“They have no desire to buy a house that is going to be worth less two months later.”

[farbet]

“People are obviously reluctant to buy so long as prices continue to fall,” said Bernard Baumohl, managing director of the Economic Outlook Group in Princeton, N.J. “They have no desire to buy a house that is going to be worth less two months later.”

Buyers vanished from the housing market in March, as sales of new homes plummeted to the lowest level since the housing recession of the 1990s, the government said on Thursday.

Even those who wish to buy may be stymied, Mr. Baumohl said, as banks and mortgage lenders tighten their credit standards amid broader troubles in the economy.
That has a very profound psychological impact on people,” Mr. Baumohl said.
“They are not likely to make a major investment if they are uncertain about job security and Prices continued to fall as well, which could discourage would-be buyers from re-entering the market.income growth.”
The housing sector will continue to act as deadweight on overall growth throughout the remainder of 2008,” an economist at IdeaGlobal, Joseph Brusuelas, wrote in a note to clients.

[jpinpb]

“They have no desire to buy a house that is going to be worth less two months later.”

I’m hesitant to buy anything that’ll be worth less in a year or two, much less two months from now.

Deadweight through 2008. That’s optimistic.

[jpinpb]

“They have no desire to buy a house that is going to be worth less two months later.”

I’m hesitant to buy anything that’ll be worth less in a year or two, much less two months from now.

Deadweight through 2008. That’s optimistic.

[jpinpb]

“They have no desire to buy a house that is going to be worth less two months later.”

I’m hesitant to buy anything that’ll be worth less in a year or two, much less two months from now.

Deadweight through 2008. That’s optimistic.

[jpinpb]

“They have no desire to buy a house that is going to be worth less two months later.”

I’m hesitant to buy anything that’ll be worth less in a year or two, much less two months from now.

Deadweight through 2008. That’s optimistic.

[jpinpb]

“They have no desire to buy a house that is going to be worth less two months later.”

I’m hesitant to buy anything that’ll be worth less in a year or two, much less two months from now.

Deadweight through 2008. That’s optimistic.

[farbet]

“They have no desire to buy a house that is going to be worth less two months later.”

#1 . 1419 Eclipse Dr
San Marcos, CA 92078 Status: Sold

Sold Price: $653,000

Sale Date: 04/01/2008 note date

#2 857 Orion Way
San Marcos, CA 92078

Status: Sale Pending 04/24/08

Price: $619,900 this a larger sq ft

3. 877 Orion Way
San Marcos, CA 92078
Price: $621,900

Status: Active

less than 2 months
In the pipeline more on defaults.
In a few weeks as the may june july resets happen this area will be $525

[farbet]

“They have no desire to buy a house that is going to be worth less two months later.”

#1 . 1419 Eclipse Dr
San Marcos, CA 92078 Status: Sold

Sold Price: $653,000

Sale Date: 04/01/2008 note date

#2 857 Orion Way
San Marcos, CA 92078

Status: Sale Pending 04/24/08

Price: $619,900 this a larger sq ft

3. 877 Orion Way
San Marcos, CA 92078
Price: $621,900

Status: Active

less than 2 months
In the pipeline more on defaults.
In a few weeks as the may june july resets happen this area will be $525

[farbet]

“They have no desire to buy a house that is going to be worth less two months later.”

#1 . 1419 Eclipse Dr
San Marcos, CA 92078 Status: Sold

Sold Price: $653,000

Sale Date: 04/01/2008 note date

#2 857 Orion Way
San Marcos, CA 92078

Status: Sale Pending 04/24/08

Price: $619,900 this a larger sq ft

3. 877 Orion Way
San Marcos, CA 92078
Price: $621,900

Status: Active

less than 2 months
In the pipeline more on defaults.
In a few weeks as the may june july resets happen this area will be $525

[farbet]

“They have no desire to buy a house that is going to be worth less two months later.”

#1 . 1419 Eclipse Dr
San Marcos, CA 92078 Status: Sold

Sold Price: $653,000

Sale Date: 04/01/2008 note date

#2 857 Orion Way
San Marcos, CA 92078

Status: Sale Pending 04/24/08

Price: $619,900 this a larger sq ft

3. 877 Orion Way
San Marcos, CA 92078
Price: $621,900

Status: Active

less than 2 months
In the pipeline more on defaults.
In a few weeks as the may june july resets happen this area will be $525

[farbet]

“They have no desire to buy a house that is going to be worth less two months later.”

#1 . 1419 Eclipse Dr
San Marcos, CA 92078 Status: Sold

Sold Price: $653,000

Sale Date: 04/01/2008 note date

#2 857 Orion Way
San Marcos, CA 92078

Status: Sale Pending 04/24/08

Price: $619,900 this a larger sq ft

3. 877 Orion Way
San Marcos, CA 92078
Price: $621,900

Status: Active

less than 2 months
In the pipeline more on defaults.
In a few weeks as the may june july resets happen this area will be $525

[cr]

Join the club. I laugh when I see articles claiming it’s time to jump back in to real estate.

Of course they acknowledge that you may (will) lose value, but you’re in it for the long term. Just like everyone else who bought in the last 5 years, right? Oh…wait…no.

And that’s exactly why this thing isn’t even close to playing out yet. Resets to come, inventory to rise, foreclosures to set new records, sales volume to plummet further, etc, et al, ad nauseum.

[cr]

Join the club. I laugh when I see articles claiming it’s time to jump back in to real estate.

Of course they acknowledge that you may (will) lose value, but you’re in it for the long term. Just like everyone else who bought in the last 5 years, right? Oh…wait…no.

And that’s exactly why this thing isn’t even close to playing out yet. Resets to come, inventory to rise, foreclosures to set new records, sales volume to plummet further, etc, et al, ad nauseum.

[cr]

Join the club. I laugh when I see articles claiming it’s time to jump back in to real estate.

Of course they acknowledge that you may (will) lose value, but you’re in it for the long term. Just like everyone else who bought in the last 5 years, right? Oh…wait…no.

And that’s exactly why this thing isn’t even close to playing out yet. Resets to come, inventory to rise, foreclosures to set new records, sales volume to plummet further, etc, et al, ad nauseum.

[cr]

Join the club. I laugh when I see articles claiming it’s time to jump back in to real estate.

Of course they acknowledge that you may (will) lose value, but you’re in it for the long term. Just like everyone else who bought in the last 5 years, right? Oh…wait…no.

And that’s exactly why this thing isn’t even close to playing out yet. Resets to come, inventory to rise, foreclosures to set new records, sales volume to plummet further, etc, et al, ad nauseum.

[Author]

Posts