Thingish Things

Still Falling

Written By: William F. B. O'Reilly - May• 09•11

My wife is obsessed with checking real estate prices.  If you live within 100 miles of us, chances are that Corrinne knows what you paid for your house, what it’s worth now,  even what your real estate taxes might be. Perhaps that’s the lot of anyone buying near the peak of the market, which we did in December 2007. You just can’t let it go — even after you “let it go.”

At any given moment during the weekend, I can expect Corrinne to steal a look at her home computer screen and let out a little gasp. It’s not that she’s complaining.  We love our house and we have been blessed in so many ways; we don’t need to have been tapped by the Real Estate Fairy, too. Besides, we’re in our house for the long term, God willing. It’s just that she’s amazed by HOW MUCH BETTER A DEAL WE COULD HAVE GOTTEN THREE YEARS LATER!. But no obsessing.  No recalculating mortgage costs. No what ifs.

I don’t normally pay much attention to my wife’s findings — it would take away time I can spend teasing her about this neurosis — but, lately she has shown me the prices of some homes we looked at four or five years ago that are now back on the market.  I’ll admit it.  They are a freak out.

Now we read that real estate prices are again falling fast — faster than at any time since the supposed bottom-out year of 2008.  The new bottom prediction is late 2012.  The $22 billion the federal government spent trying to artificially prop up the market was a bust.

At some point prices are going to get so low that people will begin buying again.  Right?




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  1. Your Friend says:

    Another reason to believe that immigration is your friend, a fact I think we’re in agreement on. Eventually the old maxim about real estate will be true again — it’s a great investment because they don’t make it anymore. Of course, they don’t make typewriters anymore either.

  2. Your Friend says:

    Here’s a current article from Slate on the immigration issue. Somehow, I can’t see a great tide of support for this in middle America, but that’s no surprise.

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