Me too. Remember, despite the doom and gloom you read and hear everywhere, All Real Estate is Local. Locally, things aren’t so bad. Especially in my wheelhouse – Columbus and suburbs inside the outerbelt. There are all kinds and degrees of Housing Market Problems out there but this caught my eye and made me think about how the country isn’t really on the Highway to Hell.
Forbes Magazine, aka Forbes.com, published a piece about the top ten best and worst housing market cities. Between Number 10 of the Best Housing Market City, Portland Oregon (+5.2% over the previous year,) and the Number 10 Worst Housing Market City, Jacksonville Florida (-3.5% over the previous year,) there is a whopping 8.7% difference.
That means that the entire rest of the country falls somewhere in the middle. Is this really worth all the ink, headlines and hand-wringing Maybe if you’re Countrywide. Remember, many of these failed mortgages are tied to re-finances and home equity lines in addition to home sales.
By the Way, Salt Lake City came out on top of the best housing markets this year.
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2 Responses to “Had About Enough of the Mortgage Crisis Talk”
The mortgage crisis is WAY WORSE than anyone can imagine, we’re not even in the darkets days. The release valve–sell your house if you’re in trouble–is gone. It’s either ignorant or disingenuous to say otherwise. We will see a sharp, sharp, sharp drop in values, based not on speculation, but on basic mathematics.
Right now FNMA and FCLMC ARe adding more bad deals to the pile.
That said, even in Naples, FL, ground zero of all of the nonsese, there are deals to be had. One deal doesn’t make the market, and individual buyers can buy good houses,get good deals, just like individual stock owners could in 2000, pre .com bubble.
OK Chris, I don’t disagree.
Real people have lost their real homes all across the country. Giant corporations have been humbled because of their investments in mortgage backed securities.
But this is a local real estate blog and I take great pains not to go off on tangents that’ll lead to national stats and figures.
I rarely even delve into stories or other bloggers in the real estate and mortgage and technology and marketing worlds i read everyday.
Inside 270, do you think we’ll see a “sharp, sharp, sharp drop in values”?
Me too. Remember, despite the doom and gloom you read and hear everywhere, All Real Estate is Local. Locally, things aren’t so bad. Especially in my wheelhouse – Columbus and suburbs inside the outerbelt. There are all kinds and degrees of Housing Market Problems out there but this caught my eye and made me think about how the country isn’t really on the Highway to Hell.
Chris Johnson
November 28th, 2007
The mortgage crisis is WAY WORSE than anyone can imagine, we’re not even in the darkets days. The release valve–sell your house if you’re in trouble–is gone. It’s either ignorant or disingenuous to say otherwise. We will see a sharp, sharp, sharp drop in values, based not on speculation, but on basic mathematics.
Right now FNMA and FCLMC ARe adding more bad deals to the pile.
That said, even in Naples, FL, ground zero of all of the nonsese, there are deals to be had. One deal doesn’t make the market, and individual buyers can buy good houses,get good deals, just like individual stock owners could in 2000, pre .com bubble.
http://blownmortgage.com/2007/11/26/why-2011-might-not-even-be-the-end/
Joe Peffer
November 28th, 2007
OK Chris, I don’t disagree.
Real people have lost their real homes all across the country. Giant corporations have been humbled because of their investments in mortgage backed securities.
But this is a local real estate blog and I take great pains not to go off on tangents that’ll lead to national stats and figures.
I rarely even delve into stories or other bloggers in the real estate and mortgage and technology and marketing worlds i read everyday.
Inside 270, do you think we’ll see a “sharp, sharp, sharp drop in values”?