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House Prices Are Nowhere Near a Bottom, Says Analyst

By HousingBoom   Follow   Wed, 21 Nov 2012, 12:17am   7,954 views   99 comments
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Numbers don't lie!!!

http://www.cnbc.com/id/49436858/?fb_action_ids=552912418057720&fb_action_types=og.recommends&fb_ref=s%3DshowShareBarUI%3Ap%3Dfacebook-like&fb_source=timeline_og&action_object_map=%7B%22552912418057720%22%3A306426616129186%7D&action_type_map=%7B%22552912418057720%22%3A%22og.recommends%22%7D&action_ref_map=%7B%22552912418057720%22%3A%22s%3DshowShareBarUI%3Ap%3Dfacebook-like%22%7D

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1. swebb Follow Befriend (3) 29 threads 489 comments Denver, CO

   1   6:14pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (4)   Dislike   iwog says It's just another one of your fabrications. We know you all too well. You got me there! I fabricated the definition of speculator on Investopedia to make you look bad. IWOG, for the love of god, click the "Ignore" link on this idiot. He isn't interested in intelligent debate, seeking truth, or as far as I can tell anything worthwhile. I ignored him and it's fantastic. I only see his posts when a) he is the original poster, b) someone responds to his idiotic posts. People like him detract from / dilute the value of the forums. If we could just get more people to click the ignore link it would make this a better place.

2. iwog Follow Befriend (48) 272 threads 12,446 comments 47 male Lafayette, CA Premium

   2   9:50am Thu 22 Nov 2012   Share   Quote   Permalink   Like (4)   Dislike   Protected   RentingForHalfTheCost says Yah, no doctoring of the numbers from that place. All good there Iwog. Keep the shell game going. Always the same thing isn't it. Your total lack of data, your compelling vacuum of no information whatsoever, (other than your claimed personal anecdote) will always trump every study that anyone else brings to the table. Pretty standard with you isn't it.

3. Zakrajshek Follow Befriend 67 comments Chico, CA

   3   8:17am Fri 23 Nov 2012   Share   Quote   Permalink   Like (3)   Dislike   Why is it that when house prices drop, the media always reports this as a negative thing? (I think this article referred the declines of the past 5 years as "horrible") I would say the declines of the past five years have been "wonderful." What's negative about a young family being able to afford a home that they were previously priced out of? Nothing!

4. RentingForHalfTheCost Follow Befriend (8) 38 threads 1,996 comments Pleasanton, CA Premium

   4   2:07pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   Protected   The Professor says Housing inventories are at record lows, mortgage rates are at or near record lows, consumer confidence is rising steadily, underwater mortgages have fallen dramatically, foreclosures and short sales are shrinking and prices of these homes are rising steadily. Add in the fact that the Gen Xs and Gen ys are finally leaving their parents' homes and you will find that prices are rising steadily in almost every major market area. Slightly rewritten to be closer to reality. Housing inventories are at record lows, mortgage rates are at record lows, consumer confidence is still relatively low, banks are still playing games with foreclosure and short sale data and prices are barely holding steady. Gen X and Y's are without work and have no desire or means of entering into the real estate market. Shared renting is the new norm and will be for at least a decade for many.

5. iwog Follow Befriend (48) 272 threads 12,446 comments 47 male Lafayette, CA Premium

   5   4:22pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (3)   Dislike (1)   Protected   Darrell In Phoenix says It's just another one of your fabrications. We know you all too well. You got me there! I fabricated the definition of speculator on Investopedia to make you look bad.

6. iwog Follow Befriend (48) 272 threads 12,446 comments 47 male Lafayette, CA Premium

   6   4:26pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (3)   Dislike (1)   Protected   Darrell In Phoenix says Your fabrications make you look bad and you alone. I know. I was agreeing with you. My nefarious plot to change the definition of "speculator" on Investopedia to define it as a type of investor was discovered and I now hang my head in shame. I'll change it back as soon as I can figure out how.

7. iwog Follow Befriend (48) 272 threads 12,446 comments 47 male Lafayette, CA Premium

   7   5:23pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   Protected   Darrell In Phoenix says iwog says I've seen your old data Wrong again. It's 2012 data. It's 1st quarter 2012 data you twit comparing rental rates to 1st quarter 2011.

8. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

   8   8:05pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   Protected   The thing I can't understand is how can Iwog and Roberto the Realtor both claim that investors are going to buy up all the houses in the country to rent them out, and still state that rents are rising in the same sentence. These 2 guys have lied so much, that they are now stepping on their own tongues.

9. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

   9   9:12pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   Protected   iwog says I said unless you're willing to examine WHY you were wrong So, have you examined why you were wrong about silver, yet?

