Monday, Dec 15, 2008
Housing market is now taking one almighty hit - how can the UK escape whats coming?
usatoday.com: Why home values may take decades to recover
Rick Wallick moved into a new, three-bedroom $200,000 home in Maricopa, Ariz., in October 2005. Today, the home is worth $80,000.
Posted by v stor @ 06:24 PM (725 views) Add Comment
4 Comments
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1. japanese uncle said...
House prices need not 'recover' at all. Workers must be able to buy say decent three-bed house at $30K-$50K, first of all. So the 'bottom' should be the norm.
2. crunchy said...
1. japanese uncle
Right.
But does that mean banks/Government will not make as much profit and the taxpayer will have more quality time.
The wife may even take a part time job and nurture.love. and educate their children in finance and so forth.
But damn our Banks and Government keep making those silly mistakes that are making things harder and harder to acheive these basic needs.
If only we had someone that knew what they were doing in power.
Hey we can elect someone else. WE HAVE A CHOICE don't we?
We somehow just keep getting it wrong, don't we?
3. crunchy said...
I have a great idea.
Maybe if we made the same mistakes as mentioned above we could be as powerful and dominant.
Oh silly me. I am not making any sense.
4. paul said...
So then decades of stagnating property values, followed by falling real income and falling prices?
Should sound familiar, JU?