Posted on 09/13/2006 7:31:40 AM PDT by Hydroshock
Half the farms were in the rears? Was this San Francisco county? It must have hurt to sit down with a farm in the rear. No wonder why farmers were depressed.
This thread is getting extremely gay.
It's getting "Village People" gay.
That's pretty gay.
I think he's predicted seven of the last zero depressions.
That's right...and the guy who says I'm gonna die today, is gonna be right, one of these days if he talks long enough.
Solidly misleading. Just look at this article trying to strike fear by saying how foreclosures are up 255% in California. Well, because of rapidly rising home values and low interest rates, foreclosures were practically non-existant. Even with this 255% gain, foreclosures are still well below the historical average. They do the same thing with home sales and inventories. Sure inventories are up, but they were at historic lows where homes sold as soon as they were put on the market. Now they are just at normal levels. Hydroshock and ex-Texan only tell half the story and present the data to make it as scary as possible, without putting any historical context to the numbers. We just went through 5-years of the most rapidly growing housing market ever. Of course sales are going to slow. It is just a big DDDUUUUHHHHH.
An excerpt:
"Can't say I'm sorry to see it go because it's getting ridiculous with all the cr*p listings from around the country.... but is it true, on other sites too?
http://monterey.craigslist.org/rfs/206632813.html
So sad...
Spam kills Monterey's real estate Craigslist.
Due to overwhelming spam postings, Craigslist will no longer offer real estate listings as of September 30th, 2006.
this is in or around Monterey Bay no -- it's NOT OK to contact this poster with services or other commercial interests
____________
In short, sellers and real estate brokers are getting desperate out there. You heard it here first . . .
Or craig's list offered realtors a cheap form of advertizing that they took advantage of. But you are stuck in this gloom and doom mentality so you always see the worst scenerio.
4 years ago. LOL!!
You should provide data that show how real estate markets always flatten, rather than overshoot the downtrend toward the historical mean in corrections, which is what you seem to be positing. Can you find that data? Until you can, I see you as a real estate industry shill. I'll be waiting for your researched response.
That is one durable bubble. What's it made of, cast iron?
Nationally, housing prices have always gone up, outside of the recession in the early 80's which saw a modest decline in housing prices for a period of about two years. The FDIC has performed the most thorough study booms and bust in metropolitan areas since 1973. Here is an excerpt from the study:
So, must a bust always follow a boom? Based on our look at history, our answer must be "no." Only infrequently do home price booms lead to busts, at least by our criteria. According to the evidence in Table 1, in just 9 of 54 unique boom episodes prior to 1998, or roughly 17 percent of all such events, did a bust subsequently occur within a five-year window. Clearly, the lion's share of home price booms have not ended in busts historically.
and further in the study:
If it is relatively rare for housing booms to result in a price bust, how do booms usually end? Our look at history suggests that stagnation in home prices is often the most likely outcome. Of the 54 boom episodes prior to 1998, 45 did not see a subsequent bust. In these cases, nominal home prices rose by an average of 2 percent per year during the five years after the boom ended.
Until you can, I see you as a real estate industry shill. I'll be waiting for your researched response.
A relative newbie calling me a shill. Too funny. I am not shilling for anything. Just calling the bull crap these clowns post in here on a daily basis for what it is. Why aren't you cynical of their motives. They are the ones posting daily articles fear-mongering about the housing bubble.
Oh, I see, you are just a predator hoping to make a fortune off the misfortune of others. I was just wasting my time trying to show you the facts, you are already firmly in the chicken little category. In fact you are even worse than that. You are hoping misfortune on to others. Truely a sick individual.
Well, it's here now. Have a nice winter and the winter after that,and the next, because SMART buyers WON'T be buying until prices are at LEAST 30% of what you are asking now.
LOL, in other words you will never be buying. Housing prices just don't fall like that outside a major economic downturn. But you just keep holding your breath waiting for that 30% decline.
"That is one durable bubble. What's it made of, cast iron?"
Watched it inflating, watching it deflating. It's been a few years, yes. What's it made of? Greed, cheap money, reckless lending, disconnected fundamentals, mania, lack of historical perspective...
So far the 'deflating' has been slow growth. Hardly the bubble bursting as been the cry of the fear-mongers for the last 4 years now.
That's not what he said.
WON'T be buying until prices are at LEAST 30% of what you are asking now.
He's waiting for a 70% decline.
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