The American Dream is Alive! Prices increase 130% in 5 years…

[bubble_contagion]

The latest RE article from the U-T is more positive that Rich’s analysis of the October numbers.

The U-T mentions that prices are now up from last month and that inventory has shrank from the summer. Long gone are the year-to-year price increases so now they show a 5+ year appreciation chart precisely targeted from the last bottom to today.

Overall the article is pretty bullish on RE.

http://www.signonsandiego.com/news/business/20061114-9999-1b14housing.html

[santeeman]

I just hope there is still time to get out in April! I saw this article, some people may feel its time to buy my house.

[powayseller]

Why are you waiting until April to “get out”?

[an]

I guess there’s always a way to spin the numbers. I wonder what they’ll say in a couple of years when price declined over 5 years period. They probably start using 10 years :-).

[sdcellar]

From the article:

“This tells me the American Dream is alive,” said Christopher Cagan, director of research and analytics at First American Real Estate Solutions.

Another fine quote from that mouthpiece. I guess he’s comfortable with leaving out “past performance is no indication of future return”.

[santeeman]

I am waiting until April to put it on the market. Gotta fix some things, kids in school, just before summer. I retire 2/08 from the military.

[sdrealtor]

Shoot for early to mid February. The best time to sell is typically between 2/15 and 4/1. Once you hit 4/1 people are focussed on the 15th. After that, all the people with kids thinking like you will be flooding the market and it will be too late.

Just my humble opinion but I’ve made alot of clients very happy by staying a bit ahead of the herd.

[limo_888]

This article point out the reason why we have a housing bubble. the home price increases too much in such a short period to time. If one was to look at pricing data, one would see the deep trouble that we are facing. Here is link that give a basic concept on price.

http://video.google.com/videoplay?docid=-4299856195587897876&q=housing+bubble

[gold_dredger_phd]

Wait for a real recession. This bubble popping is going to last years.

I heard that credit is still as available as ever.

[Bugs]

Taken as a whole, the last 5 years have been great. The last 2 years haven’t been so hot.

It’s too bad the Union-Trib doesn’t have the hair to pick 4 existing tract homes of varying price ranges in 4 different areas of the county and show the graphics of what their prices have done on a quarterly basis for the last 5 years. That would make it a lot harder for the permabulls to hide behind medians based on unbalanced datasets.

[powayseller]

Roger Showley’s article is fairly balanced, but the headline is amiss. Jim Klinge wrote to Roger about this, and thought the headline would be revised. Roger probably gets plenty of flak from the RE industry, since they blame the media for causing the bubble to burst. Journalists usually just report the data, and as we know the data is bad.

I have not seen any good journalism, i.e. investigation type stuff from the U-T. I think the Voice of San Diego does much better investigative journalism. Kelly Bennett digs deeper into the story, and Rich Toscano is a contributing member, and we get the best news from the Voice.

I read the Voice almost daily, and basically ignore the U-T due to the much better journalism at the Voice. Who digs in the San Diego pension mess, the homeless in the canyon (Will Carless won an award for that story), the housing bubble? The Voice is superior, and if the U-T doesn’t catch up, they will keep losing readers.

[Author]

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