Foreclosure troubles hitting close to home

NDizona · Post by **NDizona** » Mon Feb 25, 2008 10:52 am

http://www.omaha.com/index.php?u_page=1 ... d=10267250

"In the last two years there's been a much wider range in the housing values of foreclosed properties," said Thompson, of the Realty Center, which has offices in Lincoln, Omaha and Grand Island.

Thompson said he has sold homes costing as much as $750,000.

"I've never seen that range in the past, and I've been in this business since 1989."

joeglow · Post by **joeglow** » Mon Feb 25, 2008 11:09 am

NDizona wrote:http://www.omaha.com/index.php?u_page=1 ... d=10267250

"In the last two years there's been a much wider range in the housing values of foreclosed properties," said Thompson, of the Realty Center, which has offices in Lincoln, Omaha and Grand Island.

Thompson said he has sold homes costing as much as $750,000.

"I've never seen that range in the past, and I've been in this business since 1989."

And THIS is why I have a problem bailing out buyers. I will show empathy for the people who bought a $100,000 house in Omaha and truly could not afford any other house. I have ZERO empathy for idiots who could afford a nice house, but over-extended themselves to get a nicer house just to keep up with the Jone’s. Plus, since I have been responsible, home prices SHOULD come down as I should not be punished for being responsible by having to pay over-inflated home prices when I decide to trade up.

NDizona · Post by **NDizona** » Mon Feb 25, 2008 12:48 pm

Home prices will likely continue to sag behind last years numbers for at least another year.

Our housing market is in real trouble...the last thing we should do is bail out anyone.

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