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Home › Forums › Financial Markets/Economics › The Economy is a Lie, too › How can that be accurate, we

September 23, 2009 at 9:36 AM #460718
Rt.66
Participant

How can that be accurate, we have bidding wars for homes in SoCal? We have a whole new crowd of savvy RE investors outbidding each other preparing for the next big wave of RE appreciation.

Meanwhile…Japanese RE values reach bubble top @ Fall of 1989. 2009 still falling, but hope blooms eternal for RE bulls:

“It is the biggest decline in five years with average price falling 4.4% in the 12 months to the end of June and also marks the 18th consecutive annual decline, according to figures from the Ministry of Land, Infrastructure, Transport and Tourism.” http://www.nuwireinvestor.com/articles/japan-real-estate-nowhere-to-go-but-up-53718.aspx

18 years of declines ouch!

Japan unemployment 5.7%
US unemployment 20%

We’ll be fine right? Bid that REO up!!