Soft Landing??? Not so much...
So much nonsense going on in this country, where to start?!?!?
I will keep it simple for now, and I just want to put this article out there for all the 'experts' and real estate geniuses of a few years back. Seems your 'level out' and 'soft landing' theories didn't pan out so well.
Read this: Home Prices in 20 US Cities fell by a record 19%
I have been hustling getting a new business up and running, so I haven't had time to discuss the AIG bonuses, the new 'Government Motors' Corporation, and the host of other things I never thought I would see happening in our Constitutional Republic.
Stay tuned...
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posted by SoCalMtgGuy at 9:27 AM
71 Comments:
Smoke and mirrors.
Correct me if I am wrong. When a home is taken over by a bank,transfer of ownership is consider a sale. So don't think things are picking up when you see reports of rising home sales.
"Quantative easing" printing huge amounts of fiat dollars to stimulate the economy. It will BUT it will stimulate hypeinflation.
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I think you right about a home being taken over by a bank is considered a sale. So many foreclosed homes now no wonder the the sales are going up.
Yikes. I didn't know that bank seizures were considered "sales".
"Correct me if I am wrong. When a home is taken over by a bank,transfer of ownership is consider a sale. So don't think things are picking up when you see reports of rising home sales."
I'm pretty sure that you're wrong about this...
The more I read about the how banks work behind their large, weighty doors, the less optimistic I become about our economy improving. Call me a pessimist, but I don't see how our system is going to allow for the sorts of changes that really need to take place...
Someday, the FBs of the world are going to rise up and topple the system as we know it.
I mean, what do you expect? We aren't exactly doing much to instill confidence in the real estate market. If people want nothing to do with it, it's not going to get any better anytime soon.
I think that things are going to improve even if it does not look like it right now... We just have to give it time...
You should write some more articles! I was really starting to enjoy your blog...
Soon they will be able to find fair solutions for this kind of issues, well hoping they will
Dude your foresight was impeccable (although not neccessarily genius as we all saw this coming). 95% of the homes I show have been "walked away from" and are dilapidated and sitting empty (bank owned or HUDs). Not sure why prices aren't dropping more than they are. I wouldn't give half what they are asking on most of these places!!
If the crazy interest rates hadn't come into play, this whole debacle could have been avoided.
Any further downward pressure on home prices will hamper the economic recovery, raise foreclosures and hurt banks abilities to lend and likely tip the economy into another recession resulting in further job losses for the country, Looking for any updates this year.. Thanks for sharing!
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Mortgage Low Rate
Looks more like a hard landing to me.
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the housing market is the first to get affected by the changes in economy. if the economy is good then the effects are positive and for bad economy the effects are negative. the economy have been bad since 2010 and it continued to be for most of 2013. but now it has started to recover.
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