Real Estate Prices with excess supply

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  #76  
Old 02-19-2008, 10:27 PM
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Default Re: Real Estate Prices with excess supply

A house down the street just sold for 20% less than it did 2 yrs ago.

I think a speculator bought it in Dec 05 and walked away from it.

At least two other homes on the block are empty also for probably the same reason.
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  #77  
Old 02-20-2008, 02:35 AM
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Default Re: Real Estate Prices with excess supply

It looks to me like the market will continue to decline for some time to come. I remember the 80's and 90's , it took a long time to recover, and the flow of people to TV has slowed. The east coast of Fl. has been devastated by the decline in buyers. This hasn't been felt to the same extent here, but it may unless things pick up. It is always a matter of supply and demand, plain and simple. Right now the banks are holding alot of bad paper (mortages), they have to some extent absorbed some of the housing price decline ( in effect). But at some point the market will stablize and this excessive debt will be removed frome the market. In the past this I believe was done by the value of the dollar going lower againt other currencies, and investors from other countries buying into the U.S.A. Look at Sony, Honda just to name a few but there are lots more.Sorry to ramble, bottom line, don't see the light at the end of the tunnel, this may take years to unravel in the mean time the only bright spot is road construction, everything else is declining
  #78  
Old 02-20-2008, 02:48 AM
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Default Re: Real Estate Prices with excess supply

In addition to roads - hospital construction is currently booming in CA.
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  #79  
Old 02-21-2008, 06:27 AM
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Default Re: Real Estate Prices with excess supply

So has anyone heard the TV foreclosure rate?
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  #80  
Old 02-21-2008, 07:33 AM
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Default Re: Real Estate Prices with excess supply

Quote:
Originally Posted by diskman
So has anyone heard the TV foreclosure rate?
I would be very surprised if it was substantial at all. Of course, I have absolutely no facts to back up this statement, but I'm an American. I don't need to know nothing to have an opinion. :dontknow:
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  #81  
Old 02-21-2008, 11:38 AM
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Default Re: Real Estate Prices with excess supply

According to this Olrando Sentinel website there are only a few home in TV in default:

http://www.orlandosentinel2.com/data...y=The+Villages

  #82  
Old 02-22-2008, 12:37 AM
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Default Re: Real Estate Prices with excess supply

Quote:
Originally Posted by Muncle
I'm an American. I don't need to know nothing to have an opinion. :dontknow:
Of all the posts I have read over the months, I had to register to reply to this one liner. To this I say How true this is today, more so that yesterday, or any other day in history. A famous man said that. :bigthumbsup:
This is my first try, hope it works.
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