GrizzlyRider

Is the housing crisis affecting your area?

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Just curious how this national housing crisis we all hear about affects different areas of teh country.

I know houses are down, does anyone have specific examples how it affects your area or you and your family?

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Just curious how this national housing crisis we all hear about affects different areas of teh country.

I know houses are down, does anyone have specific examples how it affects your area or you and your family?

Just a ton of forclosers sittnig around. Auto industry taking a dive done most of the damage around here. My neck of the woods is pretty much automative. Now mostly Fab shops , bars and that [email protected]$%&*[email protected]#$ Wal-mart.

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I build single family residential house and also have my brokers license and to put it into an example so you could understand if you are not effeected by it...

what ever your income is cut it by 1/2 to 2/3's and you will have an idea of how it effects those of us who are in housing construction. In some cases even much worse, Just about all of Sourthern Cali, Vages and Sarasota Florida have been hit the hardest with sale and prices dropping fast and foreclosure rates in those areas of unheard numbers. Than add into it the amount of houses in the construction phase and developments started before the crunch where property was bought at a premium and there are many builders gone belly up and lost everything of which i know 2 personally. Now along with the builders you have all the trades involved in building, excavating, concrete, framing, sheetrock, paint, roofing and siding and the list goes on. Now they have lost there bread and butter too.

Some houses are moving and February saw a 2.9% increase over January although 23% below Same time last year.

So the easy way to up it is if you make $100,000... try living on 40 or 50K now.. lol

That should give you an idea of how it has hit some people in the industry...

Chris

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forgot another way

look at the big builders and there profits for the last 2 to 3 years

HOV: Basic Chart for HOVNANIAN ENT INC - Yahoo! Finance

TOL: Basic Chart for TOLL BROTHERS INC - Yahoo! Finance

PHM: Basic Chart for PULTE HOMES, INC. - Yahoo! Finance

thats just 3 of the larger ones

Chris

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