PRICE REDUCED - That Rumson House Again
This house in Rumson is now listed on the MLS for $799,000. As of August 5th it was listed for $835,000. Prior to August 5th it was listed at $875,000 and before that $899,000, which was down from $940,000 back on May 5th when we first started tracking it.
The asking price of this house has been reduced $141,000 since May 5th, which reflects a 15% decline. As they say on the street, "annualize that".
Click here to see the listing.
If the URL changes, use MLS ID#: 10038427
The asking price of this house has been reduced $141,000 since May 5th, which reflects a 15% decline. As they say on the street, "annualize that".
Click here to see the listing.
If the URL changes, use MLS ID#: 10038427
posted by Little_Silvered at 8:22 PM
22 Comments:
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Those old-fashioned economists like Greenspan and Shiller don't understand the New Paradigm: Everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their property will continue its 30% yearly price increase.
Renters, and anybody born in a future generation, will not be able to afford a $10,000,000 starter home in 15 years. They will live in tent cities, and hondas.
This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.
" Those old-fashioned economists like Greenspan and Shiller don't understand the New Paradigm:"
Uh oh! Sounds like another FC troll found this site!
I suppose that's better than the spam-bots. And the message DOES bear repeating.
Carry on.
FC Trolls are the best trolls.
Motorcycle
thanks for tracking. Which town is this house located in?
Rumson, New Jersey
This comment has been removed by a blog administrator.
It looks like a greedy industry insider has joined in.
If you are looking to buy a house, don't do it. Wait. Prices will be falling hard. Start getting serious when prices are down about 20-25% for houses and about 40-50% for condos.
The housing market is stupid now with morons running around with interest only loans and other schemes to flip and speuclate in housing.
So many blogs and only 10 numbers to rate them. I'll have to give you a 9 because you have a quailty topic.
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