Last week housing starts dropped to a six year low. This and many factors are pointing to a further fall in housing prices. Do you think we have further to fall in the housing market??
CNBC just said the worst is over What I can't understand it was rolling for 10 years And it's just started going downhill for 3-4 months And it's already over? I can't understand do you need to be an idiot to become an analyst?
i find it inconcievable that a mutliyear run up of the largest housing boom in the countries history can end with just a blip. I say NO WAY it has ended..It hink the pain has just begun. this bugger has a long way to correct. I am still in the camp that things it is highly possible that the collapse of real estate will drag down the rest of the economy with it ionto a recession....despite the current Eocnomic numbers.
its hard to believe its a bottom. I think why everyone hopes its a bubble is because of the long-term negative effects on GDP because everyone will be busy paying off their high costs houses, so less discretionary income for everything else.
No way is it done in my area (SoCal), it's just getting started. IMHO, it has another 20-30% downside to go. Reported sale $ numbers have NOTHING to do with reality. They should have to report sales amount as "net to seller" before normal cost, not gross including concessions. Some places have been empty and for sale for over 1 year with no price adjustments, looking for 2004-2005 money. Inventories have gone up 3-5 fold. We have almost 1 year inventory on the market currently, up from a 45-60 days. Sales down 40-50% Too many homes are ARM/IO, are adjusting, and busting out borrowers. Funny that the $1 million+ homes are still moving pretty well, thus swinging/keeping median prices up. 85% of the homes sold in my area are 450K or less. Regular folks market is DEAD. Anyone that wanted a house in the area already has one, even those that could fog a mirror and not afford it. Speculators are GONE. Just MHO and worth everything you paid... LOL
http://www.safehaven.com/article-6329.htm great article. make a convincing albiet bearish case. a long read...but a good one.
http://www.flippernation.com/default.htm this is funny...the beginning of making fun of the real estate flip get rich quickers.
LOL!LOL! The title of your thread makes the poll deceptive...if the answer to your question was "yes", you need to vote "no" in the poll. What a moron. But then, you write a post to influence someone how to vote. Good job. I doubt there is anyone bullish on housing right now...your poll just confused them. OldTrader
I was confused until I read the actual question within the forum itself. The headline question is totally different from the actual question...