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Old 08-10-2018, 12:59 AM
 
Location: Olympus Mons, Mars
5,000 posts, read 8,029,485 times
Reputation: 4920

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https://www-forbes-com.cdn.ampprojec...y-time-soon%2F

not any surprise to me..
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Old 08-10-2018, 01:45 AM
 
Location: Sandpoint, Idaho
2,880 posts, read 5,070,237 times
Reputation: 3020
terrible article.

A template. No details on specific market dynamics. No data. No empirical analysis.
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Old 08-10-2018, 03:14 AM
 
64,510 posts, read 66,075,955 times
Reputation: 42965
the typical click bait
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Old 08-10-2018, 05:20 AM
 
Location: Northern Michigan
857 posts, read 405,812 times
Reputation: 3441
Five houses on our street went up for sale this month. The longest it took any of them to sell was 6 days. The shortest was 2 days. Ours goes up on the block next week...and we have already had people stop by when they saw the '(Company-X) Painting' sign on our lawn, to ask if we are going to sell. We are very rural.

Where exactly is the market starting to go south???? I sure don't see it.
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Old 08-10-2018, 09:58 AM
 
Location: Olympus Mons, Mars
5,000 posts, read 8,029,485 times
Reputation: 4920
oh boy, here come the homeowners in droves trying to defend the bubble market, completely out of touch with reality... no worries, heard this in 2006 as well. Enjoy the "denial phase" while it lasts.
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Old 08-10-2018, 10:21 AM
 
10,696 posts, read 20,114,276 times
Reputation: 9849
Quote:
Originally Posted by k374 View Post
oh boy, here come the homeowners in droves trying to defend the bubble market, completely out of touch with reality... no worries, heard this in 2006 as well. Enjoy the "denial phase" while it lasts.
Clearly you didn't even read the article yourself. The last sentence

Quote:
"Today’s responsiveness to price and affordability speaks to a more balanced and less dangerous attitude and also offers comfort that at least there is little risk of a speculative bubble."
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Old 08-10-2018, 11:41 AM
 
Location: North Idaho
20,998 posts, read 25,737,156 times
Reputation: 39357
Going south? Real estate prices are cyclical so it is coming, but not yet.

In my area, there is a popular resort town where prices are still going up but I am seeing price drops in a nearby town. However, I don't think that indicates prices going down. All the houses with a price drop had been outrageously optimistic about what they could sell for. Plus, all of those houses are ugly, usually split level with no curb appeal

Just because they are getting high prices in the town 5 miles away, doesn't mean you can get the exact same high prices for your house. Houses priced correctly are still selling in two days.
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Old 08-10-2018, 11:44 AM
 
Location: 49th parallel
2,110 posts, read 1,058,674 times
Reputation: 4365
This guy is out of step with most of the analysts. Yes, the housing market will sour; it always goes in cycles. What's new there? Most analysts don't think we're near the "going sour" point yet.
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Old 08-10-2018, 11:49 AM
 
1,287 posts, read 288,534 times
Reputation: 1120
It is going south where I live. I have been seeing it for a while. People got greedy and were putting their houses on in Jan and Feb for pretty high amounts. I have seen multiple price drops on many homes. (Except of course the one I want which is 20% overpriced and just sitting there).
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Old 08-10-2018, 12:03 PM
 
Location: Washington State
15,349 posts, read 8,020,336 times
Reputation: 13158
Quote:
Originally Posted by k374 View Post
oh boy, here come the homeowners in droves trying to defend the bubble market, completely out of touch with reality... no worries, heard this in 2006 as well. Enjoy the "denial phase" while it lasts.
We're not in 2006 mode and unlikely we will until the economy falters. 2006 had a lot of cheap mortgages of people that couldn't afford what they were buying. Higher mortgage rates are starting to soften the market though.
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