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- offrdbandit, on 05/27/2009, -0/+30There is no South Dakota. South Dakota is a lie propagated by the elite media to keep you distracted from the REAL threat - North Dakota.
- chanop, on 05/27/2009, -1/+24I'm closing on my first home exactly 2 hours from now. Wish me luck!
- mattnyc99, on 05/27/2009, -0/+15interesting that sales are on the uptick. i've only been looking at rentals -- and is it just me, or have prices been going up again?
- TheMachine1, on 05/27/2009, -0/+12You claim to be enlightening us dumb digg masses with the truth but why gloss over the fact you are on the payroll of West Dakota?
- wicketr, on 05/27/2009, -0/+10Of the 5 homes in South Dakota, none of them were bought/sold.
- chanop, on 05/27/2009, -0/+8Yup, foreclosure that for no explainable reason they took a really low-ball offer. We knew the people that lived there before (they sold it to city people who never moved in and foreclosed) so we know the home is in good shape and no surprises. It's appraised at 3X more than what I'm paying...home equity.....hookers and coke!...oh, I mean raise a family
- mwalker05, on 05/27/2009, -2/+10so do the colors represent a decrease in number of homes sold? or is it the decrease in price of homes sold? also largest change in median sale price is probably one of the least meaningful figures they could have given us.
edit: ok so after reading through their giant block paragraph it is total number. but why couldnt they just say that on the graph - Shawn4168, on 05/27/2009, -1/+8Moving from Michigan to ANYWHERE is an improvement, regardless of what a chart might tell you.
- brad3378, on 05/27/2009, -0/+5Don't forget to claim your $8000 tax credit if you're a first time home owner.
- mech887, on 05/27/2009, -2/+7this map is misleading and inaccurate.
- Amaron, on 05/27/2009, -1/+6Just a crappy graphic. There is a disconnect between the color codes and the balloon data. Also red arrows up and blue down? - red is usually associated with down.
Very visually tedious to decipher. As I recall the primary function of presenting information graphically is to make it easy to see and understand what the author is trying to show. And to help make visual associations between related data.
This essentially did the opposite. - NakedJedi, on 05/27/2009, -1/+5I live in a green state
- thefourcast, on 05/27/2009, -0/+4Just moved from Michigan to California, from medium green to dark green. Oh well. Cool article!
- foohookups311, on 05/27/2009, -0/+4unemployment is a lagging indicator. We should see housing prices increase before we see any positive changes in unemployment.
- Balanced, on 05/27/2009, -0/+4They have been creeping up.
- inactive, on 05/27/2009, -0/+4When average price hits 2.5*gross income then we're back to normal.
- chanop, on 05/27/2009, -0/+4It's 10% of what you paid for up to $8,000. I'll be getting around $6,700 from that credit and more credits from the new eco-friendly add-ons I'll be using.
- LoudMusic, on 05/27/2009, -0/+4You picked a good time. Did you score a deal?
- karnblack, on 05/27/2009, -1/+4Good luck! I'm closing on my first home next week.
Apparently banks are holding homes to create an artificial demand around my area. Fortunately I got a house that wasn't bank owned nor foreclosed. - clickwir, on 05/27/2009, -0/+3Dear Mint.com
I don't like that 'animation and picture overlay' thing you have going on there.
So here's a direct link to the actual content. http://www.mint.com/blog/wp-content/uploads/2009/0 ... - in2thel2ain, on 05/27/2009, -0/+3I live around SF, and I certainly haven't been seeing a 42% decrease in house prices since last year...there's def a drop, but not 42%
- greeniemeani, on 05/27/2009, -0/+3I am tired of older people constantly telling me to buy a house, and then trying to defend it by saying it's an investment. Sure, so in 30 years when something like this happens again and I am ready to retire, my house will be worth a lot less than I owe, I won't be able to move because I can't sell it, and my 401k will have lost half of its money. These older people sure do give sound financial advice....
- pappyblueribs, on 05/27/2009, -0/+3Buying when things are cheap...hmmm, interesting...
(All kidding aside, congrats!) - jeffwmartin, on 05/27/2009, -0/+3God damn, houses are expensive in CA.
- duewydo, on 05/27/2009, -0/+3There are some good deals out there and awesome interest rates.
- rand21althor, on 05/27/2009, -0/+3That's odd; how come there's no data available for South Dakota?
- AquaOSX, on 05/27/2009, -0/+3God damn, houses are cheep outside of CA.
- Hu99, on 05/27/2009, -1/+3The infographic is pretty lame but click on the link at the bottom for "modern day ghost towns" for a very interesting article on some specific horror stories.
- tenth8sphere, on 05/27/2009, -0/+2Great time to buy a house. If only I could find a job. Thankfully the bad employment market means its a great time to buy a house... if only I could find a job....
Crap. - thefourcast, on 05/27/2009, -1/+3Rent goes up when houses going down since no one wants to buy a house, therefore demand on renting goes through the roof and renters can charge what they like.
