(Rated R): The Fed's housing aim - Page 2 - Mercedes-Benz Forum

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post #11 of 37 (permalink) Old 11-10-2005, 01:50 PM Thread Starter
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RE: (Rated R): The Fed's housing aim

Quote:
ThrillKill - 11/10/2005 2:06 PM

Quote:
Shane - 11/10/2005 1:41 PM

Homes will get cheaper if you can afford to wait awhile.
You're smoking something that is illegal in most states.
Germanstar:
I recently sold my house in Michigan and now looking in Chicago Suburbs (recently moved here) and I get a sticker shock whenever I compare house prices between Detroit Suburbs and Chicago Suburbs.

Shane/ThrillKil: I do believe the house prices will come down due to 1. interest rate pressure, and 2. this housing party is going on for a while now. But the real question is WHEN will this bubble burst!!





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post #12 of 37 (permalink) Old 11-10-2005, 02:38 PM
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RE: (Rated R): The Fed's housing aim

The highend market has had some slow down with some owners lowering prices.
However for most moderate neighborhoods ($500k-$750K) not much movement in prices although homes are on the market a bit longer.
Timing in the year also may effect this as less people are willing to move during the holidays.
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post #13 of 37 (permalink) Old 11-10-2005, 03:54 PM
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RE: (Rated R): The Fed's housing aim

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firstmb - 11/10/2005 1:50 PM

Germanstar:
I recently sold my house in Michigan and now looking in Chicago Suburbs (recently moved here) and I get a sticker shock whenever I compare house prices between Detroit Suburbs and Chicago Suburbs.

Well, I'm sure you can do better than that in Carol Stream, Elmhurst, Wauconda, Libertyville, etc, than you will in Mortage Grove, Dark Ridge, or Skokie. You can also look south, like Oak Lawn, where you'll find more affordable prices...

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post #14 of 37 (permalink) Old 11-10-2005, 04:03 PM
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RE: (Rated R): The Fed's housing aim

Rated R will do nothing to keep me out. I'm allowed to watch Rated R movies.

Buy a house in Iowa or something. My aunt is moving there from California. You can get a 5,000 sq. ft house for about $300,000. With the money your making after selling your current house, you may be able to pay off the mortgage.

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post #15 of 37 (permalink) Old 11-10-2005, 04:49 PM
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RE: (Rated R): The Fed's housing aim

Quote:
GermanStar - 11/10/2005 4:54 PM

Quote:
firstmb - 11/10/2005 1:50 PM

Germanstar:
I recently sold my house in Michigan and now looking in Chicago Suburbs (recently moved here) and I get a sticker shock whenever I compare house prices between Detroit Suburbs and Chicago Suburbs.

Well, I'm sure you can do better than that in Carol Stream, Elmhurst, Wauconda, Libertyville, etc, than you will in Mortage Grove, Dark Ridge, or Skokie. You can also look south, like Oak Lawn, where you'll find more affordable prices...
Dark Ridge,lol. How dare you sir! Still a hub of progressive liberals with way too much new affluence (I'm the neighborhood hillbillie). Soon to be aptly renamed New Dehli West I suspect.
To keep you abreast of things,
Rolling Meadows is now known as Rolling Ghetto's
and Skokie now goes by the name of Scompton.
Incidently, with regard to property prices here, Houses mean very little, 3 year old homes are considered tear-downs and anyone with a couple of neurons bouncing around in their skull sells by owner. There is no such thing as a house going for the asking price. You set your already insane price and the bidding war becomes a bloody battle. Builders already know what their client will pay so they take no risk in paying 500k for a house that will be torn down a day after closing. Crazy!

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post #16 of 37 (permalink) Old 11-10-2005, 05:16 PM
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RE: (Rated R): The Fed's housing aim

BTW, the best pizza place in the world, bar none, used to be in Park Ridge. See if Perry's Pizza is still around. They had a second location on Oakton in Des Plaines, but the Park Ridge one was better. The Beer Pizza and Barbecue Pizza were as good as any food I've ever eaten in my life.

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post #17 of 37 (permalink) Old 11-10-2005, 05:17 PM
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RE: (Rated R): The Fed's housing aim

Scompton? [?]

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
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post #18 of 37 (permalink) Old 11-10-2005, 05:24 PM Thread Starter
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RE: (Rated R): The Fed's housing aim

I am targeting Vernon Hills, Arlington Hts, Buffalo Grove and the prices are insane..

Just hoping the APR goes upto 7-8% very soon and the houses financed through Interest Only mortgages, 3-5 Year ARMs will start defaulting, thus pushing down the prices...

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post #19 of 37 (permalink) Old 11-10-2005, 05:29 PM
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RE: (Rated R): The Fed's housing aim

You're targeting the high rent district, brother -- that's for sure. Take a peek around Elk Grove Village just for grins...

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post #20 of 37 (permalink) Old 11-10-2005, 05:35 PM
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RE: (Rated R): The Fed's housing aim

Quote:
firstmb - 11/10/2005 7:24 PM

I am targeting Vernon Hills, Arlington Hts, Buffalo Grove and the prices are insane..

Just hoping the APR goes upto 7-8% very soon and the houses financed through Interest Only mortgages, 3-5 Year ARMs will start defaulting, thus pushing down the prices...
Are you just looking at houses in Chicagoland? There are some nice houses about a couple blocks away for sale. There is a place called Summerset. Really nice houses, big, and about where all the really rich people live. About 8,000 sq. ft, theater room, pool, sound system throughout the house including the outside, game room, 6 stall garage, 2 acres land, all for about $700,000. Yeah our real estate is cheap. I know these houses could easily sell for about $5 million and up in New York, LA, Chicago. There are some other nice houses about 20 miles away.

Are my comments mature enough?

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