nobull

Updated Case-Shiller 100 Year Real Estate Chart

Thanks for the chart. Someone should mail this to the NAR and their so-called ahem "economist".
For those doubting the projection, look at other peaks - things always revert to their mean.

NAR on Existing Home Sales and Low Ball Appraisals

"Here's the thing: IMO, The appraisers job is not to determine value--- that should be the buyers job! "
Thats ridiculous. We've already seen how stupid and easily misled (by realtors like you) buyers are. Otherwise we wouldnt have buyers paying those ridiculously overvalued prices the last few years of the housing bubble.
And given that these losers conveniently walk away when the investment go bad, its all the more important appraisers get oof their greedy quick buck mentality and do a credible job.

Housing Data Indicates Bottom, Not Recovery

The only thing keeping prices where they are is the US govt - on the one hand they are stoking inflation forcing people to buy houses and other hard assets. On the other hand, its their meddling with foreclosures that's preventing it from finding a natural bottom. Many sellers still hopeful of a quick turnaround are setting their prices still relatively too high, and buyers are still reluctant to step in. The govt should get out of the way for housing to stabilize.

Real Returns on Residential Real Estate

Im in the northeast and Im looking to buy but I must say prices still have ways to go down before it becomes attractive. There is plenty of inventory on the market. And while prcies be lower than the peak, theyre still unrealistic. There's the hope from sellers that govt programs will get this market turned around if they just wait it out. Until the govt stops meddling and lets prices find their natural bottom, the market will languish. Ill take my time.

Housing Affordability Hits Record Highs in December and January

Another highly valued, completely unbiased, purely informational piece of research from your trusted NAR. Id be lost without their insight and research.

Housing Shows Signs of Life

If the govt stops meddling, housing can find its floor and the low prices will bring in buyers. The govt should get out of the way and stop pouring our money to bail out losers and "fixing" home prices.

Where Is That Mythical Housing Bottom?

I dont buy the nonsense of "until housing recovers, the economy wont". This is just plain dumb. Housing is just ONE industry. Just because people overleveraged on their housing "asset" once to create an artificial spending boom, dosent mean they can/will go back to doing that. It is an overpriced asset in an industry where currently supply is abundant. So it has to correct to find its bearings.
Meanwhile lets focus on creating jobs in SUSTAINABLE industries (medicine, energy, tech) - that also enhances quality of life along the way.

Housing Bailout - This Is Getting Ridiculous

Sheila Bair disgusts me. She's using our money to give away to losers while posing as a saint and a knight. And thats not even the job of the FDIC.
If these slimeballs were sincere, they would refinance to a 40yr mtg.
Forcing prices artificially does not help housing. Prices have to reach equilibrium with the rest of the economy. I am apalled at this whole approach.

Obama's Housing Plan - What Will It Really Accomplish?

whats needed is for Fidel Obama to focus on jobs and stop handing out our money to gamblers. Saving foreclosures does zero for the economy.

Did the Fed Miss the Housing Decline?

Not sure I agree completely. They have always had an inflation bias - rather have inflation than slower growth, until it was too late. I well remember Greenspan when asked in 2004 about the housing price explosion saying "We are not concerned with asset price variations". This even though a "genius" like him should have realized how the price fluctuation in housing affects so many inflation price points. Not to mention the growth impact on the economy. And Ben was right there, egging him on with his policies, if u read the Fed transcripts.
Thats what infuriates me. Now that prices are low, they are concerned and are moving heaven and earth to "fix" it.

Homebuilders Agree: January Was A Good Month

"While the market is certainly not anywhere close to normal"
What do they expect as "normal"...it certainly aint gonna look like 2004 for another generation atleast, if thats what theyre hoping for.
That said, I do see a bottom forming, atleast for a year or so.

Housing: Not Cheap Enough?

CA, FL, AZ - arent these also hotspots of immigrant labor. And ofcourse they were mostly drawn in by the building boom in the first place. Vicious cycle! Now the building frenzy is gone. theyre gone, speculators are gone. Their economies are dead. It will be a long time before balance is restored and prices can move up. So sit back and relax folks...even if it really has hit the bottom, its not going anywhere up anytime soon.

The Housing Market Will Improve with Lower Prices, not Lower Interest Rates

I agree. The healthiest thing for housing is to get through its correction process. And that means speeding up foreclosures and not letting this disease linger on. This will bring in healthier buyers who will actually spend money into upkeep and put money back into the economy. I dont want to hear nonsense about "homelessness" for those who cant pay their mortgages - they were never supposed to qualify for these loans, so whats the big deal, they can go back to renting.