Comments on: Housing Crisis Hits California Economy Like Ton Of Bricks http://www.biggerpockets.com/renewsblog/2007/11/06/housing-crisis-hits-california-economy-like-ton-of-bricks/ Learn, Network, Invest Sat, 11 Feb 2012 20:37:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Karen Whitmanhttp://www.biggerpockets.com/renewsblog/2007/11/06/housing-crisis-hits-california-economy-like-ton-of-bricks/#comment-77587 Karen Whitman Mon, 25 Jan 2010 17:59:29 +0000 http://www.biggerpockets.com/renewsblog/2007/11/06/housing-crisis-hits-california-economy-like-ton-of-bricks/#comment-77587 Even with prices dropping, the housing market is still struggling. I am surprised that with the extended tax credit for first time home buyers and with the drop in housing prices, that the market is still struggling. I figured that with these conditions, it would be a buyers market. There are great deals out there, sometimes they are just harder to find. Don't get discouraged by the prices, they will continue to drop and if you are patient, you will find the right house for you. For example, housing prices dropped 1.4 % in the Riverside area. Even with prices dropping, the housing market is still struggling. I am surprised that with the extended tax credit for first time home buyers and with the drop in housing prices, that the market is still struggling. I figured that with these conditions, it would be a buyers market. There are great deals out there, sometimes they are just harder to find. Don’t get discouraged by the prices, they will continue to drop and if you are patient, you will find the right house for you. For example, housing prices dropped 1.4 % in the Riverside area.

]]> By: Solo 14http://www.biggerpockets.com/renewsblog/2007/11/06/housing-crisis-hits-california-economy-like-ton-of-bricks/#comment-54918 Solo 14 Fri, 29 Feb 2008 08:54:28 +0000 http://www.biggerpockets.com/renewsblog/2007/11/06/housing-crisis-hits-california-economy-like-ton-of-bricks/#comment-54918 I HOPE IT CRASHES AT KEAST 75% (MORE LIKE 50% IS REALITY) BUT I DO HOPE THE HOME MARKET PRICES ARE DEVISTATED. I CAN'T AFFORD A HOME DUE TO THESE CRAZY PRICES ... LET IT BURN. I'LL BUY AFTER THE FIRE. A DEEP CRASH MEANS I CAN AFFORD A HOME FOR ME AND MY KIDS. I HOPE IT CRASHES AT KEAST 75% (MORE LIKE 50% IS REALITY) BUT I DO HOPE THE HOME MARKET PRICES ARE DEVISTATED. I CAN’T AFFORD A HOME DUE TO THESE CRAZY PRICES … LET IT BURN. I’LL BUY AFTER THE FIRE. A DEEP CRASH MEANS I CAN AFFORD A HOME FOR ME AND MY KIDS.

]]> By: Utahhttp://www.biggerpockets.com/renewsblog/2007/11/06/housing-crisis-hits-california-economy-like-ton-of-bricks/#comment-53714 Utah Wed, 16 Jan 2008 21:21:30 +0000 http://www.biggerpockets.com/renewsblog/2007/11/06/housing-crisis-hits-california-economy-like-ton-of-bricks/#comment-53714 It's unreal. The reason we're having the crisis is because prices appreciated too fast and part of that was partially artificially created by:Real Estate Investors - purchased places they weren't even going to live in, just to sell again for more driving prices up.Interest Rates were too low. Housing prices went up, but as interest rates went down (especially with arms and interest only loans) The monthly payments were still affordable. It’s unreal. The reason we’re having the crisis is because prices appreciated too fast and part of that was partially artificially created by:

Real Estate Investors – purchased places they weren’t even going to live in, just to sell again for more driving prices up.

Interest Rates were too low. Housing prices went up, but as interest rates went down (especially with arms and interest only loans) The monthly payments were still affordable.

]]> By: Rick Marnon, Howellhttp://www.biggerpockets.com/renewsblog/2007/11/06/housing-crisis-hits-california-economy-like-ton-of-bricks/#comment-52106 Rick Marnon, Howell Tue, 13 Nov 2007 02:38:52 +0000 http://www.biggerpockets.com/renewsblog/2007/11/06/housing-crisis-hits-california-economy-like-ton-of-bricks/#comment-52106 Chris is right. The market has effected everywhere. In Michigan we are having long waits for people to sell as well. What will it take to turn things around?Rick Marnon, Howell Chris is right. The market has effected everywhere. In Michigan we are having long waits for people to sell as well. What will it take to turn things around?

Rick Marnon, Howell

]]> By: Dallas Bienes Raiceshttp://www.biggerpockets.com/renewsblog/2007/11/06/housing-crisis-hits-california-economy-like-ton-of-bricks/#comment-52049 Dallas Bienes Raices Wed, 07 Nov 2007 23:27:48 +0000 http://www.biggerpockets.com/renewsblog/2007/11/06/housing-crisis-hits-california-economy-like-ton-of-bricks/#comment-52049 Well this is the way I see it, right now is the buyers market, sometimes is the seller's market. Hopehully one day we will get thrue this. Well this is the way I see it, right now is the buyers market, sometimes is the seller’s market. Hopehully one day we will get thrue this.

]]> By: Chris Dowellhttp://www.biggerpockets.com/renewsblog/2007/11/06/housing-crisis-hits-california-economy-like-ton-of-bricks/#comment-52048 Chris Dowell Wed, 07 Nov 2007 20:58:49 +0000 http://www.biggerpockets.com/renewsblog/2007/11/06/housing-crisis-hits-california-economy-like-ton-of-bricks/#comment-52048 It has hit everywhere. Some homes in Kansas City are taking 9 months or longer to sell. I have a seller who is leaving a new convertible BMW for the buyer at closing. It has hit everywhere. Some homes in Kansas City are taking 9 months or longer to sell. I have a seller who is leaving a new convertible BMW for the buyer at closing.

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