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Housing: Bottom's In Again

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April 29, 2008 – Comments (3)

SandP home prices April release

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3 Comments – Post Your Own

#1) On April 29, 2008 at 1:54 PM, EScroogeJr (< 20) wrote:

You could have picked 1991 to make your point:)

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#2) On April 29, 2008 at 2:29 PM, TMFBent (99.82) wrote:

Heh. The bottom was in for a while. Finance was nowhere near as creative back then, alas.

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#3) On May 01, 2008 at 12:13 PM, saunafool (98.77) wrote:

Hey, looking at 1991, when there was nary a bubble, prices didn't start rising consistently again until 1997. They just stopped falling as fast.

So, let's pretend you are in a bubble market like San Francisco. You pay $650,000 for a small place that might have sold for $750,000 only a year ago. Prices stop falling as rapidly, and only decline by an average of 4% in each of the next 5 years.

Is now a good time to buy? Will you feel better because the delcine is no longer so extreme? How much "equity" will you have remaining in 2013?

Your house will be worth $530,000. Probably still overpriced, but hey, SF is a great place to live, it deserves to be expensive.

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