Your Qna     New Questions     About Qna
EQNA is a growing interactive people-knowledge network with more than 120,000 questions and 450,000 answers from over 55,000 members worldwide. With all friendly functions, EQNA will be a fun place to join, share and discover knowledge, an open net space allowing you to connect with other people having specialized knowledge or ones with same interests to yours. EQNA login features secured logins using Twitter and Facebook enable you to place questions without sharing your personal information to us. Lets get out and join our community today!
Ask a Question

Is the housing market in crisis?


In many markets yes. Check Phoenix out.
google "state of US housing markets." Recently several sources (i.e. Forbes, Time, etc) have ranked the worst and best housing markets.
Some markets are witnessing 60% declines in home values. The mortgage industry is even worse off.


South Florida should be in collapse shortly. It has been WAY overpriced for far too long. Phoenix is one of many other over priced and over-built markets. If you want the real skinny, read the undiluted information from

"Journalists" sometimes have trouble reading their own copy without moving their lips. ;-)

On the bright side, there are a few pockets of appreciation still out there.


In my opinion, things are going to get a whole lot worse before they get better. American Home Mortgage closed its doors leaving buyers stranded at the closing table with no funds. I just heard today that three other lenders are doing the same. The days of homeowners being able to buy and then move with a profit after realtor fees in a couple of years are gone. Homes are still selling...the hard part is that sellers won't accept what buyers are willing to pay. And the Golden Rule applies -- he who has the gold makes the rules. In crisis? Not yet...but sellers are going to have to lower their expectations. When that begins to happen, the market will turn around. There's just WAYYYYY too much inventory just about everywhere. Supply and demand...


Maggie, we have lost over 100 mortgage lenders, some larger than AHM and the minor player that recently filed bankruptcy. Many THOUSANDS of people have been left holding the bag at closing.

Profits at closing are still possible ... through short sales and foreclosure purchases. I will shortly be listing two new 3BR 2BA 3-car homes in neighborhoods of $250K+ homes. One appears to have never been lived in (it had) and has brand new Matag appliances. I will be listing them at around $180K. Do you think that is going to put some pressure on the dozen or so homes in the immediate neighborhood currently listed at $250K+? Will some have to sell short in order to move? Of course, on both counts.

I also have at my disposal 500+ new construction homes that are NOT listed anywhere -- $190K townhomes to $1.5 million. I will aslo be listing a half dozen executive homes built by the msot amazing hig-end builder in town. $650K to $1.2M ($150K to $250K below market).

You are correct. The slaughter has only begun. We will see a couple of REALLY big players take financial hits into the BILLIONS, as the markets correct themselves. I plan on doing A LOT of short sales -- and taking big commission cuts as a result. Banks like to spread the pain. ;-)



Just saw this, Scott. It's scarey, really. Three of my listings that just recently closed were the ONLY homes in the subdivisions that have sold. My broker asked me how I was getting the job done (one sold 1st day on market to a cash buyer; two others sold in just over 30 days, with one price adjustment each). I told him MOTIVATED SELLERS who were pickin' up what I was puttin' down -- trust. The last BUYER I had (in the $550 price range) looked at 64 homes before making his decision. He bought a twice-adjusted home currenty listed at $540 for $512. Our market is in disarray; well, not really!! But it's certainly in correction mode. (PS, I'm not working with buyers anymore this year...thought I'd have to eject my 64-homes-guy from my car!!) One good thing that's happening in this market -- the marginal agents are dropping like flies...the ones that make working with them a pain in the buttinsky. THAT is a wonderful thing.


in some states yea


Thank you for your invaluable and completely irrelevant uninformed answer, twit!




Crisis is way too strong a word, but in a recession, yes. It has been caused mostly by gimmicks, such as "sub-prime" and "3-2-1" lending techniques, and over-leveraging by borrowers.
Similar to the S&L debacle in the 1980's, it is going to take public funds to resolve this. Damn shame.
Ponzi is alive and, ahem, well.


Nothing Ponziesque about the housing or mortgage markets. These markets have been driven skyward by borrower fraud, realtor greed, loan officer incompetence, appraiser collusion, lender insolvency, and government malaise.

Oh Russ, don't be so naive! This will make the S&L scandal pale by comparison.

We will soon have nearly two TRILLION dollars in adjustable rate mortgages whose interest rates will begin to index upward (generally 2% to 3% higher than the start rate). Most of those who borrowed 100% LTV will not qualify to refinance their own homes.

Or do you think that borrowers anticipated a 60-80 point swing in credit scores (per underwriting guideline changes in recent months), and have dramatically improved their spending habits since buying a home? What do ya think that'll do to the housing inventories and mortgage markets?

I prefer to leave Ponzi schemes to the experts in government (e.g., Socialist Insecurity). Just wait until the wheels come off THAT one!

Text ColorBackground Color
Ordered ListBulleted List
Horizontal Rule
Design ModeDesign
Html ModeHtml

Top Question And Answer

  • how do i get the street by street listing of housing values that you ran Tues 9/4
  • What do you think that the out come of our housing market problem is going to be?
  • Do you know any websites featuring tips on how to manage housing for the elderly?
  • any one familiar with Opp Alabama? employment, housing, etc.....
  • I've started a redevelopment company, rehabbing 24 homes for low income housing. Trying to hire 30
  • does anyone thinks, FED might cut rates tomorrow to ease the Housing Mess ?
  • Where online can I find information on how fast housing is going on the market and selling within a
  • I am looking for information on section 8 housing in plainfield, IL (will county).
  • Is Free Market a fairytale?
  • What is your best good get at a flea market or second hand store?
  • What is the best Industrial/commercial embroidery machine on the market?
  • Do you own any stocks on the market? Please tell how they are doing. I own stock in Coke.
  • how large is the Q&A service market?
  • Did you purchase or sell any stock today? How do you feel about the stock market today?
  • do you think it is the right time to buy a house or still wait till the market drops further?
  • The President is going to speak on the economy at 2:00. How will the stock market do?
  • What do you think of British Vauxhall's proposal to deal with their current business crisis? (GM is
  • What do you think of British Vauxhall's proposal to deal with their current business crisis? (GM is
  • Discuss the factors leading to the subprime mortgage financial crisis in 5 words or less.
  • Does America suffer a crisis of integrity in business and government?
  • Going through my Mid-Life crisis...What should I do next?
  • Did you know Congress could provide immediate relief of the gas crisis at the pump?
  • Will someone please explain something to me about the current gasoline price crisis? It seems to
  • How might Ghandi approach solving the 'gas crisis'?
  • I want to buy a bag,what is the
  • How is
  • Www.mokahandbags .com
  • Facebook new account opening form
  • Hom account
  • Hom bhr0165301533
  • Hom account
  • Hom bhr0165301533
  • how do I get mms message fro.
  • Find out how many cars of my model are registered
  • What would happen if a letter opens in the mail
  • Facebook new account open
  • Facebook New Account Creation
  • Facebook new account creation
  • locating a business that closed