Family net worth plummets nearly 40% on the Peoria.com Forums - Page 2

As a realtor, didn't you think the houses you were selling in 2007 and 2008 were grossly overpriced?

A robust economy would be a good start. Low unemployment, fiscal responsibility in our state, local and national government (translates to consumer confidence). Basically the same good fiscal management that keeps you financially solvent.

Another big problem with foreclosures is that some homeowners trash the properties prior to vacating them and strip them of such things as air/conditioners, furnaces, doors, fixtures, etc. They leave the water on or the furnace blasting, for instance. By the time the bank gets posession they are in essence destroyed. Then they get picked up by Fannie Mae, are sold for pennies on the dollar and you and I end up picking up the tab. People should face criminal prosecution for these acts. I've heard this is particularly bad in Florida right now.

Agreed.

Who did that?

Yes. Gold is grossly overpriced and experiencing a bubble similar to the housing bubble. Precious metals always inflate during a recession. Anyone who buys gold right now is a complete moron. I feel sorry for all the Glen Beck listeners who fall for his buy gold advertising... suckers...

I've sold a bunch of gold in the last few months. Broken jewelry that I've had laying around intending to get fixed someday... I sold a broken bracelet, a few single earrings (where I lost one), and an old necklace that was a gift from an ex-boyfriend that I never wear - I got over a thousand dollars for the collection of gold junk.

I did that too...I couldn't believe how much it was worth. Guns, gold, and God are all we have

Stroke my cheek with one hand and smack it with the other! Wonder which Joepy will show up next.

Realtor is a brand name, and is therefore capitalized. And disecting your attributions above, I will pay $1000 to anyone who can bring forth a buyer that says they were at the closing table under duress or threat of life. "Caused by over-zealous mortgage market" - I have no idea what you mean by that other than lenders being required to make loans to people who couldn't afford them and finally, regarding "extremely low interest rates" - odd, given that the interest rates today are about 35% lower than when the crisis started. People that I know that work day in and day out in the real estate industry pretty much guffaw at these generic allegations.

I recently read 50 Shades of Grey...apparently some people really like that kind of thing.

Deflection....

No they were under the guise of being fed a bunch of BS about how they CAN afford to live in a house that they couldn't really afford because hey had a really great credit score (and a bad Debt To Income Ratio) or were such great budgeters (because they had a low DTI abut an equally low credit score) by greedy, commission driven realtors who had financial managers that knew which banks would buy these junk loans.