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14 years ago

Dude…Stop giving me your B
Dude…Stop giving me your B S man…LOL

My prediction: The market will do nothing for a long time.

Murky? Yea…We’ll skeg along the bottom for a while as any uptick (spring) will be met with banks putting more inventory on the market and, when that’s all done, it’ll be the Fed’s turn to start raising rates and getting the greater economy back on it’s feet while no longer subsidizing the housing market…Dude….That’s my B S LOL

You know, Rich, I was always told before I came out to SD that the weather was so much the same for so much out of the year that the TV weathermen needed a gig. For example, there are cowboy weathermen, KUSI freaky- but infectious weathermen, etc… Rich, you need a persona gig Dude LOL

“Well you don’t need a million dollars to do nothing, man. Just take a look at my cousin, he’s broke, don’t do sh*t.”
— Lawrence
Office Space

CA renter
14 years ago

Another great post, Rich.
Another great post, Rich. Thank you!

As much as I’m a bear, it’s entirely possible that the decline in sales volume in both new and existing homes is due to the lack of inventory. IMHO, there are a lot of buyers out there, but many have given up on the search because there is nothing to buy. If anything remotely tempting comes on the market, it’s swarmed by crowds of families and investors, all trying to outbid one another.

Look at the inventory levels you’ve posted. We have the lowest levels of inventory we’ve seen in years.

And as for the decline in new home sales this week…haven’t starts been down at record lows for the past couple of years? Again, the low sales numbers are probably due to the lack of inventory, not a shortage of buyers, IMHO.

The decline in sales might actually be a bullish sign — no inventory, no sales. Of course, Bernanke will use the *appearance* of a weak market to justify his printing schemes. More resources and time wasted because nobody in power is interested in actually fixing the problem (asset prices are too high, and we collectively have too much debt).