Dataquick – We’ve hit the bottom of the Post-Boom

[Alex_angel]

Um yeah rigggghhhht. In today’s UT there is an article about housing slowdown and this clown from dataquick has called this the bottom. Let me ask you this.

A house worth $450k in 2001 went up to $900k in 2005 and is now worth $850k. This is the bottom how? Wouldn’t the bottom be back to $450k? I love how the new “bottom” is very close to the top.
What a joke.

[Alex_angel]

From article

DataQuick analyst John Karevoll interpreted the prices and sales as a sign that San Diego real estate may be nearing the bottom of the post-boom period.

“Most of the declines in San Diego have happened,” Karevoll said. “Now it appears to be re-establishing a balance that we have yet to see for the (Southern California) region.”

They do say one thing right.

The credit crunch has had less impact on people who can purchase homes with “conforming” loans of less than $417,000, said Zoltan Pozsar, senior economist for Moodys.com. The higher cost of nonconforming jumbo loans “affects areas where house prices are out of line with fundamentals, like San Diego, like pretty much all of California,” Pozsar said.

[Alex_angel]

From article

DataQuick analyst John Karevoll interpreted the prices and sales as a sign that San Diego real estate may be nearing the bottom of the post-boom period.

“Most of the declines in San Diego have happened,” Karevoll said. “Now it appears to be re-establishing a balance that we have yet to see for the (Southern California) region.”

They do say one thing right.

The credit crunch has had less impact on people who can purchase homes with “conforming” loans of less than $417,000, said Zoltan Pozsar, senior economist for Moodys.com. The higher cost of nonconforming jumbo loans “affects areas where house prices are out of line with fundamentals, like San Diego, like pretty much all of California,” Pozsar said.

[Alex_angel]

From article

DataQuick analyst John Karevoll interpreted the prices and sales as a sign that San Diego real estate may be nearing the bottom of the post-boom period.

“Most of the declines in San Diego have happened,” Karevoll said. “Now it appears to be re-establishing a balance that we have yet to see for the (Southern California) region.”

They do say one thing right.

The credit crunch has had less impact on people who can purchase homes with “conforming” loans of less than $417,000, said Zoltan Pozsar, senior economist for Moodys.com. The higher cost of nonconforming jumbo loans “affects areas where house prices are out of line with fundamentals, like San Diego, like pretty much all of California,” Pozsar said.

[Ex-SD]

Data Quick can write all the “feel good” articles they wish and the UT can print them every single day………..but it’s not going to change the reality of what is happening to the real estate market in bubble markets around the USA. The crap has hit the fan and now it’s going to be blown everywhere that has overpriced housing. My wife and I were discussing this whole mess last night and she said that she remembered us having many conversations back in 2001 and forward about how long this was going to be allowed to go on before either the housing market collapsed or the regulators would call a halt to the foolishness.

I wonder what Data Quick will be saying a year from now when housing prices drop, another 20% and the following year when it drops another X% and it continues until it finally hits the bottom? And will the UT keep reporting what Data Quick says, undisputed……… despite the fact that their predictions are way off the mark? Time will tell.

[Ex-SD]

Data Quick can write all the “feel good” articles they wish and the UT can print them every single day………..but it’s not going to change the reality of what is happening to the real estate market in bubble markets around the USA. The crap has hit the fan and now it’s going to be blown everywhere that has overpriced housing. My wife and I were discussing this whole mess last night and she said that she remembered us having many conversations back in 2001 and forward about how long this was going to be allowed to go on before either the housing market collapsed or the regulators would call a halt to the foolishness.

I wonder what Data Quick will be saying a year from now when housing prices drop, another 20% and the following year when it drops another X% and it continues until it finally hits the bottom? And will the UT keep reporting what Data Quick says, undisputed……… despite the fact that their predictions are way off the mark? Time will tell.

[Ex-SD]

Data Quick can write all the “feel good” articles they wish and the UT can print them every single day………..but it’s not going to change the reality of what is happening to the real estate market in bubble markets around the USA. The crap has hit the fan and now it’s going to be blown everywhere that has overpriced housing. My wife and I were discussing this whole mess last night and she said that she remembered us having many conversations back in 2001 and forward about how long this was going to be allowed to go on before either the housing market collapsed or the regulators would call a halt to the foolishness.

I wonder what Data Quick will be saying a year from now when housing prices drop, another 20% and the following year when it drops another X% and it continues until it finally hits the bottom? And will the UT keep reporting what Data Quick says, undisputed……… despite the fact that their predictions are way off the mark? Time will tell.

[JWM in SD]

“And will the UT keep reporting what Data Quick says, undisputed……… despite the fact that their predictions are way off the mark? Time will tell.”

That all depends on the mix of the UTs ad revenue.

[JWM in SD]

“And will the UT keep reporting what Data Quick says, undisputed……… despite the fact that their predictions are way off the mark? Time will tell.”

That all depends on the mix of the UTs ad revenue.

[JWM in SD]

“And will the UT keep reporting what Data Quick says, undisputed……… despite the fact that their predictions are way off the mark? Time will tell.”

That all depends on the mix of the UTs ad revenue.

[lendingbubblecontinues]

Alright.

Today may be the day that I finally use five minutes of spare time to pick up the phone and call this guy’s dumb ass out. (Karevoll)

His phone number was easy to find the last time I checked. Also, using zabasearch, I found his address to be some average tract home in San Bernardino or Riverside County. How this schmuck is continually trotted out as an authority is beyond me.

It’s time to start taking a stand (like we did with Chamberlin) and sending the message that lies and/or ignorance simply won’t be allowed to be spewed without vigorous challenges from “the masses”. (I’m kidding about “the masses”…somebody used it yesterday to describe us and our “group think” in here)

[lendingbubblecontinues]

Alright.

Today may be the day that I finally use five minutes of spare time to pick up the phone and call this guy’s dumb ass out. (Karevoll)

His phone number was easy to find the last time I checked. Also, using zabasearch, I found his address to be some average tract home in San Bernardino or Riverside County. How this schmuck is continually trotted out as an authority is beyond me.

It’s time to start taking a stand (like we did with Chamberlin) and sending the message that lies and/or ignorance simply won’t be allowed to be spewed without vigorous challenges from “the masses”. (I’m kidding about “the masses”…somebody used it yesterday to describe us and our “group think” in here)

[lendingbubblecontinues]

Alright.

Today may be the day that I finally use five minutes of spare time to pick up the phone and call this guy’s dumb ass out. (Karevoll)

His phone number was easy to find the last time I checked. Also, using zabasearch, I found his address to be some average tract home in San Bernardino or Riverside County. How this schmuck is continually trotted out as an authority is beyond me.

It’s time to start taking a stand (like we did with Chamberlin) and sending the message that lies and/or ignorance simply won’t be allowed to be spewed without vigorous challenges from “the masses”. (I’m kidding about “the masses”…somebody used it yesterday to describe us and our “group think” in here)

[Bugs]

There’s a big difference between being dumb and being dishonest. I don’t think this is a case of “dumb”.

[Bugs]

There’s a big difference between being dumb and being dishonest. I don’t think this is a case of “dumb”.

[Author]

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