Comments on: Phony ‘recovery’: Home ownership at 18-year low

By: jimmydeeoc

jimmydeeoc — Wed, 31 Jul 2013 17:23:06 +0000

residential WAS undervalued – two or three years ago. But the recent pop in prices and rise in rates have eaten up future potential. I see prices pretty much flatlining for a few years.

By: Hondo

Hondo — Wed, 31 Jul 2013 15:23:13 +0000

Less home ownership is a good thing, compared with the problems of 2008, when too many people had homes they couldn’t afford. Things were going to get better when the real estate market leveled out. And things have gotten a little better. That is despite 7 trillion dollars of deficit stimulus spending. How many people do you know who got one of those ‘shovel ready’ jobs?
Hondo…..

By: Dyspeptic

Dyspeptic — Wed, 31 Jul 2013 06:14:51 +0000

“It is booming in residential investment property.”

Sure it is Uhaul. Why don’t you go attend one of those “Get rich quick in real estate, it’s sure deal” seminars and then go buy some houses with no money down. Just like in 2006. I’m sure that will work out for you, SUCKER!

By: eck

eck — Wed, 31 Jul 2013 04:30:58 +0000

In reply to Ulysses Uhaul. Are you even aware of how hard it is for an average Joe to buy anything in northern Ca these days? Yeah, great if you have investments. Not so for most others.

By: Donkey

Donkey — Tue, 30 Jul 2013 23:23:21 +0000

UU, sorry about your coming luck!! 🙂

By: Donkey

Donkey — Tue, 30 Jul 2013 22:35:30 +0000

John, it is clear to anyone that has been in the private sector for twenty or more years that the economy is in the tank. For their own selfish reasons the state propaganda machine is trying in vain to BS the working people. 🙂

By: Let It Collapse

Let It Collapse — Tue, 30 Jul 2013 20:18:38 +0000

There aren’t many news sites one can go to and get the truth any more. But from what I’ve seen so far, this is one site where the truth is being told.

About 20% of US homes are still underwater on their mortgages. Another 4% have 1%-5% equity in their properties.

So about one quarter are still deep in the doo-doo. That’s alot of homes and a lot of people.

The only thing keeping them from going lower is ZIRP. (zero interest rate policy). Sooner or later that has to go away. When it does, watch the home prices plummet. The RE markets are still gamed. We don’t have a real economy any more. We have a gamed economy. All smoke and mirrors. Lots of Wal Mart workers. Lots of pizza delivers. Lots of public employees. All getting nice subsidies from the gov.

But, hey, you can go to Detroit and find a home for $10,000 (no joke). Just make sure you have at least the same amount invested in survival materials and gear if you decide to jump on that bargain.

By: Ulysses Uhaul

Ulysses Uhaul — Tue, 30 Jul 2013 19:36:19 +0000

It is booming in residential investment property. Sorry you doomers are always late for big profits! Are you aware ultra conservative sites may have a few Bagdag Bob’s spooning you misery, self doubt and general beat downs?