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Home Prices Fall Again In Biggest Drop Since 2008

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Home Prices Fall Again In Biggest Drop Since 2008

Post by Guest on Tue May 10, 2011 7:00 pm

"Home value declines are currently equal to those we experienced during the darkest days of the housing recession," Zillow chief economist Stan Humphries said in a statement. "With accelerating declines during the first quarter, it is unreasonable to expect home values to return to stability by the end of 2011."

http://www.huffingtonpost.com/2011/05/09/home-prices-first-quarter-2011_n_859299.html

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Re: Home Prices Fall Again In Biggest Drop Since 2008

Post by AbusedWorker on Fri May 13, 2011 3:01 pm

It takes a job paying at least 20-30 / hr to pay for a house. If market supply of houses is increasing due to forclosure and no new jobs are created in that pay range -- poof no house sales. Gregg Rosen has covered this well.

You want house sales bring back the jobs paying middle-class wages. Simple.

Gregg said like 95% of jobs created since the recession are like 9-15 / hr jobs. That's enough to rent a apartment max.

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Re: Home Prices Fall Again In Biggest Drop Since 2008

Post by Guest on Fri May 13, 2011 3:10 pm

In this area, and most, you would not be able to find or afford an apartment unless you made at least $15/hr. if you are a single person with no other means of support.

I don't know how they can expect us to live on the new acceptable wage that a McJob or Wal-Mart pays, and be able to keep a roof over our heads, pay utilities, keep food on the table and pay for transportation to get to that low-paying, no benefit job.

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Re: Home Prices Fall Again In Biggest Drop Since 2008

Post by Guest on Fri May 13, 2011 4:39 pm

In NJ, you would be hard pressed to find a job paying more than $9.

And, if like myself you are over 55, qualified or not, you do not get the calls, like me, you are too expensive to insure. Funny, never thought of myself as high maintenance, but apparently I am.

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Re: Home Prices Fall Again In Biggest Drop Since 2008

Post by Guest on Fri May 13, 2011 4:40 pm

Worst part of all this, now that housing in the tri-state area is starting to go back to where it really belongs, I can't afford the welcome mat much less the house.

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Re: Home Prices Fall Again In Biggest Drop Since 2008

Post by Dazed&Confused on Fri May 13, 2011 4:48 pm

The housing dip is gonna put us right back into that recession, that is pretty much a given.

I wonder, they said they created over a million jobs between last year and now, I am wondering if that is net/net or do they deduct the layoffs, of which 2 weeks ago there were some 478,000 on the moving average, which of course, they report as something like 438,000 intial claims (moving average SA). I just can't stand the lies and why do these legislatures go home early every week, when the country is in such a mess, shouldn't they stay and try and fix it. The only thing they have been doing is confirming Federal Judges. Something has to give, and I hope it is not a double-dip, but I think they know it is coming but do not know what to do about it. We got 30 billion from that Lybian guy, Bin Ladden probably had a ton, we should get that. I don't know why we go to war for free anymore. We used to take the spoils, I don't know why or when we got a conscience about taking war money. Legalize MJ, tax it, that is one solution. Drinking drunk is the same as getting a little high. I don't like the stuff, but since it can be found any where why not make it legal and tax it. There are answers out there, I know it is right to stop giving money to the oil companies, but I further think it is wrong, at a time like this, for these companies to say "well we will just move," in difficult times maybe we need martial law on these folks, you just have to laugh or you will go crazy. What happened to Nixon, maybe he was not so bad, eh?

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Re: Home Prices Fall Again In Biggest Drop Since 2008

Post by gettheminNOVEMBER on Fri May 13, 2011 4:56 pm

I heard somewhere that for every house sold 2 jobs are created. They can blow smoke and spin the jobs numbers all they want but reality will catch to them. Talk to the hand Talk to the hand GOOLSBY YOU CLOWN! clown

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Re: Home Prices Fall Again In Biggest Drop Since 2008

Post by Guest on Fri May 13, 2011 7:20 pm

All the empty houses in neighborhoods is also driving down the prices for folks who are still working and trying to keep up their homes. This alone is a disaster for the baby boomers, they were thinking of trying to sell at some point - there goes that idea. Taxes just keep going up, there is no one left to pay for the parks and recreation costs, etc.

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Re: Home Prices Fall Again In Biggest Drop Since 2008

Post by Guest on Fri May 13, 2011 11:00 pm

Taxes are outrageous. My mother in law is 2 yrs behind on hers. she owes 6 grand for a raised ranch on 1/2 an acre. taxes have nearly doubled over the past few years.

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Re: Home Prices Fall Again In Biggest Drop Since 2008

Post by suri on Sat May 14, 2011 3:57 pm

The housing segement is a HUGE part of the problem holding individuals hostage imho. Can't sell whether to up or down-size, relocate, etc. Alot of the 'wealth' people felt in their homes was driven by Bush's politics in order to make the economy APPEAR more robust on his watch with the real estate bubble that resulted. TV shows on flipping houses, etc. are now replaced with shows on car repossessions and auctioning off unclaim/unpaid storage units!! What a Face

The news that 28% are UNDERWATER on mtgs in this country is horrible for those individuals, family, communities, this nation!! One of the many promises we are not keeping in this country --- your home is your best investment! This is JUST another open wound that no one seems to be addressing?? Sad


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Re: Home Prices Fall Again In Biggest Drop Since 2008

Post by Sponsored content Today at 5:57 am


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