Bill I have been calling this since Nov 2007 and still no bottom in sight.

        Let me add a true family anecdotal story. My wifes sister is West of LA. Perfect credit and plenty of home equity. She was offered a HELOC by her bank in 2007 for $100,000. Stable professional and still employed. Went to them and asked for $1,000 and was told her line of credit had been withdrawn.

        You see working out that housing is still headed
        south and is the bank killer (level 2) still to come does not require great intellect.

        Bunkers of the other hand........

        Of course if you are smart enough to work out that I am really Fuls then you can outthink this mess (f cukin idiot).

        Go gold.

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