Poll: for people with money only

[pico]

what year will the housing market hit bottom? 2010,2011,2012,2013,2014,2015,2016, or later

[jjgold]

I say sometime this year or early next year

I cannot see economy going to much lower unless we hit a depression and then everyone fukked

[wtf]

this is a joke, housing prices go up 300% over the past three years

now they go down 20% and everyone is freaking out, too fukin bad

[sickler]

Pico, you are cruel.

A real estate financial analyst with an expensive white powder habit and paying alimony and child support to his 4 ex-wives and 12 children isn't welcome to answer your question because he's been drained of money.

[sickler]

Pico, you elitist prick....explain yourself....

[accuscoresucks]

diffrent everywhere but i say
2014

[pico]

Pico, you elitist prick....explain yourself....

people don't have money won't have anything to invest. so the answer is a moot point.

[sickler]

people don't have money won't have anything to invest. so the answer is a moot point.

Having money isn't the precursor to knowledge.

The title can be taken as "This poll is only for people with money".

I'm not in the poorhouse, it just reads funny.

[accuscoresucks]

State unemployment, November 2008«click column headings to re-sort table»Rank State Rate 51MICHIGAN9.650RHODE ISLAND9.348CALIFORNIA8.448SOUTH CAROLINA8.447OREGON8.145DISTRICT OF COLUMBIA845NEVADA844NORTH CAROLINA7.943GEORGIA7.539ALASKA7.339FLOR IDA7.339ILLINOIS7.339OHIO7.338MISSISSIPP I7.237INDIANA7.136KENTUCKY735TENNESSEE6. 934MISSOURI6.733CONNECTICUT6.631MINNESOT A6.431WASHINGTON6.429ARIZONA6.329MAINE6. 325ALABAMA6.125NEW JERSEY6.125NEW YORK6.125PENNSYLVANIA6.124MASSACHUSETTS5 .923COLORADO5.819ARKANSAS5.719IDAHO5.719 TEXAS5.719VERMONT5.717DELAWARE5.617WISCO NSIN5.615LOUISIANA5.315MARYLAND5.312HAWA II4.912KANSAS4.912MONTANA4.911VIRGINIA4. 810OKLAHOMA4.79WEST VIRGINIA4.66IOWA4.36NEW HAMPSHIRE4.36NEW MEXICO4.34NEBRASKA3.74UTAH3.73SOUTH DAKOTA3.42NORTH DAKOTA3.31WYOMING3.2Source: Bureau of Labor Statistics NOTE: Rates shown are a percentage of the labor force. Data refer to place of residence. Estimates for the current year are

[mmike032]

my livelyhood depends on the housing market and its not looking good where I live. However the market will vary depending on where you live. I've talked to some old timers and they say this is the worst its been since the early 80s. but the housing market goes through cycles about every 10 yrs. this just happens to be a more than average down time due to Clintons' brillance of passing bills to get every Tom Dick and Harry into a house regaurdless if they could afford it or not.
now we have to deal with the repercussions of this.

The market is near bottom now, within the next 2 years it will turn around. So if your an realstate investor and have the money to sit on than it wouldnt be a bad choice to go ahead and buy properties and sit on them untill you feel you can make enough profit.

the market wil come back but dont expect anything like before. IMO the market will be more stable in the future since so many banks got burned with loans.

[daggerkobe]

My father is in real estate and he says it's a disaster right now.

He showed me couple of properties where they were selling for $200-$300k previously but now are $50-75k!!!!

He also has several properties up for sale but no one even comes to look at them.

He thinks it'll be at least 2 years before we see any improvement.

Fvcking Bush.

[mmike032]

My father is in real estate and he says it's a disaster right now.

He showed me couple of properties where they were selling for $200-$300k previously but now are $50-75k!!!!

He also has several properties up for sale but no one even comes to look at them.

He thinks it'll be at least 2 years before we see any improvement.

Fvcking Bush.

you can thank Clinton for this mess. Bush didnt help the economy but he had nothing to do with the housing market. This is the effect of the Clinton administration.
Sure the housing market boomed due to Clinton but it was bound to fail sooner or later because you cant give out loans to people that cant afford the loan.
"For every action there is an equal and opposite reaction"

[Dark Horse]

Very difficult to say. Experts all have their opinions, but they get paid for having an opinion. Nobody knows for sure how deep the present economic crisis really is.

As far as housing, it also depends where your house is. In California new home owners are f*cked. Those houses (overpriced before) have lost so much value that they can't sell without taking a big loss. In my neck of the woods things are better. Houses have more or less retained their value; at least for the time being.

Bottomline. We can not have our economy back as long as the private owned Fed prints our money. The Fed has deep connections with the Zionists. And so they bailed out their own (700 billion bail out, with a sky-rocketing, manipulated oil price as blackmail) without any stipulation that the banks were expected to extend loans to the people. So they're just sitting on that money. Why wasn't that money given to the People instead?!

[daggerkobe]

Clintons' brillance of passing bills to get every Tom Dick and Harry into a house regaurdless if they could afford it or not. now we have to deal with the repercussions of this.

The Securities and Exchange Commission (SEC) has conceded that self-regulation of investment banks contributed to the crisis. The SEC relaxed rules in 2004 that enabled investment banks to substantially increase the level of debt they were taking on, fueling the growth in mortgage-backed securities supporting subprime mortgages.[10][11]

In 2004, HUD ignored warnings from HUD researchers about foreclosures, and increased the affordable housing goal from 50% to 56%. The MBS were very attractive to Wall Street, and while Fannie and Freddie targeted the lowest-risk loans, they still fueled the subprime market as a result.[40] Subprime mortgage loan originations surged by 25% per year between 1994 and 2003, resulting in a nearly ten-fold increase in the volume of these loans in just nine years.[41]

President Bush advocated the "Ownership Society." According to the New York Times, "he pushed hard to expand home ownership, especially among minorities, an initiative that dovetailed with his ambition to expand the Republican tent — and with the business interests of some of his biggest donors. But his housing policies and hands-off approach to regulation encouraged lax lending standards." He insisted that Fannie Mae and Freddie Mac (the GSE) meet low-income housing goals and advocated government loans to help low-income homeowners make down-payments. The Bush administration also replaced Fannie and Freddie's chief regulator in 2003 immediately after the regulator published a report warning of the risks posed by the GSE.[55]

Stupidity of Neonitwits.

[Chi_archie]

I think bottom is near....BUT we will stay plataued at a very low level for a long long time.... maybe till 2010 or 2011 and we will not see the prosperity or growth curve we saw earlier this decade.

And like alot of people said, it depends where you live... some parts of chicago for instance are doing well still.....and if Chicago finds out next summer that we will have the 2016 Olympics, then we will see some huge growth in new properties, rehabs and certain prop values will sky rocket....

[Starion]

It will take time to work through the housing mess. The more government intervention there is, the longer it will take. The market needs to work through the excess.

Housing was absurdly valued a couple years ago. Rather than speculating on a "bottom", it's better to look for the point where the ratio between income and housing is back in line with previous norms. If you're looking for a recent comparison. Take a look at Japan, their housing collapsed after a huge run-up very similar to ours. They still haven't recovered decades later.