While Obama fights for 40 bucks in your pay check U.S. Homes Lose $700 Billion in Value in 2011

Obama fights for $40?

It's all smoke and mirrors......

Theres not much anyone can do and no one else to blame, if people are buying over prized houses.

whatta guy - not

that means that a billion homes in the U.S. lost 700.00 each

He fights, you struggle...

At roughly 27 million homes in the US, 681 billion lost equates to about $25,000 per home ON AVERAGE!!!

Last Edited by Housedad on 12/24/2011 05:07 PM

The home prices were at over-inflated prices to begin with ... and were ONLY that high because easy money meant that people could borrow money to buy at high prices withOUT having a job OR an income that could make the monthly payments.

Housing prices are slowly deflating from their "Financing Bubble" to where they should have been to begin with. In fact the probably have to go down ANOTHER 25% TO 35% in order to reach a true equilibrium where those buying can actually afford to make the payments!!

Obama had NOTHING to do with the LENDING BUBBLE, it was started under Clinton and came to full fruition under Bush.

The same thing happened in the 1920's leading up to the Great Depression ... TOO MUCH EASY FINANCING!! (ie: financing was NOT based upon an ability to repay)

Old Trader

I'd say a lot of those homes where way too expensive to begin with.

My house plan from the same builder in Texas costs 170k.

In California, same builder, same plan would costs 1.2 million.

That house is now down to 750k. I Still think it could lose another 400k+ in value.

Homes are stupid priced in some areas.


The there is Detroit. You can buy a house up there for less than 100.00.

But you gotta go up there and live in it.

Well, that's not much considering houses here are plastic covered plywood

Have a great time in Hawaii Obama! God knows you deserve another vacation!

Funny thing is, my house, with a solid concrete basement is just the same as it's always been.

Being president is like being unionized, no matter how bad you screw up, they won't fire your ass!

Close to schools, garden, fruit and nut trees. Guess I'll just have to live in the wiorthless piece-of-shit.

Your house is not worthless, the taxes, insurance, and maintenance make it worst then worthless.

Your house is not worthless, the taxes, insurance, and maintenance make it worst then worthless.

Are you f-ing kidding me??Barry Obama ain't fighting for shit!! It all one big dog and pony show.

We aint seen shit yet...Wait until they get done with us in 2012. we will be lucky to still have a house...and mine is paid for. OP is dead on...all this is a delusion and a distraction...Really 40 bucks, why all the fuss.

He is my hero, the wind beneath my wings...be nice!

THIS....THIS AND THIS and not to mention DOUBLE the LOSS in 2012!!!

That $40 bucks is going to cost each home buyer $4000 for the next 10 years. That means for the next ten years when you buy a house it's going to add about $12 to your basic 30 year loan. (According to this article that would be for a $200,000.00 house) Doesn't seem like a very good idea for the housing market at this time.

[link to lansner.ocregister.com]

Houses did not lose value. Pricing is coming back to earth without no-doc liar loans, neg-am ARMs, and other fraudulent devices used by house mortgage brokers, flippers, and "investors," sliced and diced and turned into "AAA" bonds and dumped into working class pensions.

A house is worth what someone can pay for it. In a depression, and without the rampant mortgage fraud of the past, unemployed and underemployed people can't pay as much.

$40! SWEET now I can afford 2 more crack rocks!:african:

Last Edited by Marax on 12/24/2011 08:54 PM

Or half a tank of gas!

Did you know that gas was $1.79 when Obama was elected?

NOICCCE!!!!
Glad I'm not a home owner. I'll enjoy that 40 bucks...

The decrease in home values is a correction to the norm after massive overvaluation.

There is also still immense surplus stock on the market, which will continue to drive down prices.

That $40 is mine. I earned it. I'll spend it better than the federal goverment.

I wouldn't give $40.00 to see a piss ant eat a bale of hay!

True housing market statistics are difficult to find as the disclosure would alarm most financial experts.

But we do know that most prices were inflated over 14% of the actual value of the houses. We also know that about 1 in 600 houses were foreclosed last month. That doesn't include the number of families that just walked away from the insurance, maintenance and other financial burdens of having a house including the inability to move in order to find a job.

1 in 6 U.S. people are still looking for 40 hours a week of work. The average salary this year is $12.50 an hour. No bank is going to help them finance a home.

Home prices will continue to drop to actual values.

The only major buyers will continue to be foreign nationals. This is why we are seeing a jump in the housing market right now.

Precisely.

Put the U.S. payroll tax in perspective.

At $14.00 an hour, you probably have no savings.

If you earn $14.00 an hour you can expect to pay an extra $700.00. With the tax break, the government is hoping that you'll be able to put that $700 toward a new computer.

It is pitiful trying to squeeze blood (taxes) from a stone (near poor).