Tuesday, February 10, 2009
Housing price decline?!
I don't get it. If you look at homes for sale in East High Acres 3 in Unity Township (of which there are like 5 or 6 for sale), a house that went for around $330,000 in 2004 is being listed at $449,000. I don't get it. Are we not being affected in this area? Do the math. That is no decline. So I keep hearing about the dreadful decline in home prices, the tight credit market and the worse economy ever, but these homes are still being listed at a premium to what they were just a few short years ago. Of course, they are all still for sale too.
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Housing prices aren't going to decline in SWPA because there was no bubble to begin with. Without the bubble, there is nothing to burst and cause the price decline. This is another reason why the area has a lower unemployment rate compared to the rest of the country.
You think going from around $330,000 to $449,000 isn't bubbly?
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