Stuff agents post online

[Joe Flacco]

 

[TerryRohrer]

I view most of what is promoted from within the "real estate community" as an effort to convince consumers to make decisions that are not in their (consumers') best interest to improve their (real estate professionals) financial well-being. Unfortunately, that includes the majority of appraisers.

"But the messaging aligns with a trade group doing its job by looking out for its members, always showing that “now is a good time to buy.” One of the most important concepts I heaped on my grad students at Columbia was that the source of information is just as important as the content itself. A trade group is not a neutral source of information."

Affordability Normalizes in only 7-10 Years!

A new take by Oxford Economics does a better job confirming what we already know.

housingnotes.com

https://ritholtz.com/2008/08/nar-housing-affordability-index-is-worthless/

https://ritholtz.com/2013/07/housing-affordability-index-is-still-worthless/

 

[Joe Flacco]

I view most of what is promoted from within the "real estate community" as an effort to convince consumers to make decisions that are not in their (consumers') best interest to improve their (real estate professionals) financial well-being. Unfortunately, that includes the majority of appraisers.

"But the messaging aligns with a trade group doing its job by looking out for its members, always showing that “now is a good time to buy.” One of the most important concepts I heaped on my grad students at Columbia was that the source of information is just as important as the content itself. A trade group is not a neutral source of information."

Affordability Normalizes in only 7-10 Years!

A new take by Oxford Economics does a better job confirming what we already know.

housingnotes.com

https://ritholtz.com/2008/08/nar-housing-affordability-index-is-worthless/

https://ritholtz.com/2013/07/housing-affordability-index-is-still-worthless/

The trade group messaging has two targets. One is obviously the buyers and sellers. The other is policy makers.

The goal being increasing the number of transactions. I think Diana Olick is one of the main disseminators of the trade group messaging.

 

[TerryRohrer]

The trade group messaging has two targets. One is obviously the buyers and sellers. The other is policy makers.

And the latter is probably the most effective means of achieving the former.

 

[autobot]

IMO that is a darn interesting set of stats, but not sure what it means. I guess Covid spending and a few things suddenly inflated prices, leading to surge in Equity? I guess from Appraiser standpoint the question might be "how much should an Appraiser follow The Bubble (if it is one) vs being a 'calming effect' and looking back a bit?".

What effect will the much greater Equity have on whether the bubble pops? I'm thinking it could mean its not a bubble, since a bubble would be a bunch of over-leveraged speculators taking out loans on hope the bubble keeps growing, even if they are legit single family homeowners, not Land Lords.

 

[Joe Flacco]

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[Joe Flacco]

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[Joe Flacco]

Homeowner equity today is high, but why do they use the numbers from 2008?

 

[OSU Beavers]

Realtors are trying to convince buyers waiting for the crash to get off the fence.



The reality is that nobody wants to buy into a declining market.