Friday, August 13, 2010

Could Real Estate Really Plummet 90% Like John Templeton Stated?

One in four U.S. home sellers reduced their asking prices in July, marking the fourth straight monthly increase in home price cuts, according to a new report by San Francisco-based real estate research firm
The price of homes in America's 50 largest cities was reduced by an average of 10 percent last month, totaling a dollar amount of $30.1 billion.
More Here..
Foreclosure Crisis Spreads Across U.S.
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NY Luxury Condo Builder Seeks Government Money
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Over 50? You're Not Getting A Job, Either.
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  1. If a large percentage of people walk away from their house or payment...The courts and sherrifs with their limited staff will not be able to clear the books fast enough making RE a dead market for a LOOOONNNGGG time.

    We all know this...Don't need an MBA...Just common sense...Again it will depend on the area and type of people living in the area.

    Black/hispanic neighborhood? Yes.

    Rich/white/gated community? No.

    Ranch/Farm land type area? Yes and no

    If you want to possibly see what the US might be like in say a decade look to Argentina, Mexico or South Africa...Look at how the white/rich people became pocketed to certain areas as they let the rest just go to hell.

    I agree with it...If you live in the neighborhood and won't sweep your sidewalk, cut your grass, make your neighbor upkeep or make arraingements then don't complain when the middle class won't pay the city to come and fix it anymore.

    In Mexico where my family is from if a street light goes out in front of your house you go buy the light and install it...If the street is ruined by the rain you collect some $ from the neighbors and go bring in the asphalt or gravel and then men fix it.

    You can't depend on the government's teat for your daily milk...Hustle or get left behind...Americans better wake up because bad times are coming.

  2. This is not a LEFT or RIGHT thing.
    The poor on the LEFT & RIGHT have guns & outnumber the RICH.If your RICH you might prepare for your end.


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