[DWCAP]

“Sharon Hanley, who produces a weekly report on new-home sales, said the 2008 market will be helped by the reconversion of condos to apartment status and by a relatively low inventory of unsold homes.”

Huh? Low inventory of unsold homes? Last time I checked inventory, and months of inventory, both were was going up! Condo’s are worse than SFR’s and apartments are converted to condo’s not SFR’s, so………… HUh?

“Falling prices, surging foreclosures, reasonable mortgage rates and a high inventory of for-sale homes mean there are bargains to be found”

Apparently Sharon didn’t talk to this guy. At least he lives in real life. Too bad his idea of bargains today are going to be 2009’s UT headlines “recent buyers hurt by market downturn” about some poor guy who lissened to him, bought a house he couldnt afford thinking it was the bottom and lost his job in the recession that they promised wasnt coming and is now going into foreclosure.

[DWCAP]

“Sharon Hanley, who produces a weekly report on new-home sales, said the 2008 market will be helped by the reconversion of condos to apartment status and by a relatively low inventory of unsold homes.”

Huh? Low inventory of unsold homes? Last time I checked inventory, and months of inventory, both were was going up! Condo’s are worse than SFR’s and apartments are converted to condo’s not SFR’s, so………… HUh?

“Falling prices, surging foreclosures, reasonable mortgage rates and a high inventory of for-sale homes mean there are bargains to be found”

Apparently Sharon didn’t talk to this guy. At least he lives in real life. Too bad his idea of bargains today are going to be 2009’s UT headlines “recent buyers hurt by market downturn” about some poor guy who lissened to him, bought a house he couldnt afford thinking it was the bottom and lost his job in the recession that they promised wasnt coming and is now going into foreclosure.

[DWCAP]

“Sharon Hanley, who produces a weekly report on new-home sales, said the 2008 market will be helped by the reconversion of condos to apartment status and by a relatively low inventory of unsold homes.”

Huh? Low inventory of unsold homes? Last time I checked inventory, and months of inventory, both were was going up! Condo’s are worse than SFR’s and apartments are converted to condo’s not SFR’s, so………… HUh?

“Falling prices, surging foreclosures, reasonable mortgage rates and a high inventory of for-sale homes mean there are bargains to be found”

Apparently Sharon didn’t talk to this guy. At least he lives in real life. Too bad his idea of bargains today are going to be 2009’s UT headlines “recent buyers hurt by market downturn” about some poor guy who lissened to him, bought a house he couldnt afford thinking it was the bottom and lost his job in the recession that they promised wasnt coming and is now going into foreclosure.

[DWCAP]

“Sharon Hanley, who produces a weekly report on new-home sales, said the 2008 market will be helped by the reconversion of condos to apartment status and by a relatively low inventory of unsold homes.”

Huh? Low inventory of unsold homes? Last time I checked inventory, and months of inventory, both were was going up! Condo’s are worse than SFR’s and apartments are converted to condo’s not SFR’s, so………… HUh?

“Falling prices, surging foreclosures, reasonable mortgage rates and a high inventory of for-sale homes mean there are bargains to be found”

Apparently Sharon didn’t talk to this guy. At least he lives in real life. Too bad his idea of bargains today are going to be 2009’s UT headlines “recent buyers hurt by market downturn” about some poor guy who lissened to him, bought a house he couldnt afford thinking it was the bottom and lost his job in the recession that they promised wasnt coming and is now going into foreclosure.

[DWCAP]

“Sharon Hanley, who produces a weekly report on new-home sales, said the 2008 market will be helped by the reconversion of condos to apartment status and by a relatively low inventory of unsold homes.”

Huh? Low inventory of unsold homes? Last time I checked inventory, and months of inventory, both were was going up! Condo’s are worse than SFR’s and apartments are converted to condo’s not SFR’s, so………… HUh?

“Falling prices, surging foreclosures, reasonable mortgage rates and a high inventory of for-sale homes mean there are bargains to be found”

Apparently Sharon didn’t talk to this guy. At least he lives in real life. Too bad his idea of bargains today are going to be 2009’s UT headlines “recent buyers hurt by market downturn” about some poor guy who lissened to him, bought a house he couldnt afford thinking it was the bottom and lost his job in the recession that they promised wasnt coming and is now going into foreclosure.

[DWCAP]

XBox,
That actually tells me that we will not be able to sustain this level of reduction, not that the bottom is near. Half that rate of reduction and you are still going to give the NAR a heart attack, but homes will bottom after 2010.
The bottom will be the exact opposit of the top that passed in 2005/6. A year or two where prices dont really do anything, but sales are picking up. (seasonally smoothed, I dont mean any fake bottom spring)

[DWCAP]

XBox,
That actually tells me that we will not be able to sustain this level of reduction, not that the bottom is near. Half that rate of reduction and you are still going to give the NAR a heart attack, but homes will bottom after 2010.
The bottom will be the exact opposit of the top that passed in 2005/6. A year or two where prices dont really do anything, but sales are picking up. (seasonally smoothed, I dont mean any fake bottom spring)

[DWCAP]