- PurpleTentacle, on 05/27/2009, -3/+5Map is misleading. The truth is that the sub-prime wave of homes is over which emphasized lower priced homes. Now we are entering into the Alt-A wave of homes which is emphasized in more moderate to higher priced homes. Therefore, the median price of homes goes up, because there are more expensive houses (aka, better areas, larger houses) then less expensive houses (aka worse areas, smaller houses). Home prices are still falling. This is all just the appearance of a recovery without an actual recovery.
- NJank, on 05/27/2009, -0/+2interesting that the NASDAQ index is up 70 points since this week's opening. I've only been investing in bonds -- and is it just me, or have prices been going up again.
http://en.wikipedia.org/wiki/Market_trend#Secondar ... - yacks, on 05/27/2009, -0/+2California is dark green and yet houses are still way overpriced..
- mobislink, on 05/27/2009, -1/+3 As the unemployment rate continues to increase and the 3rd wave of foreclosures start to hit the market home prices will continue to deteriorate.
- ThaDRD, on 05/27/2009, -0/+2I sort of agree with you. Everybody (parents, friends) was telling me to buy two years ago at the peak, saying things like "it will never get any cheaper." I had a feeling the bubble would have to burst but I bought anyway. I could only afford a condo and I now owe way more than it's worth. Houses are now priced at what my small ass condo was when I bought it. FML
- pappyblueribs, on 05/27/2009, -0/+2I'm not sure having it at the state level is useful to anyone. It makes for pretty maps, but I don't care what the situation is 500 miles from me, or 50 miles from me.
To be useful to buyers/sellers, it needs to be at the zip code level. But then it wouldn't be a map, it would be a list. And that's not fun to look at. - kd1s, on 05/27/2009, -0/+2Note the dark green areas. That's where the main real estate bubble occurred. And they're just using data from the past year. And the scale is odd, from negative percentages to 1. Which means it's all down.
If one were to track values over say the last 5 or 6 years in my area you'd see an interesting picture. You'd see some properties that were bought many years ago for $30K to $50K zoom way up to $300K to $400K, get foreclosed, then revert to the sub $30K or so bracket.
It's really interesting. Lots of abandoned, boarded up, copper missing buildings here in Providence. - lusenok2, on 05/28/2009, -0/+2The problem is that renting is significantly cheaper than buying.
I pay $800/month for an apartment. The smallest house on the market is about $1200 a month for 30 years. And that's 80 year old shabby wooden house with almost no yard, 2x utilities charge and 2x commute time. Let's not overlook maintenance cost....
I'd recommend you this calculator:
http://www.nytimes.com/2007/04/10/business/2007_BU ... - ProjectGSX, on 05/27/2009, -2/+4Yeah, I wanted one too.. thats why I left California and moved to Austin.
- TheMachine1, on 05/27/2009, -0/+2That data is excluding teepees and trailer "houses".
- jeffwmartin, on 05/27/2009, -0/+2My thoughts exactly. It took me a minute to figure out what the colors actually meant and which was better/worse.
On the red = up, blue = down thing, I think they were representing red = market heating up, blue = market cooling down. Or maybe they just randomly picked some colors. - EricAnderton, on 05/27/2009, -1/+3The other way to look at this is: what are you paying for with your rent?
Even if you don't speculate by purchasing a home to live in, you still lose *all* that you paid on rent. So it's either lose 100% of the time by renting, or potentially come out having made money in 30 years at considerably better odds than zero. - fishwww, on 05/27/2009, -0/+1We are a little insulated from the carnage of other markets as we have many thriving business sectors still paying wages to folks here in West Los Angeles but in nearby communities the properties have taken a beating. This map is helpful to show the nature of the national real estate downturn. I post about it on "La La Land and the Real Estate game" blog at http://la-real-estate.blogspot.com/
Nearby areas with serious real estate problems prove that real estate is Local. You need Local knowledge. Real professionals who can be your local ear to the ground. Those buying out of state for $$$ all cash on good "Deals" have me worried that they are not getting shoddy product that no one will rent. - duewydo, on 05/27/2009, -0/+1In some places, not all. The market is stabilizing.
- abayden, on 06/24/2009, -0/+1People who predicted the real estate bubble collapse say we have not bottomed out yet. See http://expertswhopredictedthecrisis.com .
- rentalsestate, on 09/01/2009, -0/+1Thanks for the updated information.
We welcome your feedback on this web-site and encourage you to email me.
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Wishing you Happiness, Health, Success & Wealth
http://larryrtaylor.com/ - jmritchie, on 11/10/2009, -0/+1Housing prices are down 42% in some areas, total home sales are up 80% in California. Read before commenting.
- yacks, on 05/27/2009, -0/+1plus real estate in Cali is still overpriced... these $400,000 houses are small with a even smaller yard..
- bobboberton, on 05/27/2009, -0/+1"down in some areas" - exactly. Some areas. Overall, it's 0+%. California's a big state.
- seanstuart, on 05/27/2009, -0/+1Wow - Fort Meyers, FL. I'd have hated to have bought a home there last year. Could that be right? 213K down to 87K? Damn.
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