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Originally Posted by Robbie
I thought the stock market has been tumbling down horribly for the last couple of weeks?
Also...the housing market may be another bubble according to some of the reports I've seen on financial shows on cable.
It might be completely artificial because of the Fed keeping interest rates so low.
I hope the hell I'm wrong about that. My home cost me $720,000 in 2008. And a month later it dropped to $480,000 when the crash hit.
It's just now up to $515,000 after 7 years of Obama's "recovery".
I hope the housing market will continue to climb. But it's FAR from being "back up". Very far.
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Stock markets go up and down. A period of a couple weeks is pointless to even mention.
It is entirely possible we may see another housing bubble, but for completely different reasons. However, that doesn't mean that the national average of home values has not risen.
Consider yourself fortunate. You could have lost a whole lot more if you had purchased that same home a year and a half earlier.
I don't know what the local circumstances are in your area, but market values for housing are different region by region. Personally I never lost any money on my home. Just before the bubble, my home was worth almost double of what I paid. At the lowest point, it was worth the same of what I paid, and today it is valued 35% more then what I paid.
As far as the economy goes, we could be in worse shape than what we are now.