Uh oh! Housing Bubble Newz
- Thread starter N8 v2.0
- Start date
justsomeguy said:
Heh!
That was an effort based upon what pops into my mind when I see those pictures:Ciaran said:
http://gamefiles.blueyonder.co.uk/blueyondergames/trailers/ROFL.STARWARS.NERDS.wmv
justsomeguy said:
Yep! I caught the reference....
NERDS!!!!!
Ciaran said:
Riiiiiiiiiiiiiiiiiiiiiiiight....
aren't you a little old to be having your parents send you to D&D camp?
you've gotta be like a level 12 wizard by now right
Ciaran said:Pants, trousers... same thing...
I'm the short one (of course)... see the pants?
I have see the houses you build N8. I wouldn't exactly call them castles. Now the homes that these folks build are castles... www.castlemagic.com
And before you attempt to make fun of them check out the construction of the buildings. Very cool from my non-construction lay persons point of view.
If you can build something like that I might hire you.
And before you attempt to make fun of them check out the construction of the buildings. Very cool from my non-construction lay persons point of view.
If you can build something like that I might hire you.
All you have to do is dress up as the gimp and hang in the dungon eh?
I'm a huge fan of the craftsman style myself, but not the headaches that come with an old house.........I think we're going to build a new one that "looks" old (craftsman style that is).skatetokil said:
wow that is suprisingly cheap for a castleCiaran said:
Andyman_1970 said:
That's the better idea. It would be energy efficient and have the modern stuff people want these days.
The craftsman style is not one of my personal favorites.
firetoole said:
It's pretty small... and on only 1/2 an acre.
Price $2,250,000
SPECS:
Castle Keep Size ~ 3600 square feet - Oh yeah, that's tiny. And that's just the keep. Doesn't count the towers and all that other stuff.
Land Size ~ half acre You'd think that they would have built it on a larger parcel of land.
Wall thickness ~ two feet - N8, are YOUR walls two feet thick?We already know that your head is
Stone Tonnage ~ 216.5 tons
Number of Stones ~ >40,000
Elevation ~ 5,000 feet
Under construction: Great Hall w/ tower ~ 1600 square feet - That brings it to 5200 square feet so far
Garage ~ 800 sq ft
Additional land also available - So you CAN get it with more than a half acre!
Basic medieval castles, $154 to $274 per square foot.
Elaborate medieval castles, $300 to $600 per square foot.
N8, what does a regular house cost per square foot? I am guessing that it's alot less, right?
SPECS:
Castle Keep Size ~ 3600 square feet - Oh yeah, that's tiny. And that's just the keep. Doesn't count the towers and all that other stuff.
Land Size ~ half acre You'd think that they would have built it on a larger parcel of land.
Wall thickness ~ two feet - N8, are YOUR walls two feet thick?We already know that your head is
Stone Tonnage ~ 216.5 tons
Number of Stones ~ >40,000
Elevation ~ 5,000 feet
Under construction: Great Hall w/ tower ~ 1600 square feet - That brings it to 5200 square feet so far
Garage ~ 800 sq ft
Additional land also available - So you CAN get it with more than a half acre!
Basic medieval castles, $154 to $274 per square foot.
Elaborate medieval castles, $300 to $600 per square foot.
N8, what does a regular house cost per square foot? I am guessing that it's alot less, right?
yea but how fun would it be to piss off your neighbors by building a castle on a 1/2 acreN8 said:
It would be even better if it had the draw bridge featurefiretoole said:
You could shoot Nerf arrows at them from the arrow loop!
Gas bill $4650 moCiaran said:Price $2,250,000
SPECS:
Castle Keep Size ~ 3600 square feet - Oh yeah, that's tiny. And that's just the keep. Doesn't count the towers and all that other stuff.
Land Size ~ half acre You'd think that they would have built it on a larger parcel of land.
Wall thickness ~ two feet - N8, are YOUR walls two feet thick?We already know that your head is
Stone Tonnage ~ 216.5 tons
Number of Stones ~ >40,000
Elevation ~ 5,000 feet
Under construction: Great Hall w/ tower ~ 1600 square feet - That brings it to 5200 square feet so far
Garage ~ 800 sq ft
Additional land also available - So you CAN get it with more than a half acre!
