Knife catchers jump in

[peterb]

I think this and “investors” buying right now is exactly why there’s some activity in the market of a very slightly positive note. Pent up demand, if you will.
But this does not change the fundementals of the market. It’s getting worse.
As much as many people like to equate all kinds of emotional reasons for purchasing a home, it’s still the biggest single purchase most people make in their lives. And financial decisions of this magnitude should be considered carefully as they can have lasting effects on ones future options in life.

[LA_Renter]

I think we are getting ready to hear a strong chorus of bottom callers…..Again! It always happens this time of year as the actual selling season comes to a close and it gives way to speculation for next year. Cramer’s article last week calling a bottom is leading the charge…..Again! As has been stated the fundamentals are not suggesting a bottom, CA is in a Recession and that will more than likely get worse, the financial crisis is moving up the food chain into ALT-A and Prime, Banks are not lending due to the high cost of borrowing, etc, etc, etc. There is pent up demand on the sidelines but not as much as you would think, the lax lending that lead to this disaster pulled a significant amount of future demand in.

I think the same principals hold true when making a decision to buy a home in this environment, if you find a home you like that is within your means and have a high degree of confidence of holding onto the property for the next 7 years, no harm done, any other scenario the risks outweigh benefits IMHO.

[LA_Renter]

I think we are getting ready to hear a strong chorus of bottom callers…..Again! It always happens this time of year as the actual selling season comes to a close and it gives way to speculation for next year. Cramer’s article last week calling a bottom is leading the charge…..Again! As has been stated the fundamentals are not suggesting a bottom, CA is in a Recession and that will more than likely get worse, the financial crisis is moving up the food chain into ALT-A and Prime, Banks are not lending due to the high cost of borrowing, etc, etc, etc. There is pent up demand on the sidelines but not as much as you would think, the lax lending that lead to this disaster pulled a significant amount of future demand in.

I think the same principals hold true when making a decision to buy a home in this environment, if you find a home you like that is within your means and have a high degree of confidence of holding onto the property for the next 7 years, no harm done, any other scenario the risks outweigh benefits IMHO.

[LA_Renter]

I think we are getting ready to hear a strong chorus of bottom callers…..Again! It always happens this time of year as the actual selling season comes to a close and it gives way to speculation for next year. Cramer’s article last week calling a bottom is leading the charge…..Again! As has been stated the fundamentals are not suggesting a bottom, CA is in a Recession and that will more than likely get worse, the financial crisis is moving up the food chain into ALT-A and Prime, Banks are not lending due to the high cost of borrowing, etc, etc, etc. There is pent up demand on the sidelines but not as much as you would think, the lax lending that lead to this disaster pulled a significant amount of future demand in.

I think the same principals hold true when making a decision to buy a home in this environment, if you find a home you like that is within your means and have a high degree of confidence of holding onto the property for the next 7 years, no harm done, any other scenario the risks outweigh benefits IMHO.

[LA_Renter]

I think we are getting ready to hear a strong chorus of bottom callers…..Again! It always happens this time of year as the actual selling season comes to a close and it gives way to speculation for next year. Cramer’s article last week calling a bottom is leading the charge…..Again! As has been stated the fundamentals are not suggesting a bottom, CA is in a Recession and that will more than likely get worse, the financial crisis is moving up the food chain into ALT-A and Prime, Banks are not lending due to the high cost of borrowing, etc, etc, etc. There is pent up demand on the sidelines but not as much as you would think, the lax lending that lead to this disaster pulled a significant amount of future demand in.

I think the same principals hold true when making a decision to buy a home in this environment, if you find a home you like that is within your means and have a high degree of confidence of holding onto the property for the next 7 years, no harm done, any other scenario the risks outweigh benefits IMHO.

[LA_Renter]

I think we are getting ready to hear a strong chorus of bottom callers…..Again! It always happens this time of year as the actual selling season comes to a close and it gives way to speculation for next year. Cramer’s article last week calling a bottom is leading the charge…..Again! As has been stated the fundamentals are not suggesting a bottom, CA is in a Recession and that will more than likely get worse, the financial crisis is moving up the food chain into ALT-A and Prime, Banks are not lending due to the high cost of borrowing, etc, etc, etc. There is pent up demand on the sidelines but not as much as you would think, the lax lending that lead to this disaster pulled a significant amount of future demand in.

