No, Old Trader is right. Its the apocalypse. Because 1% of the homeowners might go into foreclosure, we'll be living in bunkers and eating canned food. Sad, really.
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total implosion of the u.s. real estate market
- Thread starter the gardner
- Start date
No, Old Trader is right. Its the apocalypse. Because 1% of the homeowners might go into foreclosure, we'll be living in bunkers and eating canned food. Sad, really.
The prediction of the demise of the real estate market is as impressive as those who have forecasted 20 of the last 3 recessions.
You can cry, wheep and gnash your teeth, but the market represents current expectations as well as many other things. It is more clever than any prognosticator
In other words, it ain't that simple. People are still working. People keep graduating from college. Poeple keep immigrating. They want a place to live. Yes, some places will decline. Builders are cutting back. People who don't get what they want will hang on to their home longer. PEOPLE WILL LIVE SOMEWHERE.
Yes, some of the gains might be given back. Same thing happens in the market. After 9/11 people stopped trusting stocks and started pouring money into their homes. No one said that will last forever.
Constantly banging the drums of doom is tiresome. Even in the great Depression, home & land values recovered.
You can cry, wheep and gnash your teeth, but the market represents current expectations as well as many other things. It is more clever than any prognosticator
In other words, it ain't that simple. People are still working. People keep graduating from college. Poeple keep immigrating. They want a place to live. Yes, some places will decline. Builders are cutting back. People who don't get what they want will hang on to their home longer. PEOPLE WILL LIVE SOMEWHERE.
Yes, some of the gains might be given back. Same thing happens in the market. After 9/11 people stopped trusting stocks and started pouring money into their homes. No one said that will last forever.
Constantly banging the drums of doom is tiresome. Even in the great Depression, home & land values recovered.
Quote from GaryN:
One thing Ive been thinking about is Las Vegas real estate. They import almost all of their water and the country is facing a water shortage. If Las Vegas water supply is ever threatened what would happen to real estate values there?
I don't think water will be a problem for Vegas. There is a pretty good size lake behind the Hoover Dam. It would take several winters in a row with no snow in Colorado to bring the water level down.
Unrelated, but FWIW, there is enough water in the Ogala reservoir to cover the continental US with 16" of water.
Quote from Smart Money:
No, Old Trader is right. Its the apocalypse. Because 1% of the homeowners might go into foreclosure, we'll be living in bunkers and eating canned food. Sad, really.
Right, another guy who never entered the debate with even the SLIGHTEST concession that MAYBE prices would soften at some point in the future.
Quote from rcanfiel:
The prediction of the demise of the real estate market is as impressive as those who have forecasted 20 of the last 3 recessions.
You can cry, wheep and gnash your teeth, but the market represents current expectations as well as many other things. It is more clever than any prognosticator
In other words, it ain't that simple. People are still working. People keep graduating from college. Poeple keep immigrating. They want a place to live. Yes, some places will decline. Builders are cutting back. People who don't get what they want will hang on to their home longer. PEOPLE WILL LIVE SOMEWHERE.
Yes, some of the gains might be given back. Same thing happens in the market. After 9/11 people stopped trusting stocks and started pouring money into their homes. No one said that will last forever.
Constantly banging the drums of doom is tiresome. Even in the great Depression, home & land values recovered.
You must be on a double dose of Zoloft OR you are a guy WHOSE LIVELIHOOD depends on the real estate market.
That schtick wouldn't even fly on a late night infomercial.
Quote from rcanfiel:
The prediction of the demise of the real estate market is as impressive as those who have forecasted 20 of the last 3 recessions.
You can cry, wheep and gnash your teeth, but the market represents current expectations as well as many other things. It is more clever than any prognosticator
In other words, it ain't that simple. People are still working. People keep graduating from college. Poeple keep immigrating. They want a place to live. Yes, some places will decline. Builders are cutting back. People who don't get what they want will hang on to their home longer. PEOPLE WILL LIVE SOMEWHERE.
Yes, some of the gains might be given back. Same thing happens in the market. After 9/11 people stopped trusting stocks and started pouring money into their homes. No one said that will last forever.
Constantly banging the drums of doom is tiresome. Even in the great Depression, home & land values recovered.
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!
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!
Exactly, you're a realtor, what else would we expect you to say. However, if Canfield's ISNT a realtor and wrote that crap, then...