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You are here: MacNN Forums > Community > MacNN Lounge > The US real estate bust is imminent?

The US real estate bust is imminent? (Page 7)
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Eug  (op)
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Sep 10, 2012, 05:00 AM
 
Originally Posted by ShortcutToMoncton View Post
In all fairness, you apparently started out your (factual) discussion by supplying completely incorrect facts. So.....someone has called you on it, and now you're getting pissy with them?
That's what I was thinking.
     
Shaddim
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Sep 10, 2012, 05:29 AM
 
Originally Posted by Wiskedjak View Post
In a thread discussing how people are losing their shirts as a result of the real estate crash, you want to discuss "hey, there are some good values out there"? In that case, I would have been clear about that from the start ... or started up a completely different thread.

Originally Posted by ShortcutToMoncton View Post
In all fairness, you apparently started out your (factual) discussion by supplying completely incorrect facts. So.....someone has called you on it, and now you're getting pissy with them?
Does TN have anything as modern as a public housing registry? If so it'd be easy enough to figure out the selling prices, private sale or no. If you're actually looking at buying this property, you must have that information on hand, right? Scan it in for us to show the $3 million sale price, then....
People, your reading comprehension skills are sh*t, sorry to say. They aren't "completely incorrect", although the supplied information may be incomplete. You do see the difference, right? You did read that I wasn't looking at buying the property, right? Or are you all just going to jerk in a circle and follow the same old tired MO as usual, MacNN gangbang style?

As for the "boohoo, people losing their shirts" garbage. You don't give a tinker's damn, you're just using that as an excuse because I called you on waltzing in here, thinking you're hot sh*t because you know how to use Tineye, and blowing up the discussion I had in mind, and for no other reason than to just be an ass.

I think that about covers it.


Originally Posted by Eug View Post
That's what I was thinking.
No, it wasn't. It was your knee responding to the usual stimuli. I know, you're still upset because I don't like the Kindle Fire or the Prius. Geez, let it go already.
"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it."
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Eug  (op)
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Sep 10, 2012, 06:15 AM
 
He doth protest too much.
     
ShortcutToMoncton
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Sep 10, 2012, 07:08 AM
 
Originally Posted by Shaddim View Post
People, your reading comprehension skills are sh*t, sorry to say. They aren't "completely incorrect", although the supplied information may be incomplete. You do see the difference, right? You did read that I wasn't looking at buying the property, right? Or are you all just going to jerk in a circle and follow the same old tired MO as usual, MacNN gangbang style?
In a thread about "US real estate bust" you:

1. Posted a picture of an expensive-looking house and listed some of the nice features;
2. Asked people to guess what it was going for now;
3. Said it was sold for $3 million shortly after it was built "not too long ago";
4. And finally, in another post, said it was now being offered for $1.3 million.


Apparently some research on the sale history of this house by another poster revealed that it may never have been sold for anywhere close to $3 million. So what would be a re-sale value of 45% turns into a resale value of 75%.

That's a huge difference to the impact of your story, bud. Sure, 25% is huge, but it is more in line with a significant correction or shifting demand rather than a crash - especially for houses in the multi-million price range, which generally see larger price fluctuations in any case. As well, another factor to consider is that the style is somewhat polarizing (some might and have said "ugly") - and there's plenty of examples of constructors losing their shirts on high-end houses that cost a fortune to build and simply won't sell because they didn't properly target the market who would be buying the house. In fact, there's one just up the street from me that was originally listed at $1.4 million - now the builder is down to $800,000 and it's simply not going to sell until he further drops his price, because he stupidly built the wrong house on the wrong lot in the wrong neighbourhood. But it's not really helpful to this thread if I used that particular house as a market evaluator, is it?

People are just pointing that out. Get off your high horse for a minute.
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Eug  (op)
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Sep 10, 2012, 07:17 AM
 
Originally Posted by ShortcutToMoncton View Post
In fact, there's one just up the street from me that was originally listed at $1.4 million - now the builder is down to $800,000 and it's simply not going to sell until he further drops his price, because he stupidly built the wrong house on the wrong lot in the wrong neighbourhood. But it's not really helpful to this thread if I used that particular house as a market evaluator, is it?
Actually, I'm curious about that one. What's wrong with it?

I went to see a house once that was in a nice neighbourhood on a nice lot. Inside the finishes were good quality. Not super high end or anything, but better than average. However, the front face of the house was just fugly. Similarly, the interior of the house, although built with good finishes, just didn't look great. The problem was it looked like it was designed by a contractor, not a designer. You can't just slap together good quality items and hope the final product gels well, esp. if you're a guy with no taste. It was like he built an 1980s hotel suite with good quality modern finishes. It was just odd.

Ironically, the place got a decent offer just 1 week after it was listed. However the builder was greedy, and didn't like that offer, and declined it. It then sat on the market for a year until it sold... for much less.

BTW, when I called, the real estate agent offered right up front to drop the price $20000 just so I could redo the entire front face of the house. Apparently quite a few people felt the same way that I did about its aesthetics.
     
BLAZE_MkIV
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Sep 10, 2012, 07:28 AM
 
Wait. .3 acres? So big expensive house, with no yard and no urban amenities.
     
Shaddim
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Sep 10, 2012, 07:40 AM
 
Originally Posted by Eug View Post
He doth protest too much.
God has given you one face, and you make yourself another.

Originally Posted by ShortcutToMoncton View Post
*blah*
You can keep posting your bullet points, but I've already addressed those comments and I'm not repeating myself.

