Likewise, we also witnessed housing prices artifically inflate (and quickly) like never before seen in any of our life times. They have adjusted themselves to reflect reality. The drop was the bubble bursting. Now we see the rise back to where they should be.
Everyone made their money and then let the ball drop on the backs of the unsuspecting (I use that term loosely) homeowners. Wise people would have known that they couldn’t afford a $500,000 home on a $30,000 a year salary . . . but that’s a blog posting comment for another day.
Actually, it had nothing to do with Bush — it had everything to do with the fact that our housing prices are more reasonable (and have been since the oil bubble burst in the 1980s).
Gosh, I wish I could do the Nelson laugh at Dave A., Tom S. and Protack.
No shit….. did you expect them to drop forever.
I’m not sure who his daddy is — I’d like to see the original birth certificate to make sure… đŸ™‚
No shit….. did you expect them to drop forever.
since a drop in housing prices hasn’t happened like this in most of our life times . . . three years is a long time.
Interestingly enough, we had no drop in housing prices here in Houston — and I don’t believe we had that problem here in the rest of Texas, either.
Bought my 1500 sq ft for $90K in 2001 — and could probably sell it for over $120K today, even after Hurricane Ike.
Likewise, we also witnessed housing prices artifically inflate (and quickly) like never before seen in any of our life times. They have adjusted themselves to reflect reality. The drop was the bubble bursting. Now we see the rise back to where they should be.
Everyone made their money and then let the ball drop on the backs of the unsuspecting (I use that term loosely) homeowners. Wise people would have known that they couldn’t afford a $500,000 home on a $30,000 a year salary . . . but that’s a blog posting comment for another day.
RWR, Texas never hurts under a Bush presidency.
Actually, it had nothing to do with Bush — it had everything to do with the fact that our housing prices are more reasonable (and have been since the oil bubble burst in the 1980s).
Banks are still in posession of billions in bad assets and mortgage defaults are very high. This blip amounts to nothing.
I can’t help it. I laugh every time I see your post title next to the picture of Obama.
“Who’s Your Daddy?”
that’s racist and birtherist!
http://market-ticker.org/uploads/GDP-Graph1.png