A sense the housing market has bottomed.

Smart Money · Feb 28, 2007

Quote from Quark:

SM, for a unique view of the economy you won't find in useless mainstream media, you might find Mish's blog worth a look at http://globaleconomicanalysis.blogspot.com.

If you spend some time reviewing his posts from the last few weeks, I think your optimism about RE and the economy may be tempered just a wee bit. What I like best is that Mish's analysis is usually well thought out and backed up by data. I especially like how he deconstructs economic reports and reveals that most of them are loaded with pure bullshit.

Here's a sample: From the Boston Globe:

January had the highest number of monthly Massachusetts foreclosure filings in at least two decades as local consumers struggled to hang onto their homes, according to a new report.

Last month, 2,207 foreclosure filings - or 110 every business day - were submitted in Massachusetts, more than double the number of a year ago; filings in January 2007 were up 105 percent from 1,076 filings in January 2006, according to ForeclosuresMass.com, a Framingham firm that provides online Massachusetts foreclosure data to investors, real estate agents, and lenders.

"The flood of foreclosures in Massachusetts is not only continuing; it has reached a new high," company president Jeremy Shapiro said in a statement. "The fact we are starting the year with the highest number of foreclosures we've ever recorded for a single month is more than significant - it's ominous."

There's another fun site at http://thehousingbubbleblog.com which is a compilation of articles about RE from around the country.

You said you wanted more facts and data, well, here are some to ponder.
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Thanks. I'll look at them though I generally don't seek information from blogs dedicated to a certain conclusion. I think its would be as unwise to look for information there as it would to go to a site called www.thebubbleisover.com . Neither would be objective. I only go by what I see myself and the actual data compiled. I can't even read the paper because of all the opinion in it. Basically, I'm trying to spot the trend before the herd does...while they are still reporting on stuff that happened a month ago in the context of an opinion that was formed several months ago.

If we were bottoming right now, I don't believe the mainstream media would report on it for months and by that time, the good deals would be gone.

SM

Quark · Feb 28, 2007

Quote from Smart Money:

...I'll look at them though I generally don't seek information from blogs dedicated to a certain conclusion...
More...

Certainly the NAR's data is intended to support a conclusion, is it not?

SM, EVERY source of information is pre-disposed to some position, based on the "evidence" it uses. It's all about the analysis and the reason used in reaching a conclusion. Yes, most sources are crap, but I think you'll find Mish is an exception. I like that he "shows his work".

dandxg · Feb 28, 2007

Quote from Quark:

SM, for a unique view of the economy you won't find in useless mainstream media, you might find Mish's blog worth a look at http://globaleconomicanalysis.blogspot.com.

If you spend some time reviewing his posts from the last few weeks, I think your optimism about RE and the economy may be tempered just a wee bit. What I like best is that Mish's analysis is usually well thought out and backed up by data. I especially like how he deconstructs economic reports and reveals that most of them are loaded with pure bullshit.

Here's a sample: From the Boston Globe:

January had the highest number of monthly Massachusetts foreclosure filings in at least two decades as local consumers struggled to hang onto their homes, according to a new report.

Last month, 2,207 foreclosure filings - or 110 every business day - were submitted in Massachusetts, more than double the number of a year ago; filings in January 2007 were up 105 percent from 1,076 filings in January 2006, according to ForeclosuresMass.com, a Framingham firm that provides online Massachusetts foreclosure data to investors, real estate agents, and lenders.

"The flood of foreclosures in Massachusetts is not only continuing; it has reached a new high," company president Jeremy Shapiro said in a statement. "The fact we are starting the year with the highest number of foreclosures we've ever recorded for a single month is more than significant - it's ominous."

There's another fun site at http://thehousingbubbleblog.com which is a compilation of articles about RE from around the country.

You said you wanted more facts and data, well, here are some to ponder.
More...

That economic blog for Mish, the link doesn't work?

ByLoSellHi · Feb 28, 2007

Quote from dandxg:

That economic blog for Mish, the link doesn't work?
More...

Dan, try again. It just worked for me using firefox.

dandxg · Feb 28, 2007

Quote from ByLoSellHi:

Dan, try again. It just worked for me using firefox.
More...

Weird, I use ff too and it still doesn't work,hmm? I will try a diff. browser.

bgp · Mar 5, 2007

how is the housing market doing ? lets look at everyones comments.

bgp

ByLoSellHi · Mar 5, 2007

The housing market has a ginormous bottom, though it hasn't been found yet.

bgp · Mar 5, 2007

yes !

Quark · Mar 5, 2007

Quote from dandxg: That economic blog for Mish, the link doesn't work?
More...

Sorry about that - it appears the period at the end of the sentence got picked up. Try this one:

http://globaleconomicanalysis.blogspot.com

TM_Direct · Mar 5, 2007

two more years....with one more year of PURE pain and the other being moderate....the reason??? Look at the news on FMT...even if there was a great value on a home that dropped from say 400k-225k...many who would want it can no longer qualify...even less buyers = more PAINNNNN ( as Clubber Lang once said)