Real Estate Crisis Affects All Of Us

Nov 21, 2008

  1. somarco
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    somarco GA Medicare Expert

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  2. Salary_Guard
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    great video.
     
  3. Beleriand
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    Beleriand New Member

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    Very nice video. In my opinion this situation is really true.
     
  4. scott80
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    Well it's affected me thats for sure, house is down about £15k at the min! Think it's bottomed out though and no plans to sell so not worried.

    Will go back up eventually . . . just hope the mrs doesn't get any ideas of moving any time soon
     
    scott80, Jul 29, 2011
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  5. somarco
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    You're not from around here, are you?
     
    somarco, Jul 29, 2011
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  6. 0b1kanobee
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    0b1kanobee Guru

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    He is from the UK I believe. The house around here where I am have lost almost half their value. My niece just bought a really nice 3 bedroom, dining room, living room, family room, two car garage house for 72k. Has two baths as well and good size yard...... foreclosure.

    That house a few years ago would have been 170k

    I had a house in Naples FL about 5 years ago which I sold for 285k and it went up to almost 300k is now in foreclosure for 85k last I seen on Zillow.
     
  7. apollo23
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    Wait until the second wave of foreclosure start in Florida..There are almost a half million non paying homeowners (shadow inventory) the banks are holding from the courts. When these are released in the coming months its not going to be pretty.
     
    apollo23, Jul 30, 2011
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  8. Sales71
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    It will take another few years to get better
     
    Sales71, Jul 31, 2011
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  9. xrac
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    Ten years at the minimum to straighten out.
     
    xrac, Jul 31, 2011
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  10. apollo23
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    you sound more like a real estate agent. What do you base your statement that the real estate business will recover soon on? Xrac is closer to the truth and I base that on the number of foreclosures that the banks still have in inventory. The banks are holding back millions of properties through out the country. There will be no real estate recovery until the unemployment rate is reduced, people that have jobs don't fear losing their jobs and the foreclosures in the pipeline are cleared out.
     
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