Comments on: Home Prices Forecast: First Ever Drop

Economists Predict Impending Report Will Show Median Price Has Dropped Since Last Year

[feelfree1]

Re: "Economists Predict Impending Report Will Show Median Price Has Dropped Since Last Year"

Anyone with some basic math skills will recall the difference between a "mean" and a "median" average. Recent reports have indicated that the sales of super luxury homes are booming- the only sector of the housing market that is, at the moment.

If we were to take a look at the "mean" average home sales price, I suspect that the situation is possibly far worse than is being reported, and the tax on our economy as a result of the looming housing market collapse, is only just beginning. All indications seem to point to the situation getting much, much worse.


seven-pesos,
Re: %u201Cno bailout!
This is your best comment ever, in my opinion.

If more Americans would have concentrated on preventing our country from slipping into the toilet, instead of trying to %u201Cget rich quick%u201D in the real estate market and using their homes as ATMs, we probably would not find ourselves in the catastrophic mess that we are in. It serves you right for looking out only for your own selfish interests. Now it is time for you to take your lumps.

Not only shouldn%u2019t there be a %u201Cbailout%u201D, but there is no money to finance one.

[seven-pesos]

no bailout!

[drivelphobe]

How short their memories are. This isn''t the first time and let''s hope the housing prices drop by about 60% so the money-grubbing flipppers and the fools who rushed to buy at the top of the market, using ridiculous funding, get what they deserve.

With a cry for affordable housing in this country, why do they allow so many builders to tear down perfectly good, older homes and build disgusting mansions on unsuitable, tiny lots, while pricing these pieces of garbage at $2 million plus. They destroy neighborhoods, while reducing inventory of homes that are perfect for the first time buyer and individuals of modest means.
These are the scumbags that need to go belly up.

I hope everone involved in the rapid price increase in homes gets stuck and loses everything. NO bail out!