Article

2009-04-01 Economy

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Posted by Fred 2009-04-01 00:00|| || Front Page|| [1 views ] Top

#1 HMMMMMMM, thought so, but CNN + CNBC still repor sales going for pre-Recession = US$500K-or-Higher prices.

Posted by JosephMendiola 2009-04-01 00:50|| 2009-04-01 00:50|| Front Page Top

#2 Are the average prices affordable to the average homebuyer yet? Didn't think so. Wake me up when they get to that point.

Posted by Anguper Hupomosing9418 2009-04-01 02:33|| 2009-04-01 02:33|| Front Page Top

#3 Actually what I've personally found as good rule of thumb to find out if property is overpriced in your area is look at rental income versus property pricing on triplexes and duplexes in your area. For example if a triplex in your area costs 1 million to buy and takes about 30 years to pay off from just the rent (in the best case analysis) you're WAAAAY overpriced for the property there.

Posted by Valentine 2009-04-01 04:40|| 2009-04-01 04:40|| Front Page Top

#4 'Record fall' usually comes after 'record inflation' when it comes to real estate. Anyone who thought that their house's value had tripled or quadrupled permanently has no knowledge or history.

At some point, with real estate as well as everything else, we'll get to an organic base price and organic increases/decreases based upon location and a healthy (not overblown or blown apart) economy. I'm guessing that it won't be for another year or two at minimum nationally.

Posted by no mo uro 2009-04-01 06:35|| 2009-04-01 06:35|| Front Page Top

#5 Does it really take anyone at the bank or lending institution much effort to find out what the median income is for an application locale, then do the math of 10/20% down and 30-40% of the income for housing to figure out what is a 'sustainable' housing price. Even calculating growth by raising the bar to 10/20% above that median, a honest analyst still couldn't justify the loans that banks et al were writing. All parties ignored proven principles.

Posted by Procopius2k 2009-04-01 09:29|| 2009-04-01 09:29|| Front Page Top

#6 Women, children, and the poor hardest.... Wait a sec? Who's the victim here, I gotta know so I know who to cry for. Wow, being such sensitive liberal is really hard sometimes.

Posted by AlmostAnonymous5839 2009-04-01 14:01|| 2009-04-01 14:01|| Front Page Top

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