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alstry (35.42)

Homes Below $10K Spreading Nationwide

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April 02, 2012 – Comments (9)

http://bottomline.msnbc.msn.com/_news/2012/04/02/10922983-bust-leaves-market-littered-with-homes-under-10000

Expect the trend to grow as technology replaces jobs and bankrupts many businesses and governments....aka Zombulation.

 Welecome to www.udderworld.com

9 Comments – Post Your Own

#1) On April 02, 2012 at 9:31 AM, wolfman225 (63.40) wrote:

Seen a certain way, aren't lower home values/prices a good thing?  Doesn't it make it easier for middle income families to afford their first home?  Not everything is a calamity.

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#2) On April 02, 2012 at 9:34 AM, alstry (35.42) wrote:

Not to the states/municipalities that depend on the higher tax revenues to pay millions of workers and spend trillions of dollars.

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#3) On April 02, 2012 at 9:36 AM, alstry (35.42) wrote:

But for the buyers of homes today....it is a plus....but for the owners of homes, or those trying to sell....especially those with mortgages...it's a mess.

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#4) On April 02, 2012 at 9:47 AM, wolfman225 (63.40) wrote:

Then isn't it a wash?  A plus for some and a minus for others.  That's always been the underlying dynamic tension in our economic system.  It's about time the so-called "cash starved" states and municipalities were put on a diet.  Ditto for those buried snout deep in the government trough.

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#5) On April 02, 2012 at 11:05 AM, leohaas (31.56) wrote:

If home values are falling, don't municipalities just raise the tax rates? I know from experience that is what they do in NJ. No "starvation" going on there...

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#6) On April 02, 2012 at 12:36 PM, alstry (35.42) wrote:

In my neighborhood, property taxes range from $10-$20K+ per year.

If homes in my neighborhood drop below $10K.....how high can property taxes go?

As municipalities become more cash strapped....expect millions of workers to lose their jobs...and we will create a new NON jobs based system.

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#7) On April 02, 2012 at 2:45 PM, leohaas (31.56) wrote:

Unless your state has a cap like CA, property taxes can be $10K (or more) for a home valued at $10K.

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#8) On April 02, 2012 at 2:52 PM, wolfman225 (63.40) wrote:

^Huh??!!  Whereinhell are you living that has a property tax rate of 100+%.

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#9) On April 03, 2012 at 1:17 AM, oshiri (< 20) wrote:

My advice . . . 

     Pay cash for low cost properties and leverage them into something you can flip :-)  Buy a $300,00 home on the back of a cashed out $50K condo, then resell that depressed value home for $400,000.

     As long as the Fed keeps printing money with interest rates near 4%, why not? They (your Government) is asking you, through their policies, to do it.

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