I think the same principals hold true when making a decision to buy a home in this environment, if you find a home you like that is within your means and have a high degree of confidence of holding onto the property for the next 7 years, no harm done, any other scenario the risks outweigh benefits IMHO.

[Anonymous]

I think July was the first month to see YOY increases in home sales this year, but after such a dismal 2007 selling season it was bound to happen at some point. Looking back at the last housing bust, foreclosures were not a leading indicator of a bust/recovery, but notices of default were. The big difference this time is that the housing bust itself is what’s causing foreclosure, in the past it’s typically the loss of jobs/income that does it.

We already are seeing more NOD’s than home sales and over the next six months I expect we’ll see more foreclosures than home sales. The only way this doesn’t happen is even more massive government intervention or somehow sales increasing month to month after summer is over through the winter.

[Anonymous]

I think July was the first month to see YOY increases in home sales this year, but after such a dismal 2007 selling season it was bound to happen at some point. Looking back at the last housing bust, foreclosures were not a leading indicator of a bust/recovery, but notices of default were. The big difference this time is that the housing bust itself is what’s causing foreclosure, in the past it’s typically the loss of jobs/income that does it.

We already are seeing more NOD’s than home sales and over the next six months I expect we’ll see more foreclosures than home sales. The only way this doesn’t happen is even more massive government intervention or somehow sales increasing month to month after summer is over through the winter.

[Anonymous]

I think July was the first month to see YOY increases in home sales this year, but after such a dismal 2007 selling season it was bound to happen at some point. Looking back at the last housing bust, foreclosures were not a leading indicator of a bust/recovery, but notices of default were. The big difference this time is that the housing bust itself is what’s causing foreclosure, in the past it’s typically the loss of jobs/income that does it.

We already are seeing more NOD’s than home sales and over the next six months I expect we’ll see more foreclosures than home sales. The only way this doesn’t happen is even more massive government intervention or somehow sales increasing month to month after summer is over through the winter.

[Anonymous]

I think July was the first month to see YOY increases in home sales this year, but after such a dismal 2007 selling season it was bound to happen at some point. Looking back at the last housing bust, foreclosures were not a leading indicator of a bust/recovery, but notices of default were. The big difference this time is that the housing bust itself is what’s causing foreclosure, in the past it’s typically the loss of jobs/income that does it.

We already are seeing more NOD’s than home sales and over the next six months I expect we’ll see more foreclosures than home sales. The only way this doesn’t happen is even more massive government intervention or somehow sales increasing month to month after summer is over through the winter.

[Anonymous]

I think July was the first month to see YOY increases in home sales this year, but after such a dismal 2007 selling season it was bound to happen at some point. Looking back at the last housing bust, foreclosures were not a leading indicator of a bust/recovery, but notices of default were. The big difference this time is that the housing bust itself is what’s causing foreclosure, in the past it’s typically the loss of jobs/income that does it.

We already are seeing more NOD’s than home sales and over the next six months I expect we’ll see more foreclosures than home sales. The only way this doesn’t happen is even more massive government intervention or somehow sales increasing month to month after summer is over through the winter.

[peterb]

Check out Mr Mortgage on foreclore and NOD data.

Unemployment is rising, credit is constricting and now it looks like a global recession is coming as well. Oh, and the RE sales season is comning to an end.

If any of this spells a bottom, please someone, explain it to me!!

[peterb]

Check out Mr Mortgage on foreclore and NOD data.

Unemployment is rising, credit is constricting and now it looks like a global recession is coming as well. Oh, and the RE sales season is comning to an end.

If any of this spells a bottom, please someone, explain it to me!!

[peterb]

Check out Mr Mortgage on foreclore and NOD data.

Unemployment is rising, credit is constricting and now it looks like a global recession is coming as well. Oh, and the RE sales season is comning to an end.

If any of this spells a bottom, please someone, explain it to me!!

[peterb]

Check out Mr Mortgage on foreclore and NOD data.

Unemployment is rising, credit is constricting and now it looks like a global recession is coming as well. Oh, and the RE sales season is comning to an end.

If any of this spells a bottom, please someone, explain it to me!!

[Author]

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