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+--- Thread: home sales data in HPP ? (/showthread.php?tid=8273)
RE: home sales data in HPP ? - Bullwinkle - 01-03-2011
as we talk about hawaii values isnt it a moot point now that we are at or near the bottom?
my reasoning....
we live in & own a house that has a certain value per foot (lets park financing for a bit - pretend we are all cash buyers)
Boom - the Mozillo induced crash comes along.......
http://dealbook.nytimes.com/2011/01/03/bank-of-america-settles-fannie-mae-and-freddie-mac-claims/?hpw
all hawaii values dropped about the same
now when one and sells - the next house will have the same (depreciated) square foot values as the one we just sold.
so if I paid 200k for a house that has dropped to 100k the replacement home will also have dropped in value accordingly and should have about the same square foot cost & values in the end I am even.
all this other talk is about loans and financing and who is holding the bag..... (see link to see how the big boys are dealing with it)
In the end - homes are to live in not to bank on imho start speculating in any commodity on the margin and you will get bit sooner or later
RE: home sales data in HPP ? - bystander - 01-03-2011
Yeah so much for idea of the "Grass Shack Money Making Machine" that was being touted by someone a few years ago.