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hunthunthunt

Prices Drop 50% In Us (florida)

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"It's not fair!"

Ha ha! Suckers! You bought at the market value, and the market value changed! Deal with it!

Even at $300k the houses seemed good value, compared to the rabbit hutch it would buy here for the same money. Its almost tempting to move to the states!

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Even at $300k the houses seemed good value, compared to the rabbit hutch it would buy here for the same money. Its almost tempting to move to the states!

Thats what I thought. $300 (£150k) for a detached 4 bedroom house with swimming pool and double garage!!!

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In previous crashes we would have expected a few years before we had this sort of drop and the USA isn't even in recession. It just shows you how specualtive property has got and the ironic thing was there were alot of actual homeowners living on that estate, its not appartments and all investors. In effect is this reduction a soft landing and the true crash is yet to come. I don't think we realise how big a bubble we are sitting on. Looking at propertysnake.co.uk some houses ( a few at least) over here are dropping their prices 20% to 40% with just .25% interest hike. Are going into unchartered territory and if we hit recession would the earlys 90 crash be a soft landing in comparison. Is it feesable what you pay now may take 20 years to come back to the same price. The early 90s took 10 years but the boom was not as crazy as has been this time around.

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Ah, it's the 13th of June 2008, the same video with English accents is all over the news here. Lovely :P

Imagine you were thinking of buying any house anywhere in the US and you saw that...would you a) pause for a bit or B) get them to knock another 30% off?

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Things could get much worse as we’re 10 to 12 months away from the peak number of mortgages that were taken out on a two year fix resetting to much higher variable interest rates. That could indicate that the peak for the numbers of repos/distressed properties coming onto the market may not be until late 2008 (allowing for a six month lag from peak reset). With inventories of new and resale properties still building in many areas the bottom may not come for a while yet.

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Things could get much worse as we’re 10 to 12 months away from the peak number of mortgages that were taken out on a two year fix resetting to much higher variable interest rates. That could indicate that the peak for the numbers of repos/distressed properties coming onto the market may not be until late 2008 (allowing for a six month lag from peak reset). With inventories of new and resale properties still building in many areas the bottom may not come for a while yet.

Spot on. As usual, you will finally get a house for a couple of gold coins.

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