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No fault, just a correction that's been a long time coming. Once the prices start stabilizing it should get easier to move property. And yes, once the new house prices fall the old hpuse prices will do likewise.
 

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Hmmmmm. I wonder if I give him GPS coordinates......
...I can probably talk some friends into hovering over your neighbor's house for a few minutes at midnight every night.:eyebrows:

Or I could drop a couple 2.75" rockets near the largest pile o' junk. They're not a point-target weapon so keep your head down...
 

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:woohoo:





:stirpot:

Talking to people, I don't think the drop has quite kept up with the increase in payments due to rising interest.

But it'll get there...
 

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...I can probably talk some friends into hovering over your neighbor's house for a few minutes at midnight every night.:eyebrows:

Or I could drop a couple 2.75" rockets near the largest pile o' junk. They're not a point-target weapon so keep your head down...
Too late they already do that.:smilebig:
 

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I should perhaps explain that the "price drop" was mainly a change in composition: volume sales of higher-priced houses dropped significantly (as did the prices of those that sold), so a higher proportion of those sold were lower-priced houses. The average price of houses sold therefore fell more than the price of any particular group of houses. To put it another way, if you fixed the proportions of lower- and higher-priced houses the drop would have been smaller.

The house-builders are clearing inventory and dropping prices to achieve that.

Clear now?
 

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Discussion Starter #20
Yes,

But I feel this is just another sign that the housing market correction has started in the US. A month or so ago it was stated the Defaults on Loans in SoCal was at a record level as well. This tells me that the public is not able to spend as much on housing, because of interest rates and/or income.

If you also look at the changes in Low Skill Immagration, The new super highway that will bypass the western ports and all the other measures that the goverment is putting into place for what ever reasons. I think you will find that the lower middle and low income Americans are in for a world of hurt.
 
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