SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Formerly About Advanced Micro Devices
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Road Walker who wrote (362812)12/14/2007 8:03:10 AM
From: combjelly  Read Replies (2) of 1578902
 
"average home prices would have to fall about 30 percent from their current levels."

Reminds me of the halcyon days of The Bust. The reasons were different, so many people lost their job and, with little prospects, they had to move. Regardless, a lot of houses came onto the market at the same time. That drove prices down, which led other people to panic and try to sell their houses to get as much equity out as possible. Which, of course, drove prices even further down. Eventually you could put a house on your credit card.

If prices have to fall 30% to restore balance, it is pretty certain they will fall much more than that. And it will take years to get back. It can be argued that Houston still isn't back, and The Bust was over 2 decades ago.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News