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The Masked Tulip

29 Absolutely Crazy Statistics About The Us Housing Crisis

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http://www.marketoracle.co.uk/Article27803.html

Here is the first dozen. Interestingly, I can recall people being desperate to buy a house in Merced.

#1 During the first three months of this year, less new homes were sold in the U.S. than in any three month period ever recorded.

#2 Home prices just keep falling month after month. The Standard & Poor's/Case-Shiller 20-city index has fallen for seven months in a row.

#3 U.S. home prices have now declined 32% from the peak of the housing bubble.

#4 In Phoenix, Arizona home prices are now down 56% from the peak of the housing bubble.

#5 Home prices in Las Vegas, Nevada are now down 58% from the peak of the housing bubble.

#6 Nearly 70 percent of all Las Vegas mortgages are now underwater.

#7 Due to the housing crisis, there are now more than 167,000 vacant homes in the state of Nevada.

#8 It is estimated that 25% of all mortgages in Miami-Dade County are "in serious distress and headed for either foreclosure or short sale".

#9 According to a recent census report, 13% of all homes in the United States are sitting empty.

#10 According to the U.S. Census Bureau, 18 percent of all homes in the state of Florida are sitting vacant. That number is 63 percent larger than it was just ten years ago.

#11 In the city of Detroit alone, there are more than 33,000 abandoned homes.

#12 The average home in the city of Merced, California has declined in value by 63 percent over the past four years.

Rest at http://www.marketoracle.co.uk/Article27803.html

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Indeed, and when we start to generate statistics like the US, there'll be alot of very scared people.

that'd be the day!

the crooks in charge are doing everything they can to keep this charade going- they'll come up with some crazy schemes to support house-debtors:)

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I find it very amusing that the web is flooded by American bloggers/forum posters who in all likelyhood never traveled abroad and don't even have a passport, ranting about the end of the American dream and collapsing living standards.

Right now, you can pick up a well appointed fully detached three bedroom house with garage and garden, in a nice clean area with good schools within commutable distance of NYC for under $500,000.

I'd like to see these interweb "sages" try to live and work in Europe for a while to give them some perspective on house prices and purchasing power, then ask them how they feel about things back home :rolleyes:

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that'd be the day!

the crooks in charge are doing everything they can to keep this charade going- they'll come up with some crazy schemes to support house-debtors:)

Why weren't the crooks in charge in the US successful in keeping the charade going there?

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Why weren't the crooks in charge in the US successful in keeping the charade going there?

er liar loans? higher repo levels than here in the UK? i think the north has problems, here in london there aren't too many falls- if a decent house/flat goes up for sale, you can be pretty sure it'll sell within a short space of time- days! there are plenty of folk around here ready to pounce

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I find it very amusing that the web is flooded by American bloggers/forum posters who in all likelyhood never traveled abroad and don't even have a passport, ranting about the end of the American dream and collapsing living standards.

Right now, you can pick up a well appointed fully detached three bedroom house with garage and garden, in a nice clean area with good schools within commutable distance of NYC for under $500,000.

I'd like to see these interweb "sages" try to live and work in Europe for a while to give them some perspective on house prices and purchasing power, then ask them how they feel about things back home :rolleyes:

If you haven't seen any increase in income above inflation for the past 15-20 years, then it's hard to blame people for complaining, especially if you now owe considerably more on a mortgage then the market price of your house. The middle class in the US used to enjoy a clear advantage in living standards over those in Europe, but that's no longer true.

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Why weren't the crooks in charge in the US successful in keeping the charade going there?

I'd guess it was because the housing bubble in the US was accompanied by a glut of new construction but in the UK while houseprices rose at record speed new construction actually fell to its lowest level in 70 years due to the miracle of planning departments.

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Why weren't the crooks in charge in the US successful in keeping the charade going there?

Maybe they haven`t had a flood of Eastern European crooks coming in and buying for cash.

A house round the corner from my mother just sold and, apparently, the Poles that bought it turned up with £80k cash in a bag.

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Maybe they haven`t had a flood of Eastern European crooks coming in and buying for cash.

A house round the corner from my mother just sold and, apparently, the Poles that bought it turned up with £80k cash in a bag.

Doesn't sound likely does it.

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...

Right now, you can pick up a well appointed fully detached three bedroom house with garage and garden, in a nice clean area with good schools within commutable distance of NYC for under $500,000.

...

$500K sounds pretty expensive to me. I wonder what the taxes would be on that down in Westchester, Rockland, or LI? Thank goodness I don't work in NYC.

(BTW -- I haven't had a passport since about 1977, and have no intention of ever getting another. :) )

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that'd be the day!

the crooks in charge are doing everything they can to keep this charade going- they'll come up with some crazy schemes to support house-debtors:)

Yep, I feel the same, but I do think with us being broke, and trying to balance the books, this will have to stop, be curtailed at some point.

er liar loans? higher repo levels than here in the UK? i think the north has problems, here in london there aren't too many falls- if a decent house/flat goes up for sale, you can be pretty sure it'll sell within a short space of time- days! there are plenty of folk around here ready to pounce

Yeah buying houses in places they wouldn't have looked at ten years ago. I don't see much selling quickly though. Most people stick it on the market at a good asking price and don't get many bites. See shedloads of stuff on rightmove just sticking around for ages.

I'm waiting for this current slide to start gaining momentum. I'm sure we have yet to see the snowballing effect kick in. As the market seem to have been edging down of it's own accord, and quite a few people haven't really noticed spring bounce coming back down.

Nice to see the haliwide graph mirroring the case shiller.

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that'd be the day!

the crooks in charge are doing everything they can to keep this charade going - they'll come up with some crazy schemes to support house-debtors mal-lending bankers and their peri-pheral financials)

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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