Article

2012-04-28 Economy

Falling Home Prices Drag New Home Owners Under Water

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Posted by Snoter Speating5571 2012-04-28 00:00|| || Front Page|| [11129 views ] Top

#1 In related news: Thirty-five big U.S.-based multinational companies added jobs much faster than other U.S. employers in the past two years, but nearly three-fourths of those jobs were overseas, according to a Wall Street Journal analysis.

Posted by Anguper Hupomosing9418 2012-04-28 00:25|| 2012-04-28 00:25|| Front Page Top

#2 Recent home loaners who thought they were buying at the bottom of a doomed housing market turned out to be catchers of falling knives. Hard to be left holding the bag when your fingers have been cut off.

Posted by Anguper Hupomosing9418 2012-04-28 00:32|| 2012-04-28 00:32|| Front Page Top

#3 If they bought the homes to live in and not as an investment they might be OK in 10 years. If they don't lose their job.

Posted by tipover 2012-04-28 01:31|| 2012-04-28 01:31|| Front Page Top

#4 To complicate home purchasing even further, try buying a "short sale" property. The price as listed may NOT be the actual price if the lending institution does not "approve" the sale, the approval of which can take months. I suspect the bank must get gov't assurances that their loan will be restored, and that is the old up.

The housing market in Georgia has YET to bottom out as many houses remain empty, abandoned and unlisted. Evidently the banks (or gov't) do not want to flood an already fully saturated market.

Posted by Besoeker 2012-04-28 06:53|| 2012-04-28 06:53|| Front Page Top

#5 I like the Austrian school view. Houses are getting more affordable. This is good.

Posted by Bright Pebbles 2012-04-28 07:17|| 2012-04-28 07:17|| Front Page Top

#6 I agree BP. Isn't it interesting though, the "rules" they just keep changing:

~~1. I put money in the bank and earn interest.~~
~~2. I take out a US Savings Bond each month.~~
~~3. My company has a pension plan.~~
~~4. I prefer 12 month CD's~~
~~5. My home is also an investment.~~
~~6 My 401k plan is growing nicely.~~
~~7. My PMI is tax deductable.~~
~~8. The Alternativer Minimum tax does not effect me.~~
~~9. The sale of my house is tax exempt.del>~~

Posted by Besoeker 2012-04-28 07:56|| 2012-04-28 07:56|| Front Page Top

#7 Now it might not be a popular view here, but I think the economy has been structured so extracting "energy" from the economy without work seems untaxed, yet working etc is highly taxed. Seems to favour the politically connected very well.

Posted by Bright Pebbles 2012-04-28 08:40|| 2012-04-28 08:40|| Front Page Top

#8 Obama hasn't been paying mortgages, as expected.

Posted by badanov 2012-04-28 09:17|| http://www.freefirezone.org 2012-04-28 09:17|| Front Page Top

#9 Not subsidising excessive borrowers is GOOD not bad. Just need to stop subsidising banks (in reality their bondholders) now...

Posted by Bright Pebbles 2012-04-28 09:54|| 2012-04-28 09:54|| Front Page Top

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