Ask MetaFilter questions tagged with housing and economy

Most likely to become notorious ghost malls?

Kirklander — Wed, 04 Feb 2009 23:13:25 -0800

With grim predictions out there of U.S. malls being hit hard by the economy in 2009 and turning into "ghost malls," what large malls in the country stand out as especially doomed? For example, I imagine that somewhere out there, there must be an overbuilt, unloved big-box retail complex or two that has already been rendered unnecessary by the nearly effects of the housing slowdown. Or is this wrong? Not a city planner, just curious...

Who best helps the homeless?

evil holiday magic — Sat, 25 Oct 2008 21:09:12 -0800

How can I help Southern California's homeless? I don't have the time or inclination to volunteer directly, but I want to contribute to those involved in getting homeless people back on their feet. Does anybody have a favorite program that gives people down on their luck options for finding things like work and affordable housing?

Yep, another economy question!

Chris4d — Fri, 26 Sep 2008 12:30:12 -0800

Is the credit crunch (and every other economic crisis) an inevitable result of selfish attitudes? Say the continued health of the economy is (gross oversimplification) about future expectations. When reality doesn't meet expectations, there's bad news for somebody (or everybody), but it's generally temporary: lower-than-expected earnings, unhappy stockholders, smaller bonues, but still minor in the grand scheme. People still have jobs, they still contribute to GDP, trade still occurs, etc. etc.

This time, a big chunk of the economy has failed to meet expectations. But that's not a big deal. I mean, really, it shouldn't be. In my head, the investment banks and the lenders and all the other players collectively say "hey, these mortgages aren't the sure-fire investment we thought they were. Sorry! We're going to suffer for a while and we are waaaay overleveraged, but we'll clean up the mess and then we'll be fine!"

Instead, everyone is running for the door and nobody wants to get stuck cleaning up the mess they're leaving behind. Is this really a "feature" of the system, that nobody is willing to lose a little money, and so everyone now stands to lose a lot more?

Thank you for letting me display my ignorance publicly. Begin the flogging!

Should I buy now?

matthelm — Tue, 23 Sep 2008 14:08:37 -0800

In the market of Buying a Condo in the Los Angeles areas and want to know how to research best. Need to find out sites that keep me up to date with the housing market, when its good to buy etc...for with the economy right now I don't really know what to do.....please help I held off from buying a condo cause I was having a wedding and now that that's over I wanted to start looking for a condo. But now the economy just sucks and now when I have the time to devout to finding a place I feel it might be wise to hold off. I need to find sites that can get me in touch with whats going on with the housing market out here in the LA areas. My plan was to get a condo by end of year or beginning of next...i manage a apt complex so rent is free and I have saved a lot, but we are soooo tired of the small one bedroom that to keep our sanity I was maybe even thinking that getting a 2 bedroom apt for a year might be more wise and when the lease is up maybe the economy will be too and we can buy a condo then....any help would be greatly appreciated

How low an offer should I take for my house?

Mom — Thu, 17 Jul 2008 16:56:45 -0800

How low an offer should I take for my house? 2 family house.

Bad: Has some knob&tube wiring, crappy, beat-up garage, kitchens haven't been renovated. Close to noisy road. 1 really awful neighbor that the city will take to court for basically being a dump. Built @ 100 years ago; I'm the 3rd owner.

Good: Has gorgeous period woodwork, pretty good location. Close to the ocean, shopping, bus lines, recreation, university. Replacement windows, insulation, recent roof.

Put it on the market at 325. Under contract at 305, buyer bailed out. Gave realtors 1 month extension of contract, reduced price 10% to 293.

There are are @ 50 2-family houses on the market, many more 3 & 4 family houses, and few buyers. Rents will cover my 1st & 2nd mortgages on the house. I have a new house, sick of being a landlord, would like to have cash to buy more land, and generally have better cash flow. Have negotiated an offer to 285.

My real question? How bad do you think the market will get? How bad do you think the economy will get? My town is healthy, real estate market is soft but hasn't really tanked. I tend to be quite pessimistic about the current state of affairs.

Thanks for your advice.

Housing market explanations

crapmatic — Wed, 26 Mar 2008 07:55:07 -0800

What are the core reasons for the sagging housing market -- not in terms of what is going on at banks and at the Federal Reserve, but rather, why is Joe Sixpack is not walking in to Century 21 with a preapproval and eager to buy? I know people are upside down on their mortgages, properties are not being appraised at their true values, the dollar is falling, the bubble is going through an implosion, and so forth, but I'm trying to clarify my understanding in less abstract terms. Why is Joe Sixpack is (presumably?) not shopping right now? Does it have more to do with being unable to get a loan or more with not being interested in buying?

I feel I have a good understanding of the problems but I don't think all the pieces connect in my mind at a more practical level.

Furthermore -- I'm aware there are big reasons why places like SoCal and the southwest are burned out, but I am more interested in what's going on in "average America" places: the south, the Midwest, etc.

Also is there any U.S. region or type of housing that isn't being affected much right now?