http://www.businessweek.com/investor...n_id=rss_daily

I am thinking about buying a house next year. I just renewed my lease on my loft for another year and when its over I plan on buying something. I am hoping the market crashes so bad that in a years time houses will be even cheaper and even more of a buyers market. Looks like my wishes may come true.

 

Thank our government for not stepping up to the plate.

 

Its especially got to suck for those people that bought houses during the boom in Florida about 5 years ago. They actually lost money by buying a house! Houses in Florida about doubled in price within 2-3 years. Now they have gone down some and people are screwed!

 

The problem is that the government has been too involved. Vote Ron Paul for economic prosperity and freedom. Freedom....that's a novel concept.

 

Depends on where you live and what your house is worth. North Atlanta is selling just slower. If you have a house that is 300,000 or more, you'll be sitting on it for a while no matter where you live. People want to blame the government, but it's greedy Americans' fault. They bought more house than they could really afford and its coming back to bite them in the butt. Dem's and Rep's have nothing to do with this.

 

...X2

 

Geez... I have to hear this every day from my GF who is a realtor. Housing market is so bad down here you cant give a house away . No one is buying because sellers wont drop thier prices. Business has picked up for her somewhat though. Thankfully.

 

my old roomate was a realtor in Orlando. The market got so bad he had to quit doing that and now sells timeshare near disney somewhere.

 

I'm pretty sure Bush is trying to get a freeze instated on ARMs, for the next 5 years, to help people out. I don't like it; but, that's the news as of today. I think we should just let the market correct itself. These people should have known better. If they were taken advantage of by misleading lending practices, then they should take it court.

 

Craz3d, It is refreshing to hear someone who sees the simple common sense of free market economics. Ron Paul 08!

 

Its not the government's fault, it is the banks fault. The people who are losing their homes, should have never even been able to buy a home to begin with. The banks gave away mortgages with 0 down and adjustable balloon rates to people who they knew could never afford the adjustable future rates. The bank are the one's who should be responsible..A lot of people got rich at the hands of unaware people and now the American people and the government have to pay these debts off. It is bull*****, I knew this whole real estate thing would bite us in the **** someday.

 

Exactly !!! The government needed to step in and set regulations on the Banks. Now we're in a very big predicament, especially in Florida.

Everyone who wants to be close minded and say well those people shouldn't of bought more house than they could afford. Novel concept and I agree but it doesn't just effect those people who were dumb. It effects everyone in the area.

 

Not yet.

 

True; but, at the urging of the government to make loans available to people of lesser means. Bush wanted more Americans to own their homes and Congress agreed.

I don't think duping home owners into entering sub-prime mortgages, that adjusted wildly after 5 years, is exactly what Congress had in mind though. lol

The banks and some very stupid consumers are ultimately to blame.

 

The other sad side to the story is the construction workers. Man did these guys take a hit. I knew guys in buisness for 20 years and they lost everything in my area. They built on every square acre here in Jersey and now there is no work left, they still cannot sell a lot of these homes they built on the coast. I still remember guys were bragging 2 years ago how they were making so much money and spending it like this boom was never going to end, my best friend was one of em and the boom did end and he has just disappeared, he lost everything and split town I cannot find him..