You are right, Murray. The situation does not look bright, considering the following link:
http://money.cnn.com/2008/05/05/real_estate/Bernanke_home_prices_and_foreclosures/
Housing doom and gloom - ENOUGH already !!
- Thread starter Joab
- Start date
You are right, Murray. The situation does not look bright, considering the following link:
http://money.cnn.com/2008/05/05/real_estate/Bernanke_home_prices_and_foreclosures/
Quote from united46:
I've tried to say it in other threads but many don't want to hear the facts.
If you care to elaborate on what " the bigger picture " is, I'm only to happy to blow 90% of the negative facts out of the water with actual data.
That's not to say that I don't agree with the fact that traders could and should take advantage of price movement in either direction. But the doom sayers are trying to report "facts" to support their opinions when they are not looking at the bigger picture. We've heard about banks, derivatives etc etc but nobody ( and I do mean nobody) makes a factual case for why these issues spell doom for the market. There's a whole thread on banks running out of capital, it's taken 10 pages of posts for someone to actually report the real deal - let's see how many of the doom and gloomposters come back to that thread now and say, "s**t, i was wrong". Not many I'll bet. Never let ego get in the way of a good story.
Sure, sentiment is gloomy. That's a part of normal market action.
Please enlighten me with the bigger picture and I'm happy to enlighten back.
Hey deuchebag. Do you still need me to elaborate on the bigger picture?
I dont see housing getting any better until the banking industry/ credit crunch is over and turned around. Supply and Demand. If people cant get loans, there isnt demand. In some places house prices are down by 50%. I work in real estate. I've seen more than one person lose everything as a result of this shitty real estate market, believe me for some of us the doom and gloom is well justified.
Toll Brother CEO says, HOUSING DEPRESSION !!!
http://www.tradingmarkets.com/.site/stocks/commentary/editorialarticles/-77100.cfm
http://money.cnn.com/2008/06/04/real_estate/toll_depression.ap/?postversion=2008060414
LOOK OUT BELOOOOOW>>>>>>>
BB
http://www.tradingmarkets.com/.site/stocks/commentary/editorialarticles/-77100.cfm
http://money.cnn.com/2008/06/04/real_estate/toll_depression.ap/?postversion=2008060414
LOOK OUT BELOOOOOW>>>>>>>
BB
Please read the following & comment:
"The housing implosion is nowhere near over. In 75 of the 100 top U.S. cities, prices are expected to fall in the next 12 months according to Fiserv Lending Solutions.............................
..............Meanwhile, foreclosure filings more than doubled in the first three months of 2008, spiking 112%. So far this year 156,463 families have lost their homes to repossessions. Many markets won't hit bottom till late 2009 or even 2010." (http://promo.realestate.yahoo.com/promo/10-fastest-growing-real-estate-markets.html)
"Pending sales of previously owned U.S. homes unexpectedly rose in April to the highest level in six months as foreclosed properties flooded the market and drove prices sharply lower, a real estate trade group report on Monday showed.
The National Association of Realtors Pending Home Sales Index, based on contracts signed in April and seen as a key barometer of future housing activity, increased 6.3 percent to 88.2 from an unrevised 83.0 in March. Despite the uptick, sales were 13.1 percent lower than a year ago." (http://biz.yahoo.com/rb/080609/usa_economy_housing.html)
"The housing implosion is nowhere near over. In 75 of the 100 top U.S. cities, prices are expected to fall in the next 12 months according to Fiserv Lending Solutions.............................
..............Meanwhile, foreclosure filings more than doubled in the first three months of 2008, spiking 112%. So far this year 156,463 families have lost their homes to repossessions. Many markets won't hit bottom till late 2009 or even 2010." (http://promo.realestate.yahoo.com/promo/10-fastest-growing-real-estate-markets.html)
"Pending sales of previously owned U.S. homes unexpectedly rose in April to the highest level in six months as foreclosed properties flooded the market and drove prices sharply lower, a real estate trade group report on Monday showed.
The National Association of Realtors Pending Home Sales Index, based on contracts signed in April and seen as a key barometer of future housing activity, increased 6.3 percent to 88.2 from an unrevised 83.0 in March. Despite the uptick, sales were 13.1 percent lower than a year ago." (http://biz.yahoo.com/rb/080609/usa_economy_housing.html)