Friday, June 17, 2011

House for Sale...but why?

Apparently there is something wrong on my block as 9 homes are for sale all at the same time.  Six of them have been on the market for over six months (some over a year) and two (my neighbor across the street and the one next door) went on the market this month.

My first question is WHY?

Housing values have dropped dramatically more so than the Great Depression and it will take an estimated 19 years for the market to recover. The family across the street and the one next door are both my age - under 30 and they have only one child. Our community does not have the best unemployment rate so there is not a huge influx of people moving here to buy houses.  So why on earth would you do this to yourself financially? They're reasons for moving (across the street (4bed/4bath) is because they want "more land"...but I personally think they're broke and can't afford it anymore. The house next to us (2 bed/2 bath) wants more room. Seriously? The kid is six months old...why now? Mr. M sent me a text yesterday asking if we smelled when he saw the sign in the yard next door.

I'm not trying to be ugly but I hate it when people make poor financially decisions and then it affects me. With all of these homes for sale in such a short distance, my housing value is dropping. It's to the point that I don't open my e-mails from Zillow anymore. So if Mr. M and I tried to find a better paying job in another city, we couldn't sell our house right now since there is clearly to much inventory on our street. Do you see my frustration?

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