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Yes, keep holding your breath for inflation lol...
I'd be dead or blue in the face if I was holding my breath for it. You guys have been ranting about this for years now...
Still no inflation and still no 8 or 10% interest rate.
John, I agree. I think finding those amazing deals from this point out will be few are far between and we all know what happens when supply is low. Average priced homes and non desperate sellers will still be everywhere. But the kind of crazy low pricing is (mostly) a thing of the past.
Hmm, but how do you know that?
People said the same thing in 2007 and 2008...
You might be right, maybe this is the bottom, but we were all blindsided when Bear Sterns and then Lehman collapsed. And then by the CDOs and derivatives. Who knows what else is lingering?
I know this is a doom and gloomer link but hey I gotta bring the other side of the picture.
Honestly, I think its somewhat overblown now with people trying to "buy at the bottom". Do I think prices will continue to fall here in many areas? Yes absolutely. However, interest rates are now the biggest concern IMO. IF interest rates start to go up, that will put more pressure on the housing market and will make it harder for 1st time home buyers to purchase homes.
Prices here in Charlotte are back to anywhere from '99 to '02 historical levels. Certainly they have a little ways to go to be in line IMO, however it has gotten better.
I agree w/ about 90% of reference quote. Only problem I have with your answer is "continue to fall". What's my problem?? By how much? OP says "don't buy", remember? (albeit tongue in cheeck).
I really was being sarcastic about the "bottom" business. Way overblown in my opinion. That's all.
There is also this minor issue of the government handing out $8000 for people to buy houses. What happens when that runs out?
Don't know. Good question that has me concerned but then again Mr. Obama didn't tell us what his next brillant move might be. Democrats have a horse in this race too, not only me.
rofl - so the bottom PASSED?! and he was serious about that.... I needed that laugh for the day.
All these "houses that John is buying up" - how many were over the 400k price point v. how many were <150k?
Remember - math is simple... All the inventory that's moving is at such low numbers that a small increase makes a big percentage difference price wise.
MK: FYI $400k houses are for ppl. like you from Long Island to buy. Not me. I can think of better things to do with my money than puttting it into houses reserved for transplants such as you. There are plently here for you to buy and by doing so YOU can "make a difference in the percentage".
Hmm, but how do you know that?
People said the same thing in 2007 and 2008...
Not sure I get what you mean here, noone was talking about a bottom on 07/08. Particularly in 07 people were still buying at inflated prices. I guess I am just saying the there was a panic that caused people to sell quickly and in a desperate fashion these last few months and now it is stablizing.
you didn't see the housing bubble? Rise in the price of commodities like oil, copper, corn, etc? That was a form of inflation, asset inflation.
We're still deleveraging. The piddly little $2 trillion or so that we now have in public debt is dwarfed by the $50 trillion or so in private debt that is unwinding.
I agree w/ about 90% of reference quote. Only problem I have with your answer is "continue to fall". What's my problem?? By how much? OP says "don't buy", remember? (albeit tongue in cheeck).
I really was being sarcastic about the "bottom" business. Way overblown in my opinion. That's all.
I agree w/you about the "buy" vs. "no buy"....there are many factors on when its a good time to buy or not. No blanket statement will work for everyone because everyone has a different situation.
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