Home sales continue plunge

[SanDiegoDave]

I think it’s time for OCRenter to crank back up the bubble markets inventory site and expose the apparently still-growing lists of delusional underwater sellers.

We could still be on our way to Year 2000 nominal pricing.

[Arraya]

Regarding expectations:

http://www.reuters.com/article/idUSTRE63R2IH20100428

Consumers remain unsure about the direction of the housing market, but are optimistic about real estate values, with 46 percent expecting prices in their area to increase over the next year. Just 12 percent expect prices to decline, the survey found.

Gee, do you think expectations have anything to do with their decision to purchase?

Another month or two of bad numbers coupled with a dow below 10K, will deter many potential able buyers, of the quickly depleting pool, and exacerbate the downward trend. Actually, when you think about it, the tax credit probably made the next downtrend more severe because it pulled demand forward and further depleted the pool. The Fed is squeezing blood from a turnip at this point.

[Arraya]

Regarding expectations:

http://www.reuters.com/article/idUSTRE63R2IH20100428

Consumers remain unsure about the direction of the housing market, but are optimistic about real estate values, with 46 percent expecting prices in their area to increase over the next year. Just 12 percent expect prices to decline, the survey found.

Gee, do you think expectations have anything to do with their decision to purchase?

Another month or two of bad numbers coupled with a dow below 10K, will deter many potential able buyers, of the quickly depleting pool, and exacerbate the downward trend. Actually, when you think about it, the tax credit probably made the next downtrend more severe because it pulled demand forward and further depleted the pool. The Fed is squeezing blood from a turnip at this point.

[Arraya]

Regarding expectations:

http://www.reuters.com/article/idUSTRE63R2IH20100428

Consumers remain unsure about the direction of the housing market, but are optimistic about real estate values, with 46 percent expecting prices in their area to increase over the next year. Just 12 percent expect prices to decline, the survey found.

Gee, do you think expectations have anything to do with their decision to purchase?

Another month or two of bad numbers coupled with a dow below 10K, will deter many potential able buyers, of the quickly depleting pool, and exacerbate the downward trend. Actually, when you think about it, the tax credit probably made the next downtrend more severe because it pulled demand forward and further depleted the pool. The Fed is squeezing blood from a turnip at this point.

[Arraya]

Regarding expectations:

http://www.reuters.com/article/idUSTRE63R2IH20100428

Consumers remain unsure about the direction of the housing market, but are optimistic about real estate values, with 46 percent expecting prices in their area to increase over the next year. Just 12 percent expect prices to decline, the survey found.

Gee, do you think expectations have anything to do with their decision to purchase?

Another month or two of bad numbers coupled with a dow below 10K, will deter many potential able buyers, of the quickly depleting pool, and exacerbate the downward trend. Actually, when you think about it, the tax credit probably made the next downtrend more severe because it pulled demand forward and further depleted the pool. The Fed is squeezing blood from a turnip at this point.

[Arraya]

Regarding expectations:

http://www.reuters.com/article/idUSTRE63R2IH20100428

Consumers remain unsure about the direction of the housing market, but are optimistic about real estate values, with 46 percent expecting prices in their area to increase over the next year. Just 12 percent expect prices to decline, the survey found.

Gee, do you think expectations have anything to do with their decision to purchase?

Another month or two of bad numbers coupled with a dow below 10K, will deter many potential able buyers, of the quickly depleting pool, and exacerbate the downward trend. Actually, when you think about it, the tax credit probably made the next downtrend more severe because it pulled demand forward and further depleted the pool. The Fed is squeezing blood from a turnip at this point.

[andymajumder]

Not a homeowner…but I would I careful what I wish for. Las Vegas probably has reached or is close to 2000 nominal pricing. But, if that were to happen in SD or in most parts of CaliforniaUS, we would probably be in a depression. Eventually…it doesn’t matter much if you are renter or a owner if you don’t have a job and the country is in a sever depression, things will be very bad for all of us.

[andymajumder]

Not a homeowner…but I would I careful what I wish for. Las Vegas probably has reached or is close to 2000 nominal pricing. But, if that were to happen in SD or in most parts of CaliforniaUS, we would probably be in a depression. Eventually…it doesn’t matter much if you are renter or a owner if you don’t have a job and the country is in a sever depression, things will be very bad for all of us.

[andymajumder]

Not a homeowner…but I would I careful what I wish for. Las Vegas probably has reached or is close to 2000 nominal pricing. But, if that were to happen in SD or in most parts of CaliforniaUS, we would probably be in a depression. Eventually…it doesn’t matter much if you are renter or a owner if you don’t have a job and the country is in a sever depression, things will be very bad for all of us.

[andymajumder]

Not a homeowner…but I would I careful what I wish for. Las Vegas probably has reached or is close to 2000 nominal pricing. But, if that were to happen in SD or in most parts of CaliforniaUS, we would probably be in a depression. Eventually…it doesn’t matter much if you are renter or a owner if you don’t have a job and the country is in a sever depression, things will be very bad for all of us.

[andymajumder]

Not a homeowner…but I would I careful what I wish for. Las Vegas probably has reached or is close to 2000 nominal pricing. But, if that were to happen in SD or in most parts of CaliforniaUS, we would probably be in a depression. Eventually…it doesn’t matter much if you are renter or a owner if you don’t have a job and the country is in a sever depression, things will be very bad for all of us.

[briansd1]

I wonder how many tax credit recipients will walk if we get the double dip.

“From our vantage point, the first-time home-buyers credit pulled forward demand — by definition this is what stimulus measures achieve — however the issue this time is that there was so little demand to be pulled forward, the credit has left no demand for the summer,” Dan Greenhaus, chief economic strategist for Miller Tabak + Co., wrote in a research note Tuesday morning. “The result is exactly what we’re seeing: a near, if not outright, collapse in housing.”

http://www.latimes.com/business/la-fiw-home-sales-20100824,0,4314929.story

[briansd1]

I wonder how many tax credit recipients will walk if we get the double dip.

“From our vantage point, the first-time home-buyers credit pulled forward demand — by definition this is what stimulus measures achieve — however the issue this time is that there was so little demand to be pulled forward, the credit has left no demand for the summer,” Dan Greenhaus, chief economic strategist for Miller Tabak + Co., wrote in a research note Tuesday morning. “The result is exactly what we’re seeing: a near, if not outright, collapse in housing.”

http://www.latimes.com/business/la-fiw-home-sales-20100824,0,4314929.story

[briansd1]

I wonder how many tax credit recipients will walk if we get the double dip.

“From our vantage point, the first-time home-buyers credit pulled forward demand — by definition this is what stimulus measures achieve — however the issue this time is that there was so little demand to be pulled forward, the credit has left no demand for the summer,” Dan Greenhaus, chief economic strategist for Miller Tabak + Co., wrote in a research note Tuesday morning. “The result is exactly what we’re seeing: a near, if not outright, collapse in housing.”

http://www.latimes.com/business/la-fiw-home-sales-20100824,0,4314929.story

[briansd1]

I wonder how many tax credit recipients will walk if we get the double dip.

“From our vantage point, the first-time home-buyers credit pulled forward demand — by definition this is what stimulus measures achieve — however the issue this time is that there was so little demand to be pulled forward, the credit has left no demand for the summer,” Dan Greenhaus, chief economic strategist for Miller Tabak + Co., wrote in a research note Tuesday morning. “The result is exactly what we’re seeing: a near, if not outright, collapse in housing.”

http://www.latimes.com/business/la-fiw-home-sales-20100824,0,4314929.story

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