Sunday, January 14, 2007

Housing market pain not relieved by spin

Housing market pain not revealed by stats

We hear lots of stories about the pain in the US: An Indiana man writes to say he can't sell his house even asking less for it than he paid - four years ago. A Duluth, Minnesota, writes, "The housing market is brutal, has been for months. Prices dropping at least $20,000, some as high as $60,000 just to get them sold. Most aren't selling even with the drop."

Posted by harold @ 03:05 PM (551 views)
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7 thoughts on “Housing market pain not relieved by spin

  • Sleep well tonight, UK buy-to-let bandwagoners! Tomorrow brings new .. erm … challenges!

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  • Yes, don’t forget the double whammy of IR rises. Stronger pound – less competitive exports to our major partner, the US + higher cost of borowing for business.
    It’s coming here soon and much worse!

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  • Slight major difference with the United States and the UK, the US can build itself out of a problem, we can’t so prices will continue to rise.

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  • Don’t worry Paul we will.

    The 6 properties that i have in my portfolio are all doing just fine thanks. Technically that should be 7… but just accepted an offer on my Greenwich apartment to a FTB for 240k bagging me 26k in 3 months:) and i only spend 2.5k doing it up over 3 weekends LOL. Easy money,

    CANT lose if you know what your doing – LOSERRRRRRRR.

    Just join the bandwagon – BUT YOU NEED BIG BALLS, booked my tickets for the property show and looking forward to seeing what other investment opportunities are awaiting. Have you?

    AKA: SIGNET

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  • When the bulls start posting bravado comments you know it’s all over!
    And David, I think you half understand the supply and demand issue but have failed to understand it is supply of cheap credit and not properties that drives prices!

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  • fatboyslim,

    Do continue to post over the coming years old boy. Sounds like you are sleeping well at night despite the social destruction you have contributed towards so admireably, and indeed despite your own pending bankruptcy.You must pop back from time to time and let us know how it all pans out for you.
    I hope you have as much fun at the property show as the property show will likely have with you.

    PS You don’t ‘own’ 6 properties, you own a large debt, and ‘long’ position in something the ‘big boys’ are now shorting. Big balls indeed my friend, big balls indeed.

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  • george monsoon says:

    I was going to post something deep and meaningful, but Ticktock has said it all…

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