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House Prices Are Nowhere Near a Bottom, Says Analyst


By HousingBoom   Follow   Tue, 20 Nov 2012, 4:17pm PST   12,128 views   110 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

APOCALYPSEFUCKisShostikovitch   Wed, 17 Jul 2013, 9:40pm PDT   Share   Quote   Permalink   Like (14)   Dislike     Comment 1

1 8:23pm Tue 21 Feb 2012 Share Quote Permalink Like (25) Dislike Edit Protected

If you put enough arm into it, any dead cat will bounce, even appearing lively for a moment as it leaves the sidewalk.

When an entire industry is vested in making the dead cat appear convincingly vital, really anything can happen for a month or two.

When the whole federal government has thrown everything it and the Wall Street psychopaths can muster to keep the bubble inflated, the cat may even blink momentarily.

You know it.

I know it.

The market is fucking toast.

The cleansing Cannibal Anarchy is inevitable.

swebb   Wed, 21 Nov 2012, 10:14am PST   Share   Quote   Permalink   Like (4)   Dislike     Comment 2

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.

iwog   Thu, 22 Nov 2012, 1:50am PST   Share   Quote   Permalink   Like (4)   Dislike     Comment 3

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.

Zakrajshek   Fri, 23 Nov 2012, 12:17am PST   Share   Quote   Permalink   Like (4)   Dislike     Comment 4

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!

RentingForHalfTheCost   Wed, 21 Nov 2012, 6:07am PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 5

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.

iwog   Wed, 21 Nov 2012, 8:22am PST   Share   Quote   Permalink   Like (3)   Dislike (1)     Comment 6

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.

iwog   Wed, 21 Nov 2012, 8:26am PST   Share   Quote   Permalink   Like (3)   Dislike (1)     Comment 7

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.

iwog   Wed, 21 Nov 2012, 9:23am PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 8

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.

dunnross   Wed, 21 Nov 2012, 12:05pm PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 9

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.

dunnross   Wed, 21 Nov 2012, 1:12pm PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 10

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?

RentingForHalfTheCost   Wed, 21 Nov 2012, 11:58pm PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 11

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.

iwog   Fri, 23 Nov 2012, 12:41am PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 12

Billybigrig says

Shills do what shills do best , attempt to mislead the general "sheeple" public
http://www.npg.org/facts/world_pop_year.htm

World population? LOL

http://www.google.com/publicdata/explore?ds=kf7tgg1uo9ude_&met_y=population&idim=country:US&dl=en&hl=en&q=united+states+population

iwog   Wed, 17 Jul 2013, 9:36pm PDT   Share   Quote   Permalink   Like (2)   Dislike     Comment 13

HousingBoom says

House Prices Are Nowhere Near a Bottom, Says Analyst

Numbers don't lie!!!

I guess numbers do lie.

APOCALYPSEFUCKisShostikovitch   Wed, 17 Jul 2013, 9:44pm PDT   Share   Quote   Permalink   Like (2)   Dislike     Comment 14

iwog says

Go to bed.

Started work two hours ago. Day's well underway now.

APOCALYPSEFUCKisShostikovitch   Thu, 18 Jul 2013, 8:43am PDT   Share   Quote   Permalink   Like (2)   Dislike     Comment 15

hrhjuliet says

APOCALYPSEFUCK is Shostakovich says

1 8:23pm Tue 21 Feb 2012 Share Quote Permalink Like (25) Dislike Edit Protected

If you put enough arm into it, any dead cat will bounce, even appearing lively for a moment as it leaves the sidewalk.

When an entire industry is vested in making the dead cat appear convincingly vital, really anything can happen for a month or two.

When the whole federal government has thrown everything it and the Wall Street psychopaths can muster to keep the bubble inflated, the cat may even blink momentarily.

You know it.

I know it.

The market is fucking toast.

The cleansing Cannibal Anarchy is inevitable.

True. I don't know about the cannibal part, but everything else is honest and straight to the heart of it. I agree Mr. Shostakovich.

Well, it is something you'll understand when a starving neonazi cannibal that hasn't ever known a paycheck is climbing through the window and bites your face.

Thank you, Mssr Hrh.

Kevin   Tue, 20 Nov 2012, 5:41pm PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 16

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.

RentingForHalfTheCost   Wed, 21 Nov 2012, 8:38am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 17

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.

RentingForHalfTheCost   Wed, 21 Nov 2012, 8:48am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 18

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.

Bellingham Bill   Wed, 21 Nov 2012, 8:55am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 19

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

iwog   Wed, 21 Nov 2012, 8:56am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 20

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

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