HA HA But those days are over with....making money in real estate. It's a depreciating asset from here on out....at least for the next couple of years.
Greenspan doesn't seem to think so,he thinks house prices could stabilize this year: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aaxAVt6wuHQg
Is this the same Alan Greenspan who thought creative mortgage products would be of benefit to consumers? The same guy who didn't see a housing bubble? And then when things started getting bad, admitted he didnt get it til it was too late, and finally admitted there was, in fact, a bubble? The guy who now advocates socialism to get out of this mess? Personally, I would think twice before trading along with Easy Al.
Easy Al...Bubble boy imo fits better can someone put Easy Al face in that picture? holding toilet paper
Maxpi,, I respect your posts, but i think your above example is a little extreme, if there is only one realtor in my town, that person would be closing 1500 home closings per month in our county and would be worth tens of millions within a year or so,lol.. Something to think about. At the peak in our area, West Coast of Florida, the busiest month we had was a 3500 unit month. That is closings in one month, one helluva of a drop. This is a diifucult call to make, but I think the best estimate would be as a previous poster said, it will be location specific. Some areas I know have maintained thier values for the last 6 months, beach, downtown, little niche beighborhoods with small airports, other areas have tanked already 20-25%. So i would agree, site specific and i would think another 1.5year before we get a general rise in values.
True,some very dubious calls and that can't be denied. But that's a pretty biased summary of his career,he obviously made some good calls along the way too.
Depends are where you are. I know Pabst, whom I respect, will disagree with me, but I have buku respect for Robert Shiller, and if you look at the price curve of residential and commercial properties over the last 100 years, the last 8 have been insane and unprecedented, and if you just do a 50% retracement of those last 8 years, we're not even close to the bottom yet. It literally makes tulip mania look like a short, passing fad.