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Home Prices Probably Had Biggest 12-Month Drop In A Year


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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.

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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.

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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 by Realistbear
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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.

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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 :D

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