Who else is dead slow lately?

[Terrel L. Shields]

A cash buyer is a cash buyer, If prices decline 20% they still have plenty of equity.

That's why I am saying they do not have the pressure to get out from under a property they are underwater with. Virtually everyone was operating on borrowed money in the 2000s. And they had to refi and sell at whatever price or go under. Today the typical owner has a much lower LTV.

 

[Fnbpos]

That's why I am saying they do not have the pressure to get out from under a property they are underwater with. Virtually everyone was operating on borrowed money in the 2000s. And they had to refi and sell at whatever price or go under. Today the typical owner has a much lower LTV.

I agree....2008 Great Recession was the great strategic default by millions. We wont have that this time. As you say, many many more can "ride it out" on their equity this time. Recession is bad yes, but if its coming, and its good for appraisers. Just they way it is

 

[Joe Flacco]

Recession doesn't even mean that home prices will go down.

1970, 1990, and 2008 recessions had a decline in median home prices. Median home prices went up in 1975, 1980, 1981, 2001, 2020 recessions.

 

[Joe Flacco]

What is really wierd is 2018-2019 and 2023-2024 are the only times since the 60's that the median home price shows a decline year-over-year without a recession.

 

[Joe Flacco]

I'm still not able to square the FRED median sale price declining year-over-year but the home price indicies showing continued home price increases. Wierd.

 

[Joe Flacco]

I think maybe the home price indicies are equal-weighted where lower price markets are given equal weight as higher priced markets. Because i know during the 2018-2019 median sale price decline on FRED, San Jose and bay area in general was wobbly. New York City was kind of wobbly too. The only reason I can think of why it wouldn't show on the home price indicies is that it is equal-weighted rather than market-weighted.

 

[Joe Flacco]

Yeah, I think that's what it is. It's the weighting. Because Case-Schiller doesn't show a decline during the 90's recession and that is probably because the big declines during that recession was basically limited to the west coast.

 

[Imladaris]

Personally, my license renewal is up this summer and I shall reup.

What I won't do this year is renew E&O or software.

I shall be sitting on the sidelines till there is some action. Then I will get back into the game unless I retire beforehand.

 

[Bobby Bucks]

Personally, my license renewal is up this summer and I shall renew it.

What I won't do this year is renew E&O or software.

I shall be sitting on the sidelines till there is some action. Then I will get back into the game unless I retire beforehand.

How about tail coverage with E & O?

 

[Imladaris]

How about tail coverage with E & O?

Really? I have never heard of that.