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(former)FormerSanDiegan
ParticipantI guess by the strict definition you are probably a knife catcher, since prices are still on a downward trend.
However, at least you didn’t catch a machete with your head. Hopefully it’s more like catching a steak knife with your pinky toe. Sure it will hurt and bleed a little, but it won’t kill you.
August 21, 2008 at 3:11 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259663Participantthere was inflation that manifested itself in real estate
But if I measure real estate in terms of oil, real estate prices have actually declined precipitously during the so-called bubble years.
If oil is constant as you assert, this is severe deflation, not inflation.
You cannot have it both ways.
August 21, 2008 at 3:11 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259856Participantthere was inflation that manifested itself in real estate
But if I measure real estate in terms of oil, real estate prices have actually declined precipitously during the so-called bubble years.
If oil is constant as you assert, this is severe deflation, not inflation.
You cannot have it both ways.
August 21, 2008 at 3:11 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259870Participantthere was inflation that manifested itself in real estate
But if I measure real estate in terms of oil, real estate prices have actually declined precipitously during the so-called bubble years.
If oil is constant as you assert, this is severe deflation, not inflation.
You cannot have it both ways.
August 21, 2008 at 3:11 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259917Participantthere was inflation that manifested itself in real estate
But if I measure real estate in terms of oil, real estate prices have actually declined precipitously during the so-called bubble years.
If oil is constant as you assert, this is severe deflation, not inflation.
You cannot have it both ways.
August 21, 2008 at 3:11 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259959Participantthere was inflation that manifested itself in real estate
But if I measure real estate in terms of oil, real estate prices have actually declined precipitously during the so-called bubble years.
If oil is constant as you assert, this is severe deflation, not inflation.
You cannot have it both ways.
August 21, 2008 at 2:40 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259638ParticipantP.S. – Today the median-price of a house in San Diego is less than 3500 barrels of oil.
Either there was no housing bubble, or, perhaps the price of oil is not the best fundamental measure.
August 21, 2008 at 2:40 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259831ParticipantP.S. – Today the median-price of a house in San Diego is less than 3500 barrels of oil.
Either there was no housing bubble, or, perhaps the price of oil is not the best fundamental measure.
August 21, 2008 at 2:40 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259845ParticipantP.S. – Today the median-price of a house in San Diego is less than 3500 barrels of oil.
Either there was no housing bubble, or, perhaps the price of oil is not the best fundamental measure.
August 21, 2008 at 2:40 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259892ParticipantP.S. – Today the median-price of a house in San Diego is less than 3500 barrels of oil.
Either there was no housing bubble, or, perhaps the price of oil is not the best fundamental measure.
August 21, 2008 at 2:40 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259935ParticipantP.S. – Today the median-price of a house in San Diego is less than 3500 barrels of oil.
Either there was no housing bubble, or, perhaps the price of oil is not the best fundamental measure.
August 21, 2008 at 2:37 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259633ParticipantOK kewp you are right. Let’s use oil as the fundamental metric to assess price and returns.
Q: Was there a bubble in housing in San Diego from 1998 to 2005?
Prices in 1998 …
Median-priced house: 195 K
Barrel of oil: $11.91
That’s 16,373 Barrels per house.Prices in 2005
Median-priced house: 540 K
Barrel of oil: $50.04
That’s 10,800 Barrels per house.A: Nope. There was no housing bubble. As measured by barrels of oil, housing prices actually declined by 34% in San Diego from 1998 to 2005.
August 21, 2008 at 2:37 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259826ParticipantOK kewp you are right. Let’s use oil as the fundamental metric to assess price and returns.
Q: Was there a bubble in housing in San Diego from 1998 to 2005?
Prices in 1998 …
Median-priced house: 195 K
Barrel of oil: $11.91
That’s 16,373 Barrels per house.Prices in 2005
Median-priced house: 540 K
Barrel of oil: $50.04
That’s 10,800 Barrels per house.A: Nope. There was no housing bubble. As measured by barrels of oil, housing prices actually declined by 34% in San Diego from 1998 to 2005.
August 21, 2008 at 2:37 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259840ParticipantOK kewp you are right. Let’s use oil as the fundamental metric to assess price and returns.
Q: Was there a bubble in housing in San Diego from 1998 to 2005?
Prices in 1998 …
Median-priced house: 195 K
Barrel of oil: $11.91
That’s 16,373 Barrels per house.Prices in 2005
Median-priced house: 540 K
Barrel of oil: $50.04
That’s 10,800 Barrels per house.A: Nope. There was no housing bubble. As measured by barrels of oil, housing prices actually declined by 34% in San Diego from 1998 to 2005.
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