Thread: Housing Market

Right. I'll stick with my stocks and not worry about the NINAs.

10-14-2007

A lumber Company owner in GA says the housing market is going to crash big.

I talked to my next door neighbor, who builds custom houses. He said there are x number thousands of spec houses sitting in GA that aren't going to sell.

Then, he said its not going to be a recession, but a depression.


Interesting "you were there" historic thread documenting the early signs of the sub-prime fiasco failure.

Thank you Bawny Fwank and Flabbie Mae for destroying the US housing market - you should be proud b/c its never recovered and the banks are still failing.

Thanks for pulling this thread up.

Like politics, Real Estate is local. Some areas are booming. Some areas are immune from problems. Some areas are required to suffer for the good of the areas booming. Pitchforks were surrendered as the people went back to American Idol.

White House has lost one-quarter of its market value in three years

According to one real-estate website, the value of the White House has fallen from $332 million in 2007 to $252 million today. There are no plans to sell it, however.

No one is immune

Originally Posted by Buster

White House has lost one-quarter of its market value in three years

No one is immune

Just two questions...

1. How much property tax does the government pay on this mansion?

2. How much would a private individual have to pay?

Originally Posted by Gumby

Just two questions...

1. How much property tax does the government pay on this mansion?

2. How much would a private individual have to pay?

Don't know how much a private individual would have to pay, but I do know that the government doesn't pay any property tax, because the White House is a National Park Service site.

$2,142,000 would be the tax bill, using DC's property tax rate of $.85 per $100.

Bah, any property previously valued over $1million has gone way down in value. Expensive swanky mansions were oversold and overrated (with genuine granite countertops and 8 burner stainless steel gas ranges of course). So too would the White House's value go.

Case Schiller this morning points to housing bumping along the bottom, or continuing down a tad. Exceptions are three cities, where some improvement is noted. The star is the Washington DC area which is the beneficiary of federal tax dollars, sent here by people who apparently willingly send their income to DC instead of to their state governments. Taxes hmmm, 80% federal, 20% state. Not anywhere close to what the founders had in mind but that wonderful commerce clause.....