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| Home Front Economy |
| Silver lining on home prices |
| 2008-08-21 |
| Steadily declining prices made the second quarter the most affordable for homes since 2004, with Indianapolis leading as the nation's most affordable region. |
| Posted by:Fred |
| #7 If there's no limit on how many Mikes they'll accept, I might have to join Mike in the Carolinas! |
| Posted by: Mike N. 2008-08-21 12:51 |
| #6 We sold and bought last year just as the housing market started its collapse. Fortunately we found a good buyer for our old home. We took a beating on selling our house; we figure we got ~ $70K less than we could have the previous year (good Chicago suburb). Then again, the house we bought was also ~$70K less than it would have sold for the previous year. So if you're selling and buying, the issue is the split between the two (as usual). The people I feel for are the ones who have to sell for one reason or another and who aren't buying another home. They're the ones taking a beating. |
| Posted by: Steve White 2008-08-21 09:31 |
| #5 Yep, House price inflation is NOT good for the economy. |
| Posted by: Bright Pebbles 2008-08-21 09:02 |
| #4 U.S. median income - $61,500 Median Income in Indianapolis- $65,100 Median Income in New York- $63,000 Median Home price in Indy- $108,000 Median Home price in N.Y.- $481,000 Those numbers tell a sad story indeed for N.Y. I had several classmates in C.E. that got jobs in Indy before graduation. The economy there must actually be built on something real. |
| Posted by: bigjim-ky 2008-08-21 08:14 |
| #3 Good luck, Mike. That sounds grand. |
| Posted by: trailing wife 2008-08-21 08:00 |
| #2 ...I'm trying to figure out why (Fill In The Blank) is always listed as "the nation's most affordable region" - c'mon down here to central SC, where prices have been in freefall for a couple years now. As soon as I meet my employment requirements for a VA loan, I'll be able to pick up a couple of acres with a 1700 sq.ft house on it for about $750/month. Mike |
| Posted by: Mike Kozlowski 2008-08-21 07:05 |
| #1 Yes, but the problem is, so few are taking advantage of the opportunity! Perhaps that's because they can't sell what they have, to move up. |
| Posted by: Bobby 2008-08-21 06:01 |