Housing prices starting to come down - GoFuckYourself.com

Shaze · 10-23-2005, 02:14 AM

Seeing this all over the news....hopefully it goes down for the next year so i can buy up the foreclosures :P

supermann · 10-23-2005, 08:41 AM

is this a bad news for real estate investors?

xclusive · 10-23-2005, 08:56 AM

Good news as you can get great deals and it will go up again

KRL · 10-23-2005, 09:01 AM

Its been going down for the past few months. The high end market is really showing lagging.

I feel sorry for all the dreamers that bought loads of condos on spec.

Funniest thing of all on Nov 1, Trump is putting a 43,000 sq ft. mansion up for sale at $125 Million.

warlock5 · 10-23-2005, 09:25 AM

I saw that one too:
http://www.palmbeachdailynews.com/ne...ToddJ1020.html

Sosa · 10-23-2005, 09:37 AM

damn trumps place is huge.

Joesho · 10-23-2005, 09:41 AM

yep this bubble burst will make the dot com bubble look like a frogs fart coming out of a pond Versus a mushroomcloud from the Manhattan project!

BucksMania · 10-23-2005, 09:49 AM

i guess it's normal to go little bit down before jump high up again

sperbonzo · 10-23-2005, 09:55 AM

Quote:

Originally Posted by Joesho

yep this bubble burst will make the dot com bubble look like a frogs fart coming out of a pond Versus a mushroomcloud from the Manhattan project!

Not sure that I agree there Joe. There are certain big differences..... for one thing houses are real property, not just a cool concept, and everyone needs to live somewhere. It will flatten out, with a short dip when all the pre-construction condos all hit the market end of this year, and into next year, but houses aren't suddenly going to become worthless

Furious_Male · 10-23-2005, 09:57 AM

They aren't going down everywhere. Keep in mind this is all geo related. Some areas spiked very high so fast they are just ripe for a decline. Other areas grew slowly and still are

Joesho · 10-23-2005, 10:05 AM

Quote:

Originally Posted by sperbonzo

Not sure that I agree there Joe. There are certain big differences..... for one thing houses are real property, not just a cool concept, and everyone needs to live somewhere. It will flatten out, with a short dip when all the pre-construction condos all hit the market end of this year, and into next year, but houses aren't suddenly going to become worthless

I would agree and and add this Mike to justify my claim.

ARM's
no doc loans and unscruuplious ( never calimed to be a writer LOL) Mortgage brokers

fals creative no money down loans to bosst the home sales market

to much creative financing allowed to make these values seem real for too long .

Joesho · 10-23-2005, 10:07 AM

for example remember the credit card companys several years back were giving everyon credit cards to inflate their numbers? then wham they got butrned and had to eat more debt so they revised their criteria again ?

I think this has happened ten fold on housing loans in the last 7 yrs or so and is gonna really become apparent as these ARMs come due and the refinance values are not there to support that method.

Libertine · 10-23-2005, 10:09 AM

Quote:

Originally Posted by sperbonzo

Not sure that I agree there Joe. There are certain big differences..... for one thing houses are real property, not just a cool concept, and everyone needs to live somewhere. It will flatten out, with a short dip when all the pre-construction condos all hit the market end of this year, and into next year, but houses aren't suddenly going to become worthless

Don't forget that a small dip or even a mere stagnation in growth in the value of property has a much larger effect on the economy as a whole than virtually any other area of business, because it directly and extremely strongly influences consumer trust and consumer spending.

BeatingSkull · 10-23-2005, 10:11 AM

I'm looking at one in the hopes to get 100% no down with an 80/20 @ $200k over 30 at 7% /10%

Basic_man · 10-23-2005, 10:12 AM

Quote:

Originally Posted by xclusive

Good news as you can get great deals and it will go up again

Yep that's true. Maybe I'll buy a house next year

sperbonzo · 10-23-2005, 10:13 AM

Quote:

Originally Posted by punkworld

Don't forget that a small dip or even a mere stagnation in growth in the value of property has a much larger effect on the economy as a whole than virtually any other area of business, because it directly and extremely strongly influences consumer trust and consumer spending.

That's true in terms of the effects on consumer confidence, but in terms of personal fortunes lost, the damage won't be as bad as the tech bubble losses in the stock market.

Fletch XXX · 10-23-2005, 10:13 AM

yeah think again, california prices up all over.

imposible to even buy here.

sperbonzo · 10-23-2005, 10:15 AM

Quote:

Originally Posted by Joesho

I would agree and and add this Mike to justify my claim.

ARM's
no doc loans and unscruuplious ( never calimed to be a writer LOL) Mortgage brokers

fals creative no money down loans to bosst the home sales market

to much creative financing allowed to make these values seem real for too long .

Now THAT is very true. In certain areas of the country that is going to bite people in the ass. If you have an option ARM, and you have only been making the 1% payment, you are going to get hit.

Libertine · 10-23-2005, 10:22 AM

Quote:

Originally Posted by sperbonzo

That's true in terms of the effects on consumer confidence, but in terms of personal fortunes lost, the damage won't be as bad as the tech bubble losses in the stock market.

