Comments on: Hogwash and Growing Economic Concerns https://realtybiznews.com/growing-economic-concerns/9876992/ With the latest on mortgages, refinancing, real estate & home tips Sat, 12 Nov 2011 19:00:15 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Phil Butler https://realtybiznews.com/growing-economic-concerns/9876992/#comment-56067 Phil Butler Sat, 12 Nov 2011 15:59:12 +0000 https://realtybiznews.com/?p=6992#comment-56067 Thanks Lee, we now know which side of the aisle you are on :) Always, Phil Thanks Lee, we now know which side of the aisle you are on :)

Always,
Phil

]]> By: Lee Hudman https://realtybiznews.com/growing-economic-concerns/9876992/#comment-56046 Lee Hudman Sat, 12 Nov 2011 15:20:56 +0000 https://realtybiznews.com/?p=6992#comment-56046 Wow. You seem to forget (or simply ignore) many things in your angry rant. Such as: when someone buys a home, they usually also buy stuff to go in that home and need the services of others, which in turns puts money in the pockets of the people that they buy stuff from, which in turn gives those people money to spend on stuff - and so on and so on. And.. real estate is cyclical. Just like economies. Prices go up. Prices go down. You should try looking at the long term history of real estate values. And.. we have to live somewhere. Are we to become a nation of renters? Someone still owns those rental properties. And... all real estate is local. Not all areas saw 30-40+ drops in value. In my own city, we've only seen about 15% and that is completely due to the time that it sells, not forclosures. There are few of those because we did not have a bubble to burst. Part of the problem is that there are so many out there, like you and the mass media, that are making the broad statements about the real estate market that are simpley not true across the board, yet the public doesn't know that. I call this the "Chicken Little" syndrome. But, the sky is not falling. Wow. You seem to forget (or simply ignore) many things in your angry rant. Such as: when someone buys a home, they usually also buy stuff to go in that home and need the services of others, which in turns puts money in the pockets of the people that they buy stuff from, which in turn gives those people money to spend on stuff – and so on and so on. And.. real estate is cyclical. Just like economies. Prices go up. Prices go down. You should try looking at the long term history of real estate values. And.. we have to live somewhere. Are we to become a nation of renters? Someone still owns those rental properties. And… all real estate is local. Not all areas saw 30-40+ drops in value. In my own city, we’ve only seen about 15% and that is completely due to the time that it sells, not forclosures. There are few of those because we did not have a bubble to burst. Part of the problem is that there are so many out there, like you and the mass media, that are making the broad statements about the real estate market that are simpley not true across the board, yet the public doesn’t know that. I call this the “Chicken Little” syndrome. But, the sky is not falling.

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