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House Prices Are Nowhere Near a Bottom, Says Analyst

By HousingBoom   Follow   Wed, 21 Nov 2012, 12:17am   7,984 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. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

   60   9:16pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   Patrick says users you have on ignore cannot comment on your threads. That's a cool feature, Patrick! I'll definitely sign up for the premium account!

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

   61   9:19pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   Done!

3. The Professor Follow Befriend (5) 24 threads 1,306 comments Premium

   62   9:20pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   Kevin says (we'll have even more up to date figures in January). Thats when one of both Iwog and Robertos' rentals is getting new tenants.

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

   63   9:20pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike (1)   Protected   Now I can put both Iwog the liar and Roberto the liar on my ignore list, and neither of them can write anything bad about me! Woopie!

5. The Professor Follow Befriend (5) 24 threads 1,306 comments Premium

   64   9:21pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   dunnross says Now I can put both Iwog the liar and Roberto the liar on my ignore list, and neither of them can write anything bad about me! Woopie! Where is the fun in that?

6. Mark D Follow Befriend 64 threads 487 comments Simi Valley, CA

   65   9:25pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   The Professor says dunnross says Now I can put both Iwog the liar and Roberto the liar on my ignore list, and neither of them can write anything bad about me! Woopie! Where is the fun in that? some people have mental problems (like that guy Darrel/war/liarwatch) so it's best to ignore them.

7. Kevin Follow Befriend 40 threads 2,652 comments

   66   9:29pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   dunnross says Now I can put both Iwog the liar and Roberto the liar on my ignore list, and neither of them can write anything bad about me! Woopie! Sure they can, you just can't see it.

8. The Professor Follow Befriend (5) 24 threads 1,306 comments Premium

   67   9:30pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   Mark D says some people have mental problems (like that guy Darrel/war/liarwatch) so it's best to ignore them. I am here for info and entertainment. By your logic I should probably ignore my buddy apocolypse. Where is the fun in that?

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

   68   9:30pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   > and users you have on ignore cannot comment on your threads. But Patrick promised!

10. SubOink Follow Befriend (3) 9 threads 704 comments Los Angeles, CA

    69   11:39pm Wed 21 Nov 2012   Share   Quote   Permalink   Like   Dislike   iwog says What can I say, I'm a sucker for troll bait. I am worse - I have lowered myself many times to his level of stubborn..."when you don't have a point, just repeat the old point again" - but its kinda fun...about once or twice a year

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

    70   11:41pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   iwog says You don't work with any trends And an 11 year bull market in PMs and a 6 year bear market in housing is not a trend, in your opinion? It is you who is not working with the trend, thinking that the trend has changed, just because we had 6 months of seasonal dead-cat bounce.

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

    71   11:43pm Wed 21 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   Do you even realize how dismal your odds of being correct when you go against the trend?

13. RentingForHalfTheCost Follow Befriend (8) 38 threads 2,024 comments Pleasanton, CA Premium

    72   7:48am Thu 22 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike (1)   Protected   iwog says 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. Come June, I'll have $400/mth that says your are wrong. Maybe more if things keep getting worse, which I don't see why it would change. Lots of people around me are losing their jobs, taking less paying jobs, and stressed to the limit to make the mortgage payment. Rents are going nowhere from here. Down is the only direction in my opinion and experience.

14. RentingForHalfTheCost Follow Befriend (8) 38 threads 2,024 comments Pleasanton, CA Premium

    73   7:52am Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)   Protected   iwog says http://www.ci.pleasanton.ca.us/pdf/het-agenda-110105-3-Sep%202010%20HC%20Item%208b%20rent%20vac%20survey.pdf Makes me laugh. "The city of Pleasanton housing commission". I bet their motto is "To release reports to the community to talk about how beautiful and prosperous our city is becoming. To promote home ownership in an effort to increase the tax base. Then use this increased revenue to offer bonuses and salary adjustments to all the members of the housing commission." Yah, no doctoring of the numbers from that place. All good there Iwog. Keep the shell game going.

15. RentingForHalfTheCost Follow Befriend (8) 38 threads 2,024 comments Pleasanton, CA Premium

    74   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.

16. iwog Follow Befriend (48) 274 threads 12,576 comments 47 male Lafayette, CA Premium

    75   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.

17. SubOink Follow Befriend (3) 9 threads 704 comments Los Angeles, CA

    76   3:54pm Thu 22 Nov 2012   Share   Quote   Permalink   Like   Dislike   RentingForHalfTheCost says 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 I am sure that there are individual examples out there that can prove any trend wrong. Sometimes you are at the right place at the right time. But let's stick to data that you can show. Links etc. Everything else is hear say. You can tell us that you now rent a 2Mill house for $500/month. I can't prove you wrong.

