Home › Forums › Financial Markets/Economics › National Association of Realtors Calls for Bottom
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4plexowner.
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AuthorPosts
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December 10, 2007 at 8:22 AM #11153
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December 10, 2007 at 9:31 AM #112854
(former)FormerSanDiegan
ParticipantWhat was the NAR prediction for 2007 as of Dec 2006 ?
Is this what they saw coming:
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December 10, 2007 at 9:48 AM #112859
(former)FormerSanDiegan
ParticipantAll real estate is local, right:
The CAR is predicting a 4% decline in CA median for 2008 and a 9% decline in sales.
In 2006 the CAR predicted a 2007 median price decline of 2% in California and a decrease in sales of 7%.
The title of this thread should be: NAR calls for a bottom, California still screwed.
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December 10, 2007 at 9:48 AM #112976
(former)FormerSanDiegan
ParticipantAll real estate is local, right:
The CAR is predicting a 4% decline in CA median for 2008 and a 9% decline in sales.
In 2006 the CAR predicted a 2007 median price decline of 2% in California and a decrease in sales of 7%.
The title of this thread should be: NAR calls for a bottom, California still screwed.
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December 10, 2007 at 9:48 AM #113016
(former)FormerSanDiegan
ParticipantAll real estate is local, right:
The CAR is predicting a 4% decline in CA median for 2008 and a 9% decline in sales.
In 2006 the CAR predicted a 2007 median price decline of 2% in California and a decrease in sales of 7%.
The title of this thread should be: NAR calls for a bottom, California still screwed.
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December 10, 2007 at 9:48 AM #113024
(former)FormerSanDiegan
ParticipantAll real estate is local, right:
The CAR is predicting a 4% decline in CA median for 2008 and a 9% decline in sales.
In 2006 the CAR predicted a 2007 median price decline of 2% in California and a decrease in sales of 7%.
The title of this thread should be: NAR calls for a bottom, California still screwed.
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December 10, 2007 at 9:48 AM #113058
(former)FormerSanDiegan
ParticipantAll real estate is local, right:
The CAR is predicting a 4% decline in CA median for 2008 and a 9% decline in sales.
In 2006 the CAR predicted a 2007 median price decline of 2% in California and a decrease in sales of 7%.
The title of this thread should be: NAR calls for a bottom, California still screwed.
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December 10, 2007 at 10:16 AM #112914
JustLurking
ParticipantExisting-Home Sales In 2007 Expected To Recover From Cyclical Low
WASHINGTON, December 11, 2006 – Existing-home sales are expected to rise gradually in 2007 from current levels, with annual totals comparable to 2006, while new-home sales will continue to slide, according to the latest forecast by the National Association of Realtors…
Full press release.
http://www.realtor.org/press_room/news_releases/2006/hef_dec06_existing_home_sales_in_2007.html
Deja vu…
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December 10, 2007 at 10:16 AM #113031
JustLurking
ParticipantExisting-Home Sales In 2007 Expected To Recover From Cyclical Low
WASHINGTON, December 11, 2006 – Existing-home sales are expected to rise gradually in 2007 from current levels, with annual totals comparable to 2006, while new-home sales will continue to slide, according to the latest forecast by the National Association of Realtors…
Full press release.
http://www.realtor.org/press_room/news_releases/2006/hef_dec06_existing_home_sales_in_2007.html
Deja vu…
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December 10, 2007 at 10:16 AM #113072
JustLurking
ParticipantExisting-Home Sales In 2007 Expected To Recover From Cyclical Low
WASHINGTON, December 11, 2006 – Existing-home sales are expected to rise gradually in 2007 from current levels, with annual totals comparable to 2006, while new-home sales will continue to slide, according to the latest forecast by the National Association of Realtors…
Full press release.
http://www.realtor.org/press_room/news_releases/2006/hef_dec06_existing_home_sales_in_2007.html
Deja vu…
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December 10, 2007 at 10:16 AM #113079
JustLurking
ParticipantExisting-Home Sales In 2007 Expected To Recover From Cyclical Low
WASHINGTON, December 11, 2006 – Existing-home sales are expected to rise gradually in 2007 from current levels, with annual totals comparable to 2006, while new-home sales will continue to slide, according to the latest forecast by the National Association of Realtors…
Full press release.
http://www.realtor.org/press_room/news_releases/2006/hef_dec06_existing_home_sales_in_2007.html
Deja vu…
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December 10, 2007 at 10:16 AM #113113
JustLurking
ParticipantExisting-Home Sales In 2007 Expected To Recover From Cyclical Low
WASHINGTON, December 11, 2006 – Existing-home sales are expected to rise gradually in 2007 from current levels, with annual totals comparable to 2006, while new-home sales will continue to slide, according to the latest forecast by the National Association of Realtors…
Full press release.
http://www.realtor.org/press_room/news_releases/2006/hef_dec06_existing_home_sales_in_2007.html
Deja vu…
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December 10, 2007 at 9:31 AM #112972
(former)FormerSanDiegan
ParticipantWhat was the NAR prediction for 2007 as of Dec 2006 ?