Basic medieval castles, $154 to $274 per square foot.
Elaborate medieval castles, $300 to $600 per square foot.
N8, what does a regular house cost per square foot? I am guessing that it's alot less, right?
ya, 5000+sq feet is tiny....
Only in N8s world. hey and guess what, this castle doesn't have ****ty weeping mortar that looks like you hired drunken mexicans to build!
Only in N8s world. hey and guess what, this castle doesn't have ****ty weeping mortar that looks like you hired drunken mexicans to build!
Do you keep them in the dungeon? I guess someone needs to shovel the sh1t outta the moat...Ciaran said:What? Drunken Mexicans? Shoot you can get them for free... just head over to my relatives house.
Housing Slowdown Ripples Through Economy
Mar 06 3:01 PM US/Eastern
DAVID KOENIG
AP Business Writer
DALLAS
The five-year housing boom is indeed over, judging from growing statistical evidence and the performance of some of the nation's leading builders, and the slowdown is already rippling through the economy.
In the last week, the Commerce Department reported that January sales of new single-family homes fell 5 percent _ the fourth decline in seven months _ and the backlog of unsold new homes hit a record. And the National Association of Realtors said used home sales slipped 2.8 percent in January, the fourth straight drop and 5 percent below January 2005.
Builders also reported a few hiccups. Upscale Toll Brothers Inc. said signed contracts in the November-January period fell 21 percent from a year ago, and KB Home reported more buyers backing out of contracts.
Still, the prospect of a housing slowdown appears less frightening than it did a few months ago, according to those who track the industry. There seems to be little concern that a much-touted housing bubble will lead to a collapse in sales and prices.
New Federal Reserve Chairman Ben Bernanke said last month housing would enter a moderate slowdown but not a crash.
William Mack, a housing analyst for Standard & Poor's, predicted "a soft landing. The overall market is just taking a step back."
Explanations for the recent cooling-off vary. Many people bought homes during the past five years and are staying put. Some analysts blame a decline in consumer confidence. And interest rates have been rising, especially for adjustable mortgages that allowed people to buy more expensive homes than they could have afforded with a 30-year loan.
"We started to see the strain in July and August, and by the fourth quarter the market definitely had slowed," said Layne Marceau, president of the Northern California region for Shea Homes, one of the nation's largest private builders.
Rising prices and interest rates pushed more buyers out of the market. When prices finally did cool, sellers couldn't command a high enough price on their old house to buy the new one, said Marceau, who believes the slowdown is temporary.
Builders don't like to cut prices _ it angers customers who paid more _ but last week, Centex Corp. advertised $25,000 off on select homes in the Dallas area after making a successful similar offer in California. Around the country, builders are throwing in incentives ranging from financing help to free upgrades like swimming pools and granite countertops. Some equal 10 percent of the home's list price.
The median price of an existing single-family home has declined since peaking at $219,700 in July to $210,500 in January, according to the National Association of Realtors. Few analysts expect a sharp drop in national averages, although they say there could be further declines in some areas that have been among the hottest markets in recent years.
David Seiders, chief economist for the National Association of Home Builders, said California, Las Vegas, Florida and the Washington, D.C., area "have the largest potential for a price slowdown."
The rising prices in those markets were fed by speculators who bought homes intending to "flip" or sell them for a quick profit, Seiders said. "The biggest fear I have is investor-owned units coming back on the market in large numbers," he said.
Analysts said markets in Florida and the Carolinas seemed to be holding up well. Hovnanian Enterprises Inc. reported last week that home contracts jumped 61 percent in the Southeast but fell nearly 11 percent in the Southwest and 37 percent in the West during the November-January period. The builder's profit was flat with a year earlier.
The slowdown that is showing up in national statistics hasn't reached all parts of the country.
"I've never seen a market as good as this," Mike Mishler said as he took a break from making finishing touches on a $1.6 million lakeside home near Dallas. "Maybe it will slow down in a couple years, but right now we have lots of California folks coming in, and empty-nest people looking for new homes."
