{"id":198245,"date":"2007-11-28T11:38:00","date_gmt":"2007-11-28T16:38:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/11\/28\/todays-real-estate-update\/"},"modified":"2007-11-28T11:38:00","modified_gmt":"2007-11-28T16:38:00","slug":"todays-real-estate-update","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/11\/28\/todays-real-estate-update\/","title":{"rendered":"Today&#8217;s Real Estate Update"},"content":{"rendered":"<p><a href=\"http:\/\/www.charlotte.com\/local\/story\/377406.html\">HUD is starting to dump foreclosed homes<\/a>, teachers, police officers and firefighters in Charlotte, NC can get homes for fifty cents on the dollar, <a href=\"http:\/\/money.cnn.com\/2007\/11\/26\/real_estate\/Case_Shiller_index_drops\/index.htm?postversion=2007112709\">Third-quarter home prices dropped 1.7% from the second quarter<\/a> as measured by the Case-Shiller index, and houme values are <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=atgFG_y3hGqY&amp;refer=home\">expected to drop $1.2 <span style=\"font-weight:bold;\">TRILLION<\/span> next year, with a drop of $6.6 billion in property taxes<\/a>.<\/p>\n<p>So a federal agency is marking down homes that they can&#8217;t get rid of 50%, house prices are dropping at an annualized rate of about 7% a year, and property tax revenues are falling through the floor, and what is likely a 5+ year decline is only about 14 month along.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HUD is starting to dump foreclosed homes, teachers, police officers and firefighters in Charlotte, NC can get homes for fifty cents on the dollar, Third-quarter home prices dropped 1.7% from the second quarter as measured by the Case-Shiller index, and houme values are expected to drop $1.2 TRILLION next year, with a drop of $6.6 &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973,1265,1088],"tags":[],"class_list":["post-198245","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-housing-crash","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198245"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=198245"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198245\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=198245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=198245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=198245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}