Housing Bust Recovery in 1930s

[spectrum2000now]

It shows that real estate investors getting richer each year?

[ThePretzelHead]

"Ohh, I know how wives are!"

[georgewu5]

HOW SOON ?---GEORGE WU, A.I.A.

[gjsterp]

Well, think about it. If housing prices crash, people who work at McDonalds will be able to buy homes, and people with better jobs will be able to pay them off sooner, which means less interest to the banks. We win and the banks lose.

Who really cares except the banks.

Let the housing market crash, along with the stock market, which is gambling called investing.

[DISCOKINGRORY]

What people do not realize is this has already happened in michigan. You can pick up 150k houses for about 30K now. Its coming to the rest of the USA soon.

[amjohnstone]

"Less than they pay for rent". We still have a long way to go. Even after the price drops over the last couple of years!

[yankeegurl62]

I wish the houses were still that price today, I could own one!!

[gjsterp]

Very interesting.

My house is currwently worth about $150K

In three years it could be worth $15 K

What a unique thought.

Taxes would be about $100.

Sounds good to me...

[pimmsUK]

Your taxes will not go down. How else will municipalies pay they're costs?

[JohnJFentiman]

Many people get their kicks looking at model homes. Even the husband is entranced by the modern accoutrements and ample storage space!

Talk about a slow news week :D

[BearByTheBay]

"Monthly payments less than rent", gives a good hint of when a housing recovery will start...

[Joyriser]

The 1930s are coming.If we dont all starve we could do with a crash so decent working people can afford houses! To raise house prices and rents faster than the level of salaries is criminal!If I did the same job as my father I couldnt now buy the same sized house as he did!When are we finally going to get wise to the fact that investors and landlords have been getting rich for years at our expense.NOW thats when!That is the reason this depression is going to be a BIGGY!!!!!

[hoehoealexio]

its the same as a mafia movie dont pay the corner mob! & they make you dissapear!

democracy regimes negate property rights, it negates the freedom of being able to have a place to live. democracy and (so called) libertarianism are in reality the hugest tyrany and poverty causing totalitarian systems in existence democracy regimes negate quality of life in general. just a bunch of fake liberty masks to hide the criminal tyrants behind the doings. Land of the dumb, home of the tyrants.

[hoehoealexio]

indian natives dont pay tax and still have services yet we americans dont even have the freedom to own tax free land without being extorted by political mafias at city hall all the way to the white house. taxing land citizens have already paid for is extortion , its fraud and its illegal, who gave political

mobs the criminal right to extort cash from citizens on a yearly and rising basis to drive people out of their homes.

[nickka2007]

My home in California dropped from 940,000 in 2006 to 499,000 in 2008 and I still can't sell it. I may have to drop another 100K to sell. Real estate definitely sucks right now. My wife keeps yelling at me that I should've sold earlier.

[TYX91101]

Buyers will be waiting for prices to drop even further. If you're lucky enough to sell the home, try renting for a few years.

[leeraconteur]

CA Median Price: It went up like this: 2001 210 2007 484 or 2001 210 2002 252 2003 302 2004 363 2005 436 That's 4 years of 20% increases, thus decreases can occur at the same rate.

[MtMozart]

Thank GOD for the Government! Sob!

[RemiG2006]

Did it a minute ago!

Mortgage Problems Explained

watch?v=9GsxGmR6uPk

LOL ;)

[antipovertycultz]

Any political candidate does mobocracy

Politicians use the mobocracy system in housing by charging taxes every year on the property you have already paid the day you cant pay you lose your house, like a mafia movie By increasing taxes every year there would comes a time

where you cant pay that high. The result would be mass homelessness for the middcle class and rising rents for the poor while wages stay low (below 10$ an hour)

[WNOE9BLOK]

so a housing crash is a blessing! believe it!

[WNOE9BLOK]

lets talk about democracy slave wages and homelessness, actually , dosent matter what regime it is , if there is economic growth and inflation in it , society will eventualy go poor, homeless, and hopeless.Prices of homes rose 12X since 1971 from 18.000$ to 200.000$ in 2005, RENTS WENT FROM 250$ TO 1000$ a month. Salaries hardly even doubled since then, you do the math

[spinoza1111]

That's from a time when Americans weren't terrorised by boss talk about the evils of government! My grandfather survived and prospered as a builder during the Depression in part from Keynesian stimulus and he voted for Roosevelt in 1936 despite being a Mark Hanna Ohio Republican.

Today, the sheep look up and are not fed.

[OtisWild]

"The husband apparently isn't very keen about it all, but you know how wives are!"

Paging Suzanne..

[horsetoothedjackass]

you are crazy. real estate can't go down 20% a year for five years. I'm buying everything i can buy, while you hide under the table. i appreciate people like you, afraid of your shadow. Shoot 90 as we say in golf...

[tuskenrayder]

It has before, why "can't" it now?

[armcrash]

LOL - "But, I've been in the biz for 20 years!" - Too bad it wasn't 80 years. Or, Japan in the 90s.

[lennyfest]

anybody that decides to buy property now is a fool real estae in america will decline a min of 20% this year , even more in certain areas , real estate went up 20% a year for the last 5 years it could very easliy go down 20% a years for the next 5 years , dont listen to real estate agents telling you its a great time to buy, thats bull shi t ,, realtors are liars , dont trust them .. dont buy wait and save big money ,

[johninves]

Hey lennyfest, you say real estate will drop 20% per year for 5 years at least.

Ok, let's use some mathematics to quantify your logic.

House worth $150,000 at 20% per year equals - $120K YR 1 - $96,000 YR 2 - $76,800 YR 3 - $61,440 YR 4 - $49,152 YR 5.

I don't think so lenny.

[lennyfest]

anybody that is thinking of buying a home in todays market need to wake up , wait dont buy , housingwill drop big time , could you afford to spend 100,000 more than you have to ,, dont buy ,

[dsholmes23]

MORTGAGE INDUSTRY EXPOSED!!!!!!!!

What every borrower must know

rmdirect . net <--- web site

[Polt07]

wow, amazing historic footage, thanks alot for posting it, amazing how cheap things were back then

[tubulu2]

I'm a non-practicing real estate broker in California. I haven't participated in the market for years. It's just not worth it until a 50% crash occurs in residential housing...

Cordially,

Still Waiting

[progrocker69]

If that home, even with its antiquated appliances, could be magically warped through time and transplanted into a middle-class 2007 neighborhood in new condition, I'd kill myself coming up with the $96k for it. You kidding me?? You can't buy a refrigerator crate on a quarter-acre for that now unless you're willing to relocate to the middle of nowhere.

[scatman44]

"You know how wives are!"

"Get up outta there, boy, and get going!"

[tradergordo]

One interesting thing to note as that the new model home in the video costs only the equivalent of $96,000 in today's inflation adjusted dollars. That just goes to show you how overpriced real estate is today by comparison. Of course those houses were much smaller than today's homes - but perfectly adaquate. Today everyone wants an enefficient oversized bohemoth of a house that they can barely afford (or in the case of creative financing, that they cannot afford).

[bottleovodka]

That home was more than adequate. Most of the people I know with huge houses don't even use all those extra rooms.

[geocam2]

There are millions of Californians who have been living off of their home equity, and they will soon be homeless and need soup kitchens and employment programs to survive.

[Sentinel4truth]

An amazing historic gem! Thanks so much to whoever found and posted this. The question is: will history repeat if credit is to contract in a modern day recession?