patrick.net

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

klarek says

This?

http://finance.yahoo.com/news/Home-prices-fall-for-8th-rb-2501952475.html;_ylt=Al0ZudKgb3H7SXD8fQEq02W7YWsA;_ylu=X3oDMTE1aDdzdHAxBHBvcwMzBHNlYwN0b3BTdG9yaWVzBHNsawNob21lcHJpY2VzZmE-?x=0&sec=topStories&pos=main&asset=&ccode=

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?

sfvrealestate says

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.

klarek says

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...

StoutFiles says

klarek says

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.