Home ownership will remain out of reach for millions of Americans, despite slumping house prices

[Scott & Lai 12]

I am lucky to be above the median for CA and live in the Illinois sticks. The average price for a 3br 2ba house in a good neighborhood is about $150K here. Next year I plan to buy or build a home.

Is there a way I could buy a house in Illinois, and then have it moved here?

[brtlmj 0]

In my part of CA house prices fell by 13% during the last 9 months. Another year or two, and we'll be buying

[JelloShotGirl 0]

yeah i am gonna buy a piece of junk house here on Long Island for $400,000.00 and have 4 jobs between my husband and I ..............................lol..............we talk about going back to the Philippines, maybe I should just forget about the AOS and go back there !LOL!!!!!!!!

[Jamie76 0]

yeah i am gonna buy a piece of junk house here on Long Island for $400,000.00 and have 4 jobs between my husband and I ..............................lol..............we talk about going back to the Philippines, maybe I should just forget about the AOS and go back there !LOL!!!!!!!!

Not such a bad idea. I hope to retire in Thailand where the cost of living is so much lower. Of course that is many years off so who knows what will happen between now and then. Still...you can have a nice home built in northern Thailand for less than $30K

[AnaAndDaniel 0]

i do hope all ppl who want to own a home find a way to do so. i bought our house back in 02. even if prices do tumble back to those prices we are still ahead of the game. California is awesome, if you can afford it.

Daniel

:energetic:

[msu17 0]

Its so weird to hear about a high housing market out west. My area is under a HUGE housing slump. There are so many homes up for sale selling WAY under value. Too bad I'm not ready to buy yet

[Mr. Big Dog 10,747]

There are so many homes up for sale selling WAY under value.

Under value? How's that? Maybe homes sold way above actual value before. Now that the market is undergoing a much needed correction, the actual values might just shine through.

Take a look at my neighborhood, for example: Our neighbors (both of them) bought their homes about 8 months before we bought ours and paid between 40K and 60K more for their homes than we paid for ours. The homes are essentially the same. Another house with same specs down the road sold not too long ago for what we paid for ours - and it sold in a couple of days. There are other homes up for sale at the price range my neighbors paid and those ain't selling - heck, we looked at some of those over half a year ago and they are still up for sale at those higher prices. That would suggest that rather than us buying under value, my neighbors paid inflated prices and those homes that just sit on the market forever are priced above value.

[w¡n9Nµ7 §£@¥€r 123]

median sale price in my town is down about 20% since mid-2006. no worries non iBanking regular people, that home will soon be within your grasp!