Forum Replies Created
-
AuthorPosts
-
April 23, 2008 at 10:26 AM in reply to: California foreclosure “surge”: Up 327% from ’07 levels #193148April 23, 2008 at 10:26 AM in reply to: California foreclosure “surge”: Up 327% from ’07 levels #193177
cr
ParticipantTake a look at rates compared to then and now: http://www.thompsonsrealty.com/Mortgage_Rate_History/page_1708965.html
The last peak at 1989 rates were higher than they are today and dropped pretty much until about 1994. Then they went up for 2 years only after which we hit bottom.
We starting a lot lower now, the prime can’t go much lower, but today mortgage rates are actually going up. Makes oyu wonder if anything can be done.
April 23, 2008 at 10:26 AM in reply to: California foreclosure “surge”: Up 327% from ’07 levels #193204ParticipantTake a look at rates compared to then and now: http://www.thompsonsrealty.com/Mortgage_Rate_History/page_1708965.html
The last peak at 1989 rates were higher than they are today and dropped pretty much until about 1994. Then they went up for 2 years only after which we hit bottom.
We starting a lot lower now, the prime can’t go much lower, but today mortgage rates are actually going up. Makes oyu wonder if anything can be done.
April 23, 2008 at 10:26 AM in reply to: California foreclosure “surge”: Up 327% from ’07 levels #193220ParticipantTake a look at rates compared to then and now: http://www.thompsonsrealty.com/Mortgage_Rate_History/page_1708965.html
The last peak at 1989 rates were higher than they are today and dropped pretty much until about 1994. Then they went up for 2 years only after which we hit bottom.
We starting a lot lower now, the prime can’t go much lower, but today mortgage rates are actually going up. Makes oyu wonder if anything can be done.
April 23, 2008 at 10:26 AM in reply to: California foreclosure “surge”: Up 327% from ’07 levels #193264ParticipantTake a look at rates compared to then and now: http://www.thompsonsrealty.com/Mortgage_Rate_History/page_1708965.html
The last peak at 1989 rates were higher than they are today and dropped pretty much until about 1994. Then they went up for 2 years only after which we hit bottom.
We starting a lot lower now, the prime can’t go much lower, but today mortgage rates are actually going up. Makes oyu wonder if anything can be done.
ParticipantHow anyone can even attempt to call a bottom on housing in the next 18-24 months is beyond me.
Housing typically moves slow; the fact that it’s falling hard and fast by no means it will be over any sooner.
ParticipantHow anyone can even attempt to call a bottom on housing in the next 18-24 months is beyond me.
Housing typically moves slow; the fact that it’s falling hard and fast by no means it will be over any sooner.
ParticipantHow anyone can even attempt to call a bottom on housing in the next 18-24 months is beyond me.
Housing typically moves slow; the fact that it’s falling hard and fast by no means it will be over any sooner.
ParticipantHow anyone can even attempt to call a bottom on housing in the next 18-24 months is beyond me.
Housing typically moves slow; the fact that it’s falling hard and fast by no means it will be over any sooner.
ParticipantHow anyone can even attempt to call a bottom on housing in the next 18-24 months is beyond me.
Housing typically moves slow; the fact that it’s falling hard and fast by no means it will be over any sooner.
April 22, 2008 at 10:24 AM in reply to: Existing home sales decline in March as housing slump continues #192298Participant“From what I see so far this year the monthly average is more about 1450 sales than 2000. 23808/1450 is 16.4 months of inventory. Or roughly enough to last us till about August 2009.”
That assumes a static rate of sale, and would not be as bad if additional inventory wasn’t going to hit the market. Sales will increase during the summer, but so will the number of listings. The question is which will increase more. With a wave of ARM resets in the next 2 months and entering a recession I tend to think inventories will rise faster.
It will be interesting to compare 2007 and 2008 between April-August. I don’t think fewer MLS listings from a year ago is any reason to think we hit the bottom, nor does it necessarily even mean the worst is behind us.
April 22, 2008 at 10:24 AM in reply to: Existing home sales decline in March as housing slump continues #192327Participant“From what I see so far this year the monthly average is more about 1450 sales than 2000. 23808/1450 is 16.4 months of inventory. Or roughly enough to last us till about August 2009.”
That assumes a static rate of sale, and would not be as bad if additional inventory wasn’t going to hit the market. Sales will increase during the summer, but so will the number of listings. The question is which will increase more. With a wave of ARM resets in the next 2 months and entering a recession I tend to think inventories will rise faster.
It will be interesting to compare 2007 and 2008 between April-August. I don’t think fewer MLS listings from a year ago is any reason to think we hit the bottom, nor does it necessarily even mean the worst is behind us.
April 22, 2008 at 10:24 AM in reply to: Existing home sales decline in March as housing slump continues #192354Participant“From what I see so far this year the monthly average is more about 1450 sales than 2000. 23808/1450 is 16.4 months of inventory. Or roughly enough to last us till about August 2009.”
That assumes a static rate of sale, and would not be as bad if additional inventory wasn’t going to hit the market. Sales will increase during the summer, but so will the number of listings. The question is which will increase more. With a wave of ARM resets in the next 2 months and entering a recession I tend to think inventories will rise faster.
It will be interesting to compare 2007 and 2008 between April-August. I don’t think fewer MLS listings from a year ago is any reason to think we hit the bottom, nor does it necessarily even mean the worst is behind us.
April 22, 2008 at 10:24 AM in reply to: Existing home sales decline in March as housing slump continues #192372Participant“From what I see so far this year the monthly average is more about 1450 sales than 2000. 23808/1450 is 16.4 months of inventory. Or roughly enough to last us till about August 2009.”
That assumes a static rate of sale, and would not be as bad if additional inventory wasn’t going to hit the market. Sales will increase during the summer, but so will the number of listings. The question is which will increase more. With a wave of ARM resets in the next 2 months and entering a recession I tend to think inventories will rise faster.
It will be interesting to compare 2007 and 2008 between April-August. I don’t think fewer MLS listings from a year ago is any reason to think we hit the bottom, nor does it necessarily even mean the worst is behind us.
April 22, 2008 at 10:24 AM in reply to: Existing home sales decline in March as housing slump continues #192416Participant“From what I see so far this year the monthly average is more about 1450 sales than 2000. 23808/1450 is 16.4 months of inventory. Or roughly enough to last us till about August 2009.”
That assumes a static rate of sale, and would not be as bad if additional inventory wasn’t going to hit the market. Sales will increase during the summer, but so will the number of listings. The question is which will increase more. With a wave of ARM resets in the next 2 months and entering a recession I tend to think inventories will rise faster.
It will be interesting to compare 2007 and 2008 between April-August. I don’t think fewer MLS listings from a year ago is any reason to think we hit the bottom, nor does it necessarily even mean the worst is behind us.
-
AuthorPosts
