True.
Now what?
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Recent Comments
- In The Mailbox: 02.28.23 (Afternoon Edition) : The Other McCain on Hey, longtime pw readers…
- In The Mailbox: 12.23.22 : The Other McCain on Patrick J. Carroll truly IS a sad, embittered psychopath
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It’s funny because last night RIGHT after touting economic improvements of one sort or another, the newz went into a piece on falling (still) housing prices.
We have wasted over $2 trillion on a lie. The American people were sold the bailouts on the basis that they were saving the value of their homes,” Wilson said.
I bought my Detroit house 18 years ago for $66,000. The value rose rather quickly (well liked neighborhood) to a high – we could have easily sold it for $150,000.
Current value? I don’t know if we could sell it for $25,000. I doubt it.
My taxes are higher – per month – than I could get in rent.
Oh, and somewhere on AlGore’s internet, I read a story yesterday about all the mansions in Vegas that are in foreclosure.
I thought the rich were getting richer?
*confused
What now? Obama blames the rich, some of whom have doubled down on evil by speculating in oil and coffee.
Tax ’em all, he’ll say. Tax ’em at 100% if necessary.
Seriously, Obama could surf the wave of outrage at elevated coffee prices like a boss
No problems.
Good to see you back, boss…
My wife and I won’t be surprised if our house goes under water on the mortgage. We owe maybe 95k on the house and it’s a modern 3 bedroom on an oversize lot.
Houses in our neighborhood, same floor plan as ours, sold as high as $310,000 5 years ago.
On the bright side, there are some awesome deals on distressed properties right now, should you wish to take advantage of someone else’s misfortunes, like the greedy little capitalist running dogs I know you to be.
And if you can lock in decent rates for 30 year loans, so much the better. A few years from now, when a loaf of bread is $2,000, your various mortgage payments will be no more than a rounding error in your checkbook!
I’m counting on my student loan disappearing in a puff of inflation.
This just sold for less than half of the asking price. It has a main house and two guest houses, stands on a bluff overlooking the Ohio River, is completely restored and absolutely beautiful. I bring this up because the people who bought this house paid less than what I paid for my house. Which is right around the corner, not as nice and has no view. I wanted to sell my house and buy this one, but the last house to sell on my street went for just about $33 in change, beans and blackstrap molasses and thanks to the ungodly smell of wet spaniel, Axe body wash, Rachael Ray’s absurd idea to garbage in a bowl by the sink to dump in the compost pile that is currently under three foot of running water, and middle-school boy funk, I think I would get less.
In other words, over the last two years real sale prices have fallen 50% in my town. Asking prices haven’t. People who have to move, like the former owners of that house up there, are getting murdered.
Wait for 2nd quarter numbers, I predict a bloodbath.
Hmm. I don’t think the downfall is quite as bad here in Orlando. Still, I think my place peaked around $400k and its current valuation is more like $265k. But we bought for less than that. We blew some of our equity on some renovations, recently; not sure if that will help or hurt us. New kitchen and bathroom cabinets, new kitchen appliances, new counter, and some other stuff to make the place look a lot nicer.
Can I fit this on a bumper sticker?