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Is the 2012 dead cat bounce fading like the days of summer?
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2012 Aug 11, 6:00pm 23,783 views 53 comments
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Goran_K
2012 Aug 17, 8:30am
redfin and zillow data are all crap..
Redfin is just a time delayed mirror for the MLS. You do know that right?
dunnross
2012 Aug 17, 11:55am
redfin and zillow data are all crap.
Is that the same crap you used last month, when you were foaming at your mouth trying to prove to us that prices were going up in phoenix? Or is this the kind of crap which doesn't stink in your and our neck of the woods?
Bigsby
2012 Aug 17, 1:23pm
redfin and zillow data are all crap.
Is that the same crap you used last month, when you were foaming at your mouth trying to prove to us that prices were going up in phoenix? Or is this the kind of crap which doesn't stink in your and our neck of the woods?
And all the while, price/square foot is falling in Phoenix.... like everywhere else in the country.
Why buy now when you can buy for 95% less... presumably. Or something.
B.A.C.A.H.
2012 Aug 17, 3:04pm
dips**t
another stupid person
Sounds real professional all right, Doctor Professor!
RentingForHalfTheCost
2012 Aug 17, 3:15pm
Why buy now when you can buy for 95% less... presumably. Or something.
Personally, I'm waiting till prices fall 150% more!
You can in fact lose 150% of your initial investment. I know people who have. Real estate can bite hard when it turns on you. Not saying it has or will for you, but it has for many in the BA.
FortWayne
2012 Aug 17, 4:25pm
Without fundamental recovery all this marketing by RE is just gimmicks.
I expect long slow further declines...money isn't there simply. Pretend can only last so long before ultimate liquidation.
RentingForHalfTheCost
2012 Aug 19, 7:22am
the real BA, not Concord
You can BART to SF, so it's real.
real shitty, sure. ;)
robertoaribas,
How is the weather? 110 degrees 9 days in a row.
I wonder if people buy house during that time.
lostand confused
2012 Aug 19, 7:57am
Without fundamental recovery all this marketing by RE is just gimmicks.
I expect long slow further declines...money isn't there simply. Pretend can only last so long before ultimate liquidation.
Freedom 1789-2012
Unless of course we end up like Zimbabwe or early last century Germany. The every shack will be worth trillions of dollars.
dunnross
2012 Aug 19, 9:00am
Unless of course we end up like Zimbabwe or early last century Germany. The every shack will be worth trillions of dollars.
We will definitely not wind up like Zimbabwe any time soon. We will most likely wind up like Japan of the last 20 years. Fed has only printed 2.5T so far. They need to print another 10T, at least, just to get all the banks out of hock. Only then, we can talk about any kind of inflation. Basically, the private debt needs to go back to 0, and it's nowhere even close, now. So, all you housing bulls out there - you can dream and salivate all you want at the prospect of housing market improving, but it ain't gonna happen.
tatupu70
2012 Aug 19, 10:09am
the only way you break even or make money is appreciation of the aging wood and nails. Good luck with that.
The wood and nails don't appreciate. It's the land underneath them...
tatupu70
2012 Aug 19, 11:07am
Considering "land" can be picked up in all 48 contiguous states for under $800/acre, you're still deluded.
Sure--just not the land I'd want to live on.
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Intrigued by a comment made by dunnross yesterday:
Goran_K says
That tells me that the Phoenix bull trap is starting to fade, but I suppose we'll see what happens to prices more concretely this winter.
dunnross says
The fact that this was a bull trap and it is now over is more than obvious in places like Palo Alto, where asking prices are already down more than 20% since this summer.