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Here in SoCal they're falling, but that's not a bad thing. People were buying homes, holding them for a month or so, then selling them for a profit. It turned into a massive real estate greed-a-thon. We bought ours after the peak passed. The near-term sale value went down a bit, but as long as people want to live here they'll never drop too low. As far as our house in the Shoals goes, I'm pretty sure it's down about as low as it can be. But home prices like a lot of the economy is based upon perception and confidence. If enough people believe the prices will go up, then they'll go up. It's a self-fulfilling prophecy.

I find it hard to feel sympathy for the flippers who were left without a chair when the music stopped. I have somewhat more sympathy for the poor fools who bought into a crappy mortgage, but that'll settle out as well. I'm just against the Government using MY money to bail them out.
The cities with the highest crime rates are losing the most value. The cities with lower rates are losing less, and in several cases in the ten cities listed, gaining value.

Can't say as I blame people. I wouldn't want to live in Detroit, Washington DC or San Francisco either. People have been moving out of the inner cities for the past several years.

Besides, 10 cities out of the entire United States is a pretty small percentage to base a claim on.
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Originally posted by PBA:
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Originally posted by vick13:
Where do YOU live? Ain't happening here.



U.S. home prices in major cities are falling. Read the article please!


PBA, overall you are right. But Vick was referring to here. Not knowing where you are, here means Alabama. And Vick is right. Read the Decatur Daily. NBC Today just did a show on the real estate market and mentioned you could get a lot of house for the $$ there. They plan to do another, yes another, segment on Tuesday or Wednesday morning. Please watch.
quote:
quote:
Originally posted by vick13:
Where do YOU live? Ain't happening here.



U.S. home prices in major cities are falling. Read the article please!

Posts: 5773 | Registered: 11 December 2006

We're in McCalla. There are 600 houses being built beside us and 500 more within three miles. Everyone of these 1500-1800 sq foot houses are going between $170 and 250,000. And they are for the most part presold right now, before construction.
This brought to mind recent economic development in Ala which results in the need for houses... the rail car plant in Colbert Co, BRAC in Huntsville, and Krupp steel in LA. New jobs = new homes.

National news media often referenced by PBA often disregard the South unless the news is negative or redneck funny.

I remember when Mack Truck left PA and relocate in Winnsboro SC, a town of about 20,000. Imagine the negative impact on PA compared to the positive in SC and which news got the national headlines and which news got the local headlines.

The story about real estate in Decatur started when the NBC Today real estate reporter was comparing what you could get for the money in various parts of the country. A home in Morgan County they reported as being in Decatur {it ain’t} as a best buy. But the schools were bad. Decatur politicians and educators protested the comments and “invited” Today to come back and take another look around. Today agreed and is sending the same real estate reporter back. It’s supposed to air sometime next week.

BTW, I read 4 daily and one weekly local newspapers.

Personally, it’s this kind of local news I’m most interested in and why I joined the TD forum so I could gain insight from locals not covered in newspapers.

There are those who would point out that what happens nationwide will eventually effect Ala. Well, maybe, but not anytime soon. We all know Ala is 50 years behind the times. LOL
quote:
Originally posted by vick13:
Where do YOU live? Ain't happening here.



You might would have seen how it is happening all over the country if you watched 20/20 last night. It went in to detail about how house prices are dropping so fast that the insurance companies and the rich are sitting back like little evil demons waiting for it to hit rock bottom by around spring. I donot see it happening too bad here yet but it is happening and I think it is going to hit alabama in the way it has bigger cities and will leave all of us speechless. It willnot hurt the rich people but people who just live day to day and make thier ends meet are going to feel it very soon. The people it is going to do major damage on are the ones who bought 3-6 years ago and could afford it before prices on everything started rising and now are having a harder time of it, and soon they will not be able to afford it and food and gas and basics. Read the daily USA Today and you can see for yourself the daily drops in the housing markets and who is controling it. When it comes to law school and keeping my house I will have to take time off and get back to work full time because my husband and my little girl and home is first.
quote:
Originally posted by vick13:
I'm still having culture shock about the difference in what you get for your money here as opposed to the Shoals.


You never spoke TRUER WORD'S Mz.Vick13, the prices here are GREAT compard to Florida, that I know for a fact.

Don't tell anyone was our (the people living there then) slogan in Navarre, Fl. a few years back, but the word got out, and prices took off to astronomical hights. Then Hurricane "Ivan" tore through, and prices there now have made a steady decline eversince because of the rediculas insurance rates. I'm just glad I cashed out when I did though, I was one of the lucky few who didn't lose too much value on my home in the Swamps of Navarre. Big Grin

Semper Fi!Carry on Citizen's!)
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Originally posted by Delldude:
quote:
Originally posted by vick13:
I'm still having culture shock about the difference in what you get for your money here as opposed to the Shoals.


You never spoke TRUER WORD'S Mz.Vick13, the prices here are GREAT compard to Florida, that I know for a fact.

Don't tell anyone was our (the people living there then) slogan in Navarre, Fl. a few years back, but the word got out, and prices took off to astronomical hights. Then Hurricane "Ivan" tore through, and prices there now have made a steady decline eversince because of the rediculas insurance rates. I'm just glad I cashed out when I did though, I was one of the lucky few who didn't lose too much value on my home in the Swamps of Navarre. Big Grin

Semper Fi!Carry on Citizen's!)



SHHHHHHHHHHHH, don't tell anyone that it hasn't grabbed us yet!!!! I don't want to see the vultures invading our area. Big Grin

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