sickofthehype

Home Prices May Be Nearing Bottom, Bank Equities to Follow?

Thanks for your concern, but actually I'm in IT. I have nothing to do with real estate, except watch it for fun.


On Jan 14 10:52 PM WAKEUP wrote:

> sickofthehype, are you perhaps (!) a real estate agent, or somehow
> tied into the real estate market? (Hmmmmmmm?) Never mind. We know,
> already.

Home Prices May Be Nearing Bottom, Bank Equities to Follow?

I think we're at a bottom, and the 100% negative comments are a nice indicator.

Here in Phoenix the suburbs are seeing homes sell at 1999-2000 prices. Tell me the pendelum hasn't swung too far...

When properties, res/commercial, are selling at half replacement cost, I'm sorry but that's a deal. While you guys are crying about how we have 50% more to go, the smart money will be picking up steals. And when the inflation hits that IS GOING TO HAPPEN, this will all be a memory. Low prices AND low rates.

Now kick back and keep renting if you wish, but in reality we're bouncing along the bottom.

One last thing: Just watch after Obama is inaugurated. A new housing bill will suddenly come about, and consumer sentiment will rise, and the following turn in events will shock 99% of the population. Banks are only adding to balance sheets because of the requirement to match foreclosed loan balances, but once the inventory starts diminishing and the flood gates open, look out.

Don't let the sky hit you on the head.