BusinessWeek: Why housing could fall 25%

[cr]

”…and the Silver Lining
Prices are falling in Britain as well, and to some analysts, that’s just fine. On Jan. 28, The Times of London ran a commentary by a geography professor Chris Hamnett titled, “Great news! House prices are down.” His point: By making homes more affordable, a big price drop will be good for the market’s long-term health.”

I think I’ve heard one main stream comment that declining prices are a good thing. I’m surprised the perma-bulls don’t start pointing to this. Although that would mean they would have to accept that prices are going to fall even further. Of course that means thinking beyond 3 months, which Wall Street, the FED, and our Government can’t do.

Oh the horror when a sub $100,000 HH income can afford a home again!

[kev374]

You must understand that people are in denial because the reality is too painful to accept. These people have either already spent their appreciation or have made grand plans – for instance cash in their equity and retire, take a few cruises, travel the world etc. For some the equity represents their entire retirement plans. For these people their home reprents the jackpot that they have won.

[kev374]

You must understand that people are in denial because the reality is too painful to accept. These people have either already spent their appreciation or have made grand plans – for instance cash in their equity and retire, take a few cruises, travel the world etc. For some the equity represents their entire retirement plans. For these people their home reprents the jackpot that they have won.

[kev374]

You must understand that people are in denial because the reality is too painful to accept. These people have either already spent their appreciation or have made grand plans – for instance cash in their equity and retire, take a few cruises, travel the world etc. For some the equity represents their entire retirement plans. For these people their home reprents the jackpot that they have won.

[kev374]

You must understand that people are in denial because the reality is too painful to accept. These people have either already spent their appreciation or have made grand plans – for instance cash in their equity and retire, take a few cruises, travel the world etc. For some the equity represents their entire retirement plans. For these people their home reprents the jackpot that they have won.

[kev374]

You must understand that people are in denial because the reality is too painful to accept. These people have either already spent their appreciation or have made grand plans – for instance cash in their equity and retire, take a few cruises, travel the world etc. For some the equity represents their entire retirement plans. For these people their home reprents the jackpot that they have won.

[jpinpb]

I owned a house in the previous boom. I tried to sell it in ’93. For a year it sat on the market, the length of the listing, w/not one offer. I didn’t ask anymore than I paid for it when I bought it a few years earlier.

I didn’t need a newspaper to tell me the market changed. I took it off the market and didn’t put it back on until many years later when the market picked up again.

These people are in serious denial. They need to wake up and smell the coffee. The flipping days are over. I say, if you can take riding it out, take it off the market and stop trying to sell something unsellable at a ridiculous price. All they’re doing is flooding the market w/inventory.

IMHO, there is less demand b/c of less qualified buyers. And those that are qualified (I’m one) are looking for a bargain. There are a lot of desperate people out there. More defaults and foreclosures on the way bringing down comps.

[jpinpb]

I owned a house in the previous boom. I tried to sell it in ’93. For a year it sat on the market, the length of the listing, w/not one offer. I didn’t ask anymore than I paid for it when I bought it a few years earlier.

I didn’t need a newspaper to tell me the market changed. I took it off the market and didn’t put it back on until many years later when the market picked up again.

These people are in serious denial. They need to wake up and smell the coffee. The flipping days are over. I say, if you can take riding it out, take it off the market and stop trying to sell something unsellable at a ridiculous price. All they’re doing is flooding the market w/inventory.

IMHO, there is less demand b/c of less qualified buyers. And those that are qualified (I’m one) are looking for a bargain. There are a lot of desperate people out there. More defaults and foreclosures on the way bringing down comps.

[jpinpb]

I owned a house in the previous boom. I tried to sell it in ’93. For a year it sat on the market, the length of the listing, w/not one offer. I didn’t ask anymore than I paid for it when I bought it a few years earlier.

I didn’t need a newspaper to tell me the market changed. I took it off the market and didn’t put it back on until many years later when the market picked up again.

These people are in serious denial. They need to wake up and smell the coffee. The flipping days are over. I say, if you can take riding it out, take it off the market and stop trying to sell something unsellable at a ridiculous price. All they’re doing is flooding the market w/inventory.

IMHO, there is less demand b/c of less qualified buyers. And those that are qualified (I’m one) are looking for a bargain. There are a lot of desperate people out there. More defaults and foreclosures on the way bringing down comps.

[jpinpb]

I owned a house in the previous boom. I tried to sell it in ’93. For a year it sat on the market, the length of the listing, w/not one offer. I didn’t ask anymore than I paid for it when I bought it a few years earlier.

I didn’t need a newspaper to tell me the market changed. I took it off the market and didn’t put it back on until many years later when the market picked up again.

These people are in serious denial. They need to wake up and smell the coffee. The flipping days are over. I say, if you can take riding it out, take it off the market and stop trying to sell something unsellable at a ridiculous price. All they’re doing is flooding the market w/inventory.

IMHO, there is less demand b/c of less qualified buyers. And those that are qualified (I’m one) are looking for a bargain. There are a lot of desperate people out there. More defaults and foreclosures on the way bringing down comps.

[jpinpb]

I owned a house in the previous boom. I tried to sell it in ’93. For a year it sat on the market, the length of the listing, w/not one offer. I didn’t ask anymore than I paid for it when I bought it a few years earlier.

I didn’t need a newspaper to tell me the market changed. I took it off the market and didn’t put it back on until many years later when the market picked up again.

These people are in serious denial. They need to wake up and smell the coffee. The flipping days are over. I say, if you can take riding it out, take it off the market and stop trying to sell something unsellable at a ridiculous price. All they’re doing is flooding the market w/inventory.

IMHO, there is less demand b/c of less qualified buyers. And those that are qualified (I’m one) are looking for a bargain. There are a lot of desperate people out there. More defaults and foreclosures on the way bringing down comps.

[jpinpb]

That was a great article. I enjoyed reading it. I think the best part was the way they ended it: “The Times of London ran a commentary by a geography professor Chris Hamnett titled, “Great news! House prices are down.” His point: By making homes more affordable, a big price drop will be good for the market’s long-term health.”

I think some newspapers here have to adopt that attitude.

[jpinpb]

That was a great article. I enjoyed reading it. I think the best part was the way they ended it: “The Times of London ran a commentary by a geography professor Chris Hamnett titled, “Great news! House prices are down.” His point: By making homes more affordable, a big price drop will be good for the market’s long-term health.”

I think some newspapers here have to adopt that attitude.

[jpinpb]

That was a great article. I enjoyed reading it. I think the best part was the way they ended it: “The Times of London ran a commentary by a geography professor Chris Hamnett titled, “Great news! House prices are down.” His point: By making homes more affordable, a big price drop will be good for the market’s long-term health.”

I think some newspapers here have to adopt that attitude.

[jpinpb]

That was a great article. I enjoyed reading it. I think the best part was the way they ended it: “The Times of London ran a commentary by a geography professor Chris Hamnett titled, “Great news! House prices are down.” His point: By making homes more affordable, a big price drop will be good for the market’s long-term health.”

I think some newspapers here have to adopt that attitude.

[Author]

Posts