Here's two source papers for the above $25 Trillion Land Grab article:
America's Megapolitan Areas
From Wall Street to Your Street: New Solutions for Smart Growth Finance
(incl. Infill and Redevelopment)
http://www.mi.vt.edu/FacStaff/Director.asp
Housing Rolling Along 2
- Thread starter Covertibility
- Start date
America's Megapolitan Areas
From Wall Street to Your Street: New Solutions for Smart Growth Finance
(incl. Infill and Redevelopment)
http://www.mi.vt.edu/FacStaff/Director.asp
this subject is too much fun... I actually did put my mooney where my mouth is...sold all my property, moved to Costa Rica where i RENT, and my primary trading strategy at the moment is selling RE short....made about 10% last month.
RE is still hot down here as well, there are lots of people that are getting screwed buying it...it is entertaining to watch people try to sell Crap in a broke third world country for a ransom. they think this is the only place in the world with an overheated market.
i could go on and on.....nah.
RE is still hot down here as well, there are lots of people that are getting screwed buying it...it is entertaining to watch people try to sell Crap in a broke third world country for a ransom. they think this is the only place in the world with an overheated market.
i could go on and on.....nah.
http://home.businesswire.com/portal...d=news_view&newsId=20051102005788&newsLang=en
"Led by condominiums, housing sales are slowing and prices are falling in bellwether markets such as Dade County, Florida, Las Vegas, Miami and Orange County, a national housing authority told the National Association of Realtors Conference here. 'The leading housing indicators are flashing yellow in a growing number of markets including Phoenix, Boston, and Washington, D.C.,' said Steve Friedman, Ernst & Young's national director of housing."
"Among other indicators, cancellation rates for purchases of new homes are increasing, with the rate in Dade County jumping to 20%; appraised values are dropping below contract prices; houses are remaining on the market longer; buyer incentives are returning; and more real estate agents are suggesting buyers reduce initial asking prices."
http://today.reuters.com/investing/...102:MTFH72115_2005-11-02_16-18-46_N02638198:1
"The Mortgage Bankers Association's purchase mortgage index, considered a timely gauge on U.S. home sales, fell 6.2 percent to 437.6 from the previous week's 466.4. The seasonally adjusted gauge was 7.6 percent lower since last month."
"The purchase index posted a record high of 529.3 for the week ended June 10."
"The MBA's refinancing applications index was down 2.8 percent to 1,862.8 from 1,916.8 in the previous week and off 19.1 percent from 2,303.9 a year earlier. 'With 30-year fixed mortgage rates remaining above 6 percent and rising, both new purchase and refinancing activity are crumbling,' said (economist) Steven Wood."
"Led by condominiums, housing sales are slowing and prices are falling in bellwether markets such as Dade County, Florida, Las Vegas, Miami and Orange County, a national housing authority told the National Association of Realtors Conference here. 'The leading housing indicators are flashing yellow in a growing number of markets including Phoenix, Boston, and Washington, D.C.,' said Steve Friedman, Ernst & Young's national director of housing."
"Among other indicators, cancellation rates for purchases of new homes are increasing, with the rate in Dade County jumping to 20%; appraised values are dropping below contract prices; houses are remaining on the market longer; buyer incentives are returning; and more real estate agents are suggesting buyers reduce initial asking prices."
http://today.reuters.com/investing/...102:MTFH72115_2005-11-02_16-18-46_N02638198:1
"The Mortgage Bankers Association's purchase mortgage index, considered a timely gauge on U.S. home sales, fell 6.2 percent to 437.6 from the previous week's 466.4. The seasonally adjusted gauge was 7.6 percent lower since last month."
"The purchase index posted a record high of 529.3 for the week ended June 10."
"The MBA's refinancing applications index was down 2.8 percent to 1,862.8 from 1,916.8 in the previous week and off 19.1 percent from 2,303.9 a year earlier. 'With 30-year fixed mortgage rates remaining above 6 percent and rising, both new purchase and refinancing activity are crumbling,' said (economist) Steven Wood."
Well, when I called the 'top', I was only about a year off. Not one of my better calls .
Anecdotal report - 2 million plus USD trophy property in FL which was listed high one month ago and now reduced $400K has YET to have anyone look at it. Granted, there's a limited market, but it doesn't seem to bode well.
Are the new tax revision recommendations starting to spook the market? Sure would make me want to 'wait and see' just a bit.
Anecdotal report - 2 million plus USD trophy property in FL which was listed high one month ago and now reduced $400K has YET to have anyone look at it. Granted, there's a limited market, but it doesn't seem to bode well.
