Another Housing Crash

[Joe Flacco]

Which is why your dare to accuse me of being biased in my work?

I am not accusing you. I am just saying.

I think that you are probably a excellent appraiser based on what you have posted over the years.

 

[George Hatch]

I might be an idiot, but I'm not an advocate for/against the prevailing trends. I'm not in the business of telling my readers what I think the market participants *should* do but what I think they actually *are* doing.

 

[Joe Flacco]

Somebody needs to make the bull case for home prices and nobody else seems to want to do it. So I do it.

 

[George Hatch]

Home prices will do what they do regardless of what we think. May it ever be so.

 

[Deleted member 128537]

The only time there will be a housing correction or slow down at least is when supply is greater than demand or interest rates go crazy because of hyper-inflation which would cause a decrease in demand. That’s not going to happen for quite some time. Not to say there won’t be a recession. That may slow down demand, but recessions have always happened and we’ve not seen housing crashes. First of all what happens in California and New York is not indicative of the rest of the country.

In many localities where building permits are not over regulated builders are coming in to increase supply, and that will help the affordability. I think some of you are a bit tainted by the last crash which was caused by factors we are not now seeing. It’s like the people who never buy any more stock because of the last crash. The only thing they lose out on is the profit by being so artificially negative.

As per FHA, there’s little FHA activity in my market. I do not see the constant refinancing as in years past. Main reason: Many people bought their homes at 4% or less. Why refinance? If anything they might be taking out HELOC’s. But then they better have plenty of equity or banks aren’t doing them. Plus stellar credit.

 

[Joe Flacco]

More like traumatized than tainted.

 

[djd09]

All is well. It is different this time. Free Fish Food.

 

[Elliott]

So no forecast or warning statements from 44% of appraisers anticipating a crash. I'd think you'd owe it to the lender.

 

[djd09]

I saw a mulitude of new for sale signs up today. The wise home owner will reconginize the over priced market and try to cash out. Now the supply and demand puppets can chime in.

 

[Mr Rex]

I saw a mulitude of new for sale signs up today. The wise home owner will reconginize the over priced market and try to cash out. Now the supply and demand puppets can chime in.

So where are they going to live cheaper than the current market? Holiday Inn Express? A van down by the river?