2008 housing crisis - Main Street recovered? (2 Viewers)

[IC FBGCav]

You tell me.

 

[Kal El]

I bought a house in 2010 at $71k, currently valued at almost $200k. Not a ton of "for sale" signs in my neighborhood at the moment, but I'm not sure if it's a full recovery or just another bubble.

 

[IC FBGCav]

I bought a house in 2010 at $71k, currently valued at almost $200k. Not a ton of "for sale" signs in my neighborhood at the moment, but I'm not sure if it's a full recovery or just another bubble.

It's not bubble for u but for who sold.

 

[Kal El]

It's not bubble for u but for who sold.

It was a foreclosure at the time. Guy bought it in '05 for $175k, tried flipping it, got maybe 15% through it and got foreclosed on.

 

[IC FBGCav]

It was a foreclosure at the time. Guy bought it in '05 for $175k, tried flipping it, got maybe 15% through it and got foreclosed on.

It is what it is, don't know if he had a NINJA or not but I know this much, the bank got taken care of, not him.

 

[IC FBGCav]

The facts are they haven't 

 

[Zegras11]

For the most part, yes.  Many that lost their homes have been able to buy again the last three years because they have recovered.   It's one of many segments of the market that has made the housing shortage worse.

 

[TripItUp]

Is home ownership or home equity the barometer we should be using?