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Old 03-07-2010, 04:56 PM
 
1,347 posts, read 2,449,050 times
Reputation: 498

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Quote:
Originally Posted by olecapt View Post
You simply don't follow. The volume comment was in 2008. It was absolutely accurate. The 2009 comment was that the price trend was not sustainable and change would occur in pretty quickly - specifically in around 90 days. It did and I called it a likely bottom at that time.

Sorry Tony you just don't follow this stuff.
As noted, the conversation I quoted was referring to housing prices, not volume. Geos says price increases won't come until "some distant point." You say the price trend is unsustainable, yet 11 months later prices are 9% lower. ROFL!!

Unfortunately for you, plenty of people follow this stuff.
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Old 03-07-2010, 06:52 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,212,370 times
Reputation: 2661
Quote:
Originally Posted by tony soprano View Post
As noted, the conversation I quoted was referring to housing prices, not volume. Geos says price increases won't come until "some distant point." You say the price trend is unsustainable, yet 11 months later prices are 9% lower. ROFL!!

Unfortunately for you, plenty of people follow this stuff.
Again you are misleading. The market stopped dropping in 90 days as projected. The median in February is above the median in August. So prices since the 90 days are flat. Sorry Tony it bottomed as projected and so far has stayed there. And watch this spring...it looks interesting.
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Old 03-07-2010, 08:36 PM
 
1,347 posts, read 2,449,050 times
Reputation: 498
Quote:
Originally Posted by olecapt View Post
Again you are misleading. The market stopped dropping in 90 days as projected. The median in February is above the median in August. So prices since the 90 days are flat. Sorry Tony it bottomed as projected and so far has stayed there. And watch this spring...it looks interesting.
Complete nonsense. You told geos the trend was unsustainable in March, 2009. 11 months later, the downtrend remains intact. You also suggested something had to give in 90 days. Prices were lower 90 days later and they remain lower 11 months later.

March 2009 SFR median housing price - $149K
February 2010 SFR median housing price - $135.7K
Change (-9%)
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Old 03-07-2010, 08:55 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,212,370 times
Reputation: 2661
Quote:
Originally Posted by tony soprano View Post
Complete nonsense. You told geos the trend was unsustainable in March, 2009. 11 months later, the downtrend remains intact. You also suggested something had to give in 90 days. Prices were lower 90 days later and they remain lower 11 months later.

March 2009 SFR median housing price - $149K
February 2010 SFR median housing price - $135.7K
Change (-9%)
Once more and then we will let you have the last word as you will take it anyway.

Next price report...
April of 2009 - Median Price - $141.7K

90 Days later skip May to July
August of 2009 - Median Price - $135.5K

Current
February of 2010 - Median Price - $135.7K

Up 0.2% from August 2009

OK - Now you can make your last lie... I mean word...
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Old 03-07-2010, 08:57 PM
 
1,347 posts, read 2,449,050 times
Reputation: 498
Here's a conversation that started two years ago when you were educating everyone in the thread why Vegas housing prices wouldn't fall much more -
Quote:
Originally Posted by bumpercar on 3/2/2008
Prices are about to zoom to to the moon. Get in now before:

1) The line at the courthouse (to record your deed) gets too long from all the foreclosures being processed.

2) Mortgages completely dry up as Fannie Mae and Freddie blow their last capital wads from their recently increased lending limits.

3) The economy enters a deep recession.

4) Banks start to fail.
Quote:
Originally Posted by olecapt on 3/2/2008
Would not surprise me in the least in spring 2009. Very high probability by spring 2010.

You think it can't happen? Watch...
Quote:
Originally Posted by SLCPUNK on 3/8/2008
You've got to be kidding.

I'll bet you a nice steak dinner it won't happen.
Quote:
Originally Posted by olecapt on 3/8/2008
You are on... By March of 2010 median and average prices will exceed todays

levels...
http://www.city-data.com/forum/3072525-post55.html

March 2008 median SFR housing price - $243.1K
February 2010 SFR median housing price - $135.7K
Change (-44%)

Granted, we still have to wait for the March, 2010 data, but I think it's pretty safe to say that you're going to owe someone a steak dinner. Maybe you can tell him you were talking about volume, not price. Oops, you specifically stated prices would be higher. Maybe you can say you were quoted out of context? No, that won't work. Well, maybe you can just push the date out to March, 2011 or 2012?