Is this what they saw coming:
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December 10, 2007 at 9:31 AM #113012
(former)FormerSanDiegan
ParticipantWhat was the NAR prediction for 2007 as of Dec 2006 ?
Is this what they saw coming:
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December 10, 2007 at 9:31 AM #113019
(former)FormerSanDiegan
ParticipantWhat was the NAR prediction for 2007 as of Dec 2006 ?
Is this what they saw coming:
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December 10, 2007 at 9:31 AM #113053
(former)FormerSanDiegan
ParticipantWhat was the NAR prediction for 2007 as of Dec 2006 ?
Is this what they saw coming:
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December 10, 2007 at 10:23 AM #112929
cr
ParticipantYun is a bigger tool than Lereah. I don’t think anyone cares what these people “predict” anymore.
NAR chief economist Lawrence Yun said the worst part of the credit crunch has been accounted for in the data…
The worst is yet to come Chief.
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December 10, 2007 at 10:37 AM #112964
(former)FormerSanDiegan
ParticipantThanks, just Lurking. That was cool.
My favorite quote :
“By the fourth quarter of 2007, existing-home sales will be 4.6 percent higher than the current quarter,” Lereah said.
The funny thing is that they were pretty close on all the economic indicators EXCEPT for housing.
The unemployment rate is expected to be 4.8 percent in 2007, after averaging an estimated 4.6 percent this year. Inflation, as measured by the Consumer Price Index, is forecast to be 3.4 percent for 2006 and 2.3 percent in 2007, while growth in the U.S. gross domestic product is likely to be 3.3 percent for all of this year and 2.3 percent in 2007. Inflation-adjusted disposable personal income is projected to grow 2.6 percent for 2006 and 3.5 percent next year.
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December 10, 2007 at 11:23 AM #113054
Portlock
ParticipantHow the hell have mortgage conditions gotten ‘better’? I hope he means tighter lending standards signal a return to fundamentals, which will be ‘better’ for everyone in the future.
Can I suggest that jumbo loan application approvals will probably decrease, and there will be a mad rush for sellers to lower there asking prices below $417k? Maybe it isn’t that simple…
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December 10, 2007 at 11:52 AM #113120
(former)FormerSanDiegan
ParticipantHow the hell have mortgage conditions gotten ‘better’?
I think they meant in the very short -term. From the initial panic in August-September to now. Remember, at the initial stages of the panic many programs stopped and getting a loan funded at all was very difficult. Jumbos were well over 1 point higher than conventional. Over time, various loan programs seem to have come back on line and the spread between Jumbos and conforming is closer to 0.5%.
So, basically they are saying that sales have improved slightly from a pretty horrendous rate. Note that even at this slightly higher sales rate that sales are less than they were at this time in 2001, in the months after 9/11.
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December 10, 2007 at 3:11 PM #113255
cr
ParticipantI think he means conditions in which bad mortgages were made have been corrected so logically we’ve seen all the bad mortgages default, and we’re through the worst of it.
Phew!
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December 10, 2007 at 6:39 PM #113512
4plexowner
ParticipantMish says: “yet another fantasyland call from the NAR”
http://globaleconomicanalysis.blogspot.com/2007/12/another-fantasyland-call-from-nar.html
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December 10, 2007 at 6:39 PM #113632
4plexowner
ParticipantMish says: “yet another fantasyland call from the NAR”
http://globaleconomicanalysis.blogspot.com/2007/12/another-fantasyland-call-from-nar.html
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December 10, 2007 at 6:39 PM #113673
4plexowner
ParticipantMish says: “yet another fantasyland call from the NAR”
http://globaleconomicanalysis.blogspot.com/2007/12/another-fantasyland-call-from-nar.html
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December 10, 2007 at 6:39 PM #113679
4plexowner
ParticipantMish says: “yet another fantasyland call from the NAR”
http://globaleconomicanalysis.blogspot.com/2007/12/another-fantasyland-call-from-nar.html
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December 10, 2007 at 6:39 PM #113715
4plexowner
ParticipantMish says: “yet another fantasyland call from the NAR”
http://globaleconomicanalysis.blogspot.com/2007/12/another-fantasyland-call-from-nar.html
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December 10, 2007 at 3:11 PM #113371
cr
ParticipantI think he means conditions in which bad mortgages were made have been corrected so logically we’ve seen all the bad mortgages default, and we’re through the worst of it.