18. ELC Follow Befriend (3) 3 threads 657 comments Fort Lauderdale, FL

    77   6:03am Fri 23 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Patrick says Or -- become a premium user He's waiting for the Government to subsidise his user account as well.

19. Zakrajshek Follow Befriend 67 comments Chico, CA

    78   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!

20. iwog Follow Befriend (48) 274 threads 12,576 comments 47 male Lafayette, CA Premium

    79   8:41am Fri 23 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   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

21. iwog Follow Befriend (48) 274 threads 12,576 comments 47 male Lafayette, CA Premium

    80   11:39am Fri 23 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike (1)   Protected   Was there a conclusion you wanted to convey with that seeking alpha article? The only point that it makes is that population growth numbers might be off. Do you realize that the article said people living longer and increased immigration numbers may be causes for the numbers being TOO LOW or did you just not read it?

22. The Professor Follow Befriend (5) 24 threads 1,306 comments Premium

    81   12:12pm Fri 23 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   Zakrajshek says What's negative about a young family being able to afford a home that they were previously priced out of? Some investor is going to buy it up and rent to the "young family" at double the PITI.

23. RentingForHalfTheCost Follow Befriend (8) 38 threads 2,024 comments Pleasanton, CA Premium

    82   8:57am Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   iwog says 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. I don't look at data from sources where their salaries depend on the trend going in one particular direction. Sadly, in real estate most of the information released to the public is from such sources. I have my personal anecdote and that is fine with me. I am really the only one I would trust with my hard fought savings anyway. You stick to your slanted data analysis, and I'll stick to my real life experiences.

24. tatupu70 Follow Befriend (3) 15 threads 5,652 comments

    83   9:08am Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   RentingForHalfTheCost says I don't look at data from sources where their salaries depend on the trend going in one particular direction. Sadly, in real estate most of the information released to the public is from such sources. I have my personal anecdote and that is fine with me. I am really the only one I would trust with my hard fought savings anyway. You stick to your slanted data analysis, and I'll stick to my real life experiences. In other words--I'll stick my head in the sand and ignore anything that disagrees with my preconceived notions. Good luck with that.

25. Goran_K Follow Befriend (4) 25 threads 1,523 comments Laguna Beach, CA Premium

    84   9:11am Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   ELC says He's waiting for the Government to subsidise his user account as well. Gold. I can't believe I missed this gem. Patrick, this could be a new revenue stream.

26. RentingForHalfTheCost Follow Befriend (8) 38 threads 2,024 comments Pleasanton, CA Premium

    85   12:16pm Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   tatupu70 says RentingForHalfTheCost says I don't look at data from sources where their salaries depend on the trend going in one particular direction. Sadly, in real estate most of the information released to the public is from such sources. I have my personal anecdote and that is fine with me. I am really the only one I would trust with my hard fought savings anyway. You stick to your slanted data analysis, and I'll stick to my real life experiences. In other words--I'll stick my head in the sand and ignore anything that disagrees with my preconceived notions. Good luck with that. Yah, that is what it means. Trust is earned is the lesson here. No real estate organization has ever done anything to build my trust. So, I don't trust them or their reports. I do, however, trust my experience and judgement. Head in the sand or not. You can go on believing NAR like organizations all you want. You can even put your skin in the ponzi scheme and get burned. It really doesn't bother me. If anything, it gives me a good chuckle.

27. tatupu70 Follow Befriend (3) 15 threads 5,652 comments

    86   1:20pm Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   RentingForHalfTheCost says You can go on believing NAR like organizations all you want. I agree with distrusting NAR *opinions*. They are clearly biased. But distrusting *data* that is easily verifiable simply because the NAR compiled it is folly. You have to be able to separate data from opinion.

28. CDon Follow Befriend (1) 221 comments

    87   4:42pm Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   RentingForHalfTheCost says I don't look at data from sources where their salaries depend on the trend going in one particular direction. I would agree with that. However, given that the pleasanton data showed rent actually declining for several years, why do you find this data faulty as well?

29. David Losh Follow Befriend (2) 8 threads 1,138 comments Seattle, WA David Losh's website Premium

    88   6:14pm Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   This is another guy who has presented no data. If you want to look at his data it costs $99. From his interview he relies heavily on this phantom, shadow inventorty. The only thing he presents though is the difference between median hoising cost, and the cost per square foot. This is pure speculation on this guys part with no analysis.

