Housing market cartoons

[darlets]

[Crabapple]

Political.

[Wolf]

Trying to find a suitable place to post something:

I just realized that I'm renting this place for quite the steal - the expected resale price of this place has dropped 5-10x the amount of my rent every month since I've lived here. I kid you not, it has dropped nearly a cool 100 grand in expected sale price since I moved in.

But this one doesn't even hold a candle to one place I briefly looked at renting (I thought it would be great for me - perfect size, secluded, etc, only about 4x as expensive as I thought it should be, and the rent was a bit high, but I was rejected). That house has dropped over 250k dollars in expected sale price since then... It never sold.

The prices are so artificial here that it hurts.

[Athenian200]

So, dartlets: are you trying to say that the housing market is ready to crash?

And Wolf: Sorry to hear that you're having trouble with housing prices. Are you saying that you actually rent houses? I thought you could only rent apartments and condos? I guess there are lots of things I don't know about real estate.

[Wolf]

Yes, I'm renting a house, and you can rent basically anything (I've seen mansions for rent before).

I mainly rent because I can't realistically afford to buy one here. The market is crashing, in case you weren't aware. A few zones in the country are still in stupidville, but anywhere along the coasts (or otherwise hyper-inflated, like LV) with overinflated prices is fall like a rock. Las Vegas, San Diego (where I am), Los Angeles, Florida, most of the east coast...

I hear they're still pushing them up in the South-East (Carolinas, in particular) and some Rocky Mountain states, but that will probably get killed by the effects of the coastal failures and the resultant changes in the lending rules.

It's difficult for me to believe that you haven't heard about the collapse of so many rather large mortgage lending companies in the US.

[Athenian200]

Originally Posted by Wolf

Yes, I'm renting a house, and you can rent basically anything (I've seen mansions for rent before).

I mainly rent because I can't realistically afford to buy one here. The market is crashing, in case you weren't aware. A few zones in the country are still in stupidville, but anywhere along the coasts (or otherwise hyper-inflated, like LV) with overinflated prices is fall like a rock. Las Vegas, San Diego (where I am), Los Angeles, Florida, most of the east coast...

I hear they're still pushing them up in the South-East (Carolinas, in particular) and some Rocky Mountain states, but that will probably get killed by the effects of the coastal failures and the resultant changes in the lending rules.

Wow. What kind of effect is that going to have on realtors? It can't be good for them, certainly. Will it hurt the economy?

It's difficult for me to believe that you haven't heard about the collapse of so many rather large mortgage lending companies in the US.

I haven't heard about it because I've lived in an apartment all my life, and haven't ever seriously considered a house, because I would be responsible for paying for all the upkeep, and no matter how expensive it got, I would be forced to cope.

[Wolf]

Originally Posted by athenian200

Wow. What kind of effect is that going to have on realtors? It can't be good for them, certainly. Will it hurt the economy?

Something like one in three people here in this area are licensed realtors, so I'd say it's pretty crazy. The economy is currently being propped up by home loans and construction, so it could be really bad. Do you want to pay more for something than it is worth because the value went down while you owned it?

[darlets]

Originally Posted by athenian200

So, dartlets: are you trying to say that the housing market is ready to crash?

I was at the about a year ago, when you'd tell people that housing wasn't a good investment and they'd look at you like this .

[Wolf]

Originally Posted by darlets

I was at the about a year ago, when you'd tell people that housing wasn't a good investment and they'd look at you like this .

Hey, I saw it three years ago. It was going up too fast to be based on anything real... I've just been waiting to watch it seriously crash and kill off the method the mindless boomers were/are using to try to fund their retirements because they never saved a cent. It'll probably ruin my attempts, too, as the markets are going down, while inflation will wipe out any I make in savings. Basically, they've taken us all down with them.

The markets of the world are shaking pretty hard as these big mortgage companies, who commanded massive amounts of money, are collapsing like the many houses of cards that they were.

[Sahara]

As far as I know the house prices are going up in the UK, and I doubt I will ever be able to afford buying one.

I used to live in an area where a 2 bedroom house went for one million british pounds lol

Now although the prices are still alot less they are still far far far out of my range or my dreams, and rising.