Housing doom and gloom - ENOUGH already !!

xiaodre · Feb 7, 2008

You're telling us they outnumber any group, like say, people that have been foreclosed upon in the last 6 months from ARMs resets, or have the power to spread doom and gloom more heavily than say, NBC nightly news and their weekly coverage of the mortgage crisis and the slowing economy?

hmm...interesting theory.

Quote from day7793:

Its the real estate BLOGGERS that have spread this doom and gloom. They outnumber any group.

There are 100s for these negative websites and blog gs run by people who have never bought a home and living in a van with a computer! I caught one guy on Yahoo.com a freelance Journalist and he was living in a van and decrying home purchases and how real estate is a bad investment!

This was an eye opener to me. Its these have-nots and people who can't buy a home sending massive depressive messages across the board.

Joab · Feb 7, 2008

This thread has got WAY off topic !!!

Population growth is what will save the housing market, always has , always will.

trendlover · Feb 7, 2008

Quote from Thurgood:

thereby driving the home values down even further...

Yes, your right. But value of homes are a big (?) right now. That is the problem. Many home values have been over inflated in past 4 years or so....so what is their value? Nobody wants to buy at the top. The forclosures were bought at the top with cheap credit....but buyer couldn't make the payments over time. House gets forclosed...on the market again....at lower value then before. Up for grabs.

Fangdog · Feb 7, 2008

Quote from Joab:

gnome,

I respect you as a trader but I got to tell you your very pessimistic.

Sure things are not great but it's not because of democracy ....

The economy sucks because of the Bush government.

Don't worry the moron will be out soon and with any luck America will wake up and elect someone with at least half a brain this time.

If you think the reason for the economy is because Bush sucks, you are very naive. Up-turns and down-turns have been around forever, no matter who is president In more recent history I can go back to Roosevelt as the beginning of the end and then someone can go back before Roosevelt. Interesting reading is the Kondratieff Waves in regard to long-term world economic cycles.

Joab · Feb 7, 2008

Quote from Fangdog:

If you think the reason for the economy is because Bush sucks, you are very naive. Up-turns and down-turns have been around forever, no matter who is president In more recent history I can go back to Roosevelt as the beginning of the end and then someone can go back before Roosevelt. Interesting reading is the Kondratieff Waves in regard to long-term world economic cycles.

I think the economy is in trouble because of MASSIVE budget deficits and bad government policies that have trickled down to main street.

Regardless of who it's still a mess !!!

gnome · Feb 7, 2008

Quote from Joab:

I think the economy is in trouble because of MASSIVE budget deficits and bad government policies that have trickled down to main street.

Regardless of who it's still a mess !!!

EXACTAMUNDO!

And all the "start a war with somebody", growth stimulus, money pump, inflate like crazy and lie about it, are all efforts to (1) obfuscate the truth, (2) stick somebody else with the consequences... even if that includes future generations of Americans.

gnome · Feb 7, 2008

Quote from Joab:

Population growth is what will save the housing market, always has , always will.

BINGO again! (You on a roll Joab).

IF it's "going to TAKE population growth" to save the housing market...

(1) Think of all the vacated RE and overbuilt inventory which is in the market and the inflated prices caused by the recent lending mess. That's "overhead" to be recovered before the market and its accompanying wealth effect can resume. Meaning, "housing weakness won't be over any time soon".

(2) The Boomers are reaching retirement age and many would like to downsize their homes if for no other reason than to live off of the money that would be freed up.

Put these two facts together along with the historical role housing has played in the US economy. It's a picture of RE softness... and likely for much longer than anyone is counting on.

Thurgood · Feb 7, 2008

Quote from trendlover:

Yes, your right. But value of homes are a big (?) right now. That is the problem. Many home values have been over inflated in past 4 years or so....so what is their value? Nobody wants to buy at the top. The forclosures were bought at the top with cheap credit....but buyer couldn't make the payments over time. House gets forclosed...on the market again....at lower value then before. Up for grabs.

Yes, the prices of real estate can not be sustained with no amount of Crack supplied by the Fed. I was only pointing out the foreclosures could speed up the deceleration. It's going down regardless.

trendlover · Feb 7, 2008

Quote from Thurgood:

Yes, the prices of real estate can not be sustained with no amount of Crack supplied by the Fed. I was only pointing out the foreclosures could speed up the deceleration. It's going down regardless.

Ok, that is the point. Foreclosures are happening now. Its already to that point. Not a good thing BUT that is the reality. So waht happens next? People find opportunity in someones elses mistakes. So forclosed homes go back on market so banks can at least get something back...not what they expected of course, but not a complete and total loss either. Its some money back in the system verses no money back in the system from a foreclosure that never sells and just sits. So people who buy up foreclosures, then resell for profit are giving economy a small infusion...and same time making profit for themselves. If they try to make a HUGE profit by flipping, then they may stagnate with no buyers. If they settle for a reasonable profit, then real estate starts chugging ahead again.

I am... · Feb 7, 2008

Quote from the gardner:

it will be as if we enter a seemingly endeless tunnel at the end of wich their seems to be no light ...a dark place with no clock ...
and with people and shadows screaming....scratching for an exit that does not exist ...as we drag ourselves over the bones of the dead..................did i explain myself a little better this time....g

You forgot 'gnashing of teeth'. But otherwise, yea.

Jesus