How much do you love that sort of frank, crude honesty. He set it up with a little irony. “I don’t want to be too sophisticated here, but ’07 is going to suck, all 12 months of the calendar year.”
He thinks that builders will regain pricing power in 2008, but 07 will suck as they all compete to unload the current inventory glut.
Dr Horton has put their Palisades homes in SAn Elijio Hills on MLS. Is this a sign that things have slowed at Palisade?
When you ask them about the Mello ROOS and HOA they are very evasive. Taxes and the other fees are close to 2%(ouch),a mini mtg.
Of course, many major media outlets only reported that he said 2008 will be a good year, not the ‘suck’ part. Now, even that is misleading. this is what hge really said:
“‘I don’t think ‘08 is going to be a great year, but it’s going to be much better than ‘07,’ he added.”
If 2007 is going to suck, then we should not assume that 2008 will be ‘good’ but instead just better than 2007. If 2007 is down 10%, 2008 could be down 5% and still be better!
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