XBox,
That actually tells me that we will not be able to sustain this level of reduction, not that the bottom is near. Half that rate of reduction and you are still going to give the NAR a heart attack, but homes will bottom after 2010.
The bottom will be the exact opposit of the top that passed in 2005/6. A year or two where prices dont really do anything, but sales are picking up. (seasonally smoothed, I dont mean any fake bottom spring)

[DWCAP]

XBox,
That actually tells me that we will not be able to sustain this level of reduction, not that the bottom is near. Half that rate of reduction and you are still going to give the NAR a heart attack, but homes will bottom after 2010.
The bottom will be the exact opposit of the top that passed in 2005/6. A year or two where prices dont really do anything, but sales are picking up. (seasonally smoothed, I dont mean any fake bottom spring)

[DWCAP]

XBox,
That actually tells me that we will not be able to sustain this level of reduction, not that the bottom is near. Half that rate of reduction and you are still going to give the NAR a heart attack, but homes will bottom after 2010.
The bottom will be the exact opposit of the top that passed in 2005/6. A year or two where prices dont really do anything, but sales are picking up. (seasonally smoothed, I dont mean any fake bottom spring)

[DWCAP]

It sounds like you are buying a place that you like, but are not inlove with. You can afford it, the question is should you. What is your reason for buying? If you have kids that need a place and schools and such, then that is a decent reason and your are not getting ripped off, so ok. I wouldnt do it, but then I dont make that kinda money either.
If you are buying because you are afraid of getting priced out again, that is a HORRIBLE reason and you should run like the wind. I keep hearing that crap now and then. Think how long it took us to get where we are. Prices have been falling for nearly 2 years now in most of SD, maybe 6 months or so in CV. Do you really think that will change in 1-2 months and well start seeing appreciation again? No way, the housing market is a momentum mover, and momentum is all down.
PS, I also live near a busy road, and it sucks when I want to go to sleep at night with my window open. For those prices, I dont want to have to dream on someone elses exaust.

[DWCAP]

It sounds like you are buying a place that you like, but are not inlove with. You can afford it, the question is should you. What is your reason for buying? If you have kids that need a place and schools and such, then that is a decent reason and your are not getting ripped off, so ok. I wouldnt do it, but then I dont make that kinda money either.
If you are buying because you are afraid of getting priced out again, that is a HORRIBLE reason and you should run like the wind. I keep hearing that crap now and then. Think how long it took us to get where we are. Prices have been falling for nearly 2 years now in most of SD, maybe 6 months or so in CV. Do you really think that will change in 1-2 months and well start seeing appreciation again? No way, the housing market is a momentum mover, and momentum is all down.
PS, I also live near a busy road, and it sucks when I want to go to sleep at night with my window open. For those prices, I dont want to have to dream on someone elses exaust.

[DWCAP]

It sounds like you are buying a place that you like, but are not inlove with. You can afford it, the question is should you. What is your reason for buying? If you have kids that need a place and schools and such, then that is a decent reason and your are not getting ripped off, so ok. I wouldnt do it, but then I dont make that kinda money either.
If you are buying because you are afraid of getting priced out again, that is a HORRIBLE reason and you should run like the wind. I keep hearing that crap now and then. Think how long it took us to get where we are. Prices have been falling for nearly 2 years now in most of SD, maybe 6 months or so in CV. Do you really think that will change in 1-2 months and well start seeing appreciation again? No way, the housing market is a momentum mover, and momentum is all down.
PS, I also live near a busy road, and it sucks when I want to go to sleep at night with my window open. For those prices, I dont want to have to dream on someone elses exaust.

[DWCAP]

It sounds like you are buying a place that you like, but are not inlove with. You can afford it, the question is should you. What is your reason for buying? If you have kids that need a place and schools and such, then that is a decent reason and your are not getting ripped off, so ok. I wouldnt do it, but then I dont make that kinda money either.
If you are buying because you are afraid of getting priced out again, that is a HORRIBLE reason and you should run like the wind. I keep hearing that crap now and then. Think how long it took us to get where we are. Prices have been falling for nearly 2 years now in most of SD, maybe 6 months or so in CV. Do you really think that will change in 1-2 months and well start seeing appreciation again? No way, the housing market is a momentum mover, and momentum is all down.
PS, I also live near a busy road, and it sucks when I want to go to sleep at night with my window open. For those prices, I dont want to have to dream on someone elses exaust.

[DWCAP]

It sounds like you are buying a place that you like, but are not inlove with. You can afford it, the question is should you. What is your reason for buying? If you have kids that need a place and schools and such, then that is a decent reason and your are not getting ripped off, so ok. I wouldnt do it, but then I dont make that kinda money either.
If you are buying because you are afraid of getting priced out again, that is a HORRIBLE reason and you should run like the wind. I keep hearing that crap now and then. Think how long it took us to get where we are. Prices have been falling for nearly 2 years now in most of SD, maybe 6 months or so in CV. Do you really think that will change in 1-2 months and well start seeing appreciation again? No way, the housing market is a momentum mover, and momentum is all down.
PS, I also live near a busy road, and it sucks when I want to go to sleep at night with my window open. For those prices, I dont want to have to dream on someone elses exaust.

[Author]

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