10. RentingForHalfTheCost Follow Befriend (8) 38 threads 1,996 comments Pleasanton, CA Premium

    10   7:58am Thu 22 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   Protected   Just talked to my landlord yesterday. A call I initiated. He is open to a rent reduction and also asked me to consider buying the place. Seems like he finally is realizing there is more money in selling rather than collecting rents. I told him I wouldn't be a buying at today's appraisals. So, I am probably going to lock in for another years of leases soon at a reduced rate. Probably down about $400. So, instead of $3000, I would be paying $2600. The selling price would be upwards of 1.1m. You do the math. Don't believe all the junk thrown on this site from the housing pumpers, do you own homework. There are great opportunities for those that don't want to just follow the herd.

11. Kevin Follow Befriend 40 threads 2,652 comments

    11   1:41am Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   ProTip: Whenever someone makes claims, google their name and limit the time range to 2000-2010. Compare what they wrote in that period to reality. Mr. Jurow's track record is very poor based on the three original articles I can find that he wrote in that period. Ask yourself if someone is telling you new data or simply saying what you want to hear.

12. RentingForHalfTheCost Follow Befriend (8) 38 threads 1,996 comments Pleasanton, CA Premium

    12   4:38pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   iwog says Therefore there would be no one left to sell We are getting there. The smart/lucky already sold. The followers are stuck or have lost their homes already. End result - no sellers, only debt payers for life.

13. RentingForHalfTheCost Follow Befriend (8) 38 threads 1,996 comments Pleasanton, CA Premium

    13   4:48pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   iwog says All I see around me are rising rents and investors who don't care if prices stay low for 100 years. Rents are falling around me. I'm considering asking for a rent reduction when my lease is up for renewal. There are 2 houses that I have seen in the last week that have way lower rents than I saw just 4 months ago. People are hurting. Not sure what ground you are talking about. Not the stuff I'm walking on.

14. Bellingham Bill Follow Befriend 29 threads 1,473 comments Bellingham, WA Premium

    14   4:55pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   Darrell In Phoenix says Rental rates are falling. And so are prices. Yep. Even in the bay area. The cost of shelter, which includes rents, rose 0.3 percent, the most in more than four years. Rental vacancies have declined in recent months, pushing rents higher http://www.insidebayarea.com/financial-markets/ci_22001696/us-consumer-prices-tick-up-rental-costs-rise

15. iwog Follow Befriend (48) 272 threads 12,446 comments 47 male Lafayette, CA Premium

    15   4:56pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   RentingForHalfTheCost says Rents are falling around me. I'm considering asking for a rent reduction when my lease is up for renewal. There are 2 houses that I have seen in the last week that have way lower rents than I saw just 4 months ago. People are hurting. Not sure what ground you are talking about. Not the stuff I'm walking on. This is simply not true at all and I have multiple sources that prove your personal experience is not typical. Rents are increasing, have been increasing since 2009, are near all time highs, and have increased the most during 2012. http://www.cassidyturley.com/Research/MarketReports/Report.aspx?topic=Alameda_County_Apartment_Q1_2012_Market_Report&action=download

16. Bellingham Bill Follow Befriend 29 threads 1,473 comments Bellingham, WA Premium

    16   4:58pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   iwog says The practice is that investors will never let housing fall below a certain threshold when rents are paying the mortgage plus a profit. Do I need to quote Warren Buffett again? the only way rents could fall is if the government goes hardball on raising taxes and/or cutting spending on/for the middle class. I can shake the magic 8 ball but not see an answer here. The singularity is the debt limit fight coming early next year, plus of course what new bullshit the system vends about the expiring tax cuts. I wouldn't bet against more bullshit though. That's the #1 product in this country now.

17. Kevin Follow Befriend 40 threads 2,652 comments

    17   5:09pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Darrell In Phoenix says iwog says The time to buy was 2008-2009. Only if you ignore the 20-30 million excess empty houses in inventory. You're arguing that 30%+ of all houses are empty. You are either just making shit up, or are you confusing the term "owner occupied" with "occupied" (hint: non-owner occupied means "rental")

18. SubOink Follow Befriend (3) 9 threads 703 comments Los Angeles, CA

    18   5:10pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Darrell In Phoenix says Rents are falling. Nope they are not. LOOK AROUND.

19. iwog Follow Befriend (48) 272 threads 12,446 comments 47 male Lafayette, CA Premium

    19   5:20pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   Darrell In Phoenix says Sorry. I've seen your old data. All you did was show rents dropped in 2011, not 2012. You have a nasty habit of posting old articles and claiming they represent current news.

20. iwog Follow Befriend (48) 272 threads 12,446 comments 47 male Lafayette, CA Premium

    20   6:26pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   swebb says IWOG, for the love of god, click the "Ignore" link on this idiot. He isn't interested in intelligent debate, seeking truth, or as far as I can tell anything worthwhile. I ignored him and it's fantastic. I only see his posts when a) he is the original poster, b) someone responds to his idiotic posts. People like him detract from / dilute the value of the forums. If we could just get more people to click the ignore link it would make this a better place. Literally LOL here. What can I say, I'm a sucker for troll bait. Sometimes as in this instance however it's almost worth it. Sorry Darrell, it's time for you to go. Swebb is right.