People are just pointing that out. Get off your high horse for a minute.
People don't "point things out" around here, they act like asshats and then dogpile others who either call them on it or disagree with them. You do recognize that's one of the reasons this place has collapsed, right?
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ShortcutToMoncton
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Sep 10, 2012, 08:00 AM
 
You're sure it's not because some people can't admit, at all, when they're actually wrong? Not even a little bit? I mean, it looks to me as though you've just been exposed red-handedly exaggerating/lying about the price of that house in order to make a point. Your response is now, of course, to repeatedly claim that everyone else is the problem with this thread and/or this forum - and then to simply refuse to continue talking on the subject. There are simple answers for the discrepancy - a sale for $3 million in 2007 for example - but your immediately defensive attitude in response to the evidence presented on the asking price was amusing to say the least.

I'll say it again: get off your high horse.
Originally Posted by Eug View Post
Actually, I'm curious about that one. What's wrong with it?

I went to see a house once that was in a nice neighbourhood on a nice lot. Inside the finishes were good quality. Not super high end or anything, but better than average. However, the front face of the house was just fugly. Similarly, the interior of the house, although built with good finishes, just didn't look great. The problem was it looked like it was designed by a contractor, not a designer. You can't just slap together good quality items and hope the final product gels well, esp. if you're a guy with no taste. It was like he built an 1980s hotel suite with good quality modern finishes. It was just odd.

Ironically, the place got a decent offer just 1 week after it was listed. However the builder was greedy, and didn't like that offer, and declined it. It then sat on the market for a year until it sold... for much less.

BTW, when I called, the real estate agent offered right up front to drop the price $20000 just so I could redo the entire front face of the house. Apparently quite a few people felt the same way that I did about its aesthetics.
Very similar situation, I think. House is too big for the lot, decorated terribly, stuck in the wrong neighbourhood, situated on an awkward lot - you name it. Just stupid all-around decision by the builder.
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Shaddim
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Sep 10, 2012, 09:18 AM
 
Originally Posted by ShortcutToMoncton View Post
You're sure it's not because some people can't admit, at all, when they're actually wrong? Not even a little bit? I mean, it looks to me as though you've just been exposed red-handedly exaggerating/lying about the price of that house in order to make a point. Your response is now, of course, to repeatedly claim that everyone else is the problem with this thread and/or this forum - and then to simply refuse to continue talking on the subject. There are simple answers for the discrepancy - a sale for $3 million in 2007 for example - but your immediately defensive attitude in response to the evidence presented on the asking price was amusing to say the least.
I'll say it again: get off your high horse.
If you're trying to call me a liar just because I was going by the info in front of me, then **** you. I wasn't attempting to deceive anyone. FYI, I've changed my views, admitted mistakes, and even apologized many times on this forum over the years (do a search of "apologize" or "sorry" with my alias, you'll see lots and lots). I don't need you trying to point at me when it's clear you aren't paying attention to the direction of your other fingers.

The <$3M statement made little difference, at all, I was stating that that was likely the range when it first sold, the pre-sale valuation was in that range. The thought process was to see what people felt the house was worth, to get an idea how they arrived at their opinion of the value.

Yes, the people on this forum have a problem, and many of them are the problem. You can bury your head in the sand, but it's obvious when you look at the current size of the population and notice that most of the more interesting people have fled.
"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it."
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ShortcutToMoncton
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Sep 10, 2012, 10:03 AM
 
I said "looks". I deliberately phrased it that way, because I don't know whether you lied, or exaggerated, or were mistaken, or what have you. The issue I have is your defensiveness - it seems quite obvious that you made a mistake somewhere, but not only did you completely refuse to admit it, you jumped straight down the throat of the poster who actually did do his research and (politely, I might add) pointed out the discrepancy.

As for the "interesting people" comment: many of them didn't flee, they were expelled. Or, they are too busy doing More Interesting Things. In my view, a large percentage of the "most interesting people" on MacNN were also strong candidates for the "most crazy people" category - I see absolutely no evidence that these people were somehow the bastions of good grace, team spirit, and polite discourse around here.

There are many other wildly successful forums on the internet with members as snarky or snakier than MacNNers. MacNN is dying because the Apple landscape has changed and MacNN hasn't adapted; and, anyone who would like to discuss their Mac are Googled elsewhere, such as on Apple's own forums.
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Athens
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Sep 10, 2012, 10:20 AM
 
Mean while in Vancouver this place goes for 1 Million http://www.realtor.ca/propertyDetails.aspx?propertyId=12281232&PidKey=-406817618 and this place goes for 1.4 Million http://www.realtor.ca/propertyDetails.aspx?propertyId=12373652&PidKey=15 52420066

50 year old home and one possibly 80 years old or more.
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Sep 10, 2012, 10:32 AM
 
Neither of those look like they should go for even half that. The first is downright tiny and no land. The second is nicer, but still... for that cash I could buy a nice Tudor in Brookline.
     
Eug  (op)
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Sep 10, 2012, 11:00 AM
 
Originally Posted by Athens View Post
Mean while in Vancouver this place goes for 1 Million http://www.realtor.ca/propertyDetails.aspx?propertyId=12281232&PidKey=-406817618 and this place goes for 1.4 Million http://www.realtor.ca/propertyDetails.aspx?propertyId=12373652&PidKey=15 52420066
50 year old home and one possibly 80 years old or more.
Crack Shack Or Mansion
     
Athens
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Sep 10, 2012, 01:45 PM
 
Originally Posted by andi*pandi View Post
Neither of those look like they should go for even half that. The first is downright tiny and no land. The second is nicer, but still... for that cash I could buy a nice Tudor in Brookline.
Vancouver is a investment city for South Asia. They park money here through property investments causing everything to be highly inflated. You are paying for the land. What is on top of it is worthless. Those where typical examples. I could have shown you worse looking homes for even more, in the 2 million range.
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