Turnaround sloganeering sighted – Piggington's Econo-Almanac

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November 14, 2007 at 8:48 AM #10898

(former)FormerSanDiegan
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Just over a year ago I began wondering on this board if we would see a return of the turnaround “sloganeering” that we witnessed during the last downturn in the 1990’s. Back then you would here catch phrases assigning years to potential future RE downturns. I think these were intended to be used as simple mnemonics for agents so that they could remember the party line.

My personal favorite back then was “Stay alive until ’95”. This actually showed up in print in 1993 or 1994.

Last August we wondered when these would make a comeback. Here’s the post from Aug 2006:
http://piggington.com/next_years_re_industry_catch_phrase

Well guess what. They’re baaack. The U-T had the following quote in an article today covering the downturn.

“Biding time till 2009”
was the watchword from Mark Grinis, global real estate partner for the Ernst & Young accounting firm in New York.

Now that’s pretty weak, it doesn’t really even rhyme. However, it’s likely a harbinger of more catch phrases to come in coming months/years.

November 14, 2007 at 8:51 AM #99260

(former)FormerSanDiegan
Participant

Here’s the link to the U-T article.
http://www.signonsandiego.com/news/business/20071114-9999-1b14prices.html

Back in Aug 2006, PD came VERY close to predicting the catch phrase used by the agent in the article. PD came up with “Buying time in 2009”. Where have you gone, PD ?

November 14, 2007 at 8:51 AM #99344

(former)FormerSanDiegan
Participant

Here’s the link to the U-T article.
http://www.signonsandiego.com/news/business/20071114-9999-1b14prices.html

Back in Aug 2006, PD came VERY close to predicting the catch phrase used by the agent in the article. PD came up with “Buying time in 2009”. Where have you gone, PD ?

November 14, 2007 at 8:51 AM #99337

(former)FormerSanDiegan
Participant

Here’s the link to the U-T article.
http://www.signonsandiego.com/news/business/20071114-9999-1b14prices.html

Back in Aug 2006, PD came VERY close to predicting the catch phrase used by the agent in the article. PD came up with “Buying time in 2009”. Where have you gone, PD ?

November 14, 2007 at 8:51 AM #99323

(former)FormerSanDiegan
Participant

Here’s the link to the U-T article.
http://www.signonsandiego.com/news/business/20071114-9999-1b14prices.html

Back in Aug 2006, PD came VERY close to predicting the catch phrase used by the agent in the article. PD came up with “Buying time in 2009”. Where have you gone, PD ?

November 14, 2007 at 9:09 AM #99345

pencilneck
Participant

It’ll be better to wait in 2008.

November 14, 2007 at 9:09 AM #99352

pencilneck
Participant

It’ll be better to wait in 2008.

November 14, 2007 at 9:09 AM #99331

pencilneck
Participant

It’ll be better to wait in 2008.

November 14, 2007 at 9:09 AM #99268

pencilneck
Participant

It’ll be better to wait in 2008.

November 14, 2007 at 9:19 AM #99335

patientlywaiting
Participant

Do you think that owners have enough cash to “bide their time ’til 2009”?

I don’t think the the market would have recovered to previous highs by 2009 so it should be more like “walk now while you can.”

I would wait a couple of years past whatever date the mainstream media comes up with.

November 14, 2007 at 9:19 AM #99356

patientlywaiting
Participant

Do you think that owners have enough cash to “bide their time ’til 2009”?

I don’t think the the market would have recovered to previous highs by 2009 so it should be more like “walk now while you can.”

I would wait a couple of years past whatever date the mainstream media comes up with.

November 14, 2007 at 9:19 AM #99273

patientlywaiting
Participant

Do you think that owners have enough cash to “bide their time ’til 2009”?

I don’t think the the market would have recovered to previous highs by 2009 so it should be more like “walk now while you can.”

I would wait a couple of years past whatever date the mainstream media comes up with.

November 14, 2007 at 9:19 AM #99349

patientlywaiting
Participant

Do you think that owners have enough cash to “bide their time ’til 2009”?

I don’t think the the market would have recovered to previous highs by 2009 so it should be more like “walk now while you can.”

I would wait a couple of years past whatever date the mainstream media comes up with.

November 14, 2007 at 9:24 AM #99354

patientlywaiting
Participant

Here's what he said:

“Biding time till 2009” was the watchword from Mark Grinis, global real estate partner for the Ernst & Young accounting firm in New York.

“I would expect to see a recession sometime in midyear 2008,” he said, acknowledging that he has been described as the “dark cloud” among prognosticators for the past two years.

I totally agree with the recession part. 2009 might the right time for builders to look for land at rock bottom prices to get back in the business. Not so for home sellers or buyers.

November 14, 2007 at 9:24 AM #99360

patientlywaiting
Participant

Here's what he said:

“Biding time till 2009” was the watchword from Mark Grinis, global real estate partner for the Ernst & Young accounting firm in New York.

“I would expect to see a recession sometime in midyear 2008,” he said, acknowledging that he has been described as the “dark cloud” among prognosticators for the past two years.

I totally agree with the recession part. 2009 might the right time for builders to look for land at rock bottom prices to get back in the business. Not so for home sellers or buyers.
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