Forum Replies Created
-
AuthorPosts
-
peterb
ParticipantI remember reading in 2004 that about 10% to 12% of SD purchases were not owner occupied. And we know how many more probably lied and said they were going to occupy in order to get a better loan rate/deal. So it has heavy speculation already.
I track several investor groups and they are strongly advocating purchases in the under $300K range…every one of them! High levels of speculation tend to create high levels of volitility for many reasons. I think we’re going to see a lot of crazy stuff in this market in the next 8 months.
But I really think that tracking inventory is an indicator is flawed in this market… it’s too full of dislocations.ParticipantI remember reading in 2004 that about 10% to 12% of SD purchases were not owner occupied. And we know how many more probably lied and said they were going to occupy in order to get a better loan rate/deal. So it has heavy speculation already.
I track several investor groups and they are strongly advocating purchases in the under $300K range…every one of them! High levels of speculation tend to create high levels of volitility for many reasons. I think we’re going to see a lot of crazy stuff in this market in the next 8 months.
But I really think that tracking inventory is an indicator is flawed in this market… it’s too full of dislocations.ParticipantI remember reading in 2004 that about 10% to 12% of SD purchases were not owner occupied. And we know how many more probably lied and said they were going to occupy in order to get a better loan rate/deal. So it has heavy speculation already.
I track several investor groups and they are strongly advocating purchases in the under $300K range…every one of them! High levels of speculation tend to create high levels of volitility for many reasons. I think we’re going to see a lot of crazy stuff in this market in the next 8 months.
But I really think that tracking inventory is an indicator is flawed in this market… it’s too full of dislocations.ParticipantYes, this thread is about inventory. And it would be nice to see YOY from 1996 to 2008. I still remember inventory in the 2002 to 2005 averaging about 5K homes on the SD MLS. So although it has come down to nearly 15K from 20K, I would not be too quick to label this some kind of recovery trend. The numbers are very misleading right now as the market is in big turmoil. Bank REO’s, Short sales, etc…throw off all the norms we’ve built-up over the years. As Mr Mortgage would say,”This is not an organic market”. As in one owner occupied seller selling to a buyer who intends to occupy the home.
Actually, in a way, I think this market may be more speculative than in previous years.ParticipantYes, this thread is about inventory. And it would be nice to see YOY from 1996 to 2008. I still remember inventory in the 2002 to 2005 averaging about 5K homes on the SD MLS. So although it has come down to nearly 15K from 20K, I would not be too quick to label this some kind of recovery trend. The numbers are very misleading right now as the market is in big turmoil. Bank REO’s, Short sales, etc…throw off all the norms we’ve built-up over the years. As Mr Mortgage would say,”This is not an organic market”. As in one owner occupied seller selling to a buyer who intends to occupy the home.
Actually, in a way, I think this market may be more speculative than in previous years.ParticipantYes, this thread is about inventory. And it would be nice to see YOY from 1996 to 2008. I still remember inventory in the 2002 to 2005 averaging about 5K homes on the SD MLS. So although it has come down to nearly 15K from 20K, I would not be too quick to label this some kind of recovery trend. The numbers are very misleading right now as the market is in big turmoil. Bank REO’s, Short sales, etc…throw off all the norms we’ve built-up over the years. As Mr Mortgage would say,”This is not an organic market”. As in one owner occupied seller selling to a buyer who intends to occupy the home.
Actually, in a way, I think this market may be more speculative than in previous years.ParticipantYes, this thread is about inventory. And it would be nice to see YOY from 1996 to 2008. I still remember inventory in the 2002 to 2005 averaging about 5K homes on the SD MLS. So although it has come down to nearly 15K from 20K, I would not be too quick to label this some kind of recovery trend. The numbers are very misleading right now as the market is in big turmoil. Bank REO’s, Short sales, etc…throw off all the norms we’ve built-up over the years. As Mr Mortgage would say,”This is not an organic market”. As in one owner occupied seller selling to a buyer who intends to occupy the home.
Actually, in a way, I think this market may be more speculative than in previous years.ParticipantYes, this thread is about inventory. And it would be nice to see YOY from 1996 to 2008. I still remember inventory in the 2002 to 2005 averaging about 5K homes on the SD MLS. So although it has come down to nearly 15K from 20K, I would not be too quick to label this some kind of recovery trend. The numbers are very misleading right now as the market is in big turmoil. Bank REO’s, Short sales, etc…throw off all the norms we’ve built-up over the years. As Mr Mortgage would say,”This is not an organic market”. As in one owner occupied seller selling to a buyer who intends to occupy the home.
Actually, in a way, I think this market may be more speculative than in previous years.March 13, 2009 at 12:13 PM in reply to: Jim Cramer gets Pounded by John Stewart on the Daily Show #365291ParticipantMSM is one big shill for the Man!
March 13, 2009 at 12:13 PM in reply to: Jim Cramer gets Pounded by John Stewart on the Daily Show #365579ParticipantMSM is one big shill for the Man!
March 13, 2009 at 12:13 PM in reply to: Jim Cramer gets Pounded by John Stewart on the Daily Show #365741ParticipantMSM is one big shill for the Man!
March 13, 2009 at 12:13 PM in reply to: Jim Cramer gets Pounded by John Stewart on the Daily Show #365777ParticipantMSM is one big shill for the Man!
March 13, 2009 at 12:13 PM in reply to: Jim Cramer gets Pounded by John Stewart on the Daily Show #365887ParticipantMSM is one big shill for the Man!
ParticipantShe must be related to the CEO’s of our biggest banks. They say it’s hereditary.
-
AuthorPosts
