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Bob
ParticipantDon’t know if you are addressing me or not, but if you are, let me respond by saying this. I don’t get involved in meaningless exercises making predictions. I’m much more comfortable discussing and explaining economic/real estate issues based on my years as an investor.
As for your statement about Roubini, he and about 20 other economists predicted dire consequences for the economy due to the housing bubble. But for the last few months Roubini has been all over the map with his latest series of predictions. Late in 2008 he was predicting a near depression. Then when that didn’t pan out, he predicted an “L” shaped recession. Now his latest prediction is a “U” shaped recession. Maybe next month he’ll predict a recovery by the 4th of July.
The fact is, Roubini was an informal advisor to the Obama administration and it looks like Obama took much of Roubini’s advice regarding massive government intervention as the solution to the housing crisis. Unfortunately, nowhere on Roubini’s website does he mention the future inflationary pressures his so called solutions will cause to the economy.
ParticipantDon’t know if you are addressing me or not, but if you are, let me respond by saying this. I don’t get involved in meaningless exercises making predictions. I’m much more comfortable discussing and explaining economic/real estate issues based on my years as an investor.
As for your statement about Roubini, he and about 20 other economists predicted dire consequences for the economy due to the housing bubble. But for the last few months Roubini has been all over the map with his latest series of predictions. Late in 2008 he was predicting a near depression. Then when that didn’t pan out, he predicted an “L” shaped recession. Now his latest prediction is a “U” shaped recession. Maybe next month he’ll predict a recovery by the 4th of July.
The fact is, Roubini was an informal advisor to the Obama administration and it looks like Obama took much of Roubini’s advice regarding massive government intervention as the solution to the housing crisis. Unfortunately, nowhere on Roubini’s website does he mention the future inflationary pressures his so called solutions will cause to the economy.
ParticipantDon’t know if you are addressing me or not, but if you are, let me respond by saying this. I don’t get involved in meaningless exercises making predictions. I’m much more comfortable discussing and explaining economic/real estate issues based on my years as an investor.
As for your statement about Roubini, he and about 20 other economists predicted dire consequences for the economy due to the housing bubble. But for the last few months Roubini has been all over the map with his latest series of predictions. Late in 2008 he was predicting a near depression. Then when that didn’t pan out, he predicted an “L” shaped recession. Now his latest prediction is a “U” shaped recession. Maybe next month he’ll predict a recovery by the 4th of July.
The fact is, Roubini was an informal advisor to the Obama administration and it looks like Obama took much of Roubini’s advice regarding massive government intervention as the solution to the housing crisis. Unfortunately, nowhere on Roubini’s website does he mention the future inflationary pressures his so called solutions will cause to the economy.
ParticipantDon’t know if you are addressing me or not, but if you are, let me respond by saying this. I don’t get involved in meaningless exercises making predictions. I’m much more comfortable discussing and explaining economic/real estate issues based on my years as an investor.
As for your statement about Roubini, he and about 20 other economists predicted dire consequences for the economy due to the housing bubble. But for the last few months Roubini has been all over the map with his latest series of predictions. Late in 2008 he was predicting a near depression. Then when that didn’t pan out, he predicted an “L” shaped recession. Now his latest prediction is a “U” shaped recession. Maybe next month he’ll predict a recovery by the 4th of July.
The fact is, Roubini was an informal advisor to the Obama administration and it looks like Obama took much of Roubini’s advice regarding massive government intervention as the solution to the housing crisis. Unfortunately, nowhere on Roubini’s website does he mention the future inflationary pressures his so called solutions will cause to the economy.
Participant[quote=temeculaguy]See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.[/quote]
You are correct….if people are smart, they shouldn’t listen to what the pundits say. And for the last month, some of the so called “pundits” have been proclaiming we are at bottom. But not one of them, nor you, have acknowledged the simple fact that during the last four months MORATORIUMS HAVE REDUCED THE SUPPLY.
