[deMolay]

Again the experts say it is over. Get back into the market. Now is the time to buy. You can make a killing. http://www2.macleans.ca/2009/04/15/on-the-front-lines-of-america%E2%80%99s-meltdown/?ref=patrick.net

[patience]

Quote:
"At the peak in 2005 the median house price in Merced was $382,000. Today it’s just $105,500."

Maybe someday the prices will get down to something realistic, like 2x to 2.5x average income. With lots of job losses and incomes dropping, I'd say that home prices have a ways to go yet, particularly in California.

[heroineworshipper]

Cheaper to buy an airplane & fly 80 miles to work than it is to buy a house in Silicon Valley.

[ReverseEngineer]

$this->bbcode_second_pass_quote('patience', 'Q')uote:
"At the peak in 2005 the median house price in Merced was $382,000. Today it’s just $105,500."

Maybe someday the prices will get down to something realistic, like 2x to 2.5x average income. With lots of job losses and incomes dropping, I'd say that home prices have a ways to go yet, particularly in California.

[shortonoil]

$this->bbcode_second_pass_quote('', 'S')o with average incomes approaching ZERO, the realistic price of 2.5X ZERO is still ZERO.

[ReverseEngineer]

$this->bbcode_second_pass_quote('shortonoil', 'Y')ou’re better in math than I thought! What was the comment a few days ago? “You may not be as good in math as I thought”.

[shortonoil]

$this->bbcode_second_pass_quote('', 'T')he belief is stil there that it means something though, so you still have the clowns at the G20 meetings proposing all sorts of dumbass ideas to make it function like making SDRs a reserve currency. "Let's exchange one piece of worthless paper for another piece of worthless paper and it will be worth more!" Astounding how stupid people are in general.

[Roy]

$this->bbcode_second_pass_quote('', '[')b]Buyers for expensive homes hard to find

hen people of a certain income level consider moving to the Asheville area, they're drawn to the mountains, the city's cultural amenities — and high-end housing developments.
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During the first part of this decade, that segment of the real estate market — typically planned communities where homes start at $500,000 and run into the millions — was white hot.

But the downturn in the economy hit the upper end of the development industry hard last year, although developers say interest is picking back up this spring.

“Last year was a difficult year for master-planned communities and maybe for the real estate market in general,” said Harry Redfearn, founder and president of Asheville-based Private Mountain Communities, which serves as a sort of real estate clearinghouse for people looking for homes or lots in upscale communities.

“Most of our developer clients were off (in sales) 40-60 percent” in 2008 compared with a year earlier, he said.