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Message
re: Home prices are now contracting at levels only seen 2 times
Posted on 9/23/23 at 11:55 am to SDVTiger
Posted on 9/23/23 at 11:55 am to SDVTiger
quote:
Equity is on pace for 7% growth this year
This is the national average
So some local areas that went up 40% will drop 20% but still be up 20%
This isnt going to be a 2008 meltdown
Posted on 9/23/23 at 12:01 pm to SDVTiger
quote:
So some local areas that went up 40% will drop 20% but still be up 20%
Oh so we should just ignore signs of contracting prices then. Every correction starts somewhere.
It's interesting data to watch to see if it turns into a trend or is just a blip.
quote:
This isnt going to be a 2008 meltdown
Yes, I have said 100 times it won't be. In a 3-year period, there were millions of houses foreclosed on. 2010 had 2.9 million foreclosures alone. That will remain the high water mark.
Things don't have to reach 2008-2010 levels to be detrimental.
Posted on 9/23/23 at 4:36 pm to SDVTiger
quote:
So some local areas that went up 40% will drop 20% but still be up 20%
Yeah that's not at all how math works. If something goes up 40% then is reduced by 20% the total gain is not 20%
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