30. David Losh Follow Befriend (2) 8 threads 1,138 comments Seattle, WA David Losh's website Premium

    89   8:05pm Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   War says Hows your construction biz You're so nutty. How's your construction business in all 48 States, at $60 per sq ft. BTW, how does that compare to what this guy is saying about price per square foot?

31. David Losh Follow Befriend (2) 8 threads 1,138 comments Seattle, WA David Losh's website Premium

    90   8:13pm Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   War says Just tell the truth Dave. I always do. My Bullshit Quotient is zero. Now stop lying, get your personalities straight, and if you have data. bring it.

32. David Losh Follow Befriend (2) 8 threads 1,138 comments Seattle, WA David Losh's website Premium

    91   8:22am Tue 27 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   You reposted a comment you made before? If you had any facts, figures, data, or disputes you'd post it.

33. David Losh Follow Befriend (2) 8 threads 1,138 comments Seattle, WA David Losh's website Premium

    92   8:44am Tue 27 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   The fact still remains you could have taken this opportunity to demonstrate some of your talking points, but you chose not to, so let me help you out. What this guy is saying is that the price per housing unit should be more homogenous, nationally. He ignores some data like wages, and economic growth in a region, but he still has a point. There is no reason for the number of housing units, which totals millions, that were built between 2003 to 2008 to be selling for the high prices they once commanded. We should see the price per housing unit fall like a rock. His second point, which you could have seized on is the price per square foot. You keep making construction cost claims across all 48 States as being some how equal, OK, there is some truth to that, so why do we have prices from $200 per sq ft to $600 per sq ft in the same area. The only problem I see with this guy is he wants to charge for his data. His analysis may be correct, but we won't know unless we pay him.

34. David Losh Follow Befriend (2) 8 threads 1,138 comments Seattle, WA David Losh's website Premium

    93   9:13am Tue 27 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   LiarWatch says You walked way out on a limb and pretended to be something you're not. What the heck are you talking about now? Why waste your entire morning with typing gibberish? You are the only one here that has pretended to be something you obviously are not. Bring data.

35. David Losh Follow Befriend (2) 8 threads 1,138 comments Seattle, WA David Losh's website Premium

    94   9:16am Tue 27 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   LiarWatch says You've been caught posting shit you know nothing of for so long you can't even remember.

36. David Losh Follow Befriend (2) 8 threads 1,138 comments Seattle, WA David Losh's website Premium

    95   9:32am Tue 27 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   LiarWatch says Here's a good example. So, you didn't read the thread, or click any of the links. That reference is to the Million Dollar Mike House by the Park. the team at Build LLC has been superb about following up with us and taking care of miscellaneous things that needed taking care of; things like fixing or replacing some door hardware, regrouting some cracked grout, and facilitating the replacement of a (gigantic!) defective pane of glass. Not only has everything been done quickly and efficiently, but almost as importantly, it’s been done happily. Team Build stands behind their work, and as has been the case from the beginning, they aren’t happy unless you are happy.

37. David Losh Follow Befriend (2) 8 threads 1,138 comments Seattle, WA David Losh's website Premium

    96   9:33am Tue 27 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   LiarWatch says Here's a good example. This is a very good example of how you, and your multiple personalities have brought nothing to the table, but trolling.

38. David Losh Follow Befriend (2) 8 threads 1,138 comments Seattle, WA David Losh's website Premium

    97   10:54am Tue 27 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   LiarWatch says you know NOTHING about contracting, estimating or construction You, rather than any one else, is the one who has made the claim of being a big time contractor. You were incapapble of keeping your comments straight so you fall back on your lack of data, knowledge, or ability to make a case in your comments. You took my comment that $150 per sq ft was a good deal for a home purchase in Seattle, in 2003, and turned it around to suit your own claims of being a contractor. You have yet to make a comment with any contracting ability, knowledge, or insight, but you continue on trolling.

39. David Losh Follow Befriend (2) 8 threads 1,138 comments Seattle, WA David Losh's website Premium

    98   1:48pm Tue 27 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   LiarWatch says You lied. This is kind of amusing that your avatar says stop lying when you have been caught so many times. You're the big time contractor, yet you have never made a post that made any sense concerning contracting, estimating, or construction.

40. David Losh Follow Befriend (2) 8 threads 1,138 comments Seattle, WA David Losh's website Premium

    99   1:50pm Tue 27 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   Wait a minute! Did you just run another thread into the ground, and I helped you? Shees.

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