Now that the Federal Reserve-stimulated asset bubble has burst in the housing markets, and the subsequent follow-on government attempts to fix a government-created economic crisis are failing (see cash for clunkers and the market-distorting “first time homebuyer credit”), it’s time to assess your current situation and decide whether or not to walk away from...
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Posts Tagged ‘ housing market ’
Walk Away from that Mortgage
Local Housing Market Still in the Tank
I found an interesting chart, courtesy of city-data.com, showing the median home price in Grand Rapids, as well as the number of homes sold on a quarterly basis. Clearly things are bad and getting worse. Median home prices have dropped almost in half since 2004. Incredible! Oh, and remember our post about how the...
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GR Losing Residents
Today the US Census Bureau released a report showing that the city of Grand Rapids is losing population. Surpised? Hardly. As we’ve reported earlier, the city of Grand Rapids now has the second-highest tax burden in the county. And what do we have to show for it? A nifty new convention center. Even as...
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