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Mister Coaster · 05-02-2007, 07:26 AM

Snooty, instead of plucking numbers out of the air, lets look at the actual situation in the original post. Central Ohio has never been a hotbed of real estate fortunes made. There is no way a house that is currently on the market for 110K is going to fall in price 30% (I googled it, I couldn't find ANYONE predicting that big of a downturn, gimme a link) in 6-12 months, I don't care what the prognosticators say. There is no "National Crash" because home markets are not national, they are regional.

From and article I found...
Most people agree the current market will enter a general flat period in 2007. Some parts of the country will see relatively small declines in home values while others will see relatively small increases. Inventory will slowly be sold off and the market will essentially take a breath to get its feet under it again. It will probably be 2008 before we see a steady increase in home values, sales rates and what have you.

If you own a home, there is really no reason to panic about the current real estate market. Unlike stocks or other paper investments, you can live in a home. As long as you can meet your mortgage obligations, you can wait out the current correction. Around the end of 2007 and heading into 2008, you can expect to start smiling again as your property appreciates. Will it appreciate at double digit rates? It just might!

Relatively small increase or decrease, not 30%. And then look for a rebound in 2008. That is a small slump that will be easily ridden out. California is where the bubble has burst big time, which is why I moved away from there when I did.

05-02-2007, 07:26 AM	#20 (permalink)
Mister Coaster Big & Brassy Location: The "Canyon"	Snooty, instead of plucking numbers out of the air, lets look at the actual situation in the original post. Central Ohio has never been a hotbed of real estate fortunes made. There is no way a house that is currently on the market for 110K is going to fall in price 30% (I googled it, I couldn't find ANYONE predicting that big of a downturn, gimme a link) in 6-12 months, I don't care what the prognosticators say. There is no "National Crash" because home markets are not national, they are regional. From and article I found... Most people agree the current market will enter a general flat period in 2007. Some parts of the country will see relatively small declines in home values while others will see relatively small increases. Inventory will slowly be sold off and the market will essentially take a breath to get its feet under it again. It will probably be 2008 before we see a steady increase in home values, sales rates and what have you. If you own a home, there is really no reason to panic about the current real estate market. Unlike stocks or other paper investments, you can live in a home. As long as you can meet your mortgage obligations, you can wait out the current correction. Around the end of 2007 and heading into 2008, you can expect to start smiling again as your property appreciates. Will it appreciate at double digit rates? It just might! Relatively small increase or decrease, not 30%. And then look for a rebound in 2008. That is a small slump that will be easily ridden out. California is where the bubble has burst big time, which is why I moved away from there when I did. __________________ If you have any poo... fling it NOW! Last edited by Mister Coaster; 05-02-2007 at 07:38 AM.. Reason: linked to an outdated article, removed it