im surprised to see … im surprised to see alot of building activity in 2008…whats goin to happen to all this commercial space, when the internet takes over the world.
Amen! How much … Amen! How much longer will people believe the propaganda… “they’re not making any more land”, “real estate never goes down”, “it’s different here”… lies, lies, lies, promoted by an industry WHO MAKES A COMMISSION off the sale.
I think we can do … I think we can do more than guess. Home builders are stuck in projects started 2 years ago, building at the same pace as 3 years ago while homeowners are trying to sell. That is going to create a glut that the bargain hunters and young buyers just cant work off. This will lead to a price drop, a rise in foreclosures for recently purchased homes, and less confidence in the market. Add that to a weakening economy and you have Japan’s housing market in 1990.
Not disagreeing … Not disagreeing with you about the general prognosis. I didn’t say things were in recovery – it may be a long time before we see reasonable appreciation again. Yet nobody really knows how long it will take or what “recovery” will look like – we can only guess. My company deals with current facts and these are telling us that that not every micro-market is going through such a hard time and some are even fairing quite well.
It’s a loosing bet … It’s a loosing bet for years to come and you know it. Home prices have not correlated with either building costs or population expansion since the early 90’s when baby boomer’s started buying their dream homes.
That story is over now and so is the 10% and 15% yearly gains in home values. Home prices will again have to reflect ACTUAL VALUATION before prices can move up again. In other words price will have to fall to levels we saw in the mid 90’s before the knife stops falling.
The majority of … The majority of real estate brokers are incredibly knowledgeable about their market, using statistics from their MLS system. My company, Trendgraphix, actually works with more than 150 brokers in 60 markets across the country to provide accurate, statistics for brokers and agents to help them provide the facts to their clients. Neither Realtors nor Brokers can lie about the facts. Even in hard hit areas, there are still micro markets that are doing well + signs of renewed activity.
I know I have read … I know I have read and heard but all I can say
is on my street one home went up this week and they will start construction on another home in the next couple weeks. People are starting to buy because of the bargains. My father works in an industry that takes orders for these things ans told me that these orders usually mean building. I am just offering whats going on here.
utubeuser1971aok, … utubeuser1971aok, you’re not fooling anyone. How are those ghost towns doing in california? You know, the ones that are filled with foreclosures? No one’s building new housing complexes. They built too many already.
You all will be … You all will be surprised we here in Northern California have housing being built in my neighborhood and lots of new business and you can tell by lumber orders which are higher. Font be so pessimistic it is the turn in the horseshoe. Good things are coming to the real estate market it is the only place people now who buy will stand to gain again. It will be the biggest shock of the year back to bubble popping prices!!!!
Say “Today is the … Say “Today is the day of my amazing good fortune!” ten times a day. I give thanks that the millions of dollars in negotiable currency which belong to me by Divine Right, now pour in and pile up under grace in perfect ways.
Get some skis and … Get some skis and pump some artificial snow on that downward slope.Its going to be a long ride down to the thirties! There will be a nice soup kitchen at the end though!Im making some safety nets to hang in wall street!!
To answer this … To answer this moron’s question at the end of the piece – Let me be FRANK -
YES, it would be a huge surprise if things turned around in 2008. The decline has only just begun after a nearly 20 year boom in prices. Plenty more downside to come……
Realty Times’ real estate outlook heading into 2008 – with some added visuals from www.southoctracker.com real estate blog.
March 19th, 2010 at 4:38 pm
It is getting worse …
It is getting worse watch 60 Minutes on Option ARMS
March 19th, 2010 at 4:38 pm
they are parisite …
they are parisite that probabily never owned real estate as an investment
March 19th, 2010 at 4:38 pm
Option ARMS, Don’t …
Option ARMS, Don’t believe the Media it lies
March 19th, 2010 at 4:38 pm
im surprised to see …
im surprised to see alot of building activity in 2008…whats goin to happen to all this commercial space, when the internet takes over the world.
March 19th, 2010 at 4:38 pm
you bet..
you bet..
March 19th, 2010 at 4:38 pm
I hate real estate …
I hate real estate agents…a buncha losers….every last one of them.
March 19th, 2010 at 4:38 pm
They’re nuts! Not …
They’re nuts! Not gonna happen anytime soon. The big lending and buying spree is over. Take your debt and…
March 19th, 2010 at 4:38 pm
Indeed. They are …
Indeed. They are deluded. This crap is going to take years to sort out.