Diminished consumer confidence and spending is only the first step. Those things will ultimately almost inevitably lead to recession if they are big enough, and thus cause even worse damage than the tech bubble burst did.

sperbonzo · 10-23-2005, 12:25 PM

Quote:

Originally Posted by punkworld

Diminished consumer confidence and spending is only the first step. Those things will ultimately almost inevitably lead to recession if they are big enough, and thus cause even worse damage than the tech bubble burst did.

I guess we will just have to wait and see.... and hope for the best.

$5 submissions · 10-23-2005, 02:05 PM

Check it out http://www.gofuckyourself.com/showthread.php?t=530870

Mr Pheer · 10-23-2005, 02:22 PM

Quote:

Originally Posted by Fletch XXX

yeah think again, california prices up all over.

imposible to even buy here.

yep... and thats making alot of californians come to vegas to buy, which drives up our market. My house value had almost doubled in under three years because of it

10-23-2005, 02:14 AM	#1
Shaze Confirmed User Join Date: Oct 2003 Location: Cyberspace Posts: 2,662	Housing prices starting to come down Seeing this all over the news....hopefully it goes down for the next year so i can buy up the foreclosures :P __________________ Adult Search Engine Japanese Porn Thai Porn

10-23-2005, 08:56 AM	#3
xclusive Too lazy to set a custom title Join Date: Apr 2004 Location: Buffalo, NY Posts: 35,218	Good news as you can get great deals and it will go up again __________________ I support MediumPimpin.com / Shemp's Outlawtgp.com /

10-23-2005, 09:01 AM	#4
KRL Entrepreneur Join Date: Oct 2002 Location: USA Posts: 31,429	Its been going down for the past few months. The high end market is really showing lagging. I feel sorry for all the dreamers that bought loads of condos on spec. Funniest thing of all on Nov 1, Trump is putting a 43,000 sq ft. mansion up for sale at $125 Million. __________________ If you would like to develop your domains, you can lease inexpensive foreign labor from the leaders in the field at iWebmasters.com TO LOWER YOUR COSTS AND INCREASE YOUR PRODUCTION! * * * * * * * * * * * * Domains Adult News KRL's Newsletter Biz Tips Just Listed Domains

10-23-2005, 09:41 AM	#7
Joesho want to get in shape Join Date: Jan 2003 Location: on the lake Posts: 12,329	yep this bubble burst will make the dot com bubble look like a frogs fart coming out of a pond Versus a mushroomcloud from the Manhattan project! __________________ Got any domains to sell? I proudly host all my stuff at www.rackco.com

10-23-2005, 09:57 AM	#10
Furious_Male Doing the grind since 99 Industry Role: Join Date: Oct 2003 Location: Buffalo NY Posts: 16,883	They aren't going down everywhere. Keep in mind this is all geo related. Some areas spiked very high so fast they are just ripe for a decline. Other areas grew slowly and still are __________________ Living in Virtual Reality Contact: Email (preferred): furiousmale .at. gmail - Skype: live:shanedws

10-23-2005, 08:41 AM	#2
supermann Confirmed User Join Date: Jul 2004 Location: Toronto Posts: 412	is this a bad news for real estate investors?

10-23-2005, 09:25 AM	#5
warlock5 Confirmed User Join Date: Jan 2004 Location: Uranus Posts: 2,808	I saw that one too: http://www.palmbeachdailynews.com/ne...ToddJ1020.html

10-23-2005, 09:37 AM	#6
Sosa In Tushy Land Join Date: Oct 2002 Location: Nebraska Posts: 40,149	damn trumps place is huge.

10-23-2005, 09:49 AM	#8
BucksMania Confirmed User Industry Role: Join Date: Oct 2005 Posts: 3,758	i guess it's normal to go little bit down before jump high up again

10-23-2005, 10:07 AM	#12
Joesho want to get in shape Join Date: Jan 2003 Location: on the lake Posts: 12,329	for example remember the credit card companys several years back were giving everyon credit cards to inflate their numbers? then wham they got butrned and had to eat more debt so they revised their criteria again ? I think this has happened ten fold on housing loans in the last 7 yrs or so and is gonna really become apparent as these ARMs come due and the refinance values are not there to support that method. __________________ Got any domains to sell? I proudly host all my stuff at www.rackco.com

10-23-2005, 10:11 AM	#14
BeatingSkull Confirmed User Join Date: Sep 2005 Location: The Confederate States of America Posts: 713	I'm looking at one in the hopes to get 100% no down with an 80/20 @ $200k over 30 at 7% /10% __________________ "Every Tuesday, Thursday and Sunday in October PussyCash will pay you a $100 FOR EVERY IMLIVE SIGN-UP you refer"

10-23-2005, 10:13 AM	#17
Fletch XXX GFY HALL OF FAME DAMMIT!!! Join Date: Jan 2002 Location: that 504 Posts: 60,840	yeah think again, california prices up all over. imposible to even buy here. __________________ Want an Android App for your tube, membership, or free site? Need banners or promo material? Hit us up (ICQ Fletch: 148841377) or email me fletchxxx at gmail.com - recent work - About me

10-23-2005, 02:05 PM	#21
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	Check it out http://www.gofuckyourself.com/showthread.php?t=530870 __________________ Need a NON-ADULT income stream? We build your YOUTUBE CHANNEL for only $20 per video! For Hire: $3/hour or $400 per month Marketing Specialist Virtual Assistants