Once the moratoriums are over, which seems to be the case for now, supply will increase. And every study I’ve read suggests that there are still thousands of bad loans in Riverside county, including TV, that need to go through the system. While its true that some of those bad loans will be modified, as I’ve stated previously, most of them won’t be. The increased supply will once again put downward pressure on prices…its basic economics.
Participant[quote=temeculaguy]See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.[/quote]
You are correct….if people are smart, they shouldn’t listen to what the pundits say. And for the last month, some of the so called “pundits” have been proclaiming we are at bottom. But not one of them, nor you, have acknowledged the simple fact that during the last four months MORATORIUMS HAVE REDUCED THE SUPPLY.
Once the moratoriums are over, which seems to be the case for now, supply will increase. And every study I’ve read suggests that there are still thousands of bad loans in Riverside county, including TV, that need to go through the system. While its true that some of those bad loans will be modified, as I’ve stated previously, most of them won’t be. The increased supply will once again put downward pressure on prices…its basic economics.
Participant[quote=temeculaguy]See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.[/quote]
You are correct….if people are smart, they shouldn’t listen to what the pundits say. And for the last month, some of the so called “pundits” have been proclaiming we are at bottom. But not one of them, nor you, have acknowledged the simple fact that during the last four months MORATORIUMS HAVE REDUCED THE SUPPLY.
Once the moratoriums are over, which seems to be the case for now, supply will increase. And every study I’ve read suggests that there are still thousands of bad loans in Riverside county, including TV, that need to go through the system. While its true that some of those bad loans will be modified, as I’ve stated previously, most of them won’t be. The increased supply will once again put downward pressure on prices…its basic economics.
Participant[quote=temeculaguy]See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.[/quote]
You are correct….if people are smart, they shouldn’t listen to what the pundits say. And for the last month, some of the so called “pundits” have been proclaiming we are at bottom. But not one of them, nor you, have acknowledged the simple fact that during the last four months MORATORIUMS HAVE REDUCED THE SUPPLY.
Once the moratoriums are over, which seems to be the case for now, supply will increase. And every study I’ve read suggests that there are still thousands of bad loans in Riverside county, including TV, that need to go through the system. While its true that some of those bad loans will be modified, as I’ve stated previously, most of them won’t be. The increased supply will once again put downward pressure on prices…its basic economics.
Participant[quote=temeculaguy]See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.[/quote]
You are correct….if people are smart, they shouldn’t listen to what the pundits say. And for the last month, some of the so called “pundits” have been proclaiming we are at bottom. But not one of them, nor you, have acknowledged the simple fact that during the last four months MORATORIUMS HAVE REDUCED THE SUPPLY.
Once the moratoriums are over, which seems to be the case for now, supply will increase. And every study I’ve read suggests that there are still thousands of bad loans in Riverside county, including TV, that need to go through the system. While its true that some of those bad loans will be modified, as I’ve stated previously, most of them won’t be. The increased supply will once again put downward pressure on prices…its basic economics.
Participant[quote=Rt.66]3-6 months in a heavily manipulated market with non-stop Gov. intervention means nothing. Today’s market is a joke when you consider all the houses the banks are hiding so you’ll over-pay for the few they do sell.
The time frame is impossible to tell but a bottom this is not. [/quote]
Good point – although I’ll add that if the moratoriums become permanent policy, then such intervention will alter the market in a significant way. But if this is it for the moratoriums, then what we’ve seen the last few months is a bear market rally and nothing more.
I’d also like to add that earlier this month I saw some dramatic price reductions on a few properties. For example, in Redhawk a very nice property that I was looking at sold for $84 sqft. (The comps from late 2008 were $110 sqft.) And another great propery in Vail Ranch went for $81 sqft. These weren’t dumps, in fact, they were turn key properties that received multiple offers. Maybe the bottom means different things to different people, but one thing is for sure – there are some great deals out there even now with limited supply. But with northern san diego county prices finally becoming affordable, the better investments are there…at least for now.
