Profile picture for tobiasjones

Would you trust the numbers preceding "according to the California Association of Realtors."

I really didn't start off this jaded.

  • April 07 2008 - US
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Answers (7)

Profile picture for BuyEqualsRent

How can you tell a realtor is lying?  His lips are moving...

  • April 07 2008
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Profile picture for space_acer

always check their numbers against DQNews.com

 

 

  • April 07 2008
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Now it's a great time to buy

  • April 07 2008
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If I were a realtor they would really embarras me.

  • April 07 2008
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Profile picture for broker_GRI

When info comes from NAR I look at the stats and combine it w/other sources. Typically when My buyers, sellers and agents get information from me it will be the numbers I compile directly from my own MLS.

  • April 07 2008
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The national association of realtors and the main steam media predicted a SOFT LANDING to the real estate industry in 2006. No problem they said.

 

They knew better. They knew it all along. Wall st certainly knew it.

 

Its the inventory really. The MLS didnt attempt to limit its listings. The MLS became so over saturated with listings, reators started conning their clients into slashing the prices to sell.

 

Once that happened. Prices fell. Once prices fell, speculators and builders panicked and tried to unload. Then banks started tightening their lending. People caught onto the fact prices were dropping and dumped their properties on the market before it collapsed -which actually then caused the total collapse.

 

Sub prime outfits couldnt unload their paper, so they hid their foreclosures. Then they couldnt meet their margins and started going under. This made wall st even more freaked out and then more lenders went under.

 

The whole vicious cycle unravelled. Here we are today.

 

Next time. How about not letting everyone dump their property on the market and severly limit building permits based on the existing inventory at the time.

 

Might make common sense wouldnt it ?

 

 

  • April 08 2008
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Profile picture for BuyEqualsRent

Many people know the truth, but nobody wants a panic.  They'll play this out as long as they can and unwind as much as possible before things hit the fan.  By winter of this year I think it will be too big to manage, we'll start to see major bank failures.

  • April 08 2008
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