Fairies Wear Boots Posted February 22, 2011 Report Share Posted February 22, 2011 I reckon it's because we don't have an abundance of saleable, liveable houses. They built stacks of McMansions, we've been building slave boxes and chopping decent size houses into two and haven't been keeping up with rampant immigration. They have stacks of people who can't pay their mortgage after their teaser ran out. That would only happen to someone here if they lost their job (i.e. no teasers, and what people are on now should be at least as cheap as what they started out with). And if you lose your job, in some circumstances we have smi. Quote Link to post Share on other sites
Realistbear Posted February 22, 2011 Author Report Share Posted February 22, 2011 Gordonism, I like it. (the term, not the actual economic policy) How about Gordian? Keynsian Austrian Gordian Yes: GORDIAN-- an understanding of economics that..hang on, lets make this easier. How about: GORDIAN: the non-understanding of cause and effect in economics. Quote Link to post Share on other sites
Realistbear Posted February 22, 2011 Author Report Share Posted February 22, 2011 (edited) What you say is oh so very true, but not relevant to what the op said. The title of the thread says U.S. market is dropping at fastest rate fior 12 months.... so why not here? I merely pointed out that what he asks for in the thread title is already happening. There was no mention of where we are from peak. The reason I did so was because poor old RB has had a spell of flitting from bear to bull and sometimes he isnt sure what to think. I was just making sure he was fully appraised of the facts, as no one else had pointed out that what he wants is already happening. Bear to neither! The market is falling much like the US (at least around my way according to observed ZOOPLA drops) but we are nowhere near the wonderful scenario presented in the US where prices in the hot spots are down more than 50% (California, FL, AZ, NV). Edited February 22, 2011 by Realistbear Quote Link to post Share on other sites
swissy_fit Posted February 22, 2011 Report Share Posted February 22, 2011 Bear to neither! The market is falling much like the US (at least around my way according to observed ZOOPLA drops) but we are nowhere near the wonderful scenario presented in the US where prices in the hot spots are down more than 50% (California, FL, AZ, NV). Trouble with the US is getting a visa to live there and the cost of healthcare.Not much point having a cheap house if you spend all your income on healthcare insurance. Can you get a health policy in the US which covers emergency only? If you can, then you could take out another policy for everything else in another more reasonably-priced country. Quote Link to post Share on other sites
Deckard Posted February 23, 2011 Report Share Posted February 23, 2011 And UNEXPECTEDLY... Sales of U.S. Existing Homes Climb to Eight-Month High Feb. 23 (Bloomberg) -- Sales of U.S. previously owned homes unexpectedly rose in January to the highest level in eight months, led by rising demand for distressed properties as investors take advantage of decreasing prices. Wanna sell your property? Drop the effing price Quote Link to post Share on other sites
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.