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I don't think we can claim to have seen one in the US until this curve starts pointing the other way.
Bottom in house prices?
- Thread starter FluffyMcDeath
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Only Democratic Senators get HOUSING-MARKET APPRECIATION!
Senator Dodd’s Irish Cottage: Was $190,000. Now $658,000!!!
Senator Dodd’s Irish Cottage: Was $190,000. Now $658,000!!!
Well, that's a pretty unfair statement. There will always been some appreciation when those cottages are in foreign countries that have had recent upswings, and when those same cottages have undergone massive renovations on top of that.
The appraisals were probably pretty honest each time. The only real problem I see is how long they were lingering with an outdated appraisal...
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As for US housing... Edging toward that 1,000,000 new foreclosure filings mark. Now, that's new foreclosure notices per that quarter, right? Yikes!! So frightening...... This is going to steamroll the entire middle class into oblivion... Even the responsible ones.
Who can afford to lose the entire value of their house? I have insurance against fire and destruction... There is nothing against loss of value due to destruction of middle-class lifestyle.