I was simply making the observation that inventory which is one factor of many dictating the direction of the market is beginning to flatten. If you read my original post I went to the pains of noting that this does not portend a bottom but simply bears noting and is a shift from where it has been over the last 24+ months. Pending/actives, interest rates, jobs, foreclosures in pipeline, etc. are all equally important factors. I was just noting a direction change in one important factor . . . inventory. Its just amusing to see everyone here jump all over you if you note ANYTHING other than imminent doom, gloom, and market catastrophe on all fronts . . . including inventory. No I haven’t pulled the trigger yet. I pulled on a foreclosure but the gun didn’t fire (low ball offer not accepted sold at higher amount) so I am back to square one.
Again . . . simply bringing to Pigs attention (with link provided) an important piece of information which is beginning to shift direction.
I agree on inflation. On a closely related note the tanking dollar at some point will also have to be factored in. I don’t buy the notion that rich Asians/Indians from overseas will sustain the SD RE market but I have to believe that they will have at least a growing influence if the US dollar continues to tank. Having lost 15% of its value already this year, SD RE is all the more cheaper to someone whose cash is in Euros, Yen, or Pounds. Again a factor which by itself is not market shifting but has an influence. This and all the other factors is what makes predicting the direction of Adam Smith’s proverbial “invisible hand” so hard to predict. Thus the need to continue . . . . In search of a crystal ball . . . .