Participant[quote=Rt.66]3-6 months in a heavily manipulated market with non-stop Gov. intervention means nothing. Today’s market is a joke when you consider all the houses the banks are hiding so you’ll over-pay for the few they do sell.
The time frame is impossible to tell but a bottom this is not. [/quote]
Good point – although I’ll add that if the moratoriums become permanent policy, then such intervention will alter the market in a significant way. But if this is it for the moratoriums, then what we’ve seen the last few months is a bear market rally and nothing more.
I’d also like to add that earlier this month I saw some dramatic price reductions on a few properties. For example, in Redhawk a very nice property that I was looking at sold for $84 sqft. (The comps from late 2008 were $110 sqft.) And another great propery in Vail Ranch went for $81 sqft. These weren’t dumps, in fact, they were turn key properties that received multiple offers. Maybe the bottom means different things to different people, but one thing is for sure – there are some great deals out there even now with limited supply. But with northern san diego county prices finally becoming affordable, the better investments are there…at least for now.
Participant[quote=Rt.66]3-6 months in a heavily manipulated market with non-stop Gov. intervention means nothing. Today’s market is a joke when you consider all the houses the banks are hiding so you’ll over-pay for the few they do sell.
The time frame is impossible to tell but a bottom this is not. [/quote]
Good point – although I’ll add that if the moratoriums become permanent policy, then such intervention will alter the market in a significant way. But if this is it for the moratoriums, then what we’ve seen the last few months is a bear market rally and nothing more.
I’d also like to add that earlier this month I saw some dramatic price reductions on a few properties. For example, in Redhawk a very nice property that I was looking at sold for $84 sqft. (The comps from late 2008 were $110 sqft.) And another great propery in Vail Ranch went for $81 sqft. These weren’t dumps, in fact, they were turn key properties that received multiple offers. Maybe the bottom means different things to different people, but one thing is for sure – there are some great deals out there even now with limited supply. But with northern san diego county prices finally becoming affordable, the better investments are there…at least for now.
Participant[quote=Rt.66]3-6 months in a heavily manipulated market with non-stop Gov. intervention means nothing. Today’s market is a joke when you consider all the houses the banks are hiding so you’ll over-pay for the few they do sell.
The time frame is impossible to tell but a bottom this is not. [/quote]
Good point – although I’ll add that if the moratoriums become permanent policy, then such intervention will alter the market in a significant way. But if this is it for the moratoriums, then what we’ve seen the last few months is a bear market rally and nothing more.
I’d also like to add that earlier this month I saw some dramatic price reductions on a few properties. For example, in Redhawk a very nice property that I was looking at sold for $84 sqft. (The comps from late 2008 were $110 sqft.) And another great propery in Vail Ranch went for $81 sqft. These weren’t dumps, in fact, they were turn key properties that received multiple offers. Maybe the bottom means different things to different people, but one thing is for sure – there are some great deals out there even now with limited supply. But with northern san diego county prices finally becoming affordable, the better investments are there…at least for now.
Participant[quote=Rt.66]3-6 months in a heavily manipulated market with non-stop Gov. intervention means nothing. Today’s market is a joke when you consider all the houses the banks are hiding so you’ll over-pay for the few they do sell.
The time frame is impossible to tell but a bottom this is not. [/quote]
Good point – although I’ll add that if the moratoriums become permanent policy, then such intervention will alter the market in a significant way. But if this is it for the moratoriums, then what we’ve seen the last few months is a bear market rally and nothing more.
I’d also like to add that earlier this month I saw some dramatic price reductions on a few properties. For example, in Redhawk a very nice property that I was looking at sold for $84 sqft. (The comps from late 2008 were $110 sqft.) And another great propery in Vail Ranch went for $81 sqft. These weren’t dumps, in fact, they were turn key properties that received multiple offers. Maybe the bottom means different things to different people, but one thing is for sure – there are some great deals out there even now with limited supply. But with northern san diego county prices finally becoming affordable, the better investments are there…at least for now.
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