nobull

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.

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.

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.

How Far to a Housing Bottom?

Also, why does your chart show prices going UP in 2008?

How Far to a Housing Bottom?

You seem to forget we are in the era of great deleveraging now. Assets will continue to be sold and continue to be devalued for a few years to come.

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.

Are Things About to Turn Around for Housing?

All I can say is "HA HA HA you delusional fools".
The economy is only just starting to hit its bottom. And housing will magically recover? Goodness!
Not till 2012 atleast.