[Ten]

Originally Posted by waiting

OMG, you sound as though if even anyone dares mention that scary word
>>>>>rebound>>>>>you'd lose it.
Calm down. I'm suggesting it's been a good investment from the 1970s to 2000 for me. A private citizen and home owner.
And who the hell are you? You have some sure fired crystal ball reading that's better then anyone else???
What's your dog in this fight?
Are you a renter that is waiting for the housing market to sink so low that you get a house with a bowl of soup?
There seems to be a gang on this Florida thread that wants the housing market to go south and stay south.
Sorry I'm not buying your voodoo.

Interesting choice of words, poster.

See, home price declines are actually accelerating. The latest Case-Shiller Home Price Index just posted a -2.3% loss, with home sales off 58% from 2005.

New homes prices were down 4.5 % in January after falling 9.3% in December. The last time new home sales were this off was 1991. The Miami market lost 17.5% in the last 12 months, and even Tampa is off over 13% for the same period.

Rebound? Not until currency markets correct, a condition we're only seeing the early phases of. This is what happens when a fiat dollar finally crashes.

[Ten]

One of the guys responsible for the boom (and therefore for the bust too) bails out.

[Hero]

Originally Posted by waiting

OMG, you sound as though if even anyone dares mention that scary word
>>>>>rebound>>>>>you'd lose it.
Calm down. I'm suggesting it's been a good investment from the 1970s to 2000 for me. A private citizen and home owner.
And who the hell are you? You have some sure fired crystal ball reading that's better then anyone else???
What's your dog in this fight?
Are you a renter that is waiting for the housing market to sink so low that you get a house with a bowl of soup?
There seems to be a gang on this Florida thread that wants the housing market to go south and stay south.
Sorry I'm not buying your voodoo.

Sounds like you're the one that needs to calm down. You don't have to buy "our voodoo" and we don't have to buy your over priced house. No worries, the rebound will come just in time for retirement.

[waiting]

Originally Posted by Ten

Interesting choice of words, poster.

See, home price declines are actually accelerating. The latest Case-Shiller Home Price Index just posted a -2.3% loss, with home sales off 58% from 2005.

New homes prices were down 4.5 % in January after falling 9.3% in December. The last time new home sales were this off was 1991. The Miami market lost 17.5% in the last 12 months, and even Tampa is off over 13% for the same period.

Rebound? Not until currency markets correct, a condition we're only seeing the early phases of. This is what happens when a fiat dollar finally crashes.

The investors have left the market and credit is tight, so there are fewer buyers ( than 2005 ) and more houses because of investors and sub primers dumping the market with houses to unload.
The operative word is prediction!
You don't know for sure and I look to the experts.
I really have a problem with people that are adament ON THIS FORUM, that the market will keep heading south year after year after year .

[waiting]

Originally Posted by Hero

Sounds like you're the one that needs to calm down. You don't have to buy "our voodoo" and we don't have to buy your over priced house. No worries, the rebound will come just in time for retirement.

Good for you, I hope your rebound does come just in time for retirement.
My rebound will be sooner.
Live long and prosper in your reality or not; as you choose !

[lostbuyer]

that was funny you mean experts like that clown fishkind who are wrong 99.9pct of the time,anyway no need to argue,time will tell.hey TEN how about that traitor greenspan,I"m beggining to think this economic collapse was planned this way,hasnt the dollar lost like 60pct of its value since 2000,and everything they do just makes it worse,we have way bigger problems than real estate,put your tin foil hats on boys and girls were about to enter the unknown.

[geocycler]

A few posts back someone said that the real estate market cannot recover until the dollar recovers. I'm no economist, so I would appreciate if some one could further elaborate on this point and explain the relationship between the domestic real estate market and a weak dollar. Thanks

[Wild Style]

Originally Posted by geocycler

A few posts back someone said that the real estate market cannot recover until the dollar recovers. I'm no economist, so I would appreciate if some one could further elaborate on this point and explain the relationship between the domestic real estate market and a weak dollar. Thanks

I am not sure why they said that but I disagree. The real estate market comes down to cost in terms of real wages. It is like anything else, if prices are higher than a local economies ability to pay then consumers wont buy. As has been stated before, a traditional 30 year mortgage is 20% down and the cost of the house should be no more than 2.5 to 3.5 times your annual income. If a household (average household) is making 40,000 a year in a area, then the average home prices should be no more than 140,000m and 28,000 down.

When these things come back into play, homes will start to sell again. Rigt now we have to wait for home owners to figure out what prices are supposed to be.

[SKB]

Originally Posted by geocycler

A few posts back someone said that the real estate market cannot recover until the dollar recovers. I'm no economist, so I would appreciate if some one could further elaborate on this point and explain the relationship between the domestic real estate market and a weak dollar. Thanks

Very good reading:

Hear Me Now - Believe Me Later

[Ten]

I wouldn't expect a housing market recovery period, geo; the fundamentals have changed. The US economy depends on bubbles and housing was only the latest. Some say the next will be alternative energy.

On the other hand, the relationship between a weak dollar and falling housing prices is an interesting one because you'd expect that weak dollars would raise housing prices. Nobody really knows whether the crashing dollar will result in inflation, hyperinflation, deflation, or stagflation, and whether that adjustment will affect all markets the way it is housing.

The point is that the Fed co-created the tech/dot-com bubble and then the housing bubble by printing cheap credit on thin air. Once those eras ended, and as the world began the process of taking the dollar off of its former exchange standard, dollar-tied credit markets crashed and with them so did the most recent bubble.