Bottom? Yeah, I don’t think so…

[cv2]

This is not bottom yet

Look, during the housing boom, the desirable areas rose first. When that price is too high or unaffordable, flippers went to to less desirable areas. Now, the reverse is true. The less desirable area has drop about 30% in San Diego but the desirable area has not take much hit.

My guess is that we will see more drop in undesirable area until it hits the point that it is worthy while for the investors to buy as rentals. At that point, it is time to get back to market to buy at desirable area.

[lendingbubblecontinues]

Look, until we get to the point where banks can’t even GIVE their REOs away, we are nowhere near the bottom.

Until shell-shocked homeowners stop qualifying their comments about prices being down by suggesting that the market will pick up soon, we are nowhere near the bottom.

Until our nation, as a whole, decides to “throw in the towel” on real estate ownership as a good idea, we are nowhere near the bottom.

Enough of the silly bottom-calling by all the dreamers out there. This thing is far from over, especially in the markets that did the “best” during the first five years of this decade.

Be prepared for extreme pain.

[lendingbubblecontinues]

Look, until we get to the point where banks can’t even GIVE their REOs away, we are nowhere near the bottom.

Until shell-shocked homeowners stop qualifying their comments about prices being down by suggesting that the market will pick up soon, we are nowhere near the bottom.

Until our nation, as a whole, decides to “throw in the towel” on real estate ownership as a good idea, we are nowhere near the bottom.

Enough of the silly bottom-calling by all the dreamers out there. This thing is far from over, especially in the markets that did the “best” during the first five years of this decade.

Be prepared for extreme pain.

[lendingbubblecontinues]

Look, until we get to the point where banks can’t even GIVE their REOs away, we are nowhere near the bottom.

Until shell-shocked homeowners stop qualifying their comments about prices being down by suggesting that the market will pick up soon, we are nowhere near the bottom.

Until our nation, as a whole, decides to “throw in the towel” on real estate ownership as a good idea, we are nowhere near the bottom.

Enough of the silly bottom-calling by all the dreamers out there. This thing is far from over, especially in the markets that did the “best” during the first five years of this decade.

Be prepared for extreme pain.

[lendingbubblecontinues]

Look, until we get to the point where banks can’t even GIVE their REOs away, we are nowhere near the bottom.

Until shell-shocked homeowners stop qualifying their comments about prices being down by suggesting that the market will pick up soon, we are nowhere near the bottom.

Until our nation, as a whole, decides to “throw in the towel” on real estate ownership as a good idea, we are nowhere near the bottom.

Enough of the silly bottom-calling by all the dreamers out there. This thing is far from over, especially in the markets that did the “best” during the first five years of this decade.

Be prepared for extreme pain.

[lendingbubblecontinues]

Look, until we get to the point where banks can’t even GIVE their REOs away, we are nowhere near the bottom.

Until shell-shocked homeowners stop qualifying their comments about prices being down by suggesting that the market will pick up soon, we are nowhere near the bottom.

Until our nation, as a whole, decides to “throw in the towel” on real estate ownership as a good idea, we are nowhere near the bottom.

Enough of the silly bottom-calling by all the dreamers out there. This thing is far from over, especially in the markets that did the “best” during the first five years of this decade.

Be prepared for extreme pain.

[cr]

gd, I don’t think it matters when all signs point down.

This decline was the “sharpest first-quarter decline since the government began tracking the data 17 years ago.”

http://www.cnbc.com/id/24774352

Things are deteriorating at an increasing pace. The seasonal increase in sales recently reported (thanks to foreclosures) are an illusory positive. Not to mention they are yet to be “revised.”

Raising conforming limits is virtually pointless b/c down payments are back and most people looking at $500k+ homes don’t have $100k+ in the bank.

Get ready for new foreclosure and inventory records.

[cr]

gd, I don’t think it matters when all signs point down.

This decline was the “sharpest first-quarter decline since the government began tracking the data 17 years ago.”

http://www.cnbc.com/id/24774352

Things are deteriorating at an increasing pace. The seasonal increase in sales recently reported (thanks to foreclosures) are an illusory positive. Not to mention they are yet to be “revised.”

Raising conforming limits is virtually pointless b/c down payments are back and most people looking at $500k+ homes don’t have $100k+ in the bank.

Get ready for new foreclosure and inventory records.

[cr]

gd, I don’t think it matters when all signs point down.

This decline was the “sharpest first-quarter decline since the government began tracking the data 17 years ago.”

http://www.cnbc.com/id/24774352

Things are deteriorating at an increasing pace. The seasonal increase in sales recently reported (thanks to foreclosures) are an illusory positive. Not to mention they are yet to be “revised.”

Raising conforming limits is virtually pointless b/c down payments are back and most people looking at $500k+ homes don’t have $100k+ in the bank.

Get ready for new foreclosure and inventory records.

[cr]

gd, I don’t think it matters when all signs point down.

This decline was the “sharpest first-quarter decline since the government began tracking the data 17 years ago.”

http://www.cnbc.com/id/24774352

Things are deteriorating at an increasing pace. The seasonal increase in sales recently reported (thanks to foreclosures) are an illusory positive. Not to mention they are yet to be “revised.”

Raising conforming limits is virtually pointless b/c down payments are back and most people looking at $500k+ homes don’t have $100k+ in the bank.

Get ready for new foreclosure and inventory records.

[cr]

gd, I don’t think it matters when all signs point down.

This decline was the “sharpest first-quarter decline since the government began tracking the data 17 years ago.”

http://www.cnbc.com/id/24774352

Things are deteriorating at an increasing pace. The seasonal increase in sales recently reported (thanks to foreclosures) are an illusory positive. Not to mention they are yet to be “revised.”

Raising conforming limits is virtually pointless b/c down payments are back and most people looking at $500k+ homes don’t have $100k+ in the bank.

Get ready for new foreclosure and inventory records.

[JWM in SD]

“Raising conforming limits is virtually pointless b/c down payments are back and most people looking at $500k+ homes don’t have $100k+ in the bank.”

Hey, it’s San Diego, everybody has at least that much in the bank. Don’t you know that everyone here is a VP of Engineering at Qualcomm or some no-name biotech burning private equity / vulture capital money?? Come on now, enough with the silly doom talk.

Sarcasm Off.

[JWM in SD]

“Raising conforming limits is virtually pointless b/c down payments are back and most people looking at $500k+ homes don’t have $100k+ in the bank.”

Hey, it’s San Diego, everybody has at least that much in the bank. Don’t you know that everyone here is a VP of Engineering at Qualcomm or some no-name biotech burning private equity / vulture capital money?? Come on now, enough with the silly doom talk.

Sarcasm Off.

[JWM in SD]

“Raising conforming limits is virtually pointless b/c down payments are back and most people looking at $500k+ homes don’t have $100k+ in the bank.”

Hey, it’s San Diego, everybody has at least that much in the bank. Don’t you know that everyone here is a VP of Engineering at Qualcomm or some no-name biotech burning private equity / vulture capital money?? Come on now, enough with the silly doom talk.

Sarcasm Off.

[JWM in SD]

“Raising conforming limits is virtually pointless b/c down payments are back and most people looking at $500k+ homes don’t have $100k+ in the bank.”

Hey, it’s San Diego, everybody has at least that much in the bank. Don’t you know that everyone here is a VP of Engineering at Qualcomm or some no-name biotech burning private equity / vulture capital money?? Come on now, enough with the silly doom talk.

Sarcasm Off.

[Author]

Posts