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House Price Crash Forum
Buffer Bear

A West Palm Beach Gated Community

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I've just returned from Florida. At the peak selling prices in this development were in the region of $400 - $450 for a 3 bedroom house. The most recent property sold for $212k. Luckily my family members bought prior to the boom. Many of the current 'homeowners' in the development did not. We also looked at one house going for $750k at the peak that won't even sell at $300k. My cousin would like to trade up and buy it but he can't get finance or sell his house!!

Although this is anecdotal, I saw plenty of properties (Jupiter, Boca Raton, WPB and Miami) that have reduced massively in price since my last visit in 2005.

I see no reason why the same thing will not be happening here................20% falls suck! There is more to come so I will continue to wait patiently............

Edited by Buffer Bear

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Trouble is we haven't even seen 15% falls yet I think .... and thats in two years.... it may well be a very long time before falls of a much greater degree than 20% emerge. I too think they will, but I have come to the conclusion they will take ages so its hardly worth bothering with.

Loads would benefit from a quick and severe correction... very few I suspect will be helped by a long and slow one.

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It's Time To Take Responsibility, The bankers that is for the fraud
Has everyone round here let Brown off the hook? Spin must be working!

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