http://www.usatoday.com/printedition/news/20081212/1ahouseprices12_cv.art.htm
Great article, thanks for posting.
I recently saw this exchange on another blog somewhere and got a chuckle out of it:
Maricopa is not a fun place to go these days. Way out in BFE and houses for sale as far as you can see.
I think that it could take decades for the whole economy to change. As much as I hate to say it we are going to have another depression that is going to make the 1930’s look pretty good. The biggest problem is that we are not going to have another world war pull us out of it. The next world war will be the end of this planet as the way we know it now. On a positive note I am glad that I am older as I could leave this world tomorrow and have no regrets.
There is no doubt things are going to change.
Reality had to take hold at one point.
The USA has been resting on it’s laurels for a long time.
Wake up call was needed.
Home values are not really low, they are just back to where they should be.
Exactly!
When I went looking for a home in 1999 - 2000 it was crazy and had just began. Homes barely hit the market, many did not, and already buyers were offering 5% over asking price. As you can guess the rest is history.
Home prices never should have reached the levels they are/were today. That also goes for the value of stocks in the stock market. Here is another reason why all of this is in such bad shape. It is another story of a new breed of super thief.
On January 20, 2009, all will be well. Right?
Yep, immediately. You won’t even know where you’re living on the 21st. :roll: You’ll see nothing but rainbows, blue skies and the occasional unicorn.