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The Oregonian: Wednesday, August 16, 2006
Housing Market Loses its Boom:
Lower sales prices and higher inventory signal cooler times for Portland listings.
The Portland-area housing market has decisively cooled, resulting in a July median home price decline that bucks the-year trend of relentlessly rising values.
"The new market realities have frustrated sellers, such as Reid Biggs and his wife, Linda, who are hoping to sell their Hawthorne area bungalow and downsize to a floating home. Biggs said he spent $150,000 on second-floor rennovations six years ago and is annoyed with cosmetic fixes sold for more than $500,000 in last years overheated housing market".
Can you say; missed the f@cking boat pal?
Got it broke off right in the guh-zingus. (Sideways).
Best of luck getting over to that fully paid for floating home (which btw pay no taxes in OR) pal. I may have walked away from some upside selling on the last day of 2003 but this guys is now b@lls deep and NOW he's thinking about "using some protection"? Good luck with that Mr. Biggs as we now head into the doldrums for the Oregon market. They usually don't pick up again until at least March at which point Reid and Linda can look forward to Robert Cote's "Silent Spring" (the sequel).
People like this are helping us to re-define the term flipper.
Got equity?
Flip or re-fi!
SP,
If I was at the party I'd pretend to be sorry for her and ask her about her job search plans. Then she would give a blank stare and I'd explain that less supply (or less demand) means fewer listings for her to pocket.
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The housing bubble has encouraged behaviour in some market participants that can be considered immoral, or that is already illegal.
Which acts are illegal today and are appropriately prosecuted, which are illegal and are mostly slipping through the cracks?
What should be illegal, but is currently not?
How could laws look that address the issue, but minimize unintended side effects?
What punishment seems appropriate?
"Without cruelty there is no festival: thus the longest and most ancient part of human history teaches--and in punishment there is so much that is festive!" -- Friedrich Nietzsche
#housing