Post A Reply
my profile
login
|
register
|
search
|
faq
|
forum home
»
Allstocks.com's Bulletin Board
»
Off-Topic Post, Non Stock Talk
»
Housing predicted to drop for 2 more years :(
» Post A Reply
Post A Reply
Login Name:
Password:
Message Icon:
Message:
HTML is enabled.
UBB Code™ is enabled.
[QUOTE]Originally posted by R1 Man: [QB] [URL=http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=OBR&date=20080719&id=8913768]http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=OBR&date=200 80719&id=8913768[/URL] LONDON (Reuters) - Citigroup chairman Win Bischoff has warned that house prices in Britain and the United States are likely to keep falling for another two years. The chairman of one of the world's most powerful banks told the BBC in an interview that he expects it will take two years for the markets to stabilize. He also said he expected the credit crunch could continue through until 2009. Bischoff told the BBC that there would be redundancies at the bank, which employs 12,000 people in Britain, and warned that some of them would be compulsory. No further details were released of the interview which is due to be broadcast later on Saturday on the BBC News Channel (Reporting by Paul Majendie, Editing by Jon Boyle) Copyright 2008 Reuters I live in Detroit area. MOTOR CITY CAPITAL. Well in my neighborhood 5 years ago, housing sold for $155,000 average. Beginning of the year housing was selling for $87,000. Tuesday they sold a house for $35,000 CASH. Where the heck is housing going???? Foreclosures are on the rise. I had 6 houses on my street alone. 1 sold for $55,000. 1 for $35,000. 2 at $87,000 and the other just sold...not sure yet. But we are getting hit hard. Where is our city assessors....hmmmm.....they tax us at values that are FAR above curent selling value. When are they going to cut our rates???? What would happen if CITIES cut taxes based on market values. Would they go into huge defficiets???? I had one guy buy a house for $87,000 and he refinanced it for $145,000 and took the money and fled back to RUSSIA. Now that house is in foreclosure again. Whats next? [/QB][/QUOTE]
Instant Graemlins
Instant UBB Code™
What is UBB Code™?
Options
Disable Graemlins in this post.
*** Click here to review this topic. ***
Contact Us
|
Allstocks.com Message Board Home
© 1997 - 2021 Allstocks.com. All rights reserved.
Powered by
Infopop Corporation
UBB.classic™ 6.7.2