Housing doom and gloom - ENOUGH already !!

Quote from Joab:

OK,

I agree that housing got inflated in some area's way too much and to be honest I think all houses are hardly worth what they cost considering what you get.

BUT

Here is why I think all the doom and gloom is an overreaction.

But hey there's my common sense getting in the way again !!!

http://www.poodwaddle.com/worldclock.swf
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guess they haven't come for you yet...


huh?
 
Quote from Thurgood:

Hey deuchebag. Do you still need me to elaborate on the bigger picture?
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YES PLEASE!!

I thought this site was for traders ( forget the elite part for the moment). Houses aren't really an asset class that are traded in the way that the majority here would understand trading.

My last comments on this site back in mid Feb in this and other threads were along the lines that housing and everything else being brought up were not enough to kill the market ( stock). Almost exactly 4 months later, the S&P500 is slightly higher than it was when I made those comments. First 1/4 GDP was positive, then revised higher! So technically, not even close to a recession yet as traditionally defined.

The argument was not that the housing sector ( and others) don't have major problems, quite clearly they do. But they can't kill the market. If you had even a rudimentary understanding of economics, you would know why.

So again, yes, please enlighten me with any details that would support your argument of why a housing market in turmoil will kill the market.

For now, I'm off to wash in a fanny bag!! LOL

:D :D

PS I admire your courage in sticking to your guns. As they say, if you can't predict right, predict often!
 
Quote from balda:

Thank you for the education. But why do I need to use zillow or speak to a real estate agent?

go to realtor.com

this is house in tarzana listed for 489K

http://www.realtor.com/search/listi...a&pg=4&lid=1093853203&lsn=38&srcnt=255#Detail

this is details on the same house from zillow
estimated value 623K. Is this home owner is out of his mind offering his house for 134K below zillow estimate?

http://www.zillow.com/HomeDetails.htm?zprop=19933701


Edit:
info from zillow

last sold 9/02/2005 for 699K this is exactly 30% drop.

let me know and I will find you more withing minutes.

looks like home owner got tired doing laundry all alone and went back to renting. :)
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Oh yes RE bottomed get this beautiful house with $264K discount yes this house is offered $264K lower than it was last sold in 2005

Now offered at $435K
 
Quote from Thurgood:

Hey deuchebag. Do you still need me to elaborate on the bigger picture?
More...

Blimey! The SPX fell today, almost 1%. Wow, it's back down at those mid Feb levels I mentioned a couple of days ago. Disaster.

Seriously, can you hurry up and elaborate on those bigger picture points that are going to cause the collapse/bear/ whatever you want to call it. I've got to write a client newsletter and I want to be able to quote you and use your research as an example when telling people that there's nothing to worry about when looking at the broad market. My clients like a good laugh. :D
 
"It aims to spare an estimated 400,000 debt-strapped homeowners, many of whom owe more their houses are worth ....."

You owe more than your house is worth? How is this a new concept? Anyone here own a car that is worth more than they paid for it? You buy a new car and it loses value as soon as you register it. How about diamonds, stamps or coins?

The consumer mentality, try it for 30 days and if you are not fully satisfied return for a full refund.

People blew their wad in the market during the internet bubble, then they all became real estate experts.

Stay tuned for the unemployement check and lottery ticket bubble.
 
Quote from balda:06-17-08 04:55 PM

Quote from balda:

Thank you for the education. But why do I need to use zillow or speak to a real estate agent?

go to realtor.com

this is house in tarzana listed for 489K

http://www.realtor.com/search/listi...rcnt=255#Detail

this is details on the same house from zillow
estimated value 623K. Is this home owner is out of his mind offering his house for 134K below zillow estimate?

http://www.zillow.com/HomeDetails.htm?zprop=19933701


Edit:
info from zillow

last sold 9/02/2005 for 699K this is exactly 30% drop.

let me know and I will find you more withing minutes.

looks like home owner got tired doing laundry all alone and went back to renting.






Oh yes RE bottomed get this beautiful house with $264K discount yes this house is offered $264K lower than it was last sold in 2005

Now offered at $435K
More...

Now offered at $395K

$304K discount
 
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