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Thread: Mortgage applications at lowest level in two decades

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    Re: Mortgage applications at lowest level in two decades

    Quote Originally Posted by specklebang View Post
    Yes. That is why I always put my "this is NV" disclaimer in any post where I use anecdotal information. I agree that NV numbers are more extreme, but they still follow the overall pattern of the bubble event, just a little more so. However, FL was the other state that most resembled NV.

    What about wherever you live? What did you experience between 2000 through 2013? Was your peak in 2005? Was your bottom 2009? I heard the East didn't have any big moves and that prices (in the cities) are well above 2005. You have to live somewhere to understand the fluctuations of your area.
    In those times I lived in Michigan. We didn't have a "peak". When GM all but closed its doors, Michigan essentially became Ground Zero. We had a lot of shop guys with second homes that essentially got thrown to the wolves. We also led the nation in unemployment for much of that time. Therefore, as bad as the housing market was here (and it was bad), it was overshadowed by abysmal employment rates.

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    Re: Mortgage applications at lowest level in two decades

    Quote Originally Posted by Gipper View Post
    In those times I lived in Michigan. We didn't have a "peak". When GM all but closed its doors, Michigan essentially became Ground Zero. We had a lot of shop guys with second homes that essentially got thrown to the wolves. We also led the nation in unemployment for much of that time. Therefore, as bad as the housing market was here (and it was bad), it was overshadowed by abysmal employment rates.
    Are you saying that MI (presumably Detroit or large cities) did not have the bubble? That wouldn't surprise me since MI has had a rough go for quite a long time.

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    Re: Mortgage applications at lowest level in two decades

    Quote Originally Posted by specklebang View Post
    Are you saying that MI (presumably Detroit or large cities) did not have the bubble? That wouldn't surprise me since MI has had a rough go for quite a long time.
    It had something reminiscent of a "bubble", but you just can't tell when it was in different phases of "bad" in that aspect because the entire state was battling double-digit unemployment for years with no relief on sight.

    It's kind of like stabbing yourself in the hand to make your headache hurt less.

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    Re: Mortgage applications at lowest level in two decades

    Quote Originally Posted by Fishstyx View Post
    Yeah, FL has definitely been undervalued for awhile. Took me 6 years to get my property right side up. Right now isn't a bad time to buy down there. There are a ton of real good deals.
    as long as you stay north Fl. if you get below melbourne the price just up hugely. from viera down deal are hard to find.

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