Dear housing / banking market,
FARK YOU!

\bought a house in 2005
\\Tax valuation is now $110,000 less

Did it ever?

What's the materials/labor cost to build a house? Can't be much different than it has been for the past 30 years, especially since a gang of framers can put together your average tract house in a single day now. The framing comes prefab, not too much skill involved. Master carpenters not necessary. A plumber and an electrician plus a helper each. Some sheet rockers. Paint. If anything, it's cheaper to build a house now that it ever has been, but the prices are magnitudes higher than when they were hand made out of hand-fitted durable materials, oak woodwork, slate roofs, etc.

/Bubbles, how do they work?

HotIgneous Intruder: What's the materials/labor cost to build a house? Can't be much different than it has been for the past 30 years,

The cost of concrete, wood, copper, and sheet rock have increased substantially over the last 30 years, even accounting for inflation.

FTFA: "It's a fear factor sale," Kelly, a bank branch manager, said in a telephone interview. "From the insurance industry's standpoint, now would be the best time because home prices have nowhere to go but up. But from the buyer's point of view, I don't think you'd use it."

Now where on earth have I heard that before?

eKonk: FTFA: "It's a fear factor sale," Kelly, a bank branch manager, said in a telephone interview. "From the insurance industry's standpoint, now would be the best time because home prices have nowhere to go but up. But from the buyer's point of view, I don't think you'd use it."

Now where on earth have I heard that before?

Hey, Stan Humphries said so. Are you doubting the only man to ever take San Diego to a Super Bowl?

Kidding aside, this is the property version of Accidental Death and Dismemberment policies (that aren't free through your employer). Only suckers have them. My question is how did they get their contract and set ups approved? I know Ohio has tons of insurers domiciled there but this deal sounds bad actuarily and legally for all parties.

Hard to say if housing prices have reached the bottom or not, but there's no reason to believe they won't go lower.

Excuse me guys, I have to go buy a house.