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"UNDER WATER"??? WHO'S UNDER WATER?? WHAT'S UNDER WATER??
"UNDER WATER"???    WHO'S UNDER WATER??  WHAT'S UNDER WATER??
                           * * * * WARNING!  HARD CORE REAL ESTATE TALK * * * *
WHO IS UNDER WATER?A huge percentage of the American Consumers.
HOME OWNERS ARE UNDER WATER.  25% - 33% of all home owners in the United States of America.  Beginning in about 2006, we in the real estate industry began to see a shift.HOME PRICES SKYROCKETED.  Fueled by lower than ever interest rates and less than intelligent mortgage instruments, home prices had reached a point where the average prospective home buyer could no longer qualify to buy the average home price in their area of choice.  Sales plummeted and almost minute to minute, prices began to drop.  The price reduction didn't stop and in fact continues.  Home values dropped about 8% nationwide in April 2011.  That's about 4 years to the month that the market began it's downward spiral.
                       

2007
"Honey, do you think we'll ever be able to buy a home?"
"I don't know Dear, the prices have gotten so high, even with low interest rates, we're not going to qualify for a home near the children's schools."
FOUR YEARS LATER, prices are lower than ever.  Even lower than ever interest rates are ... more

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