Mishler, president of the local builders association, says Texas markets are holding up because they are affordable _ the median price in Dallas is $145,000 compared to the national average of $213,000. But even in Dallas, the inventory of unsold homes rose to a record in the fourth quarter.
By price, the middle and upper ends of the new-home market did best in with solid increases in everything above $200,000, reflecting strongest markets were in high-priced areas along both coasts. That pattern mostly continued in January, although there was a dip in the $400,000 to $750,000 segment compared to January 2005.
Housing has played a major role in the economic recovery since 2001, so even slower growth in home sales and prices could have major repercussions.
Asha Bangalore, an economist for The Northern Trust Co. in Chicago, estimates housing created 43 percent of all new jobs from late 2001 until mid-2005. That included the obvious, such as jobs in construction and mortgage services, but also retail and service jobs that were created because consumers tapped their rising home equity to buy more things.
"The housing slowdown that we are seeing is very modest, not alarming, but I think the ripple effects are going to be enormous because of the employment factor," she said.
For now, home builders are busy finishing the houses that customers ordered last year. In a sense, their 2006 results are already on the books, and they expect another good year.
"This will either be our most profitable or our second-most profitable year in the company's history," Joel Rassman, chief financial officer of Horsham, Penn.-based Toll Brothers, told investors this week. Its profits rose about 50 percent in 2004 and nearly doubled last year.
Investors, however, have been bidding down the stocks of home builders since July, prompting executives to complain that their companies are undervalued despite record earnings. The nine largest publicly traded builders have seen their shares fall 14 to 44 percent since their peaks, with Toll Brothers and Hovnanian the biggest losers.
Alex Barron, an analyst in San Francisco for JMP Securities, said builder stocks have been trading at relatively low multiples of their earnings since the late 1990s because investors always believed the strong housing market was too good to last.
"Investors kept saying, 'Next year housing will go down,'" Barron said. "I guess they're finally right."
Mar 06 3:01 PM US/Eastern
DAVID KOENIG
AP Business Writer
DALLAS
The five-year housing boom is indeed over, judging from growing statistical evidence and the performance of some of the nation's leading builders, and the slowdown is already rippling through the economy.
In the last week, the Commerce Department reported that January sales of new single-family homes fell 5 percent _ the fourth decline in seven months _ and the backlog of unsold new homes hit a record. And the National Association of Realtors said used home sales slipped 2.8 percent in January, the fourth straight drop and 5 percent below January 2005.
Builders also reported a few hiccups. Upscale Toll Brothers Inc. said signed contracts in the November-January period fell 21 percent from a year ago, and KB Home reported more buyers backing out of contracts.
Still, the prospect of a housing slowdown appears less frightening than it did a few months ago, according to those who track the industry. There seems to be little concern that a much-touted housing bubble will lead to a collapse in sales and prices.
New Federal Reserve Chairman Ben Bernanke said last month housing would enter a moderate slowdown but not a crash.
William Mack, a housing analyst for Standard & Poor's, predicted "a soft landing. The overall market is just taking a step back."
Explanations for the recent cooling-off vary. Many people bought homes during the past five years and are staying put. Some analysts blame a decline in consumer confidence. And interest rates have been rising, especially for adjustable mortgages that allowed people to buy more expensive homes than they could have afforded with a 30-year loan.
"We started to see the strain in July and August, and by the fourth quarter the market definitely had slowed," said Layne Marceau, president of the Northern California region for Shea Homes, one of the nation's largest private builders.
Rising prices and interest rates pushed more buyers out of the market. When prices finally did cool, sellers couldn't command a high enough price on their old house to buy the new one, said Marceau, who believes the slowdown is temporary.
Builders don't like to cut prices _ it angers customers who paid more _ but last week, Centex Corp. advertised $25,000 off on select homes in the Dallas area after making a successful similar offer in California. Around the country, builders are throwing in incentives ranging from financing help to free upgrades like swimming pools and granite countertops. Some equal 10 percent of the home's list price.
The median price of an existing single-family home has declined since peaking at $219,700 in July to $210,500 in January, according to the National Association of Realtors. Few analysts expect a sharp drop in national averages, although they say there could be further declines in some areas that have been among the hottest markets in recent years.
