Housing Bubble Far From Bursting: NHBA Opinion

[The Warrior Monk]

This is frightening, I think this time the bubble is for real. I recommend everyone buy gold & silver and line the exterior of your home with aluminum foil. Real estate is an investment for fools.

Note to self: Invest in commodities, especially aluminum...

 

[Couch Potato]

Install carefully.

This is frightening, I think this time the bubble is for real. I recommend everyone buy gold & silver and line the exterior of your home with aluminum foil. Real estate is an investment for fools.

Remember to put the foil with the shiny side out.

 

[Brad Ellis]

Did anyone notice that this article is from 2002?!!!!!!!!!!!!!!!

Julio, shame on you.

Now we have the history that proves they were right- back then anyway.

Brad

 

[Pamela Crowley (Florida)]

Bobby Bucks stirred the pot by bringing this thread back to life.

:new_popcornsmiley:

 

[jay trotta]

statistics were intended to be misleading, to favor the party who intends to be the "seeker" of a larger "market share"; I bring to you; The Republican & Democratic party's that run the country (largest quantity of Benjamins controls the political arena) - support groups Exxtravigent Mob - multi billion dollar, well informed group, supported continually by the current administration- wanna argue, show me the stopage/curtailing of price gouging.

yep, didn't think so...LOL

 

[Bobby Bucks]

My intent was twofold. First to show that the vile, wicked bubble hasn’t destroyed western civilization yet. Secondly, Joe Birrell hasn’t posted in some time. It would be gracious if a member of the Long Island gang would to take the Staten Island ferry to see if Joe is okay. As I recall he was having quite a tussle with some surly Russian mobster type on a refi. Joe is not the type to submit to value pressure.

 

[Pamela Crowley (Florida)]

I do hope Joe is OK!!! I forgot about that. I do hope somebody finds him and lets us know.

There are many threads here now that have me breaking out the popcorn.

 

[Terrel L. Shields]

The Skyline Report locally produced for the banks suggested that absorption time, if not accounting for anything but first transfer, is less than a year for every subdivision around. The problem is the first buyer is not the terminal owner of the property. Investment groups buy houses in batches, then flip these new houses to investors across the nation. Californians probably own 10-20% of our new housing. The terminal buyer of $140K houses are usually a hispanic newcomer who first rents, then buys on a lease purchase with owner financing or owner providing the downpayment for a secondary market loan.

 

[Austin]

State of Denial

Talk about being out of touch and in a state of denial, I read this story in the newspaper Sunday. I will paraphrase the story and you can test your own reaction. I wish I could find it and link it but read this and see what you think:

'Charlottsville, Virginia, one of the most dynamic real estate markets in the state is in the real estate news today. The inventory of housing on the market is double what it was last year and prices have leveled off. Joe Blow, president of the local board of Realtors, says this is a sign of a good market because it is turning into a buyers market and Realtors expect a record sales year for 2006. Joe Blow explained the double number of houses for sale as new houses coming on line by builders. "This gives us an inventory to work with", stated president blow, and we are geared for a banner year. The average price for homes in the Charlottesville Charlottesville area is $280,000 and prices have increased dramatically in recent years. "

Ok, does anyone see any signs of a deranged mined in the above story.

 

[Pamela Crowley (Florida)]

Desperation spinning?