United States Heading towards a Depression?

lol, wow I'm almost convinced

Homes most places are not cheap, maybe in rural north Dakota or where ever you live , you can buy houses for 50-100k , but around much of the country houses cost 200-300k+

higher interest rates are good for me because I plan on buying with cash and the harder it is for others to borrow , then the cheaper it will be for me

but I'll give you the lower interest rates, except that which is better a low prices or low interest rate?

I think a lower price is more desirable

Banks can be even better, once they take that home from that "home owner"

oh is just starting , wait till the banks start dumping foreclosures then you will see flooded, in a lot of major cities they haven't even finished the building projects they started in the height of the bubble

this statement in itself is a contradiction

yeah, the ones that work for realtor's associations sound just like you

its just starting, you want to be $20 via paypal that the average national home prices continues to decrease for at least another year?

 

Where I live the homes are $450k to $20 million.

You stand to make more putting that liquid case somewhere where it will make money.. With interest rates this low, you are better off borrowing.

Both..

It's all relative.

Most banks will win in the end.. It' win win all the way around for them.

Meanwhile were I live they continue building.. Go figure...

Life is a contradiction...

They must be pretty smart people..

I never said it would not.. I said that the time to buy is already upon us.. Waiting 2 + years like you suggest, you might just miss the boat...

 

My comments and experience on this are:

I'd only do it if I was in a real strong liquid position. If you are strong with liquidity its not a bad time to look. I'd fish for property values and just bid low as hell...especially with homes. There could still be serious downward movement on prices.

Keep low balling price offers. Whomever knows how far the market will tank before it moves upward again.

I'd really be lowballing hard....up until the time when there was hard evidence of the market flattening....ie not dropping any more....or beginning to move back upward.

If the market is tending to move back upward I'd work hard to make deals. I'd pull back from the serious lowballing and just make fast market deals. I'd do that during the first 4-6 months of evidence of the market inching forward.

Hopefully I'd have made a couple of deals by then. Then I'd pull out of the buying focus and wait out price appreciation.

I don't want to be the first one in on buying....because the market is a real big unknown at any time. I don't want to wait out the reversion on prices once a market begins to rebound. I want to get in and out quickly.

being the last buyer at the end of a long period of rising prices sucks. Your values will only go doooooooooooonwn.

buying too early when a market is tanking means you may have to ride out further tanking prices before a market stabilizes.

Just my experience. btw did I win some and lose some? absolutely.

 

That's way too much for Wisconsin. What's your zip code? Mine is 33141

 

whats the zip code?

I often think about that, but in what would you invest where you would be guaranteed more of a return then the interest you would be paying, rates are low enough at this moment where that could be a factor but normally not really

So far I have found counting all the carrying costs of a house, in addition to lost interest income its cheaper to rent

The only way it would make sense to me if prices are going up, which they are not and may not be for several years

they don't actually have you looked at financial stocks lately, I think I tired to explain this to you before, not sure if you got it

They are still building in maimi too, they will have free condos for everyone in the next couple years

thats just dumb

Actually they are just paid liars, and they have been wrong constantly the last couple of years

ok want to bet on 2 years of price declines?

 

Nintendo is that you? j/k

 

Are you both too lazy to look it up?

I guess this kinda shows what you two know about property values in different geographic locations... I live in a Illinois populated tourist town..

My zip is pretty easy to find.. Whois on a domain, IP address, my profile... SHeesh... I thought you guys were smart..

 

Its much easier if you type them numbers just like I did 33141 why beat around the bush? Why are your skirting the issue? Or YOU too lazy to punch in 5 digits? Do you have anything to hide? Why do you want people to waste their time doing whois searches when you can simply state your zip code? Or are you not proud of your neighbourhood full of macmansion? I'll guess 53147

Is this your neighborhood where the houses are worth $450K - $20 million?
http://www.realtor.com/search/searchresults.aspx?zp=53147&ml=3&bd=3&bth=2&typ=7

 

I'm not a stalker, I don't care that much

 

Then why ask.. I'm pretty certain I have a better handle on property values where I live... I have no reason to make things up.. Ask GRIM.. I'm fairly certain he is familiar with the crazy prices for homes in Lake Geneva...

 

It is not too much for homes, even where I live crap holes are in the low hundred thousand dollars. Many homes are in the 500 k mark or above. Many parts of the state have even more expensive homes than where Mia lives

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It of course depends on the neighborhood and the house, I'm sure there are homes in the town or area less as well.

 

Dreamer! Here is the most expensive home in that area. Where did you come up with those $20 million homes you where speaking of? Than again coming from you...

I'll let the stats speak:
http://www.realtor.com/search/searc...=7&sid=028272fcaa084b318bb20bce0fd759e7&pg=42

This is the most expensive I could find and its not even close to $20 Million
http://www.realtor.com/search/listi...pg=48&lid=1093061579&lsn=474&srcnt=474#Detail

 

Those are only the ones for sale, doesn't mean that there isn't a 20 million dollar house there.

In Mayville, the town I live in there is a mansion worth in the millions, it however is not for sale atm

 

Cause you can't just wake up one day my friend and make a $20 million dollar sale just like that especially in Wisconsin. Kind of hard to liquidate that kind of property, thats why it will only depreciate. At that price range most people would not want to live in Wisconsin, they'll move to the west coast or by the ocean. (at least the smart ones)

 

There are multi million dollar homes in Wisconsin, believe it or not

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I should add however I do not know what the most expensive house where Mia is worth, with enough land though, the right neighborhood, the right house I could see it possible.

 

http://www.forbes.com/2004/07/22/cx_bs_0723home.html

this article is a few years old so prices could have gone up, new homes could have been built, old ones could have been improved

 

http://www.forbes.com/lifestyle/realestate/2005/10/07/most-expensivehomes-US-cx_sc_1007home_ls.htmll

Could not find Wisconsin in there but did find Miami on the list. I know someone who lives on Star Island, house is worth $60 million.

 

here is a graph the prices in your zip mia



looks like you had a nice little run up even out there in arctic tundra, looks like it has some room to fall just like here

here is where guru-seo lives

 

Unfortunately, in this case, like most, he might as well insert head in ass..

He has no idea what he is talking about... I have no reason to want to or even care about defending home values in Wisconsin.. I'm not native to the state... What you get for the buck here however, I can assure you is a lot more than you get most anywhere else outside the midwest...

Of course we are a bit over taxed ATM... Can thank Doyle for that one..

It might be best if Guru just sort of quietly walked away from this one, like does with most discussions where he is speaking out of school...

 

Liked the Suisse Credit...makes me kinda homesick.
In the UK the opposite is happening.
Interest rates are falling slighly, perphaps artificially, which is keeping property prices stable.
Perphaps even rising
Many people make more money during a recession.
You just need to understand what is happening and why.
Not all of it just a few simple bits.
I wouldn't put it past some people to be able create a recession.
Cynics say they are the globally rich's way of being able to buy property cheaper and I think the ferret stumbled on it.
without seeing the darker engineered side. Recessions are engineered not accidental
From a loans point of view the banks (i work for a bank sort of) they are being a little harsher with underwriting.
I think this is more a knee jerk reaction by middle managers covering their ass. They are still giving out loans to people who can manage their bank accounts. Nothing has changed.