David Seiders, chief economist for the National Association of Home Builders, said California, Las Vegas, Florida and the Washington, D.C., area "have the largest potential for a price slowdown."
The rising prices in those markets were fed by speculators who bought homes intending to "flip" or sell them for a quick profit, Seiders said. "The biggest fear I have is investor-owned units coming back on the market in large numbers," he said.
Analysts said markets in Florida and the Carolinas seemed to be holding up well. Hovnanian Enterprises Inc. reported last week that home contracts jumped 61 percent in the Southeast but fell nearly 11 percent in the Southwest and 37 percent in the West during the November-January period. The builder's profit was flat with a year earlier.
The slowdown that is showing up in national statistics hasn't reached all parts of the country.
"I've never seen a market as good as this," Mike Mishler said as he took a break from making finishing touches on a $1.6 million lakeside home near Dallas. "Maybe it will slow down in a couple years, but right now we have lots of California folks coming in, and empty-nest people looking for new homes."
Mishler, president of the local builders association, says Texas markets are holding up because they are affordable _ the median price in Dallas is $145,000 compared to the national average of $213,000. But even in Dallas, the inventory of unsold homes rose to a record in the fourth quarter.
By price, the middle and upper ends of the new-home market did best in with solid increases in everything above $200,000, reflecting strongest markets were in high-priced areas along both coasts. That pattern mostly continued in January, although there was a dip in the $400,000 to $750,000 segment compared to January 2005.
Housing has played a major role in the economic recovery since 2001, so even slower growth in home sales and prices could have major repercussions.
Asha Bangalore, an economist for The Northern Trust Co. in Chicago, estimates housing created 43 percent of all new jobs from late 2001 until mid-2005. That included the obvious, such as jobs in construction and mortgage services, but also retail and service jobs that were created because consumers tapped their rising home equity to buy more things.
"The housing slowdown that we are seeing is very modest, not alarming, but I think the ripple effects are going to be enormous because of the employment factor," she said.
For now, home builders are busy finishing the houses that customers ordered last year. In a sense, their 2006 results are already on the books, and they expect another good year.
"This will either be our most profitable or our second-most profitable year in the company's history," Joel Rassman, chief financial officer of Horsham, Penn.-based Toll Brothers, told investors this week. Its profits rose about 50 percent in 2004 and nearly doubled last year.
Investors, however, have been bidding down the stocks of home builders since July, prompting executives to complain that their companies are undervalued despite record earnings. The nine largest publicly traded builders have seen their shares fall 14 to 44 percent since their peaks, with Toll Brothers and Hovnanian the biggest losers.
Alex Barron, an analyst in San Francisco for JMP Securities, said builder stocks have been trading at relatively low multiples of their earnings since the late 1990s because investors always believed the strong housing market was too good to last.
"Investors kept saying, 'Next year housing will go down,'" Barron said. "I guess they're finally right."
so i guess this is where i add:
WE TOLD YOU SO.
marmy:
WE TOLD YOU SO.
marmy:
Not good news for flippers...
But great news for buyers!
WOW :love: :love: :love: :love:Qman said:Sumpthin' along these lines perhaps?
Too bad cool houses like that aren't "allowed" in the midst of all these McMansions that are so popular here in the south......:mumble:
Where is that house anyway??
I'm still waiting for an explanation on how a 3% increase means the bubble burst?
douglas said:
Your a democrat, right?
Just think of it like this: Ted Kennedy wants $50B for some welfare program for drunk drivers who 'accidently' drown their pregger girlfriends. Let's say Congress has it currently funded at say... $40B. Now that, in Teddy's eyes, is a $10B cut.
Capiche??
let us know how yr flip goes.douglas said:
N8 said:
ok, I get it now
so 1,194,000 > 1,233,000
narlus said:
I will, but problem has been potential flips are either over priced or sell 1st day
douglas said:
We have seen a slight slow down here locally. Mainly in the $250k+ market.
Our basic new 3 br/2 ba 1800 sf house goes for $170k-ish and that market is still good.