Comments on: Will housing kill the consumer? http://njrereport.com/index.php/2007/10/22/will-housing-kill-the-consumer/ Real Estate, Economics, and Politics Thu, 09 Feb 2012 05:47:16 +0000 hourly 1 http://wordpress.org/?v=3.0 By: kgl http://njrereport.com/index.php/2007/10/22/will-housing-kill-the-consumer/#comment-130280 kgl Tue, 23 Oct 2007 04:30:49 +0000 http://njrereport.com/index.php/2007/10/22/will-housing-kill-the-consumer/#comment-130280 I see it in parts of North Jersey but things are selling. Try to move to the Jersey Shore Belmar, Wall, Point, Things don't look so bd prices are high and not falling much My question is: Will the shore area see price declines for the middle class sitting on the sideline potential buyer? I see it in parts of North Jersey but things are selling. Try to move to the Jersey Shore Belmar, Wall, Point,
Things don’t look so bd prices are high and not falling much My question is: Will the shore area see price declines for the middle class sitting on the sideline potential buyer?

]]> By: Anon E. Moose http://njrereport.com/index.php/2007/10/22/will-housing-kill-the-consumer/#comment-130246 Anon E. Moose Mon, 22 Oct 2007 19:24:08 +0000 http://njrereport.com/index.php/2007/10/22/will-housing-kill-the-consumer/#comment-130246 Like so many things, the media gets the cause and effect exactly wrong. Consumer spending isn't going down because home prices are dropping - its going down because they went up too far too fast. Like a fire in an enclosed space that sucks up all the oxygen leaving people to die not from smoke or burns but from asphyxiation, I believe that consumer spending is falling because every last dollar of a $50k salary is going to pay the $500k mortgage. Like so many things, the media gets the cause and effect exactly wrong. Consumer spending isn’t going down because home prices are dropping – its going down because they went up too far too fast. Like a fire in an enclosed space that sucks up all the oxygen leaving people to die not from smoke or burns but from asphyxiation, I believe that consumer spending is falling because every last dollar of a $50k salary is going to pay the $500k mortgage.

]]> By: Bubbling http://njrereport.com/index.php/2007/10/22/will-housing-kill-the-consumer/#comment-130199 Bubbling Mon, 22 Oct 2007 15:20:35 +0000 http://njrereport.com/index.php/2007/10/22/will-housing-kill-the-consumer/#comment-130199 Nothing surprising .Homeowner have unrealistic sale price expectations( my self included).We got spoiled by awesome profits from homes for way to long. If we are were to be realistic no home is actually worth that much money. More realistic view would be to 30% -50% in home price reductions. Nothing surprising .Homeowner have unrealistic sale price expectations( my self included).We got spoiled by awesome profits from homes for way to long. If we are were to be realistic no home is actually worth that much money. More realistic view would be to 30% -50% in home price reductions.

]]> By: Jill http://njrereport.com/index.php/2007/10/22/will-housing-kill-the-consumer/#comment-130179 Jill Mon, 22 Oct 2007 14:17:24 +0000 http://njrereport.com/index.php/2007/10/22/will-housing-kill-the-consumer/#comment-130179 Agree with BklynHawk. One reason that the jobs picture hasn't gotten more attention is that the home piggy-bank has masked the fact that prices are going up and wages are remaining stable or declining (the latter for those who find themselves out of work and having to look for new jobs). Why do you think immigration is such a big issue now? It's all a huge distraction from the systematic evisceration of the middle class emanating from Washington. Agree with BklynHawk. One reason that the jobs picture hasn’t gotten more attention is that the home piggy-bank has masked the fact that prices are going up and wages are remaining stable or declining (the latter for those who find themselves out of work and having to look for new jobs). Why do you think immigration is such a big issue now? It’s all a huge distraction from the systematic evisceration of the middle class emanating from Washington.

]]> By: Everything's 'boken http://njrereport.com/index.php/2007/10/22/will-housing-kill-the-consumer/#comment-130159 Everything's 'boken Mon, 22 Oct 2007 13:10:43 +0000 http://njrereport.com/index.php/2007/10/22/will-housing-kill-the-consumer/#comment-130159 1.7 Americans! 1.7 Americans!

]]> By: BklynHawk http://njrereport.com/index.php/2007/10/22/will-housing-kill-the-consumer/#comment-130137 BklynHawk Mon, 22 Oct 2007 10:41:40 +0000 http://njrereport.com/index.php/2007/10/22/will-housing-kill-the-consumer/#comment-130137 The answer is a big yes on this. I think people have completely tapped out their home ATM's during this boom and now will spend many years paying that off. I don't think it has shown up yet because it's not as obvious with people making minimum credit card payments and other loans not being scrutinized in public as much as mortgages. The answer is a big yes on this. I think people have completely tapped out their home ATM’s during this boom and now will spend many years paying that off.

I don’t think it has shown up yet because it’s not as obvious with people making minimum credit card payments and other loans not being scrutinized in public as much as mortgages.

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