Comments on: Home Prices Plunge. Steepest Decline Since WWII !

By: Steven Boorstein

Steven Boorstein — Mon, 31 Dec 2007 02:31:31 +0000

Nice article and good, “eye opening” stats.

But, my only point of contention is your closing:
“And now, the bad news: By some expert predictions, home prices may drop as much as 30 percent…”

I guess one could also look it as good news for us REI’s… the money is made when the market becomes ripe with buying opportunities. For the record, I had been one of the bears from the beginning. I posted on June 5, 2005 an article explaining how I felt the market was headed down and what a landlord looking to accumulate properties and survive the market should do… I was a little early in my prediction, but not by much! See: http://howtobuyrentalproperty.blogspot.com/2005/06/does-this-real-estate-market-scare.html

For us investors, a big part of our profit is determined by the price we have purchased the property… I can’t help but think of the wealth this could create for those who buy SMART and are in for the long haul.

Happy New Year!

Steven Boorstein
Landlord Business Insider

By: AZ REOs

AZ REOs — Sat, 29 Dec 2007 00:52:45 +0000

Good post, btw…

By: AZ REOs

AZ REOs — Sat, 29 Dec 2007 00:36:25 +0000

I agree that we’re declining, however, some markets are actually appreciating. I believe what we’re seeing is a shift of people moving from higher end homes to less expensive homes, as the loans are not readily available for them to get into. Most don’t have the downpayments now required by most lending institutions, so they’re forced to downsize. This shifts the median price range down as well, and the newspaper writers are thrilled. I DO believe prices will flatten out, and then begin to increase like normal, don’t you? Or do you believe our prices are going to drop forever? At some point, there has to be a bottom…

By: John

John — Fri, 28 Dec 2007 22:05:47 +0000

Ha ha ha. very nice stat, Merry Christmas

By: Rick Marnon, Howell

Rick Marnon, Howell — Fri, 28 Dec 2007 21:27:51 +0000

Home prices won’t be getting any better anytime soon, because of the number of foreclosures that are still out there. We need to start creating more jobs which in turn would allow more people to pay their mortgages, cars, and vacation. These are all things that help the market move in a positive direction.

How do companies export jobs, and then later complain that they are hurting because their profits have dropped. Well I think that it is pretty self explanitory that when you take jobs from those that buy your stuff, then the next step is that you will eventually start to struggle because no one can afford your product.

Our corporate world needs to keep in mind that in order to maximize profits we need to have people working that want that product. Not pay someone else less money that doesn’t want to buy what you are selling.