total implosion of the u.s. real estate market

it will be 2.25 yrs before smart money starts to buy ...before confidence starts to return to the mkt

every mkt will be hurt ..discounts of 60 percent in some areas

inventorys just hit an all time high

and no one can borrow to buy anything now

prices going straight down.....

desperate sellers everywhere

real estate ads at an all time low

new homes at a 20 yr low

nyc down foreclosures in grenwitch hamptons down 12 percent

empty subdivisions in vegas number 600 plus

and miami is really really bad their have been some recent suicides that did not make it to the paper ...all real estate related
 
We are still no way near a bottom in real estate. Check out past real estate cycles such as the early 1990s. From the top, it normally takes around 5 years to reach the bottom. If the top was 2005/06, that makes the bottom 2010-2011. Also, once the bottom is in, the market does not just boom again. Instead it starts slowly creeping higher.

The best advice I can give is to simply wait until your local house price index gives a positive year on year price growth reading. This will show that the trend has reversed. Unlike stocks, real estate is not very "noisy" and price signals are usually accurate - once momentum starts it keeps going, once it reverses then the top or bottom has usually been made.
 
Quote from luckyluciano:

This post sums it up perfectly! Thus ending this post for me!
Been selling RE full time 24 years! Seen the ups & downs. Dont sweat the pullbacks...they happen in all markets RE included!
People need a roof over their head. End of story!
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What you are seeing now has never happened in the history of real estate.

The real estate bubble is the largest bubble ever
 
Quote from Longhorns:

You have no idea what you're talking about.

New York RE has held up like a rock. It might (probably will) go down in the future, but as of today your statement is 100% wrong.
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I agree on both counts; NYC RE has held up like a rock but, given the level of Wall St. layoffs and some higher inventory levels of late, it is likely to have some declines in coming months. My guess is when we look bck at this quarter (2nd quarter '08) a few months from now we will realize the market has started to decline.

Tommy
 
people lost their jobs..

so they can't make mortgage payments

so they sell

i don't care if interest rates are 1% ,,,can't get a 10%downpayment to buy the house or apartment if you have low income or no job.
 
Quote from Smart Money:

Funny you say that. You know, traditionally, real estate was a refuge during inflationary times. Whether one believes that the cost of real estate at its peak was warranted or not, can we agree that the devalued dollar is increasing the cost of materials in these properties? How much does it cost to build? I have a couple of 1 BR places that I rent out for $575 a month, and they are pretty nice. Recently an apartment complex was constructed and they are renting out smaller places for $790...they have to because the cost of materials and construction was so high.

If gold gets chased to the moon, then were are folks going to park their money of keep it from being ravaged by inflation?

I still say now is a hell of a time to buy, and people will figure that out once the newspapers get tired of reporting about the banking crisis.

SM
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Feds are engineering rampant inflation for this very reason.

Inflate everything so the dollar value of the home stays up - and the banks with foreclosed homes can recoup their losses. The real value of the home has always been the same. People who bought at the high will be bailed out with obtaining pretty much what they paid for the home. Just the dollars they receive will be worth a lot less.

Save the banks at all costs!
 
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