Is the housing market recovering where you live?

[Moonbeam]

I have a bad feeling about housing. I don't see the investment in future technology like solar, wind, fuel cells, etc that can put us back to being a manufacturing nation that will counter low class service jobs that make housing unaffordable for most, especially the unemployed.

 

[WhipperSnapper]

Originally posted by: miketheidiotfargo, north dakota

What is it that keeps Fargo afloat? Is it a market for corn and ethanol?

 

[WhipperSnapper]

Originally posted by: Moonbeam
I have a bad feeling about housing. I don't see the investment in future technology like solar, wind, fuel cells, etc that can put us back to being a manufacturing nation that will counter low class service jobs that make housing unaffordable for most, especially the unemployed.

From what I can tell, at least asking prices are still higher than they were before the start of the bubble. (Maybe I'm wrong.) Everyone needs housing and our population is continuing to explode, but that need won't help move $400,000 houses if people are having difficulty finding jobs that pay $12/hour without benefits.

 

[IronWing]

Originally posted by: WhipperSnapper

Originally posted by: miketheidiotfargo, north dakota

What is it that keeps Fargo afloat?

The Red River mostly.

 

[BurnItDwn]

Prices are still very far down, but it seems like they are selling now. Seems like a lot less "on the market" overall. I'd say the housing market looks "less dismal" than it did a year ago, but it's still very very far from healthy.

 

[nageov3t]

there's a housing complex a couple blocks away from my apartment that's been shutdown for like a year and a half now.

I saw someone mowing the grass around it over the summer, but that's about it... it has 1 row of completed townhouses and another 3 rows of empty foundation slabs with nothing on them. I kinda wonder why they haven't tried renting out the already constructed townhouses, I'd definitely take a look at them.

I also still see a ton of For Sale By Owner signs around.

 

[piasabird]

There was not much of a down market in the midwest area around St Louis, MO. Some prices were down a bit in some higher priced areas around St Louis, MO, but the houses seldom sold for over $300's. You can still get a nice house in the mid 200's. In a lot of areas Houses sold before that from 150's to 200's. Probably Chicago was a lot worse. There is a lot more sprawl around Chicago. Chicago is probably half of the population of the state and more liberal.

I would say in the mid-west banks are a lot tighter with their money and they dont make a lot of stupid mistakes. They do have a lot of morons working for them and often mismanage their positions, but they are still pretty tight on the funds.