The property market is heading for a titanic.
2007-11-20 09:45:15 · 16 answers · asked by Beckham 1 in Business & Finance ➔ Renting & Real Estate
Half? I have not heard of any neighborhoods that bad.
My neighborhood is about the same as it was before, one is every 500 houses is for sale. They used to sell within 24 hours, but are taking a few weeks these days.
In my city as a whole about 1% is for sale, which is really high for any given time.
2007-11-20 10:12:33 · answer #1 · answered by Anonymous · 1⤊ 0⤋
There are only a few markets where the 'property market is headed for a Titanic". These include Southern California, Ohio, and Southern Florida.
And those are the markets which make all the news. In the remainder of the nation, it's nowhere near as bad as the picture is painted. Where I live, there is one house for sale, and that's because it's an estate sale.
2007-11-20 09:53:50 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
There are about 2,000 properties on the market in my area. Some of that is land, but I'm sure houses are well represented also.
Some select markets are experiencing more problems than others. Blanket statements such as your "property market is heading for a titanic" are reckless and untrue.
2007-11-20 10:00:52 · answer #3 · answered by godged 7 · 0⤊ 1⤋
I live in a suburb of Chicago. There are not a lot of houses on the market right now. A lot of people bought in the past few years and probably realize that they can't break even trying to sell in this market.
2007-11-20 09:49:02 · answer #4 · answered by HEATHER 6 · 0⤊ 0⤋
I'm an estate agent - houses are barely selling at the moment. Many are up for sale because of the introduction of HIPS - but buyers are waiting for interest rates to go down.
So no, half my area are not selling - they are just trying to!
2007-11-20 10:09:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Sounds familiar to me too. I live in Orange County, CA. When I bought my house 6 years ago, there were only 35 homes in the city I live in that were for sale. Bidding wars were still happening. Now, I just learned there are upwards of 150 homes for sale in my city! And the homes in my neighborhood are staying in the "For Sale" status for very long! Nobody is buying seems like.
2007-11-20 09:49:37 · answer #6 · answered by Cassie Burger 2 · 0⤊ 0⤋
Mine's been gone for a while, a ton of people are selling in my area too, and mine was at 715K I could never sell it, it's a good area in Los Angeles, it is a jungle out there it is wild and crazy and yes this market is about to sink!!!
Good bye to homeownership...........
2007-11-20 10:05:41 · answer #7 · answered by Fair & Savvy 6 · 0⤊ 0⤋
people are selling on my estate, problem is they are the buyers just buy to let and fill them full of smack heads and anyone who can get benefit guaranteed rent don't give a toss about the real community
2007-11-20 09:51:38 · answer #8 · answered by markie 2 · 0⤊ 0⤋
Same here. Some houses are now owned by the bank.
2007-11-20 09:49:05 · answer #9 · answered by Belen 5 · 0⤊ 0⤋
No normal person can afford to buy in my area so there aren't many houses for sale.
2007-11-20 09:49:25 · answer #10 · answered by CTRL Freak 5 · 0⤊ 0⤋