According to ABC News, Housing Values Have Risen More This Year Than The Previous 6..

[Hardrock69]

I am sure this story will be on the ABC News website.

Just saw it now. Real Estate valuations have risen more in 2012 than any year since 2006....



The Republicans say what??????

WHAT?

SAY WHAT?

What complaints you have about that?

HUH????


Now, I am gonna hijack my own thread in the first post.

Well, not so much.

This IS relevant.


I just realized why Obama wants to legalize the 11 million illegal immigrants in this country.

Think of the tax revenue.

11 million people suddenly LEGALLY able to get legit jobs with payroll taxes.......

That could be a big boost to our economy.

That said, THEY ARE CRIMINALS. They BROKE THE LAW to come here.

The Feds need to make it really difficult to successfully get citizenship.

And if they cannot qualify, ship them back to where they came from. No ifs, buts, or whatevers...

This message brought to you by the Liberal Fascist Review.....The Groovy People's national magazine....

[Headly1984]

interest rates are 3.x ? - that lets home owners ask more $

when rates are 9 % owners would have to ask less - monthly payments can only go so high before they price potential buyers out of the market

[Hardrock69]

Yep. That was exactly what they said on ABC...with the rates so low, there has been fierce competition for properties, thereby driving the prices up.

[Dr. Love]

I'm going through the home buying process right now, and for 15 yr notes I'm getting quoted between 2.25 and 2.75%

Good time to buy if you can afford it.

[Nitro Express]

It's just short-term speculators driving it up. There's no legs to make it a long-term trend.

While prices may be rising, homeownership is struggling, an indication that investors are playing a big part in fueling the market's rebound. The Census Bureau said Tuesday that national homeownership fell 0.6% to 65.4% in the fourth quarter over the same period a year earlier.

Humphries said that the 5.5% increase was “really strong” and is “only going to get stronger next month,” according to home price data tracked by Zillow.

The spike in prices is masking the trouble that borrowers with underwater mortgages are facing. In fact, it’s precisely because so many borrowers cannot get out from underneath their upside-down homes that prices are rising so much, economists have said, because those people are simply hanging on and not putting their homes on the market.

[VAiN]

In all fairness, there was nowhere to go but up.... I'm still very upside down on my condo, and will be for a very long time to come. I'm not sure about the rest of the country, but around here it's next to impossible to get a mortgage on a condo. In fact, it's tough on a house as well... last week I was talking cars with a guy who collects and I learn he's a lawyer - does VERY well for himself - who just closed on a winter home in East Fort Lauderdale (not cheap). He put 40% down and the bank still gave him a very hard time with income verification even though he could have paid it cash. He was less than impressed with the whole process. Kind of mind blowing to me... 40% is a shit-ton of money to plunk down, you'd think the banks would be lining up to get his business.