Guess early and often. Sooner or later you'll be right.
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Old 03-07-2010, 09:02 PM
 
1,347 posts, read 2,449,050 times
Reputation: 498
Quote:
Originally Posted by olecapt View Post
Once more and then we will let you have the last word as you will take it anyway.

Next price report...
April of 2009 - Median Price - $141.7K

90 Days later skip May to July
August of 2009 - Median Price - $135.5K

Current
February of 2010 - Median Price - $135.7K

Up 0.2% from August 2009

OK - Now you can make your last lie... I mean word...
It's quite simple - what have prices done since you told geos in March, 2009 that the trend was unsustainable? I'll even help you with the numbers:

March 2009 SFR median housing price - $149K
February 2010 SFR median housing price - $135.7K
Change (-9%)
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Old 03-07-2010, 09:42 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,212,370 times
Reputation: 2661
Quote:
Originally Posted by tony soprano View Post
Here's a conversation that started two years ago when you were educating everyone in the thread why Vegas housing prices wouldn't fall much more -http://www.city-data.com/forum/3072525-post55.html

March 2008 median SFR housing price - $243.1K
February 2010 SFR median housing price - $135.7K
Change (-44%)

Granted, we still have to wait for the March, 2010 data, but I think it's pretty safe to say that you're going to owe someone a steak dinner. Maybe you can tell him you were talking about volume, not price. Oops, you specifically stated prices would be higher. Maybe you can say you were quoted out of context? No, that won't work. Well, maybe you can just push the date out to March, 2011 or 2012?

Guess early and often. Sooner or later you'll be right.
Hey after failed attempt after failed attempt you finally found one where I actually got it wrong. I agree I blew that one. I hereby swear not to reach out more than a year. I could argue that the world turned completely on its head in the interim...but I won't. I should not reach out past what I can see with reasonable clarity.

Now it is your turn to agree with the fact that I have been right on everything else since.

You won't... I expect you can't....
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Old 03-07-2010, 10:31 PM
 
1,347 posts, read 2,449,050 times
Reputation: 498
Quote:
Originally Posted by olecapt View Post
Hey after failed attempt after failed attempt you finally found one where I actually got it wrong. I agree I blew that one. I hereby swear not to reach out more than a year. I could argue that the world turned completely on its head in the interim...but I won't. I should not reach out past what I can see with reasonable clarity.
Translation = I can't find a way to retract or otherwise deny what's in black & white. By all means, argue that the world turned on its head. It doesn't change the fact that you were horrifically wrong and owe someone dinner.
Quote:
Now it is your turn to agree with the fact that I have been right on everything else since.

You won't... I expect you can't....
I won't because it's demonstrably false. How's that trend from March 2009?
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Old 03-08-2010, 11:30 PM
 
4,538 posts, read 10,632,544 times
Reputation: 4073
Quote:
Originally Posted by olecapt View Post
I could argue that the world turned completely on its head in the interim...but I won't.
ROTFLMFAO

Quote:
Originally Posted by olecapt View Post
I should not reach out past what I can see with reasonable clarity.
LOL, then don't reach out at all.
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Old 03-09-2010, 11:40 AM
 
34 posts, read 158,213 times
Reputation: 26
Quote:
Originally Posted by mresort View Post
I always tell people if they have extra money they should pick up some good deals here. Choose the right location and pay the right price. "A climate of fear is investors' best friend". "When it's raining gold, reach for a bucket, not a thimble".
mresort, where is the right location? I'm searching for vacation rental properties to rent out, haven't determined yet if City Hall will let me.

If vacation rentals is not the way to go, what type of property is the best bet... multi fam., commercial, industrial, etc.? I'm looking for positive net income and good capital gain in the relatively near future.

Would be good to read your opinion, as well as anyone else's.
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