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TechGromit
2012 Oct 5, 11:47am
Not to call anyone out, but TechGromit bought in early – and stuck around to talk of both the pros and the cons of his experience. I’ll do my best to stick around no matter how this plays out for me personally – but the daily drivel is getting old.
I still pop in now and again, but the best days of patrick.net seem to be behind it. There's not a lot her to peak my interest anymore. The housing collapse is old news, I've tried to give my opinion that the worse is behind us, but I seem to get over whelmed by oppose opinion responses with no facts to back up there position. I used to spend a lot of time writing my posts, searching for links to sources to backup up my position. I spend most of my posting time on City Data forums now, same user name.
Oh and you can say what you want about BearMarket, but in the end it turns out he was RIGHT. He used to say the housing market is going to drop at least 50% and we all called him crazy, we couldn't see more than 20 to 25% drop in prices. In some markets his predictions were conservative.
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Where have all the smart people gone?
I used to read the forum daily for intelligent discussion and debate. Now, I don’t do that nearly as much – when I do stop by, I find myself wading through pages of unsubstantiated claims and idiotic name calling.
It used to be we had one dude, bearmarket, who was disconnected from reality. Now we have a half dozen or more. Jus as prices could not continue to rise above inflation ad infinitum, in most of our major urban areas (Bay area, so. Cal, NYC, Boston, Chicago, etc.) prices will not plummet from here on out. 1) There are limits to the amount that things will overcorrect on the down side of a boom bust cycle 2) the powers that be are doing their best to putt an artificial floor on prices creating conditions that generate low mortgage rates – so far they have succeed in this – far better than I would have expected.
Is now a good time to buy? Depends on your location, income, job security, and the cost of the alternative. Some will buy and be fine. Some will by and get burned. Some areas will see moderate price declines, some still will see sever drops. Others very well may have bottomed out and are finally on the long slow road to recovery.
I don’t have a crystal ball… but I know that reason and logic usually prevail.
All of the noise around here is getting old. I miss the good old days of informed debate and discussion.
#housing