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lindismith
ParticipantThanks for this very good, long post, cooperthedog.
Just two things:
1. I believe sometimes powayseller is just trying to be provocative, to draw us into the conversation, to stimulate discussion. She is essentially looking for rebuttal, looking for more information. And, the nice thing is, she usually gets it when others respond.2. The article does quote Mr. Gin as saying, “There is no panic with people trying to sell their homes.” Personally, I know of 2 people who are very panicked, trying to sell their homes. There is a lot at stake for both of them. Both are in condos, both have already lost money, both will be very lucky to get out with their credit not completely ruined. One is here in SD, another is out of state.
ParticipantGreat post kristinejm.
The vast majority of the industry just doesn’t have the vision and talent to consolidate the data sources.
Is this because the industry itself is so fragmented? If I were a realtor/broker paying fees to belong to NAR, I’d expect comprehensive, realistic data, from which I could plan my own marketing accordingly.
Also, did you mean your last sentence to read the way it does? If so, can you be more clear? (Who is “your”?)
ParticipantAnx,
Rich himself has already pointed out she’s not going to make much money with a site.She’s looking for ideas from people on how to market her analysis and communication skills.
I personally emailed her with the title of a book that has helped a lot of people figure out what they’re passionate about, and ways to parlay it into new careers or at least paying gigs.
I also happen to think she’s done a lot of good work digging for further information that Rich doesn’t have time for.
She’s got a lot of great skills that are pretty clear from her posts. I’m sure something good will come of it.
Participantyes, you’re right.
Sorry – just noticed this article was on yesterday’s postings here: http://www.piggington.com/re_refinancing_and_putting_off_mortgage_pain
Looks like there were some follow up questions on the original post.
ParticipantYeah, good to put faces and names to usernames.
Good food too. My sandwich was excellent! Thanks Saiine for the recommendation!
Most likely we’ll be ready for another meet-up in about 2 months – perhaps the 3rd week in September.
Participantyeah, this board has really grown!
I wish the forum’s interface was a little different. I can tell PS is going to burn out explaining the same stuff to newbies all the time. 🙂 It would be good if newcomers could see all the old threads, somehow grouped by topic.
I’m bringing “Hello, My Piggington Name Is” stickers!
I tried to make some in Photoshop with the Piggington logo, but they were a disaster! So, we’re just getting generic ones!See you all tomorrow!
ParticipantThat board did not look like that 2 months ago. Two months ago it was filled with positive phrases, and people asking each other for tips on hot markets etc.
Things are changing quickly.
ParticipantI couldn’t get your link to “cut and paste,” so I’m posting the article in full here for everyone.
Housing Expert: ‘Soft Landing’ Off Mark
By David Streitfeld, Times Staff Writer
July 21, 2006Leslie Appleton-Young is at a loss for words.
The chief economist of the California Assn. of Realtors has stopped using the term “soft landing” to describe the state’s real estate market, saying she no longer feels comfortable with that mild label.
“Maybe we need something new. That’s all I’m prepared to say,” Appleton-Young said Thursday.
The shift in language comes as debate over the real estate market is intensifying. The long-awaited drop-off is happening, but there’s little agreement about how brutal the landing will be.
Federal Reserve Chairman Ben S. Bernanke said in congressional testimony Thursday that the national housing downturn so far appears orderly.
At about the same time, however, D.R. Horton Inc. Chief Executive Donald Tomnitz was telling analysts that the home builder’s sales in June “absolutely fell off the Richter scale.” Horton, the nation’s largest builder of residential housing, has numerous projects in California.
For real estate optimists, the phrase “soft landing” conveyed the soothing notion that the run-up in values over the last few years would be permanent. It wasn’t a bubble, it was a new plateau.
The Realtors association last month lowered its 2006 sales prediction from a 2% slip to a 16.8% drop. That was when Appleton-Young first told the San Diego Union-Tribune that she didn’t feel comfortable any longer using “soft landing.”
“I’m sorry I ever made that comment,” she said Thursday. “When I get my new term, I’ll let you know.”
If there’s one group in California still unreservedly bullish on real estate, it might be the throngs lining up to take the licensing exams.
The state Department of Real Estate recently reported that the total number of agents in the state passed 500,000 in May for the first time. That’s one agent for every 55 adults in the state.
Appleton-Young had no qualms about predicting a hard landing here: “We’re expecting a fairly significant shakeout.”
ParticipantThanks for finding out SDLaw06. All those reasons make sense.
ThePlayers, I like your analysis too.
Good stuff!
ParticipantGreat thread!
But, yeah, oops, it’s Alan Nevin whose class I took.
Sorry for the mix-up.ParticipantBugs, are you saying all these people were owning homes before?
ParticipantDid she say why their demand is up? Or, where these renters are coming from?
Participantthe market is ultimately the consumer, and when the consumer is willing to pay high prices for oil,
What alternatives do consumers have?
Please name one?
It’s hardly a free market.
ParticipantHi,
Check out this thread:You can actually navigate to it directly from the Piggington home page. (Just scroll down a ways past the graphs.)
Sometimes newbies miss the posts there, but that’s where Rich puts all his articles. Unfortunately the forum area doesn’t show that he’s posted.
Sorry – it’s actually this one:
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