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LA_Renter
Participant“Case is speaking of the national aggregate market.
That is very different scenario than SD, OC, LA, and Miami.”Bingo, many markets did not see near the appreciation that these areas did. Also keep in mind previous housing downturns were caused by recessions that were the result of some external force outside of housing. This time housing is the CAUSE of the current gloom and really we have just now entered into a recession, we have seen what happens when prices become completely disconnected from fundamentals but we haven’t felt the FULL impact of the economic downturn on housing yet.
Participant“Case is speaking of the national aggregate market.
That is very different scenario than SD, OC, LA, and Miami.”Bingo, many markets did not see near the appreciation that these areas did. Also keep in mind previous housing downturns were caused by recessions that were the result of some external force outside of housing. This time housing is the CAUSE of the current gloom and really we have just now entered into a recession, we have seen what happens when prices become completely disconnected from fundamentals but we haven’t felt the FULL impact of the economic downturn on housing yet.
Participant“Case is speaking of the national aggregate market.
That is very different scenario than SD, OC, LA, and Miami.”Bingo, many markets did not see near the appreciation that these areas did. Also keep in mind previous housing downturns were caused by recessions that were the result of some external force outside of housing. This time housing is the CAUSE of the current gloom and really we have just now entered into a recession, we have seen what happens when prices become completely disconnected from fundamentals but we haven’t felt the FULL impact of the economic downturn on housing yet.
Participant“Case is speaking of the national aggregate market.
That is very different scenario than SD, OC, LA, and Miami.”Bingo, many markets did not see near the appreciation that these areas did. Also keep in mind previous housing downturns were caused by recessions that were the result of some external force outside of housing. This time housing is the CAUSE of the current gloom and really we have just now entered into a recession, we have seen what happens when prices become completely disconnected from fundamentals but we haven’t felt the FULL impact of the economic downturn on housing yet.
Participant“Did you happen to listen to This American Life?”
IMO that was one of the best reports I have heard on this whole debacle. It was very easy to understand and entertaining. Much of the interview did remind me of the movie “The Boiler Room”. We have a ways to go before this thing clears out.
Participant“Did you happen to listen to This American Life?”
IMO that was one of the best reports I have heard on this whole debacle. It was very easy to understand and entertaining. Much of the interview did remind me of the movie “The Boiler Room”. We have a ways to go before this thing clears out.
Participant“Did you happen to listen to This American Life?”
IMO that was one of the best reports I have heard on this whole debacle. It was very easy to understand and entertaining. Much of the interview did remind me of the movie “The Boiler Room”. We have a ways to go before this thing clears out.
Participant“Did you happen to listen to This American Life?”
IMO that was one of the best reports I have heard on this whole debacle. It was very easy to understand and entertaining. Much of the interview did remind me of the movie “The Boiler Room”. We have a ways to go before this thing clears out.
Participant“Did you happen to listen to This American Life?”
IMO that was one of the best reports I have heard on this whole debacle. It was very easy to understand and entertaining. Much of the interview did remind me of the movie “The Boiler Room”. We have a ways to go before this thing clears out.
ParticipantOC Renter had a good post on the flat to declining inventory at bubbletracking.
http://bubbletracking.blogspot.com/2008/05/flat-or-declining-inventory-what-gives.html
“Despite having 9 NOD filings within a week in the 92127 zipcode, only two of these homes are on the MLS. This fits with what we are seeing with our foreclosure/pre-foreclosure tracking data as well as our inventory tracking data. In short, the distress is increasing, but the distressed owners are not listing.
Market psychology is a very important factor. Here we have 7 out of 9 distressed homeowners simply giving up and just letting the clock run its course, what does that say about the seller psychology? More impressively, of the 5 homes owned by REALTORS®, only 2 out of 5 are bothering with a listing. If even the cheerleaders are tossing away their pom poms, oh boy…”
ParticipantOC Renter had a good post on the flat to declining inventory at bubbletracking.
http://bubbletracking.blogspot.com/2008/05/flat-or-declining-inventory-what-gives.html
“Despite having 9 NOD filings within a week in the 92127 zipcode, only two of these homes are on the MLS. This fits with what we are seeing with our foreclosure/pre-foreclosure tracking data as well as our inventory tracking data. In short, the distress is increasing, but the distressed owners are not listing.
Market psychology is a very important factor. Here we have 7 out of 9 distressed homeowners simply giving up and just letting the clock run its course, what does that say about the seller psychology? More impressively, of the 5 homes owned by REALTORS®, only 2 out of 5 are bothering with a listing. If even the cheerleaders are tossing away their pom poms, oh boy…”
ParticipantOC Renter had a good post on the flat to declining inventory at bubbletracking.
http://bubbletracking.blogspot.com/2008/05/flat-or-declining-inventory-what-gives.html
“Despite having 9 NOD filings within a week in the 92127 zipcode, only two of these homes are on the MLS. This fits with what we are seeing with our foreclosure/pre-foreclosure tracking data as well as our inventory tracking data. In short, the distress is increasing, but the distressed owners are not listing.
Market psychology is a very important factor. Here we have 7 out of 9 distressed homeowners simply giving up and just letting the clock run its course, what does that say about the seller psychology? More impressively, of the 5 homes owned by REALTORS®, only 2 out of 5 are bothering with a listing. If even the cheerleaders are tossing away their pom poms, oh boy…”
ParticipantOC Renter had a good post on the flat to declining inventory at bubbletracking.
http://bubbletracking.blogspot.com/2008/05/flat-or-declining-inventory-what-gives.html
“Despite having 9 NOD filings within a week in the 92127 zipcode, only two of these homes are on the MLS. This fits with what we are seeing with our foreclosure/pre-foreclosure tracking data as well as our inventory tracking data. In short, the distress is increasing, but the distressed owners are not listing.
Market psychology is a very important factor. Here we have 7 out of 9 distressed homeowners simply giving up and just letting the clock run its course, what does that say about the seller psychology? More impressively, of the 5 homes owned by REALTORS®, only 2 out of 5 are bothering with a listing. If even the cheerleaders are tossing away their pom poms, oh boy…”
ParticipantOC Renter had a good post on the flat to declining inventory at bubbletracking.
http://bubbletracking.blogspot.com/2008/05/flat-or-declining-inventory-what-gives.html
“Despite having 9 NOD filings within a week in the 92127 zipcode, only two of these homes are on the MLS. This fits with what we are seeing with our foreclosure/pre-foreclosure tracking data as well as our inventory tracking data. In short, the distress is increasing, but the distressed owners are not listing.
Market psychology is a very important factor. Here we have 7 out of 9 distressed homeowners simply giving up and just letting the clock run its course, what does that say about the seller psychology? More impressively, of the 5 homes owned by REALTORS®, only 2 out of 5 are bothering with a listing. If even the cheerleaders are tossing away their pom poms, oh boy…”
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