| iwog 
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Registered Nov 10, 2007
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iwog's most recent comments:
- On 16 Jun 2013
in
Time to Buy a House? Not on your life!,
iwog said:
donjumpsuit says
1. Housing is at peak levels, will continue to rise, perhaps another 33%.
This is the correct answer. I'd guess you've got a bare minimum of 3-4 years of appreciation and possibly as many as 8. Unfortunately we're in a bubble economy and the possibility of a new crash is always there.
The conditions that drove the 2006 peak do NOT exist anymore. Financing is difficult and appraisers are scared. The future of the United States housing market will resemble Canada so if anyone wants to know where things are headed, just look at their numbers. - On 15 Jun 2013
in
Time to Buy a House? Not on your life!,
iwog said:
bmwman91 says
Housing costs in the rest of the world are a much higher percentage of people's income than they are here, and I think that this is part of a greater change in the system where Americans are going to end up living like people in most of the rest of the industrialized world (aka less disposable income).
Finally someone who gets it. - On 15 Jun 2013
in
Time to Buy a House? Not on your life!,
iwog said:
mtw says
They should know that current prices are not supported by fundamentals, but by unprecedented manipulation by the Fed, the Obama administration, Wall Street Private Equity investors, and the nation's biggest banks. If any of these main-players withdraws or even reduces their support for the market (in other words, if the banks release more of their distressed inventory, if rates rise, if PE firms buy fewer homes, or if the Congress curtails current mortgage modification programs), housing prices will fall.
It's sad that so many people believe this. Every market cycle consumers get fleeced because so called experts play the scary monster card.
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