March 19th, 2010 at 4:38 pm
Amen! How much …
Amen! How much longer will people believe the propaganda… “they’re not making any more land”, “real estate never goes down”, “it’s different here”… lies, lies, lies, promoted by an industry WHO MAKES A COMMISSION off the sale.
March 19th, 2010 at 4:38 pm
lol. I think people …
lol. I think people who believe this stuff are just stupid beyond their wildest imagination. Real estate… is negative ROI.
March 19th, 2010 at 4:38 pm
I think we can do …
I think we can do more than guess. Home builders are stuck in projects started 2 years ago, building at the same pace as 3 years ago while homeowners are trying to sell. That is going to create a glut that the bargain hunters and young buyers just cant work off. This will lead to a price drop, a rise in foreclosures for recently purchased homes, and less confidence in the market. Add that to a weakening economy and you have Japan’s housing market in 1990.
March 19th, 2010 at 4:38 pm
Not disagreeing …
Not disagreeing with you about the general prognosis. I didn’t say things were in recovery – it may be a long time before we see reasonable appreciation again. Yet nobody really knows how long it will take or what “recovery” will look like – we can only guess. My company deals with current facts and these are telling us that that not every micro-market is going through such a hard time and some are even fairing quite well.
March 19th, 2010 at 4:38 pm
It’s a loosing bet …
It’s a loosing bet for years to come and you know it. Home prices have not correlated with either building costs or population expansion since the early 90’s when baby boomer’s started buying their dream homes.
That story is over now and so is the 10% and 15% yearly gains in home values. Home prices will again have to reflect ACTUAL VALUATION before prices can move up again. In other words price will have to fall to levels we saw in the mid 90’s before the knife stops falling.
March 19th, 2010 at 4:38 pm
100% agree with you
100% agree with you
March 19th, 2010 at 4:38 pm
The majority of …
The majority of real estate brokers are incredibly knowledgeable about their market, using statistics from their MLS system. My company, Trendgraphix, actually works with more than 150 brokers in 60 markets across the country to provide accurate, statistics for brokers and agents to help them provide the facts to their clients. Neither Realtors nor Brokers can lie about the facts. Even in hard hit areas, there are still micro markets that are doing well + signs of renewed activity.
March 19th, 2010 at 4:38 pm
Getting opinions …
Getting opinions from a builder and a realtor… 2 people who only make money when homes sell! They are both wishfull thinkers!
March 19th, 2010 at 4:38 pm
is this from “The …
is this from “The Onion” ?
March 19th, 2010 at 4:38 pm
I know I have read …
I know I have read and heard but all I can say
is on my street one home went up this week and they will start construction on another home in the next couple weeks. People are starting to buy because of the bargains. My father works in an industry that takes orders for these things ans told me that these orders usually mean building. I am just offering whats going on here.
March 19th, 2010 at 4:38 pm
utubeuser1971aok, …
utubeuser1971aok, you’re not fooling anyone. How are those ghost towns doing in california? You know, the ones that are filled with foreclosures? No one’s building new housing complexes. They built too many already.
March 19th, 2010 at 4:38 pm
You all will be …
You all will be surprised we here in Northern California have housing being built in my neighborhood and lots of new business and you can tell by lumber orders which are higher. Font be so pessimistic it is the turn in the horseshoe. Good things are coming to the real estate market it is the only place people now who buy will stand to gain again. It will be the biggest shock of the year back to bubble popping prices!!!!
March 19th, 2010 at 4:38 pm
Say “Today is the …
Say “Today is the day of my amazing good fortune!” ten times a day. I give thanks that the millions of dollars in negotiable currency which belong to me by Divine Right, now pour in and pile up under grace in perfect ways.
March 19th, 2010 at 4:38 pm
Get some skis and …
Get some skis and pump some artificial snow on that downward slope.Its going to be a long ride down to the thirties! There will be a nice soup kitchen at the end though!Im making some safety nets to hang in wall street!!
March 19th, 2010 at 4:38 pm
Does anyone expect …
Does anyone expect an honest statement from “Realty Times”? What a joke.
March 19th, 2010 at 4:38 pm
To answer this …
To answer this moron’s question at the end of the piece – Let me be FRANK -
YES, it would be a huge surprise if things turned around in 2008. The decline has only just begun after a nearly 20 year boom in prices. Plenty more downside to come……
You at “Realty-Times” are making a VERY BAD BET!
Stick to the facts!
March 19th, 2010 at 4:38 pm
LOL…..
Didn’t …
LOL…..
Didn’t your mother teach you not to lie ?