America's house price time bomb'Slow the slide'. Nice one.With the American housing market in its worst crisis since the Great Depression of the 1930s, President Bush is expected to sign into law a massive new government intervention designed to slow the slide.
Here is some purely anecdotal evidence that is no way indicative of current market trends except in the way it mirrors them all too well.
I purchased a home in 1995 for what seemed like an absolute steal at only $45,000. In 2003 I sold the same property for $140,000. That property was on the market again last month and sold for $35,000.
The good news; I no longer feel like a total shithead for cashing out my equity and spending nine months unemployed while blowing all the profit I made. It was better than the alternative.
3 comments:
So if you bought the house now for 35K do you think you could sell it again in five years for 25K? Maybe is was just worth so much when you sold it because it still had that Jake smell? Now without that it is worth a great deal less?
You know, I fucked a lot in that house. Even had a friend say to us one time, "Wow, your room smells like sex!" And women seem to stare at me quite a bit when I go out in public after fucking without showering. And the house was purchased from me by two women. Maybe it was the smell. I know my rent went up last year.
Want to triple your property value? Pay Jake to fuck in your house. Only $50 per square foot!
Is that based on the square footage of the house, or the square footage of the Jake?
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