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bmwman91
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2012 Dec 13, 3:55am
Bruce's analysis seems reasonable. Nobody ever said that a woefully unhealthy RE market only involves price declines!
bmwman91
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2012 Dec 13, 4:05am
20% sounds like bubble talk to me.
Is anyone seriously denying that we are heading right into the next one? Wildly different mechanisms, same effects on pricing as last time. Hell, Obama and Bernanke have openly stated that their goal is to "recover" housing prices via policy.
Goran_K
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2012 Dec 13, 4:11am
Is anyone seriously denying that we are heading right into the next one? Wildly different mechanisms, same effects on pricing as last time. Hell, Obama and Bernanke have openly stated that their goal is to "recover" housing prices via policy.
Could be. Not sure how they will do it though unless they literally do 0% interest loans.
Inflating a bubble with the economy of the late 90s is a bit different than inflating a bubble in 2012. I mean, this isn't their first attempt. They tried in 2009, 2010, and 2011. For the most part, prices have been flat. We're still at 2010 in OC prices and we're down to 1 months inventory. Not exactly what I'd expect as a precursor to a bubble.
Private banks aren't stupid, normal buyers are timid. Investors/speculators, continue buying by all means. :)
Goran_K
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2012 Dec 13, 4:12am
affordable sonoran desert paradise that is Phoenix...
Roberto, what are the popular hangout spots for families in Phoenix?
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http://www.thenorrisgroup.com/index.php?cID=714
If you never heard of these guys you are not a RE investor in CA. They are medium sized flippers/hard money lenders. They put $ where mouth is. You can even invest in notes through them so of course they are talking their book but all data indicates upward prices.
Im going with his prediction - which will vary wildly from inland ghetto to 'good schools' (racist codeword) areas.