patrick.net

whenever there is a buying mania it's a safe bet to say that there is another bubble in the making... the current buying mania is reminiscent of the heady days of 2004, it definitely does not signify normal sustainable demand.

These are investors trying to make a quick buck gambling that prices will rise OR buyers on the fence thinking they will be priced out forever if they don't act now. We have seen both groups in the bubble that elapsed and we know what happened to the market after that.

Call it Crazy, small favor if possible, but could you stop quoting tatupu70? I originally ignored him because he was turning a lot of threads into bull vs bear troll arguments, I'm not saying his points aren't valid for consideration, but I'm trying to cut down on the clutter so I can read non-emotional-troll post. But since you've been quoting him it's like the arguments are starting all over again.

I think you add a lot to the discussions here, but the petty arguments get tiresome.

Goran_K says

I'm not saying his points aren't valid for consideration, but I'm trying to cut down on the clutter so I can read non-emotional-troll post. But since you've been quoting him it's like the arguments are starting all over again.
I think you add a lot to the discussions here, but the petty arguments get tiresome.

Yes, it's much easier to read posts from only those who agree with you.

Unfortuntately, you'll find that you will be caught off guard quite frequently.

http://en.wikipedia.org/wiki/Groupthink

Call it Crazy says

Sorry, I keep telling myself to ignore him but then he states something nuts

Really? Something nuts? Could you please show me one example of anything I've said that could be possibly be interpreted as "nuts"?

Call it Crazy says

I think you're confused.. a link is what I just posted in the Reuters article above.... we haven't seen links from you, just spout-offs...

really?

Do these posts look familiar?

/?p=1213340#comment-834135

/?p=1213195#comment-832721

/?p=1213371#comment-834796

If there's something I post with no backup, just ask for a source. I'll be happy to post it.

http://www.lasvegassun.com/news/topics/real-estate/

I think that there are two housing markets. One for rich investors and one for the average home buyer. On many occasions I have looked at Redfin and have seen great homes sold for very low prices. But I suspect that the good deals primarily going to investors, realtors, or others that have an in on the market. The banks will except a low cash offer from and investor before excepting a higher priced offer from an average person with traditional financing. So looking back at the data may show lower priced homes but it most likely was sold to someone with cash. Meanwhile the rest of us home buyers are left competing for the high priced flipped homes. It just not fair :(

Carolyn C says

I think that there are two housing markets. One for rich investors and one for the average home buyer.

Rich people don't see housing as an investment. If they did, they wouldn't be rich in the first place.

If real-estate is an investment, it's one that pays negative dividends in the form of property taxes, insurance, and maintenance. Do you want an investment that pays negative dividends? I do not.

Oh, so there are not investors buying up homes?

Carolyn C says

Oh, so there are not investors buying up homes?

I have no idea. Are they planning on becoming landlords? Or are they just speculating?

If the flood ever comes it won't reach the MLS for would be buyers, they will be scooped up at auctions. You will know when listing starts popping up after being acquired by investors at the auctions.