Never owned a home? You can own a home in Detroit for $6300

[TeePee4Prez]

Is the program such where you would then receive a $1,000 credit from the government to purchase the requisite firearms, ammo and shoe polish needed to survive in such a place?

Ironically, I live in a neighborhood where housing values are increasing. 

From what to what - honest question...

FYI, the Philly area never had the same amount of bubble as other places did.

It's below the median.  I think the average is about $40 K, but I don't know the start.  We're also seeing home construction/renovation.

Funny, your neighborhood is doing quite well from Temple's expansion.  Great area for investment purposes.  Meanwhile Northeast Philly and South Jersey are starting to lose value in some parts 15% or greater.  University expansion/gentrification has done wonders for some historically bad neighborhoods here.

To Sam Spade.  You're partially right.  Some places double or tripled since 2000 and those areas are starting to come down.  Philly and NYC have too many submarkets to give a broad generalization of the market as a whole.     

[TeePee4Prez]

To Sam Spade.  You're partially right.  Some places double or tripled since 2000 and those areas are starting to come down.  Philly and NYC have too many submarkets to give a broad generalization of the market as a whole.     

Of course.  My point was more general.  In that Philly prices never moved as much as the DC market or NYC market.  Of course, they started off lower anyways.

Local realtors annoy the crap out of me when they talk like that-  "Oh, we're not one of those areas" yet I'm seeing people locally if they sold today they'd lose money.  Granted, we didn't go up as much as Phoenix, DC, or Miami, but we sure as hell went up to unaffordable levels and certainly increased more than a lot of the Midwest and South.  Education and health care is keeping our economy somewhat stable, but in a few areas I'm seeing some overvaluation.   

[TeePee4Prez]

To Sam Spade.  You're partially right.  Some places double or tripled since 2000 and those areas are starting to come down.  Philly and NYC have too many submarkets to give a broad generalization of the market as a whole.     

Of course.  My point was more general.  In that Philly prices never moved as much as the DC market or NYC market.  Of course, they started off lower anyways.

Local realtors annoy the crap out of me when they talk like that-  "Oh, we're not one of those areas" yet I'm seeing people locally if they sold today they'd lose money.  Granted, we didn't go up as much as Phoenix, DC, or Miami, but we sure as hell went up to unaffordable levels and certainly increased more than a lot of the Midwest and South.  Education and health care is keeping our economy somewhat stable, but in a few areas I'm seeing some overvaluation.   

I didn't mean it in "that way", but you have a fair enough point.

I was making a generalization about local realtors.  Some are outright delusional and try to cover things up and think nothing of the buyer looking to sink money on a place that won't be worth it in 6 months.  Lavinia Smerconish (IIRC, she's Michael's wife) is one of the worst of who I'm talking about.  One thing with the Philadelphia market is it tends to follow the national trends 1-2 years after the fallout.  Some of the worst parts of the country were in denial 2 years ago.  Then it became acceptance, now anger.  Philadelphia is at the end of the denial stage, beginning to enter the acceptance stage.  The same thing happened in the 80s fallout and in the current rise.  We really didn't join in until 2003-2004.

[TeePee4Prez]

I oppose the mortgage bill. Bay area houses are still massively overvalued.

I even thought we were bad, but DAMN you guys still seem bad.  Is the economy good in the Bay Area?  Tech strong?  It looks like tight supply because there isn't much room between the mountains and the sea.  Granted, it also seems like the prices spiraled astronomically because of the fancy mortgages that will soon reset in the Bay Area.  We didn't have that in the Philadelphia area much at all BUT there may eventually be an excess supply problem plus NYC specualtors aren't driving up prices anymore.