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  1. 01-23-2008, 08:47 PM #1
    AirborneSapper7
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    Coming Boomer Home Glut Casts Huge Shadow

    Coming Boomer Home Glut Casts Huge Shadow

    Wednesday, Jan. 23, 2008 1:43 p.m. EST

    Think there’s too many houses for sale now? Just wait.
    A new study by a professor at the University of Southern California details what is being called the "generational housing bubble.â€
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  2. 01-23-2008, 09:41 PM #2
    AmericanMe
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    Two CA tales of woe:

    Just last week, two friends of ours called a mortgage co. to refi their houses.

    Friend #1 paid $1.4M in '03 for a house in Calabassas. Father works for Countrywide...was laid off...and needed to take cash out. The appraisal came in at $900K! They are devastated...and upside down! And broke!

    Friend #2 paid $1.1 in '04 for a house in Santa Barbara. Dad was laid off...needed cash...appraisal came in at $750K! They are still in shock...!

    This is worse than anyone could have imagined; and I have a feeling CA is going to implode. The median price home in Ca is now off the highs of almost $600K and is now around $450K. And that's for a dumpy piece of property.
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  3. 01-23-2008, 10:09 PM #3
    AirborneSapper7
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    Cash will soon be King ... and you will get some of these million dollar homes at ROCK BOTTOM PRICES... because of other peoples stupidity in what appears to be the biggest white collar crime in US History
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