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AuthorTopic: The Housing Market (Read 105 times)
Adam Miller
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The Housing Market
« Thread Started on Jun 25, 2007, 10:39am »		[Quote]
What do you think are the reasons for the struggling housing market?

Some blame the government, rising interest rates, and the economy. Others say that consumers have over-extended themselves and the market is reacting similarly. Can you explain this?
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facilitymachine
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Re: The Housing Market
« Reply #1 on Aug 28, 2007, 1:43pm »		[Quote]
I believe that the housing market is currently struggling mainly because of the lending institutions in the United States. The lenders made it too easy to get a loan, no financing, no credit, sometimes no job for support. What did they believe was going to happen?

The lending institutions wanted to cash in when the market was on the up and up, but instead they have set the industry back a few years, put the financial industry in a crisis management situation, dragged down the stock market, and put many families in jeopardy of losing their homes.
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Re: The Housing Market
« Reply #2 on May 21, 2008, 11:22am »		[Quote]
Another theory I have been hearing more and more recently is that the housing bubble burst because gas prices have risen so sharply. Many of the areas that have been hit hardest by foreclosures are suburban areas that surround employment hotspots.

Before gas prices began their "creep" upwards, many people were relocating further and further away from the city so as to escape the hustle and bustle. Housing prices rose as more people moved until it was no longer beneficial due to the cost of a gallon.

It reached a pinnacle when houses were selling up to 75% more than current prices reflect. Housing values reached a point where it was no longer feasible to save money on gas, taxes, and mortgage and the demand slowed drastically.
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