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Why the Housing Market is Three Times Worse Than You Think
http://realestate.yahoo.com/promo/why-the-housing-market-is-three-times-worse-than-you-think.html
Between the recent report that sales of new homes hit a record low in February and this week's news that 19 of the 20 largest metro areas tracked by the Standard & Poor's/Case-Shiller home price index saw a price slump in January, it hasn't exactly been a stellar few weeks for the housing market. And yet another data dump tracking foreclosed and distressed homes that have yet to hit the markets - what's known as "shadow inventory" - suggests things are not likely to get a whole lot better for a long time.
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Add it all up, and NAR's 8.6 month official backlog triples to about two years or so.
bubblesitter
2011 Apr 2, 6:14am
Wow, you people are still arguing using data during the peak of the U.S. empire, and the world’s economic expansion. We’re on the verge of a 100+ year change in society; a change from an oil society, and fossil fuel eventually, to something else. Yet you all insist on using the old data.
Whether you are right or wrong within the scope of your argument is irrelevant, your scope is way too small.
This place is beat. Peace Out.
Whoa. Who the hell was that?
Apocalypse with moderate views!
bubblesitter
2011 Apr 2, 7:13am
Some shadow inventory economics 101 for 2009 bottom callers:
http://realestate.yahoo.com/promo/why-the-housing-market-is-three-times-worse-than-you-think.html
Why are people bullish? Because they need a place to live and usually have to pay for that place. Owning isn't for everybody, but honestly, economics aside, don't you get tired of your landlord's nonsense?
Owning isn’t for everybody, but honestly, economics aside, don’t you get tired of your landlord’s nonsense?
I have owned two homes, and I have rented 7 or 8 places. The only "nonsense" I have had to put up with is a landlord trying to charge for damage that I didn't cause (and that worked out OK, but there was some BS involved), and a landlord who is rather cheap on the repairs (but took care of the important things). So, really, I haven't had much landlord nonsense to deal with -- NOTHING compared to the maintenance nonsense that I had to deal with.
Maybe I have gotten lucky, or maybe it's because I'm an excellent tenant and they treat me well to keep me. But honestly, not much nonsense.
Amazing, isn’t it? 8th month in a row of declining prices.
Is it? Higher food/gas prices, loans harder to get, the slow job market, people underwater on their current homes, people waiting for the market to bottom out...
bubblesitter
2011 Apr 27, 1:58pm
Amazing, isn’t it? 8th month in a row of declining prices.
Is it? Higher food/gas prices, loans harder to get, the slow job market, people underwater on their current homes, people waiting for the market to bottom out…
Throw in the spices of higher rate and govt pullout(if at all it happens) and you know what would happen.
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So did the double dip in housing begin? Why is everyone still bullish on housing?
#housing