We’ve hit bottom and RE is looking golden again

[jpinpb]

OMG – doofrat – did you read the Reuters story http://users.ixpres.com/~gtriphan/

Read some of the stuff Zandi is saying. It’s like he just read your post and modified and changed some of the quotes. Kinda scary.

“He expects home sales to hit bottom this spring, housing starts to reach a nadir this summer, and house prices to trough in the spring of 2009”

So we just need to ride it out for a year and everything will be honky dory. We are we on that chart?

I like this: “For each foreclosure on a street block, it reduces the value of all homes on that block by almost 1.5 percent, he said.”

How low can it go? Limbo time.

[jpinpb]

UCLA Anderson “There will be job loss in the construction sector, as well as real estate-related financial services, but not nearly enough to trigger a recession.”

Who to believe?

“Recessions have traditionally trailed a housing peak by no more than a year; at this point, the business cycle is trailing the housing cycle by seven quarters without a recession”

Funny. It’s been trailing b/c the banks can foreclosre fast enough and sell fast enough.

Are they kidding here ” an expected rise in Chinese visitors and several local attractions such as the new ‘Simpsons’ ride at Universal Studios Hollywood theme park.”

I hope our economy is not solely relying on that.

[jpinpb]

UCLA Anderson “There will be job loss in the construction sector, as well as real estate-related financial services, but not nearly enough to trigger a recession.”

Who to believe?

“Recessions have traditionally trailed a housing peak by no more than a year; at this point, the business cycle is trailing the housing cycle by seven quarters without a recession”

Funny. It’s been trailing b/c the banks can foreclosre fast enough and sell fast enough.

Are they kidding here ” an expected rise in Chinese visitors and several local attractions such as the new ‘Simpsons’ ride at Universal Studios Hollywood theme park.”

I hope our economy is not solely relying on that.

[jpinpb]

UCLA Anderson “There will be job loss in the construction sector, as well as real estate-related financial services, but not nearly enough to trigger a recession.”

Who to believe?

“Recessions have traditionally trailed a housing peak by no more than a year; at this point, the business cycle is trailing the housing cycle by seven quarters without a recession”

Funny. It’s been trailing b/c the banks can foreclosre fast enough and sell fast enough.

Are they kidding here ” an expected rise in Chinese visitors and several local attractions such as the new ‘Simpsons’ ride at Universal Studios Hollywood theme park.”

I hope our economy is not solely relying on that.

[jpinpb]

UCLA Anderson “There will be job loss in the construction sector, as well as real estate-related financial services, but not nearly enough to trigger a recession.”

Who to believe?

“Recessions have traditionally trailed a housing peak by no more than a year; at this point, the business cycle is trailing the housing cycle by seven quarters without a recession”

Funny. It’s been trailing b/c the banks can foreclosre fast enough and sell fast enough.

Are they kidding here ” an expected rise in Chinese visitors and several local attractions such as the new ‘Simpsons’ ride at Universal Studios Hollywood theme park.”

I hope our economy is not solely relying on that.

[jpinpb]

UCLA Anderson “There will be job loss in the construction sector, as well as real estate-related financial services, but not nearly enough to trigger a recession.”

Who to believe?

“Recessions have traditionally trailed a housing peak by no more than a year; at this point, the business cycle is trailing the housing cycle by seven quarters without a recession”

Funny. It’s been trailing b/c the banks can foreclosre fast enough and sell fast enough.

Are they kidding here ” an expected rise in Chinese visitors and several local attractions such as the new ‘Simpsons’ ride at Universal Studios Hollywood theme park.”

I hope our economy is not solely relying on that.

[Doofrat]

1. “I’m not convinced that the housing prices are going to plummet.”
– jpinpb February 20, 2008

Just Kidding 🙂

[Doofrat]

1. “I’m not convinced that the housing prices are going to plummet.”
– jpinpb February 20, 2008

Just Kidding 🙂

[Doofrat]

1. “I’m not convinced that the housing prices are going to plummet.”
– jpinpb February 20, 2008

Just Kidding 🙂

[Doofrat]

1. “I’m not convinced that the housing prices are going to plummet.”
– jpinpb February 20, 2008

Just Kidding 🙂

[Doofrat]

1. “I’m not convinced that the housing prices are going to plummet.”
– jpinpb February 20, 2008

Just Kidding 🙂

[cr]

Is this the bottom?

Nope, just propaganda.

Piscitelli also adds that one of his best mortgage broker clients is working on 15 deals “which never would have happened a month or two ago.” He adds, “Most of the work is refi’s but there are some sales in there as well.”

Most are refi’s, but SOME sales are in there.

The sales are probably foreclosures, and the refi’s pre-foreclosures. I’ve noticed realtors putting sold on houses that the following month are for sale again. Tighter standards?

Refi’s are probably the result of lower rates, proactive people trying to avoid foreclosure, and Hope Now.

We know this will happen. Just wait until after 3 dismal month-to-month price declines for an uptick in median resale. The bulls on parade lead by the NAR will shout the bottom is here. The parade will last until next omnth’s data comes out.

[cr]

Is this the bottom?

Nope, just propaganda.

Piscitelli also adds that one of his best mortgage broker clients is working on 15 deals “which never would have happened a month or two ago.” He adds, “Most of the work is refi’s but there are some sales in there as well.”

Most are refi’s, but SOME sales are in there.

The sales are probably foreclosures, and the refi’s pre-foreclosures. I’ve noticed realtors putting sold on houses that the following month are for sale again. Tighter standards?

Refi’s are probably the result of lower rates, proactive people trying to avoid foreclosure, and Hope Now.

We know this will happen. Just wait until after 3 dismal month-to-month price declines for an uptick in median resale. The bulls on parade lead by the NAR will shout the bottom is here. The parade will last until next omnth’s data comes out.

[cr]

Is this the bottom?

Nope, just propaganda.

Piscitelli also adds that one of his best mortgage broker clients is working on 15 deals “which never would have happened a month or two ago.” He adds, “Most of the work is refi’s but there are some sales in there as well.”

Most are refi’s, but SOME sales are in there.

The sales are probably foreclosures, and the refi’s pre-foreclosures. I’ve noticed realtors putting sold on houses that the following month are for sale again. Tighter standards?

Refi’s are probably the result of lower rates, proactive people trying to avoid foreclosure, and Hope Now.

We know this will happen. Just wait until after 3 dismal month-to-month price declines for an uptick in median resale. The bulls on parade lead by the NAR will shout the bottom is here. The parade will last until next omnth’s data comes out.

[cr]

Is this the bottom?

Nope, just propaganda.

Piscitelli also adds that one of his best mortgage broker clients is working on 15 deals “which never would have happened a month or two ago.” He adds, “Most of the work is refi’s but there are some sales in there as well.”

Most are refi’s, but SOME sales are in there.

The sales are probably foreclosures, and the refi’s pre-foreclosures. I’ve noticed realtors putting sold on houses that the following month are for sale again. Tighter standards?

Refi’s are probably the result of lower rates, proactive people trying to avoid foreclosure, and Hope Now.

We know this will happen. Just wait until after 3 dismal month-to-month price declines for an uptick in median resale. The bulls on parade lead by the NAR will shout the bottom is here. The parade will last until next omnth’s data comes out.

[Author]

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