Phew!
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December 10, 2007 at 3:11 PM #113412
cr
ParticipantI think he means conditions in which bad mortgages were made have been corrected so logically we’ve seen all the bad mortgages default, and we’re through the worst of it.
Phew!
-
December 10, 2007 at 3:11 PM #113417
cr
ParticipantI think he means conditions in which bad mortgages were made have been corrected so logically we’ve seen all the bad mortgages default, and we’re through the worst of it.
Phew!
-
December 10, 2007 at 3:11 PM #113455
cr
ParticipantI think he means conditions in which bad mortgages were made have been corrected so logically we’ve seen all the bad mortgages default, and we’re through the worst of it.
Phew!
-
December 10, 2007 at 11:52 AM #113236
(former)FormerSanDiegan
ParticipantHow the hell have mortgage conditions gotten ‘better’?
I think they meant in the very short -term. From the initial panic in August-September to now. Remember, at the initial stages of the panic many programs stopped and getting a loan funded at all was very difficult. Jumbos were well over 1 point higher than conventional. Over time, various loan programs seem to have come back on line and the spread between Jumbos and conforming is closer to 0.5%.
So, basically they are saying that sales have improved slightly from a pretty horrendous rate. Note that even at this slightly higher sales rate that sales are less than they were at this time in 2001, in the months after 9/11.
-
December 10, 2007 at 11:52 AM #113277
(former)FormerSanDiegan
ParticipantHow the hell have mortgage conditions gotten ‘better’?
I think they meant in the very short -term. From the initial panic in August-September to now. Remember, at the initial stages of the panic many programs stopped and getting a loan funded at all was very difficult. Jumbos were well over 1 point higher than conventional. Over time, various loan programs seem to have come back on line and the spread between Jumbos and conforming is closer to 0.5%.
So, basically they are saying that sales have improved slightly from a pretty horrendous rate. Note that even at this slightly higher sales rate that sales are less than they were at this time in 2001, in the months after 9/11.
-
December 10, 2007 at 11:52 AM #113283
(former)FormerSanDiegan
ParticipantHow the hell have mortgage conditions gotten ‘better’?
I think they meant in the very short -term. From the initial panic in August-September to now. Remember, at the initial stages of the panic many programs stopped and getting a loan funded at all was very difficult. Jumbos were well over 1 point higher than conventional. Over time, various loan programs seem to have come back on line and the spread between Jumbos and conforming is closer to 0.5%.
So, basically they are saying that sales have improved slightly from a pretty horrendous rate. Note that even at this slightly higher sales rate that sales are less than they were at this time in 2001, in the months after 9/11.
-
December 10, 2007 at 11:52 AM #113320
(former)FormerSanDiegan
ParticipantHow the hell have mortgage conditions gotten ‘better’?
I think they meant in the very short -term. From the initial panic in August-September to now. Remember, at the initial stages of the panic many programs stopped and getting a loan funded at all was very difficult. Jumbos were well over 1 point higher than conventional. Over time, various loan programs seem to have come back on line and the spread between Jumbos and conforming is closer to 0.5%.
So, basically they are saying that sales have improved slightly from a pretty horrendous rate. Note that even at this slightly higher sales rate that sales are less than they were at this time in 2001, in the months after 9/11.
-
December 10, 2007 at 11:23 AM #113171
Portlock
ParticipantHow the hell have mortgage conditions gotten ‘better’? I hope he means tighter lending standards signal a return to fundamentals, which will be ‘better’ for everyone in the future.
Can I suggest that jumbo loan application approvals will probably decrease, and there will be a mad rush for sellers to lower there asking prices below $417k? Maybe it isn’t that simple…
-
December 10, 2007 at 11:23 AM #113212
Portlock
ParticipantHow the hell have mortgage conditions gotten ‘better’? I hope he means tighter lending standards signal a return to fundamentals, which will be ‘better’ for everyone in the future.
Can I suggest that jumbo loan application approvals will probably decrease, and there will be a mad rush for sellers to lower there asking prices below $417k? Maybe it isn’t that simple…
-
December 10, 2007 at 11:23 AM #113219
Portlock
ParticipantHow the hell have mortgage conditions gotten ‘better’? I hope he means tighter lending standards signal a return to fundamentals, which will be ‘better’ for everyone in the future.
Can I suggest that jumbo loan application approvals will probably decrease, and there will be a mad rush for sellers to lower there asking prices below $417k? Maybe it isn’t that simple…
-
December 10, 2007 at 11:23 AM #113254
Portlock
ParticipantHow the hell have mortgage conditions gotten ‘better’? I hope he means tighter lending standards signal a return to fundamentals, which will be ‘better’ for everyone in the future.
