Is Wells Fargo's Latest Memo a Sign Real Estate is Bottoming? [View article]
are you on crack ? Prices are falling like crazy, investors are all stuck either in the stock market or in housing. There is no money out there. On top of it, banks are really tightening loan standards. How many middle class people in OC have $150,000-$200,000 in cash to buy a decent OC median home priced home at $600,000-$700,000.
You must be getting some kickback from the pigs at NAR to come up with what you did.
Like GS and MerrillLynch said, home prices are still overvalued by 30-35% in many parts of US. In CA, annual house hold income is around $70k and prices will continue to come down to the affordability levels of 4x (around $280-$300k). Or in other words, prices should come down to 2002-03 levels. Currently they are at 04-05 levels.
Seven Reasons the Market Has Already Bottomed [View article]
same fools like you called the bottom when DOW rallied to 9000 from 7600. DOW to 10,000, DOW to 11,000 were their calls.
Watch for the market to make new lows in the coming months. You have seen nothing yet !
Is Wells Fargo's Latest Memo a Sign Real Estate is Bottoming? [View article]
You must be getting some kickback from the pigs at NAR to come up with what you did.
Like GS and MerrillLynch said, home prices are still overvalued by 30-35% in many parts of US. In CA, annual house hold income is around $70k and prices will continue to come down to the affordability levels of 4x (around $280-$300k). Or in other words, prices should come down to 2002-03 levels. Currently they are at 04-05 levels.
And mark this post, they will !