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I'm waiting to see what kind of "election year pranks" are pulled. They will be coming soon.
The real fun will be when the candidates start making pledges to help property values rise. That'll be a hoot.
Scares me a little.
"They will be coming soon."
Not a rollicking good time, but very informative documentary re: "electronic" voting machines.
Interesting stuff
You know what I find a little weird though...it's an election year, and gas is through the roof. Isn't that one thing that normally is down in an election year.
Are the gas companies, and the governments on the outs?
"Are the gas companies, and the governments on the outs?"
I wouldn't think so with our oil men in charge of both.
Hmmm.
"The real fun will be when the candidates start making pledges to help property values rise."
I will expect that from the Demo'a more than the Republicans...I expect McCain to be more
realistic and tell it like it is! It may not be pretty but he may be more honest about it... so
no pledges there...
On the other side... "Evita the Ice Princess" will say anything to get elected, and tax the crap
out of everyone.. but many more people will ask.. "What planet does does she live on?' than
ask for a pledge to help property values rise..
1. Home Prices Should Fall
2. Some Borrowers Should Be Renters
3. There Should Be Consequences
f u c k you spleng. Too bad there WILL be a bailout since nobdoy gives a sh!t abotu what you think
no need for a bail out
the market will fix itself
and bush said he would give it the veto
anyways
good luck
Who will buy?
If you live in a desirable area, foreigners. Already started.
Next, investors.
Last, future homeowners.
No need for bailout. Market will correct as it always has.
Only fools think markets move only in one direction.
I'm amazed at how many user names Alpine has, Goes to show he/she has an identity crisis on his/her hands.
Anyway, yes, 2008 will be even worse than 2007. This shouldn't come as a surprise to all except for the most dimwitted individuals.
Wow, guava, I'm impressed. You actually do get it.
good guava. All you needed was a hug.
See... no need for bashing here guys. We are all adults here, I think? So can we all agree that housing is a good long term investment vs renting? And that there are good deals out there if you look for them? C'mon, the light side is much better than the dark side. Join me!
The mistake made by many 'cheerleaders' is assuming all posting against buying when fundamentals are out of line, especially in severely declining markets, is.. wea re all bitter renters that will never buy (or afford to buy as you may think). Many here *are* going to buy but when they feel the time is right in their markets. I agree, housing is a good long term investment, I would not hold the mortgage to 2 if I thought otherwise. But in *certain* areas, buying *now* is a losing proposition. That's all.
Wow! Socal. Welcome to the light side. We are both in total agreement. "Certain" areas are very bad to buy in now. Each buyer must do his or her due deligence. But the flip side is that the are "certain" areas that are good to buy in as well. That's all I'm saying.
Just like there are "some" cheerleaders that put on the blinders, there are "some" doomers that do the same. I can think of one off the top of my head that posts everytime about how the decision to buy was a bad choice.
It has to be an informed decision...and the information should be on your market, how long you will be there, price compared to comps...and so on.
I would say that the cheerleaders need to understand the concept that in many cases, it's smart to rent...and the some doomers need to realize that in some cases, it's smart to buy.
Then we can all get along and gang up on the trolls, and the drive-by posters.
"I would say that the cheerleaders need to understand the concept that in many cases, it's smart to rent..."
Like now.
"...and the some doomers need to realize that in some cases, it's smart to buy."
In a few years.
Spleng,
You make some very interesting, and often valid, claims. However, how do you account for the fact that in many areas of the country the real estate market, though soft compared to recent boom years, is rather healthy? Further, I find it fascinating that the local papers where I live cite numerous, and accurate, statistics showing a worsening market "nationally", but fail to point out that, at least locally, the numbers aren't nearly as dire.
I guess that "many areas ... real estate is healthy" means like NONE of the 20 biggest metros, no part of florida/california/nevada/arizona, etc?....
weeber
keep the house
not a good time to sell a house
and gas for the RV is expensive
anyways
good luck
... and, it's free and anonymous
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"The Housing Market is Nowhere Near Bottom"
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Spleng
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"Let's start with supply. First, there are a ton of existing homes on the market -- right around 4 million (charts are from Calculated Risk)."
"And this is before we get into the issue of foreclosures."
"This translates into a little under a 10 months supply. Also note that this number -- months of supply -- has been increasing."
"So -- we have a ton of supply on the market. Unfortunately that has not translated into a big enough cut in prices to stimulate demand. Here is a chart of the Case Shiller home price index."
"Notice that prices increased about 90% in 6 years, yet have barely dropped in comparison to the massive run-up they had during the early 2000s. Simply put, we have a long way to go before we start seeing prices hit an inventory clearing level."
"And who's going to buy these houses?"
"Job growth has been dropping, which is leading to"
"Dropping income, and"
"Dropping consumption. In addition, it's not like Americans can take on much more debt."
"The basic economic facts are very straightforward: inventory is really high and demand is dropping. That means we can expect more price drops for the foreseeable future."
The Housing Market is Nowhere Near Bottom
(each statement above accompanied by chart, nice succinct presentation)
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