Can I suggest that jumbo loan application approvals will probably decrease, and there will be a mad rush for sellers to lower there asking prices below $417k? Maybe it isn’t that simple…
-
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December 10, 2007 at 10:37 AM #113081
(former)FormerSanDiegan
ParticipantThanks, just Lurking. That was cool.
My favorite quote :
“By the fourth quarter of 2007, existing-home sales will be 4.6 percent higher than the current quarter,” Lereah said.
The funny thing is that they were pretty close on all the economic indicators EXCEPT for housing.
The unemployment rate is expected to be 4.8 percent in 2007, after averaging an estimated 4.6 percent this year. Inflation, as measured by the Consumer Price Index, is forecast to be 3.4 percent for 2006 and 2.3 percent in 2007, while growth in the U.S. gross domestic product is likely to be 3.3 percent for all of this year and 2.3 percent in 2007. Inflation-adjusted disposable personal income is projected to grow 2.6 percent for 2006 and 3.5 percent next year.
-
December 10, 2007 at 10:37 AM #113122
(former)FormerSanDiegan
ParticipantThanks, just Lurking. That was cool.
My favorite quote :
“By the fourth quarter of 2007, existing-home sales will be 4.6 percent higher than the current quarter,” Lereah said.
The funny thing is that they were pretty close on all the economic indicators EXCEPT for housing.
The unemployment rate is expected to be 4.8 percent in 2007, after averaging an estimated 4.6 percent this year. Inflation, as measured by the Consumer Price Index, is forecast to be 3.4 percent for 2006 and 2.3 percent in 2007, while growth in the U.S. gross domestic product is likely to be 3.3 percent for all of this year and 2.3 percent in 2007. Inflation-adjusted disposable personal income is projected to grow 2.6 percent for 2006 and 3.5 percent next year.
-
December 10, 2007 at 10:37 AM #113129
(former)FormerSanDiegan
ParticipantThanks, just Lurking. That was cool.
My favorite quote :
“By the fourth quarter of 2007, existing-home sales will be 4.6 percent higher than the current quarter,” Lereah said.
The funny thing is that they were pretty close on all the economic indicators EXCEPT for housing.
The unemployment rate is expected to be 4.8 percent in 2007, after averaging an estimated 4.6 percent this year. Inflation, as measured by the Consumer Price Index, is forecast to be 3.4 percent for 2006 and 2.3 percent in 2007, while growth in the U.S. gross domestic product is likely to be 3.3 percent for all of this year and 2.3 percent in 2007. Inflation-adjusted disposable personal income is projected to grow 2.6 percent for 2006 and 3.5 percent next year.
-
December 10, 2007 at 10:37 AM #113163
(former)FormerSanDiegan
ParticipantThanks, just Lurking. That was cool.
My favorite quote :
“By the fourth quarter of 2007, existing-home sales will be 4.6 percent higher than the current quarter,” Lereah said.
The funny thing is that they were pretty close on all the economic indicators EXCEPT for housing.
The unemployment rate is expected to be 4.8 percent in 2007, after averaging an estimated 4.6 percent this year. Inflation, as measured by the Consumer Price Index, is forecast to be 3.4 percent for 2006 and 2.3 percent in 2007, while growth in the U.S. gross domestic product is likely to be 3.3 percent for all of this year and 2.3 percent in 2007. Inflation-adjusted disposable personal income is projected to grow 2.6 percent for 2006 and 3.5 percent next year.
-
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December 10, 2007 at 10:23 AM #113047
cr
ParticipantYun is a bigger tool than Lereah. I don’t think anyone cares what these people “predict” anymore.
NAR chief economist Lawrence Yun said the worst part of the credit crunch has been accounted for in the data…
The worst is yet to come Chief.
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December 10, 2007 at 10:23 AM #113087
cr
ParticipantYun is a bigger tool than Lereah. I don’t think anyone cares what these people “predict” anymore.
NAR chief economist Lawrence Yun said the worst part of the credit crunch has been accounted for in the data…
The worst is yet to come Chief.
-
December 10, 2007 at 10:23 AM #113094
cr
ParticipantYun is a bigger tool than Lereah. I don’t think anyone cares what these people “predict” anymore.
NAR chief economist Lawrence Yun said the worst part of the credit crunch has been accounted for in the data…
The worst is yet to come Chief.
-
December 10, 2007 at 10:23 AM #113128
cr
ParticipantYun is a bigger tool than Lereah. I don’t think anyone cares what these people “predict” anymore.
NAR chief economist Lawrence Yun said the worst part of the credit crunch has been accounted for in the data…
The worst is yet to come Chief.
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