PinkInTheBlue Posted August 3, 2008 Share Posted August 3, 2008 I realize that things happen and people find themselves having to sell when they didn't anticipate that...but I can't for the life of me figure out WHY people bought while prices were so inflated. I think people get blinders on when it comes to buying a house. Scarlett, I know what you mean. My brother insisted on buying a brand new house in a brand new, being-built neighborhood right outside of LA last year. He was positive that his 2400sq ft, $500,000 house would increase at least 30% in a year or two and he could sell it and make a fortune when they were ready to move back to this area. Now he's in a bit of a panic if he can even get it sold at the price he'll owe on it by the time they move. Especially in areas like his and Phoenix, all overinflated bubbles MUST burst! I would say room temp... neither awful nor great. It really depends on the type of house. The upper-end homes are still selling and being built, though not near as many and as fast as before. Prices have come down, but not as much as I thought they would. Still it's a buyers market! You' all come on down. :D Jenny, the prices in your area are great!! We were so certain we wanted to move to the Phoenix area but when began considering the Atlanta area we already love so much and saw the 50% less prices compared, we were sold! The strange thing is that I can get as much house in the ATL area as I can in my south Alabama town. I really expected ATL prices to be comparable to PHX but, yay, they aren't! :) P.S. This was my first double quote. Yeah me! Quote Link to comment Share on other sites More sharing options...
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