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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (358876)	11/17/2007 2:33:16 PM
From: tejek	Respond to of 1575761

They feed on each other. With more foreclosures the value of the existing homes goes down. Pretty soon qualified owners have a home that is worth less than the mortgage and looking for a way out. I told you that my house is worth $70K less than at the peak. What if I had bought then... I would be sick. We are just starting to see that here. People who bought in this one development last January are seeing the same house sell for $30k less in October. Traditionally, in a market slowdown, its builders who 'break rank' first because they need to keep moving their product. I wouldn't be too worried except for the fact that PNW economic indicators have started turning down for the first time in several years. Having said all that, the median price of housing continues to be up YoY here. If thing continue down people will start to panic... then you will be at the end. I think in some markets there is panic.....places like Detroit. I don't know what we do about that city. It can't seem to dig itself out of its economic hole.