David in D

U.S. Housing Has Bottomed

I agree with Houston. I'm tired of the perpetual string of perma-bears that post comments on Seeking Alpha. Without a doubt, there is some "thaw" in housing and while the recovery will not be quick or consistently spread everywhere there are definite signs of recovery.


On Jul 27 05:10 PM Houston wrote:

> For a few months all you chicken littles have decried the end is
> nigh and the barbarians are still closing towards the gates...the
> alt-a's, the shadow foreclosures...yet the news keeps improving.
> Maybe because
> overall confidence amongst the many with jobs and money (that no
> one here wants to acknowledge) and low prices have provided a bottom
> that could not be quantified or predicted...just like nothing else
> about this has been quantified or predicted.(except by Schiller)
>
>
> It's like a cold front impacting a warm front early in the seasonal
> change, there are a lot of storms but there are many things offset...so
> often it's not so bad.
>
> The economy is coming back. The impact of the Alt-a's and shadow
> inventory will bleed into it and have an affect but not the catastrophic
> one it would have had when it added burden to an un propped economy.
>
>
> If you're in Phoenix and you bought at the top of the market mand
> are paying your mtg, you're effed for a good while. If you're in
> Dallas, not so bad.
>
> During the 80's oil bust I bought a condo that bottomed at less than
> one third of it's value. I rented, held and took a loss on it for
> 20 years until I could sell it for 2/3 of what I bought it for which
> was breakeven on the mtg at that point.
>
> Cal values will come back faster but it's gonna be a while. But overall
> the sun is beginning to shine.
>
> Don't tinkle on everybody's tennis shoes.