UT: County housing market strengthening

[Rich Toscano]

Nominal home prices actually did drop in the 1990s per the CS index:

Rich

[briansd1]

[quote=Rich Toscano]Nominal home prices actually did drop in the 1990s per the CS index:
[/quote]

Yes. The environment and psychology was very different back then. Prices were not readily available to everyone (Realtors were the gate keepers only dispensing on a need-to-know basis). There was no Internet so homeowners were lulled into believing that house prices were at least stable and that they would recoup their purchase prices only if they held long enough.

So the majority of homeowners held on. Only those who lost employment and exhausted savings had no choice but to let their houses go to foreclosure.

Today, people watch house prices everyday. They are more likely to walk-away or purposely put themselves into a position to obtain relief or principal reductions. It’s very shocking to see plainly that your house lost 30% of its value.

Of course, today we also have the toxic mortgage and MEW overhang.

PS: I don’t know if you guys do that… but when I’m invited to a new friend’s place, I look up the address to find out if they were knife catchers or not. I know that it’s crazy compulsive… but the data is there, so I feel compelled to check. Very different back in the 1990s.

[briansd1]

[quote=Rich Toscano]Nominal home prices actually did drop in the 1990s per the CS index:
[/quote]

Yes. The environment and psychology was very different back then. Prices were not readily available to everyone (Realtors were the gate keepers only dispensing on a need-to-know basis). There was no Internet so homeowners were lulled into believing that house prices were at least stable and that they would recoup their purchase prices only if they held long enough.

So the majority of homeowners held on. Only those who lost employment and exhausted savings had no choice but to let their houses go to foreclosure.

Today, people watch house prices everyday. They are more likely to walk-away or purposely put themselves into a position to obtain relief or principal reductions. It’s very shocking to see plainly that your house lost 30% of its value.

Of course, today we also have the toxic mortgage and MEW overhang.

PS: I don’t know if you guys do that… but when I’m invited to a new friend’s place, I look up the address to find out if they were knife catchers or not. I know that it’s crazy compulsive… but the data is there, so I feel compelled to check. Very different back in the 1990s.

[briansd1]

[quote=Rich Toscano]Nominal home prices actually did drop in the 1990s per the CS index:
[/quote]

Yes. The environment and psychology was very different back then. Prices were not readily available to everyone (Realtors were the gate keepers only dispensing on a need-to-know basis). There was no Internet so homeowners were lulled into believing that house prices were at least stable and that they would recoup their purchase prices only if they held long enough.

So the majority of homeowners held on. Only those who lost employment and exhausted savings had no choice but to let their houses go to foreclosure.

Today, people watch house prices everyday. They are more likely to walk-away or purposely put themselves into a position to obtain relief or principal reductions. It’s very shocking to see plainly that your house lost 30% of its value.

Of course, today we also have the toxic mortgage and MEW overhang.

PS: I don’t know if you guys do that… but when I’m invited to a new friend’s place, I look up the address to find out if they were knife catchers or not. I know that it’s crazy compulsive… but the data is there, so I feel compelled to check. Very different back in the 1990s.

[briansd1]

[quote=Rich Toscano]Nominal home prices actually did drop in the 1990s per the CS index:
[/quote]

Yes. The environment and psychology was very different back then. Prices were not readily available to everyone (Realtors were the gate keepers only dispensing on a need-to-know basis). There was no Internet so homeowners were lulled into believing that house prices were at least stable and that they would recoup their purchase prices only if they held long enough.

So the majority of homeowners held on. Only those who lost employment and exhausted savings had no choice but to let their houses go to foreclosure.

Today, people watch house prices everyday. They are more likely to walk-away or purposely put themselves into a position to obtain relief or principal reductions. It’s very shocking to see plainly that your house lost 30% of its value.

Of course, today we also have the toxic mortgage and MEW overhang.

PS: I don’t know if you guys do that… but when I’m invited to a new friend’s place, I look up the address to find out if they were knife catchers or not. I know that it’s crazy compulsive… but the data is there, so I feel compelled to check. Very different back in the 1990s.

