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alstry (34.92)

Americans Beginning to HATE Owning Homes....

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May 12, 2011 – Comments (5)

Who coulda seen this coming;)

http://www.calculatedriskblog.com/2011/05/more-hate-for-homeownership.html

As millions of the 50,000,000 government/health care/and education workers lose jobs in upcoming months..... 

Home prices will continue to crash and property taxes will continue to rise as fewer and fewer can afford to pay and cities, counties, and states need more revenues.

Eventually, almost everyone will hate their home as we morph into the Digital Age where the concept of homeownership will be a distant memory.

5 Comments – Post Your Own

#1) On May 12, 2011 at 10:57 PM, motleyanimal (87.23) wrote:

We will all just live on Second Life. Welcome to the Digital Age.

 

http://secondlife.com/

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#2) On May 12, 2011 at 11:11 PM, alstry (34.92) wrote:

YUP.....it is a robust and viable solution already highlighted at www.udderworld.com

You may find the following interesting

http://secondlifegrid.net.s3.amazonaws.com/docs/Second_Life_Case_IBM_EN.pdf

 

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#3) On May 12, 2011 at 11:51 PM, davejh23 (< 20) wrote:

"Eventually, almost everyone will hate their home..."

Already, everyone I know that's owned their home for less than 10 years hates it.  It's depressing to see a home you've owned for 10 years worth less than you paid for it.  It's depressing to have watched the value of your home fall 40%...and then fall another 20%.  Many young people, encouraged by family/friends, bought expensive starter homes/condos to benefit from the rapidly rising prices...now they have families and need to move up, but they owe double what their existing home is worth.  It seems that there's more hate for real estate investing out there as well...either that, or financing is extremely tight and everyone is broke...there are tons of properties in my area that could easily rent for 200% of PITI w/ 20% down, but they're just sitting vacant...rents are declining and investors are worried.

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#4) On May 13, 2011 at 2:00 AM, guiron (20.20) wrote:

Eventually, almost everyone will hate their home as we morph into the Digital Age where the concept of homeownership will be a distant memory.

What does this mean?

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#5) On May 13, 2011 at 2:17 AM, guiron (20.20) wrote:

Anyway, this is just a process of price discovery, albeit traveling a slow, grinding road to get there. You can go back in history and find similar periods where land was worth less and less, until it was worth more (incidentally, this is exactly how my grandfather made his nest egg). Not all markets are declining anymore, and indeed more and more areas are seeing increasing values for houses and land.

It's not 2008 anymore, although every post of yours is still pretty much just a guy on a corner with a placard in big, bold letters, "THE END IS NIGH!" We have been through worse (so much worse) and have always come around, as we are now and have been for the last three years. OTOH, if all you can see is that the world is ending, there is a way to be a bear and be successful as a trader, but I can't see how that works for you. It won't work to panic every time bad news comes down the pipe, because bad news is always available, even in the best of times. The thing about doomsaying prophets is that they're almost always wrong, but if they're right even one time out of 100 they use that as proof of their convictions, despite all the evidence to the contrary.

Conspiracy theorists aren't interested in discussion or even considering the possibility that they're wrong. They're really only interested in preaching. How that translates into useful investment or trading advice is beyond me. Maybe alstry is just the blog equivalent of all those ridiculous analysts on CNBC who can only trade what they think about politics, not what is in front of them in the market. They are one-trick ponies with nothing left once their case is proven wrong, though they will never give up their fight to prove they're right, as if it were some moral crusade. Crusaders aren't good analysts, nor would I take advice of any kind from such a person. They're all just street corner preachers and hucksters seeking attention.

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