patrick.net

Worst in 50 years? I don't think so.Maybe in timbutu Oklahoma ..not in the Bay area. Quit whining all the time you guys and get to work. It is like you guys are trying so hard to WANT to have a terrible economy and market that you keep saying it OVER and OVER again trying to force it to be your way...then you can say see, see we were right! All markets go up and down, that is the nature of the economy we live in..duh?

You guys should see this as the Gretaest buying opportunity in Real Estae in 60 years! Wake up and get your head out of the sand. Buying is so much cheaper than renting now.

Moved this thread to Real Estate forum.

That article was written in Sept 2011.

No, it merely demonstrates that some people need to read more than the headline before posting. Then, they may actually notice that it's a year out of date.

Darrell In Phoenix says

It's still good news though.

Starve the beast.

What news would that be?

The national housing bubble is pretty much completely deflated as any cursory glance at inflation adjusted house prices shows. There are obviously still areas with inflated prices, but then there always are. How much they will decline if at all is the judgement call that people have to make. Where do you live by the way?

LIke Warren Buffet said...He likes to buy when there is Blood in the streets. ALso buy when no one else is buying...sell when everyone else is buying..Sounds like the current housinbg market. Time to buy guys?

mike2 says

You guys should see this as the Gretaest buying opportunity in Real Estae in 60 years!

LMFAO

Darrell In Phoenix says

The risk is massive and the losses are massive if you buy a house now.

AMEN!

mike2 says

LIke Warren Buffet said...He likes to buy when there is Blood in the streets. ALso buy when no one else is buying...sell when everyone else is buying..Sounds like the current housinbg market. Time to buy guys?

Warren Buffet's advice is to make him richer and you poorer.

Darrell In Phoenix says

Sorry my Phoenix Debtor but buying is 10% lower this year.

Doesn't it make more sense to use a graph for house sales rather than one showing rents in order to back up your claim?

I agree that using an old article to make a point isn't really proving much. Perfect case in point is when we started looking at buying a house in the Bay Area. All during last winter and even up until early Spring there was hardly activity at all. Houses were sitting around forever. Then by late spring is was suddenly absolutely nutty and its been that way ever since. At least here. Not sure about everywhere else. But in Sept 2011 sure- things were different here.

Bigsby says

No, it merely demonstrates that some people need to read more than the headline before posting. Then, they may actually notice that it's a year out of date.

The problem is still the same. 1 year did not fix it. Running some simple numbers it looks like more like 20 years of pain and suffering might calm the beast. Wait for it...

Darrell In Phoenix says

Bigsby says

Darrell In Phoenix says

Sorry my Phoenix Debtor but buying is 10% lower this year.

Doesn't it make more sense to use a graph for house sales rather than one showing rents in order to back up your claim?

That's all you have? You're running out of ducks and weaves.

And you're running out of lines.

RentingForHalfTheCost says

What Demand? Sales are horrible.

You must not have read the article. I'll post the first few sentences here to make it easy.

"The home-buying season was a bust.March through August are typically the peak buying months. But this time, Americans bought fewer new homes in that stretch than in any other six-month period since record-keeping began a half-century ago"

No Demand! Even at the post bubble prices, people still view things as overpriced. Hence no buyers at today's prices. Hence record low sales. I can break it down ever further if I lost you along the way.

The article is from 2011. Did YOU read the article?

robertoaribas says

RentingForHalfTheCost says

You must not have read the article.

says half a brain! the article is from 2011 dipstick!

days on market active listings phoenix metro:

Sept 2011 93.9

Aug 2012 68.9

median sales price aug 2012 147K

median sales price aug 2011 109K...

Yeah, looks real bad, if you look at the data upside down!

So, everything is fixed by a year. Wow, that was such a tough crisis. Lets see. Live like your house is an ATM machine for 2 decades and then wipe it all away in 1 year of doing absolutely nothing but printing money and waiting. Get a thought going in that head of yours. This train is not even close to slowing down. What you fixate on is a small pause. Wait for the main event, Wait for it...

Bigsby says

RentingForHalfTheCost says

What Demand? Sales are horrible.

You must not have read the article. I'll post the first few sentences here to make it easy.

"The home-buying season was a bust.March through August are typically the peak buying months. But this time, Americans bought fewer new homes in that stretch than in any other six-month period since record-keeping began a half-century ago"

No Demand! Even at the post bubble prices, people still view things as overpriced. Hence no buyers at today's prices. Hence record low sales. I can break it down ever further if I lost you along the way.

The article is from 2011. Did YOU read the article?

Wow, so 1 year fixed it all. I must have fell asleep. What a great job we did. Thanks everyone. Now I can back to investing in real estate. Incredible how easy that fix was.

robertoaribas says

RentingForHalfTheCost says

You must not have read the article.

says half a brain! the article is from 2011 dipstick!

days on market active listings phoenix metro:

Sept 2011 93.9

Aug 2012 68.9

median sales price aug 2012 147K

median sales price aug 2011 109K...

Yeah, looks real bad, if you look at the data upside down!

BTW, phoenix doesn't compare. When the average dwelling has a strong stench of dead carcass, broken windows, head imprint holes in the dry wall, and left over shringes and crack pips in the corners, I don't really care what some other fool is willing to pay for it.

RentingForHalfTheCost says

Wow, so 1 year fixed it all. I must have fell asleep. What a great job we did. Thanks everyone. Now I can back to investing in real estate. Incredible how easy that fix was.

Ah, yes, because that's what I said. Perhaps it would be better to address what was actually written rather than simply referring to your own script.

robertoaribas says

In fact, I bid on one today, and it got 20 offers in 48 offers, my full price cash offer rejected... because there are no buyers...

Yes, that's exactly what he said. Because, if the same group of 20 stupid people are walking around all the open houses in phoenix, and making offers on the same houses, and there are only these 20 buyers in all of phoenix, that's not too many buyers for the metropolitan city of phoenix. Even someone who is as dumb as roberto should understand that.

dunnross says

Yes, that's exactly what he said. Because, if the same group of 20 stupid people are walking around all the open houses in phoenix, and making offers on the same houses, and there are only these 20 buyers in all of phoenix, that's not too many buyers for the metropolitan city of phoenix. Even someone who is as dumb as roberto should understand that.

Why isn't there a face palm smilie for this site?
He already stated recent sales. Clearly, there are one or two more than 20 people buying houses in that part of the world. Even you should be able to understand that.