[briansd1]

[quote=Rich Toscano]Nominal home prices actually did drop in the 1990s per the CS index:
[/quote]

Yes. The environment and psychology was very different back then. Prices were not readily available to everyone (Realtors were the gate keepers only dispensing on a need-to-know basis). There was no Internet so homeowners were lulled into believing that house prices were at least stable and that they would recoup their purchase prices only if they held long enough.

So the majority of homeowners held on. Only those who lost employment and exhausted savings had no choice but to let their houses go to foreclosure.

Today, people watch house prices everyday. They are more likely to walk-away or purposely put themselves into a position to obtain relief or principal reductions. It’s very shocking to see plainly that your house lost 30% of its value.

Of course, today we also have the toxic mortgage and MEW overhang.

PS: I don’t know if you guys do that… but when I’m invited to a new friend’s place, I look up the address to find out if they were knife catchers or not. I know that it’s crazy compulsive… but the data is there, so I feel compelled to check. Very different back in the 1990s.

[sdrealtor]

Sure was different back in the 1990’s when all you could do was say “Hey nice place, how long have you lived here?” Amazing what a great advanced use of technology you have discovered;)

[sdrealtor]

Sure was different back in the 1990’s when all you could do was say “Hey nice place, how long have you lived here?” Amazing what a great advanced use of technology you have discovered;)

[sdrealtor]

Sure was different back in the 1990’s when all you could do was say “Hey nice place, how long have you lived here?” Amazing what a great advanced use of technology you have discovered;)

[sdrealtor]

Sure was different back in the 1990’s when all you could do was say “Hey nice place, how long have you lived here?” Amazing what a great advanced use of technology you have discovered;)

[sdrealtor]

Sure was different back in the 1990’s when all you could do was say “Hey nice place, how long have you lived here?” Amazing what a great advanced use of technology you have discovered;)

[briansd1]

haha, very funny, sdrealtor. 😉

There’s nothing like the hard data to put things into perspective though. I love Zillow for the iPhone. I can check at the stop light.

When I was in school they used to post the grades on the bulletin board. Then they posted by social security number without the names. Then they started assigning student numbers for privacy.

Now they don’t post the grades anymore so you have no way to objectively rank yourself in the pecking order.

I think that humans are just curious and inquiring minds wanna know.

I bet you that if, on your street, everyone knew all the children’s SAT scores and IQs, the perception of the parents would change.

[briansd1]

haha, very funny, sdrealtor. 😉

There’s nothing like the hard data to put things into perspective though. I love Zillow for the iPhone. I can check at the stop light.

When I was in school they used to post the grades on the bulletin board. Then they posted by social security number without the names. Then they started assigning student numbers for privacy.

Now they don’t post the grades anymore so you have no way to objectively rank yourself in the pecking order.

I think that humans are just curious and inquiring minds wanna know.

I bet you that if, on your street, everyone knew all the children’s SAT scores and IQs, the perception of the parents would change.

[briansd1]

haha, very funny, sdrealtor. 😉

There’s nothing like the hard data to put things into perspective though. I love Zillow for the iPhone. I can check at the stop light.

When I was in school they used to post the grades on the bulletin board. Then they posted by social security number without the names. Then they started assigning student numbers for privacy.

Now they don’t post the grades anymore so you have no way to objectively rank yourself in the pecking order.

I think that humans are just curious and inquiring minds wanna know.

I bet you that if, on your street, everyone knew all the children’s SAT scores and IQs, the perception of the parents would change.

[briansd1]

haha, very funny, sdrealtor. 😉

There’s nothing like the hard data to put things into perspective though. I love Zillow for the iPhone. I can check at the stop light.

When I was in school they used to post the grades on the bulletin board. Then they posted by social security number without the names. Then they started assigning student numbers for privacy.

Now they don’t post the grades anymore so you have no way to objectively rank yourself in the pecking order.

I think that humans are just curious and inquiring minds wanna know.

I bet you that if, on your street, everyone knew all the children’s SAT scores and IQs, the perception of the parents would change.

[Author]

Posts