Falling prices trap new homebuyers

Thread View: sci.econ

1 messages

[T] Back to Threads [V] Tree View [G] Group Articles

1 total messages Started by Anonymous Thu, 14 Dec 2006 20:39

#2010

Author: Anonymous
Date: Thu, 14 Dec 2006 20:39

16 lines
1658 bytes

Neighbors in a new Garden Grove tract say a 
developer's plan to slash prices by about 
$140,000 has left them owing more for their 
homes than they're now worth. By JEFF 
COLLINS The Orange County Register

GARDEN GROVE � David Dunn felt as if 
Christmas were stolen from him when prices 
for neighboring homes in his new subdivision 
fell by about $140,000.

Now, he says, his home is worth less than he 
owes, making it next to impossible to 
refinance before his $3,000-a-month payment 
doubles. Eleven neighbors who bought before 
the price cuts are in the same boat.

Thread Navigation

This is a paginated view of messages in the thread with full content displayed inline.

Messages are displayed in chronological order, with the original post highlighted in green.

Use pagination controls to navigate through all messages in large threads.

Back to All Threads