OT: Drop in value of homes

Phil-In-Mich. · 2008-02-23T21:10:13+00:00

This is related to a news story I watched on a Cable TV news show:The story had the value of homes in California dropping more than 15% in some communities.And since there are several CA people reading this NG, I though I would ask---Is there any tracking between the drop in the value of homes, and the quality of the house construction? All of us here know there are good, better, and just barely passed code house constructions. Therefore, I would presume when the across the board values drop, the less desirable constructed (built) homes just might drop more. And the value of quality built homes just might hold up more.But, and this is just a guess, that it also just might be Location, Location, Location for the value of a house.Any one from California know if there is a difference between shoddy and good construction making a difference? Or is it still all style and no substance dictating the revised value of homes.Phil

Feb 23, 2008 61 Replies

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hallerb 18 years ago

well the unintended consquence was rolling way too much debt into homes, thus adding voltality to the market.

most people i know have done this and sadly will never pay off their homes, unless they live to over a 100

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Norminn 18 years ago

Please don't remind me ....... those were the days when babyfood and milk were repriced three times whilst they sat on the shelf in the grocery store. My folks had CD's .....13%?

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