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Name:	MartiniMan -	Reply
Subject:	Home sales at lowest level in 15 years
Date:	8/24/2010 2:39:06 PM

More bad news for the OCarter administration. I have not seen this much pessimism infiltrating all aspects of our country since Carter. Hopeless and change for the worse.........

What is really daunting for the Messiah is he really only has 12 months to have a dramatic turnaround in order to save him from Carter's fate?

Name:	Talullahhound -	Reply
Subject:	Home sales at lowest level in 15 years
Date:	8/24/2010 5:09:51 PM

Caught this briefly on the news this morning while I was waiting for an appointment. Seems there are new waves of foreclosures flooding the markets. We have been trying to sell my MIL's house down on Ono Island at the beach. When we listed it for sale back in March, we were told that the market was expected to drop 30% this year. Then the oil crisis hit. Now this. Assuming nothing else happens, they expect the market to stabilize during 2011 and rise slowly in 2012. In the meantime, the house is empty and we can't even rent it. If we get hit with a hurricane this season, I'm not sure what will happen.

Name:	water_watcher -	Reply
Subject:	Home sales at lowest level in 15 years
Date:	8/24/2010 7:40:03 PM

Very depressing that even with record low interest rates people just are too afraid to buy. I wonder where all that "hope" has gone? I'd take those horrible Bush years with 5% unemployment any day. He did not blame Clinton for the tech bubble that burst and put us in a very bad recession. He did not blame clinton when 9/11 hit .... he handled the situation as a leader and put the right policies in place to get things moving again.

Name:	lotowner -	Reply
Subject:	Home sales at lowest level in 15 years
Date:	8/24/2010 8:13:42 PM

My neighbor on the lake recently sold his condo in GSs for 1/3 of the value.

Name:	Dixie Drifter -	Reply
Subject:	Home sales at lowest level in 15 years
Date:	8/24/2010 10:43:25 PM

It's not going to get better anytime soon. The lending industry has instituted very stiff requirements which lock out the majority of potential home buyer's from qualification for a mortgage loan. Getting a loan for a second/vacation home is next to impossible. High down payments, higher interest rates, mandated flood insurance (Smith Lake) and endless documentation requirements discourage most from following through with a loan application. Until the powers in Washington get their head out of the sand, nothing of significance will change. Here's waiting on November.

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