Monday, February 14, 2011

Real Estate Collapsing Now In "The Stable Markets"

The rolling real estate crash that ravaged Florida and the Southwest is delivering a new wave of distress to communities once thought to be immune — economically diversified cities where the boom was relatively restrained.
In the last year, home prices in Seattle had a bigger decline than in Las Vegas. Minneapolis dropped more than Miami, and Atlanta fared worse than Phoenix.
The bubble markets, where builders, buyers and banks ran wild, began falling first, economists say, so they are close to the end of the cycle and in some cases on their way back up. (?) Nearly everyone else still has another season of pain.
“When I go out and talk to people around town, they say, ‘Wow, I thought we were going to have a 12 percent correction and call it a day,’ ” said Stan Humphries, chief economist for the housing site Zillow, which is based in Seattle. “But this thing just keeps on going.”
More Here..


  1. I think everyone has this backwards. The problem isn't now with the prices coming down. The problem was when the prices were going sky high. The rule is pretty simple. You should only buy 3 x your salary. And most American families make about $50,000 a yr. which equals about a $150,000 price for a home. Simple Economics 101.

  2. last person has confidence the market wont slide another 20 percent.
    no it will hyperinflate and your money will be worthless
    threw inflation then deflation
    they destroy your dollar and how you play the game to bankrupt you
    this guy should be buying gold then sell and buy your house.

  3. yeah housing was inflated, built on easy credit, now the results. and many jobs, tied to rising things built on easy credit, that should have never existed, now the results. imagine if their was hard credit, what would life have been like, be like. alot of what was seen would have never been, but we'd not have this day of reckoning either


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