Are the new tax revision recommendations starting to spook the market? Sure would make me want to 'wait and see' just a bit.
can you post a link to this "trophy" property.
thanks!
surfer
http://home.businesswire.com/portal...d=news_view&newsId=20051102005251&newsLang=en
"One in twenty (5%) say they would be forced to sell their house at a loss if an increase in interest rates occurred in the next year."
http://www.dailynews.com/business/ci_3173029
"Soaring prices in the third quarter forced home buyers to stretch their finances as never before and may have finally reached a point where creative financing might not offer much help, a trade group said Tuesday."
http://www.nbc5i.com/news/5235568/detail.html
"A new study suggests affluent Americans now live with higher debt to afford their lifestyles. Statistics show that the highest 20 percent of Americans, those with a pre-tax income of $110,000 and up, have seen their liabilities skyrocket since 2001. Americans are basically living a lifestyle that they can afford as long as the unexpected doesn't happen,' said Robert Manning, a consumer finance expert."
"One in twenty (5%) say they would be forced to sell their house at a loss if an increase in interest rates occurred in the next year."
http://www.dailynews.com/business/ci_3173029
"Soaring prices in the third quarter forced home buyers to stretch their finances as never before and may have finally reached a point where creative financing might not offer much help, a trade group said Tuesday."
http://www.nbc5i.com/news/5235568/detail.html
"A new study suggests affluent Americans now live with higher debt to afford their lifestyles. Statistics show that the highest 20 percent of Americans, those with a pre-tax income of $110,000 and up, have seen their liabilities skyrocket since 2001. Americans are basically living a lifestyle that they can afford as long as the unexpected doesn't happen,' said Robert Manning, a consumer finance expert."
Oh my, ouch!
http://www.marketwatch.com/news/yho...o&guid={2632BEBB-7C84-4B50-9105-B27EF5B0D283}
The Dublin, Ohio-based company (DHOM:
Dominion Homes Inc
9:55am 11/03/2005
DHOM11.26, -0.89, -7.3%) Wednesday night said net income in the third quarter plunged 84% to $1.2 million from $7.5 million last year.
"Our third-quarter results reflect the difficult sales conditions we are experiencing in our markets, which we anticipate will continue through the remainder of 2005," said Chief Executive Officer Douglas Borror. He said the company expects earnings will be "substantially less" than last year on lower sales.
"We remain focused on improving our sales and managing our business operations and inventories," Borror said in a statement.
On Oct. 10, the builder said the sales value of homes sold during the third quarter fell 25% from last year and issued a profit warning, triggering a 13% one-day slide in shares.
http://www.marketwatch.com/news/yho...o&guid={2632BEBB-7C84-4B50-9105-B27EF5B0D283}
The Dublin, Ohio-based company (DHOM:
Dominion Homes Inc
9:55am 11/03/2005
DHOM11.26, -0.89, -7.3%) Wednesday night said net income in the third quarter plunged 84% to $1.2 million from $7.5 million last year.
"Our third-quarter results reflect the difficult sales conditions we are experiencing in our markets, which we anticipate will continue through the remainder of 2005," said Chief Executive Officer Douglas Borror. He said the company expects earnings will be "substantially less" than last year on lower sales.
"We remain focused on improving our sales and managing our business operations and inventories," Borror said in a statement.
On Oct. 10, the builder said the sales value of homes sold during the third quarter fell 25% from last year and issued a profit warning, triggering a 13% one-day slide in shares.
POS death march continues as another wheel comes off the cart....this stock is down almost 40% in one day! Sideways grind???? Not!
http://www.thestreet.com/_mktwrm/markets/realestate/10251236.html?cm_ven=CBSM&cm_cat=FREE&cm_ite=NA
Zip Realty Warns
By TSC Staff
11/3/2005 4:51 PM EST
Zip Realty (ZIPR:Nasdaq) plunged 16% late Thursday after the real estate brokerage missed third-quarter estimates and slashed guidance.
The once mighty continue to fall.....Toll Bros guides down for next year. How could this happen????!!! What about the housing shortage, what about all the college graduates that need homes, what about "SteveD's" comments "There is an infinite demand for basic housing. This demand replenishes itself every year."???....Oh, and Toll Bros stock is down another 12% today. Looks like the Toll Bros were pretty smart after all in selling hundreds of millions of shares to eager buyers.
DHI, another favorite on this thread and the subject of the very first post on this thread, has gapped down and is running 8% lower than yesterday.
http://biz.yahoo.com/rb/051108/markets_stocks_beforethebell.html?.v=1
"(TOL) warned new home deliveries and earnings next year would probably fall short of its expectations."
DHI, another favorite on this thread and the subject of the very first post on this thread, has gapped down and is running 8% lower than yesterday.
http://biz.yahoo.com/rb/051108/markets_stocks_beforethebell.html?.v=1
"(TOL) warned new home deliveries and earnings next year would probably fall short of its expectations."
Quote from Covertibility:
Ahhhh.... it is amusing to read all the comments from the housing bears - from mythical high inflation to rising rates to a national housing bubble. How people can get simple things so wrong is truly mindboggling. Its quite amusing to read this thread from the start. Now children, lets all point and laugh.LMAO. How the hell do people get it so wrong? The big picture is housing has a long long ways to go before problems show up. And a housing crash, lol, not gonna happen.