Housing Bubble Bursting?

[Bobby Bucks]

I used to raise hogs. I still live on a hog farm.

 

[Mr Rex]

The identity of Bucks is revealed. He's Larry the Cable Guy, former hog farmer.

 

[Big ole Boy]

Husband and Wife Phd's who must rent in Naples ....

My uncle and his wife are moving to Naples, FL. My uncle is a retired chemistry professor from IU; his wife has a PHd in Nuclear Physicist and has got a job at the Cleveland Clinic in Naples. They are going to have to rent in Naples because they can not afford to buy. Both have Phd’s in their respective fields.

My grandfather and I use to hunt turkeys across the street from where the Cleveland Clinic is today. In that day, anybody could buy a home; The only turkey’s you will find anymore around the Cleveland Clinic these days are sellers who are forced to sell because the economy is Naples is driven by the “Commission Economy”.

Today, Naples, no longer lags the rest of the country by six months in a real estate downturn; instead it leads the way; not so 20 years ago. Naples, typifies a grossly deformed sector in our economy called the Commission Economy.

 

[Big ole Boy]

U. S. Trust Company and cash balances

I heard that their portfolio has only 1.5% of their holding in Cash; I hope that trust companies do not have holdings in hedge funds ..... if they do ... I hope they have an equal amount of cash to cover the hedge fund if it "freezes"; and still have suffiecient cash to trade the remainder of the portfolio.

Trust companies use to hold abou 5% in cash ....... US Trust is bullish about the future earning for stocks .....

.... how will earnings perform if the real estate market implodes .... how bullish will they be then?

 

[DTB]

My uncle and his wife are moving to Naples, FL. My uncle is a retired chemistry professor from IU; his wife has a PHd in Nuclear Physicist and has got a job at the Cleveland Clinic in Naples.
.

What does that have to do with having money????

I know of several like that who would looove to get into real estate.

 

[Randolph Kinney]

Back to the bubble... still no bubble here. Stronger and stronger evidence for a cooling market (and possibly a bubble) in some areas, though.

Randolph, I don't think we are in disagreement about MLS DOM stats... in fact, I thought everyone already knew that you had to add them up to get an accurate picture for the individual property, therefore the statistic given up by the system is always low. I've had a blurb about that in my narrative reports since 1993.

Steve, what puzzles me is what is reported by my MLS versus what gets reported by NAR or agencies.

Looking at factors that affect housing prices and turnover, like interest rates, the housing market is cooling. In some areas, the prices are declining. It should be very interesting looking forward to what data gets reported and how that jives with ones knowledge of their local market. Your market seems to be very stable, no matter what happens.

 

[Randolph Kinney]

"Okay Mike. December 2001, I was laid off from my semiconductor engineering job here in So-Cal, making $85,000 a year. Today, I am a state licensed real estate appraiser and I (we) don't make anywhere near that number. And that is with my wife working now."


I think this says volumes about why one's perspective is what it is.

Mix that with others looking out from under their covers and concluding everything is risky, I better not go THERE. Another common participant has me envisioning him sitting with a revelover in his mouth while posting and at the last second chooses submit versus pulling the trigger.

End result, the "unbiased" opinions that protect the public trust.

Yes, it does speak volumes, doesn't it? If one can survive, even make the transition to another career, then you are the better person for it. I believe I have made the changeover from engineer to real estate appraiser. I don't make as much appraising, but I don't have 30+ years experience at it either. I like appraising, I enjoy it. I think I am or will be good at it.

Right now, in my stage of life, I don't have to have the kind of income I once had. Life is good. Enjoy it. No fear here.

 

[Big ole Boy]

Making money

What does that have to do with having money????

Its a demonstration of how highly educated capital (nominal wages) are falling in a service economy. Even though Cleveland Clinic may be the pinnacle of health care in the country; it is unable to compensate sufficiently.

Making money also has nothing to do with being an informed and free thinking person.

Making money is not a precondition for competence either.

Making money is fine; but its not relevant to the point at hand.

 

[DTB]

Its a demonstration of how highly educated capital (nominal wages) are falling in a service economy. Even though Cleveland Clinic may be the pinnacle of health care in the country; it is unable to compensate sufficiently.

Making money also has nothing to do with being an informed and free thinking person.

Making money is not a precondition for competence either.

Making money is fine; but its not relevant to the point at hand.

But it does compensate sufficiently, she took the position. Proof positive.

A neighbor has a daughter graduating from Yale, with a degree in Egyptology.

You make your moves and live with the choices. Remember there's no crying in ...

The principle of change is the point at hand, we cannot live in our parents' day.

 

[Big ole Boy]

Crying

Economic androids don't cry - I'm human, I still cry.