It is true that many new homes are not meant to last and are cheaply made, as I said in the above post. However, your constant attempt to tie the government or Bush to everything bad is tiresome. How about blaming the home builders, and many of these home builders are not illegals and the large companies which made the enormous money from these shitty homes (you are from around Indy, so an example in yoru area would be CP Morgan Homes) certainly aren't illegals. The government didn't have much to do with companies like CP Morgan making huge profits off of cheap houses sold to people who don't have a clue about home construction. To say that new homes are part of a plan by the government to give jobs to illegals just shows how out of touch you are. You obviously don't know very little about the housing market, perhaps you one of those who were duped into getting one of these shitty homes. If so, blame the home builder and then look in the mirror and blame yourself . . . either way, it wasn't the government that forced you or anyone else to build or buy a shitty house which has already gone down in value.

Come on Gix, before you post one-sided crap like this at least have the conservative integrity to post a link to the viewers here at AWE, the full scope and truth about the overall health of the housing market!

Check this link out: http://realestatedecline.com/#Why%20...0Was%20Created

Remember Gix, I'm always there for you whenever you get the BUSH URGE to blantantly lie to your fellow AWE collegues just for the sake of justifying your make believe economic-investment world out look!

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AMERICA LAND OF THE FREE HOME OF THE BRAVE--BECAUSE OF OUR CONSTITUTION.

How many of the houses that are being sold in this surge of home buying are on the market because they have been foreclosed on?

>>>An entire shitload. Subdivision developers are re-casting their loans like mad. I wish the lenders would do the same for me, but I don't have a lobby and I don't own any congressmen.

I am lucky. I inherited a house in a 'poor' part of town that was recently named a National Historic District. People are renovating these houses that were built back in the early 1900's and, by the time I get ready to sell, the value of this home will have doubled without me ever sinking more than a few grand into it.

Interesting how new home sales are reported to be soaring as the rate of loan defaults on said homes is increasing. Do ya think there's any correlation? D'oh!

Let me guess: The value goes up only as long as the government is willing to pour money into the neighborhood and only as long as the neighborhood thugs don't burn it down.

We have a neighborhood like that here. It is supposed to be historic, but the most historic thing about is the oldest profession.

The bulk of my business is directly related to the real estate industry and I have so much work I am having to subcontract some of it. Here's the picture in the Houston area: Lots of young couples are making so much money that they are buying houses as investments. They'll either move into it and rent out the one the have or buy two and let the rent from one pay the mortgage on both. Rental rates have skyrocketed so they're realizing profits on their investments right away. Also remodeling older homes is a big industry here, very, very big. Now they are "gentrifying" Galveston Island. Gay guys are moving to the island in droves and remodeling whole streets. What were slums are now looking quite beauftiful.

It's all good here, Rasta, but, of course, it's Bush's adopted home state so I am sure we get all the benefits of that. The Bush Crime Family takes care of its own. Gathered an "ilk" yet?

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Most of the world's crises can be tracked back to the fact that WE HAVE TOO MANY LAWYERS.
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Without women, money would have no meaning......Aristotle Onassis.

Foreclosures are up 90% from last may. Could be some real steals out there.

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In a perfect world we would all be progressive liberals.

Not really. If you buy a house that is in foreclosure you are still liable for the mortgage because (if legally possible) no mortgage company will let a house be auctioned without setting the minimum bid at whatever is left on the existing mortgage. So anyone who buys a foreclosed house will be buying a house that is just as overpriced as it was when the existing mortgage holder bought it. The housing market that began in the late 1990s was a bubble- houses were priced at far more than they were really worth because people had money to spend and little else to spend it own once the dotcom bubble was burst.