I did a search and didn’t find anything specific to my question. Mod, if you know of a more appropriate thread, please move this there. Thanks.
A kinda lame hobby of mine is surfing homes for sale in my home town. I’ve been doing it for years, just outta curriosity. When I graduated (97), a three BR in town could be had for between 50 thousand. 30 for two BRs.
When I returned in 2005, those same houses were at least 80-150,000. I’m looking at lower end houses because the new stuff is always the most expensive, but it gets old and then is just more old stuff.
So, any place I might actually want to live was at least 150-250 grand–easy!
Surfing today and there are plenty of properties selling for under 100 grand! Several that I might live in or want to own. One very cute little stone house for under 50,000 (2 BR and needs a few fix ups). That’s terrible for the owners of that house, who’ve had it paid off for generations, no doubt.
Anyway, so depending on condition, age, and location, prices have dropped in the last year or two between 30 and 100 grand.
How much lower will it go?
You mean like this one?
forumosa.com/taiwan/viewtopi … &&start=20
[quote]. . . depending on condition, age, and location, prices have dropped in the last year or two between 30 and 100 grand.
How much lower will it go?[/quote]
I don’t know, but I’m planning to move to California after Taiwan (in a year or two) and I’m very grateful prices are dropping. I looked in the Bay Area a year ago and it seemed a modest 3 bd 2 ba in a decent neighborhood would cost me at least $750k. San Diego looked even worse. As you know, those places where prices rose the most in the past decade are dropping the most now, because they rose to unrealistically inflated levels. Those places that didn’t shoot through roof aren’t being adjusted so drastically now. I would think prices will drop at least for all of 2008, perhaps well into 2009 and beyond it as well.
You mean like this one?
forumosa.com/taiwan/viewtopi … &&start=20
[/quote]
yeah! that one would have been great! I searched “falling housing prices” but I guess that was too specific.
So, well into 09, hu? I live in Arkansas and no where near where the worst of things are, but even here just a couple years ago properties that were surely worth no more than 60 or 70 grand were well over 100. With even some fairly desireable places under a 100 grand now, I can’t immagine how low it might go. Really terrible for the present owners. I can’t immagine. And it sure makes Bush look like a real ape telling people that we are not headded for, or in, a recession. Nah, the ecconomy is just great–just make sure to spend the check I’m sending you as soon as possible!