This guest was a complete liar…Dan Holbrook(sp?), AtVantage Realty in SD. He’s a developer–what do you think he might say about the local housing market?
it was quite amusing how he turned my comment:
“well, here is a specific example of a huge drop — I gave example of the park place property that sold at 100K+ loss, and there are 60 more at: http://sandiegomarketmonitor.blogspot.com”
into:
“well, this is unique to downtown, and (complete non-sequitur) we expect 7% appreciation national appreciation, and perhaps 2% for san diego”
of course, it is pointless arguing with those people, but perhaps some poor soul out there will think twice about jumping into too-deep water
Somehow all this reminds me of this joke: “how can you tell a real-estate economist is lying? His lips are moving”.
I used to listen to Dan Holbrook everyday when I had to commute for work. Over the last year, his tone has change dramatically. Although he still hasn’t admit that RE is falling, last year, he was saying this is the best time to buy and he’s expecting 8-10% appreciation. Now, he’s saying don’t by RE retail, call him and he’ll show you how to buy it wholesale.
Yes, he have his own show. It was around 6-7PM, but now, I think it’s around 3-4PM but have rerun @ 6-7PM. He own Atvantage.com. He’s a developer. He mentioned he was burned the last crash. So we’ll see if he learned his lesson or not.
Shiller is hitting it right on the head saying that psychology is the key factor. Listening to this show has really helped me understand how some people are simply in denial, hanging on to any bit of evidence that the landing will be soft, while demanding that a guy like Shiller prove that there will be a steep downturn.
Anyone know if this was taped earlier this year? Seems dated..
It’s also funny how right after the lady guest mentioned that if you plan to stay in a house 5-10 years, you’re 100% safe from the down turn, he mentioned that there’s a huge boom in the 1880s and it didn’t recover until 1970s. That just come to show nothing is a sure thing.
It’s also funny how right after the lady guest mentioned that if you plan to stay in a house 5-10 years, you’re 100% safe from the down turn, he mentioned that there’s a huge boom in the 1880s and it didn’t recover until 1970s. That just come to show nothing is a sure thing.
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