Tuesday, April 3, 2012

US have hidden their foreclosed homes

Home Prices Seen Dropping 10% in U.S.

'Sales of repossessed properties probably will rise 25 percent this year from 1 million in 2011, according to Moody’s Analytics Inc. Prices for the homes could drop as much as 10 percent because they deteriorated as they were held in reserve during investigations by state officials'

Posted by will @ 09:05 PM (1098 views)
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One thought on “US have hidden their foreclosed homes

  • Some great comments. I particularly liked this one for its similarity to what’s happening/in store here:

    1) no job security for anyone, very high unemployment (18%)
    2) foreclosure wave yet to hit the shores
    3) taxes/fees/ interest rates to increase significantly to pay off muni debt and overspending
    4) enormous student debt for would-be buyers
    5) boomers selling and downsizing/moving to a community
    6) 25% down required
    7) frequent job changes/relocations trend… no 30 year jobs anymore
    8) household formations decreasing, later in life marriage/kids
    9) tight credit, destroyed credit for most people

    Can anyone name a positive home price metric? I am at a loss. Because the prices are slightly lower than the absurd, irrationally exuberant bubble-peak does not count.

    A comment added to this one states: You can add ever increasing energy costs.

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