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Thread: Avg Home Lost $69,750

  1. #1
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    Avg Home Lost $69,750

    Robbed of $69,750.


    That’s how much the average American lost in the value of their home as median prices plunged 31 percent in the last five years.

    • There are 18.4 million vacant homes saturating the market.

    • The unemployment rate is currently at 9.1%. However, the amount of people who are underemployed, which includes those who are involuntarily working part-time, is at 18.4%.

    • 28% of home owners have a loan for more than what their house is worth.



  2. #2
    Administrator Ken's Avatar
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    Quote Originally Posted by dBrong View Post
    That seems to be on a par with the average loss over here on an equivalent to US$400K to US$480K house or bungalow which is about the median cost of UK housing in my area. (£45K drop on a £250K to £300K dwelling.)

    Ken.
    Die dulci fruimini!
    Ken.
    Wolds Bikers, Lincolnshire, England.

  3. #3
    Ridin Dirty dom's Avatar
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    Doods, I paid 165k for my home. I put 22k down and have been making regular payments on it for the past 4 years. My taxed assessed value is 136k. I owe 120k on it and think on a good day might be able to sell it for 110k.

    Just pathetic..

    If I purchased a home toward the high end of what I was approved for at the time (near 250k) I would be sitting in a home upside down around 100k+.

    So happy I purchased a cheap first home. -even though I am upside down now

    The bottom has still not been reached, I'm sure.

    "Tutto nello Stato, niente al di fuori dello Stato, nulla contro lo Stato "
    -Mussolini
    All within the state, nothing outside the state, nothing against the state.

  4. #4

    Housing Prices

    Quote Originally Posted by Ken View Post
    That seems to be on a par with the average loss over here on an equivalent to US$400K to US$480K house or bungalow which is about the median cost of UK housing in my area. (£45K drop on a £250K to £300K dwelling.)

    Ken.

    Interesting comparison. Thanks for posting the racing/Honda shots. I've sometimes wondered if a sport like that might take adrenalin levels into uncharted territory. Calico is comfortably in control of her surroundings but Paddy may need a good talking to about a possible weight issue.

  5. #5
    Administrator Ken's Avatar
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    Quote Originally Posted by Marc View Post
    Interesting comparison. Thanks for posting the racing/Honda shots. I've sometimes wondered if a sport like that might take adrenalin levels into uncharted territory. Calico is comfortably in control of her surroundings but Paddy may need a good talking to about a possible weight issue.
    You are right, Marc. I'm certainly buzzin' and full of adrenaline when I come off track, that's for sure. I just wish they'd had trackdays for 'bikes back in the day when I was in my prime - the best I managed was back in the early 1960s, thrashing the BMW car range of the day around Brands Hatch.

    Calico is a dainty little miss but, at nearly eighteen years old, although she is still as lovable, she is no longer the beautiful kitten she was. Paddy, big as he is, is still within the weight range for a Maine Coon Cross. (OK so he is, maybe, a pound or so over the odds at nineteen pounds). Surprisingly he does not eat a lot, he gets four packs of food a day (Calico has three) but only eats about half the meat. He does lick all the gravy off though. The odd thing about him is that I have never seen him drink anything, not water, not milk, not tea. Unless he drinks from an unknown source he seems to get his liquid from the gravy with his food.

    Khen.
    Last edited by Ken; 10-11-2011 at 11:04 AM. Reason: Typo.
    Die dulci fruimini!
    Ken.
    Wolds Bikers, Lincolnshire, England.

  6. #6
    Administrator Ken's Avatar
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    Quote Originally Posted by dom View Post
    Doods, I paid 165k for my home. I put 22k down and have been making regular payments on it for the past 4 years. My taxed assessed value is 136k. I owe 120k on it and think on a good day might be able to sell it for 110k.

    Just pathetic..

    If I purchased a home toward the high end of what I was approved for at the time (near 250k) I would be sitting in a home upside down around 100k+.

    So happy I purchased a cheap first home. -even though I am upside down now

    The bottom has still not been reached, I'm sure.
    I've always gone on the basis that the price of a house, whether it goes way up or way down, is only a consideration when it is being used as collateral. Sure my house dropped about $70K but so did all the other houses. When my house goes back up again, so will all the other houses.

    Negative equity - providing one can keep up the payments if still on a mortgage - has never concerned me as, in the long term prices always seem to go back up again.

    Ken.
    Die dulci fruimini!
    Ken.
    Wolds Bikers, Lincolnshire, England.

  7. #7
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    The folks out in Las Vegas & LA ran into problems when they started regarding their house as an investment and source of income, when really all a house is is a place to sleep that keeps the rain off.

    Go watch George Carlin's take on "A place to store your stuff" for the insanity.

    Chip H.

    Former owner: 2012 Honda Civic LX, 2006 Honda Ridgeline RTL, 2000 Honda CR-V EX, 2003 MINI Cooper S, 1992 Honda Accord LX, 1999 Mercedes ML-320, 1995 VW Jetta GLX, 1991 Mercury Capri XR2, 1981 Mercury Zephyr, 1975 Chevrolet Impala

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