Dream House or Nightmare?

Hello, As a property developer I feel that we are only starting the downward trend in the property market.
My learned colleague from Michigan seems to have been somewhere else if his housing market has been falling for 10 years in his neck of the woods.
Over the last 10 years the prices have risen so quickly and so high that is was inventible that the market would fall once people woke up and realized the Emperor was indeed naked.

Hello, As a property developer I feel that we are only starting the downward trend in the property market.
My learned colleague from Michigan seems to have been somewhere else if his housing market has been falling for 10 years in his neck of the woods.
Over the last 10 years the prices have risen so quickly and so high that is was inventible that the market would fall once people woke up and realized the Emperor was indeed naked.

Hello, As a property developer I feel that we are only starting the downward trend in the property market.
My learned colleague from Michigan seems to have been somewhere else if his housing market has been falling for 10 years in his neck of the woods.
Over the last 10 years the prices have risen so quickly and so high that is was inventible that the market would fall once people woke up and realized the Emperor was indeed naked.

Hello, As a property developer I feel that we are only starting the downward trend in the property market.
My learned colleague from Michigan seems to have been somewhere else if his housing market has been falling for 10 years in his neck of the woods.
Over the last 10 years the prices have risen so quickly and so high that is was inventible that the market would fall once people woke up and realized the Emperor was indeed naked.

Hello, As a property developer I feel that we are only starting the downward trend in the property market.
My learned colleague from Michigan seems to have been somewhere else if his housing market has been falling for 10 years in his neck of the woods.
Over the last 10 years the prices have risen so quickly and so high that is was inventible that the market would fall once people woke up and realized the Emperor was indeed naked.

Hello, As a property developer I feel that we are only starting the downward trend in the property market.
My learned colleague from Michigan seems to have been somewhere else if his housing market has been falling for 10 years in his neck of the woods.
Over the last 10 years the prices have risen so quickly and so high that is was inventible that the market would fall once people woke up and realized the Emperor was indeed naked.

Hello, As a property developer I feel that we are only starting the downward trend in the property market.
My learned colleague from Michigan seems to have been somewhere else if his housing market has been falling for 10 years in his neck of the woods.
Over the last 10 years the prices have risen so quickly and so high that is was inventible that the market would fall once people woke up and realized the Emperor was indeed naked.

Hello, As a property developer I feel that we are only starting the downward trend in the property market.
My learned colleague from Michigan seems to have been somewhere else if his housing market has been falling for 10 years in his neck of the woods.
Over the last 10 years the prices have risen so quickly and so high that is was inventible that the market would fall once people woke up and realized the Emperor was indeed naked.

Hello, As a property developer I feel that we are only starting the downward trend in the property market.
My learned colleague from Michigan seems to have been somewhere else if his housing market has been falling for 10 years in his neck of the woods.
Over the last 10 years the prices have risen so quickly and so high that is was inventible that the market would fall once people woke up and realized the Emperor was indeed naked.

Hello, As a property developer I feel that we are only starting the downward trend in the property market.
My learned colleague from Michigan seems to have been somewhere else if his housing market has been falling for 10 years in his neck of the woods.
Over the last 10 years the prices have risen so quickly and so high that is was inventible that the market would fall once people woke up and realized the Emperor was indeed naked.

IDIOTS! Price for homes should be based on actual worth of the property, not "what the market will bear".
Home constroction costs are about $100.00 per sq ft, maybe $125.00 per sq foot if upgrades are used. So this house should be $350,000.00 to $438,000.00 for the structure. For the property, 1 acre is about $40,000.00 to maybe $60,000.00, so the property should be $100,000.00 to $150,000.00.
Total value structure plus properety ranges $450,000.00 to $588,000.00. AND THAT'S IT!!! NOT $750,000.00!!!!

The sooner idiot real estate dealers and idiot yuppie "get rich quick in home value" young couples realize these facts, the sooner this mess will go away.

I blame real estate agents for inflating property values to "what the market will bear" values for some of these problems (Why not? The higher the property value that is sold, the bigger the comission to the realestate agent)

This constant price escelation of real estate values HURTS young, stroggling couples trying to buy their first home, and is not fair. Basically, "older people" ( maybe older by only 10 years) are telling newly starting families "We were able to buy this house on a smaller salary. But you have to pay me a LOT of money if you want it." This becomes SOCIETALY unfair to young, struggling couples; we are saying that the "older people" were able to live a good life, but now younger new starts will be denied that privealge, or pay to support older people for a long time.
We should adopt policies that help SUPPORT young, struggling couples instead of raising barriers! Life is hard enough..

Enter Your Comment

I think the owner/builder and his wife are being short sighted. Realtors tell me this is a market adjustment. And, indeed, the market needed an adjustment. I would think that Roger was looking for a long term investment of the inheritance. I think he has just that. One can't check on investments daily and expect to see a true picture. Enjoy the house and make it a home. The return will come!

Its hard to feel much for the protaganists in this story, they have financial security and an apparent good lifestyle. It appears that they like many caught in the housing debacle went into their grand scheme with all the wrong motivations. A house is for living and not an investment vehicle from which to fund your retirement. They have not even lived in the house for very long and apparently, like many, did not understand the housing market. My lovely spouse and I built a house a year or so earlier and actually spent more cash. But we researched neighborhoods and understood the risks such an investment incurred. Moreover, we built the house as our "dream" house and to live in. Anyone who relies on "flipping" their house within months of completion for a profit better know their oats or have a rich uncle with a large checkbook. It seems to me that the greed and unrealistic expectations of people such as those featured in this piece iare what fueled the ridiculous excesses and stupidity leading to the current liquidity crunch hurting sellers now. Although I have no reason to believe anything negative about these people- to say it plainly, " they got what they deserved. I am critical of Newsweejs attenpt at drumming up false sympathy and crocodile tears for such apparently shallow people.

Well This is the same thing that hapened during the late 80's and early 90's. The market will shift again after a period of time, unfortunately they will have to wait for their investment to increase in value. Right now their home is not an investment but in 10 years it probably will be.

Enter Your Comment

Enter Your Comment

Enter Your Comment