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On Housing, ‘Worst Is Yet To Come'

Submitted by Bruce Bartman, Mar 27, 2007 19:08

We are just at the beginning of this Housing Crash. Just look at how ridiculous things got. Homes appreciatated from 2003-4. 80%-90%! Totally ridiculous! Have wages increased over the same time 80%-90%? NO! GREED fueled housing appreciatation, just GREED. Now, its time to pay the piper. Easy credit, no downs, 100% financing,WOW. We ain't seen nothing yet, folks! 2 Million foreclosures is conservative, affecting Sub-Prime borrowers. Add another 1-1.5 Million Alt A borrowers into the mix, and you will see a financial crisis of epic proportions. I don't foresee any normalcy in the housing market until 2011-12. Hang on, cause its gonna be a wild ride!


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Other reader comments on this article

Comment By Date

In all of the negative commentary I've read in response to my factual comments, I have heard nothing FACTUAL that... [MORE]

Kenneth J. Jones 

Mar 29, 2007 08:36

Jones -- Your fondness for capital letters and smug indignation doesn't substitute for the FACT that you haven't answered any... [MORE]

BLANEY 

Mar 29, 2007 18:41

"To the ignorant and depressed among us:" Kenneth Jones? Did you even bother to read the response to YOUR ignorance,... [MORE]

Roy A. Hughes, III 

Mar 29, 2007 22:21

Mr. Jones- Your attempt to paint a rosy outlook on the housing market is kind of sad. I realize you... [MORE]

Cornelius 

Mar 28, 2007 15:17

It is now April 12, 2007. Ive been in phoenix for about 6 weeks looking for a home and am... [MORE]

bank of amigo 

Apr 12, 2007 12:26

Dear Mr. Case: I don't doubt the experiences of you and your friend. However, isolated cases of personal experience, upleasant as... [MORE]

Kenneth J. Jones 

Mar 28, 2007 07:00

There is one hint that prices will drop. No one can afford even a decent condo today. If you have... [MORE]

Blaney 

Mar 28, 2007 18:14

I for one agree with what Mr. Case's article contained and let me tell you why... My wife and I bought... [MORE]

Roy A. Hughes, III 

Mar 28, 2007 21:53

Mr. Krystofiak is apparently not a student of history. IN FACT, during the worst real estate markets since the great... [MORE]

Kenneth J. Jones 

Mar 28, 2007 05:01

While I haven't read the NAR data to which Mr. Jones refers, I DID live through the late 80's and... [MORE]

Rick Case 

Mar 28, 2007 06:31

I lived in Austin TX from 1983-95...The 1985-92 bust ranged from 25% to 50% decline depending on location and quality... [MORE]

Army No. Va. 

Mar 28, 2007 21:13

Your story is right people making 40,000 a year can never repay a 500,000 fix @ 30 years let alone... [MORE]

notarealtor 

Mar 27, 2007 20:38

We are just at the beginning of this Housing Crash. Just look at how ridiculous things got. Homes appreciatated from...

Bruce Bartman 

Mar 27, 2007 19:08

Many people believe that this will all blow over in a few months. Most don't understand the causes of the... [MORE]

Don 

Mar 27, 2007 15:45

We won't have hit bottom until it becomes "common knowledge" that it never makes sense to buy when you can... [MORE]

Paul 

Mar 27, 2007 12:50

I'm amazed by economists who can't clearly see that housing is going to be in trouble for the next few... [MORE]

Charlie 

Mar 27, 2007 09:18

D: Most major economists like Paul Krugman of Princeton and Schiller of Yale have been saying there is and will be... [MORE]

bababoey 

Mar 27, 2007 08:22

Dan Great article. We definately have not seen the worst of this real estate downturn. As a real estate broker and... [MORE]

Stan 

Mar 27, 2007 01:01

I have been following the housing market for a bit more than 2 years now. I think Mr. Green Span... [MORE]

Vu Nguyen 

Mar 27, 2007 19:45

In many parts of New York City values seem to be holding up. In Brooklyn we still have areas moving... [MORE]

Marc 

Mar 27, 2007 20:44

Lenders have provided programs to qualify most any buyer today. Loan officers are not properly trained to sell sophisticated mortgage products.... [MORE]

Jim 

Mar 28, 2007 10:29

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