Housing Prices Fall Seven Percent

Full story: Hartford Courant

Connecticut's housing recession deepened in March, as sales plummeted and the median sales price of a single-family house slid for the fourth month in a row and by the most since the mid-1990s. The median sales ...

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Liberals promote poverty

Woodbridge, CT

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#1
May 6, 2008
 
This so-called Housing crash was the best thing for our economy. It's helps clear the deadwood out of purchasing property they have no financial right to purchase.
It's about time people realized you can not use your home for your own personal ATM. Your home is a dwelling NOT and investment.
Village Idiot

Chicago, IL

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#2
May 6, 2008
 
now we just need to have developers who will build something other then the mansions that people have to buy, even if they can't afford to furnish it. Maybe then there will be nice, but lower costing, homes that people can afford to buy, and enjoy
anon

Manchester, CT

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#3
May 6, 2008
 
Real Estate speculation drove prices to a completely unrealistic level. The numbers being quoted, even after reductions, are like Monopoly money. They are not connected to reality except in the minds of those who believed they could 'flip' a house and make money at it.

This was a classic game of musical
chairs set in motion by real estate speculators in the know. They got out while the market was frenzied and left the unknowing holding the bag.

This happened in the 1980's as well.
Wes

Manchester, CT

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#4
May 6, 2008
 
Liberals promote poverty wrote:
This so-called Housing crash was the best thing for our economy. It's helps clear the deadwood out of purchasing property they have no financial right to purchase.
It's about time people realized you can not use your home for your own personal ATM. Your home is a dwelling NOT and investment.
True that
New Britain

Hartford, CT

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#5
May 6, 2008
 
Village Idiot wrote:
now we just need to have developers who will build something other then the mansions that people have to buy, even if they can't afford to furnish it. Maybe then there will be nice, but lower costing, homes that people can afford to buy, and enjoy
Try and find a small home for two people after you retire with a small lot. There is none. Who needs a mansion when you are in your seventies? Or a two floor home when you can clime stairs?
PPG

Storrs Mansfield, CT

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#6
May 6, 2008
 
I agree with everyone. Everything in this state is so out of sync with the average income. These prices need to come down and people need to start realizing that the house they are trying to sell is worth much less than the speculative market said it was worth only a few years ago. CT homeowners trying to sell have still not come to terms with these "real" prices.
mike the tax payer

United States

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#7
May 6, 2008
 
awesome! I plan on buying my first home sometime in the next year or so. These prices have been insane the last few years.
Steve

United States

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#8
May 6, 2008
 
If buyers were required to put down 20% of the purchase price of a home none of this would have happened. Some people do not have the means to own and maintain a home. The influx of buyers with little too no downpayment artificially drove up prices and we are all going to pay for these mistakes!!
CT Luver

Fond Du Lac, WI

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#9
May 6, 2008
 
New Britain wrote:
<quoted text>
Try and find a small home for two people after you retire with a small lot. There is none. Who needs a mansion when you are in your seventies? Or a two floor home when you can clime stairs?
There are plenty available but they are in the towns closest to Hartford and people want to live out in the suburbs. I'm in my early 50's and live on one level with a modest lot to take care of. I can't imagine a larger house and a lot to maintain as I get older. And stairs, whoa. Went to a friends house for the weekend who has a McMansion and my knees are still sore.
Rick Shaw

Hartford, CT

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#10
May 6, 2008
 
Village Idiot wrote:
now we just need to have developers who will build something other then the mansions that people have to buy, even if they can't afford to furnish it. Maybe then there will be nice, but lower costing, homes that people can afford to buy, and enjoy
Very true.. Thats why the overall population in connecticut is on the decline. The Young and Old are going to much more viable, affordable areas like Fla, NC, Georgia, Texas.
Tom

United States

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#11
May 6, 2008
 
This state is only a suburb of NYC and Boston. That's why there's virtually no real connection between the local economy and housing prices.
Shawn

Newington, CT

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#12
May 6, 2008
 
Yeah, but the problem with falling prices is that the Welfare and Way Too Many State Employees kingdom of Connecticut is just going to end up increasing your mil rates to make up for your house that is now worth less, AND you have to pay the same amount in taxes because they figured out how to spend all that extra money from the increased house prices. So you might be able to finally afford a house, but can you afford the taxes? And a 20% downpayment? How the hell do you save up 60K to buy a decent house here in CT? I'm glad all you rich people with jobs in New York live here in CT and drive the prices up on everything.
Bob

Newington, CT

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#13
May 6, 2008
 
I wish they'd redo the revaluation now......
Daniel Shays

Hartford, CT

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#14
May 6, 2008
 
Shawn wrote:
I'm glad all you rich people with jobs in New York live here in CT and drive the prices up on everything.
Boo hoo. Whiner.
Jeff

Monroe, CT

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#15
May 6, 2008
 
Waaah waaah what a bunch of babies. "Rich people and liberuls hert my pussie" waaah waaaah waaaaah.
Step Further

United States

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#16
May 6, 2008
 
Liberals promote poverty wrote:
This so-called Housing crash was the best thing for our economy. It's helps clear the deadwood out of purchasing property they have no financial right to purchase.
It's about time people realized you can not use your home for your own personal ATM. Your home is a dwelling NOT and investment.
And if they could only get rid of the interest deduction and bring back the pre-payment penalties, life would be wonderfully dreadful.

“Not PC”

Since: Feb 08

Charlotte, NC

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#17
May 6, 2008
 
Rick Shaw wrote:
<quoted text>
Very true.. Thats why the overall population in connecticut is on the decline. The Young and Old are going to much more viable, affordable areas like Fla, NC, Georgia, Texas.
I agree. My husband and I moved down to NC about 4 years ago. The cost of living is only about 10% less than CT, but the winters are alot milder (no snow). But, as with CT, the job market stinks unless your in banking.
FUDD

United States

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#18
May 6, 2008
 
good...........let the prices fall even faster.................this whole STINKING state is overpriced
Don

Meriden, CT

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#19
May 6, 2008
 
Liberals promote poverty wrote:
This so-called Housing crash was the best thing for our economy. It's helps clear the deadwood out of purchasing property they have no financial right to purchase.
It's about time people realized you can not use your home for your own personal ATM. Your home is a dwelling NOT and investment.
I hope the "deadwood" is the house of your child or grandchild. A home is a dwelling and an investment! It's time for an oil market correction revolution! Let the oil bubble burst and speculators be damned!
FUDD

United States

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#20
May 6, 2008
 
Wes wrote:
<quoted text>
True that
LIBERALS have destroyed this state..........

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