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Old 05-13-2010, 10:16 AM
 
259 posts, read 345,590 times
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Simple supply and demand. Right now, in a buyers market, supply is outpacing demand....go for buyers.
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Old 05-13-2010, 10:35 AM
 
Location: Union County
5,039 posts, read 4,676,513 times
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Quote:
Originally Posted by jtees4 View Post
Simple supply and demand. Right now, in a buyers market, supply is outpacing demand....go for buyers.
It's absolutely not "simple supply and demand" - disagree completely.

Housing does not follow what we learn about in economics as traditional supply and demand.
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Old 05-13-2010, 11:57 AM
 
Location: Strong Island
128 posts, read 194,986 times
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Quote:
Originally Posted by MikeyKid View Post
It's absolutely not "simple supply and demand" - disagree completely.

Housing does not follow what we learn about in economics as traditional supply and demand.

It certainly does.
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Old 05-13-2010, 12:01 PM
 
Location: Nassau, Long Island, NY
15,734 posts, read 16,013,835 times
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Quote:
Originally Posted by MikeyKid View Post
It's absolutely not "simple supply and demand" - disagree completely.

Housing does not follow what we learn about in economics as traditional supply and demand.
If we're talking about pricing, historically, the value of a home owned went up between 3-5% per year owned.

That was directly in sync with salary gains per year nationwide and it made sense, as you need an income to buy a home and the income should keep pace with the cost of homes.

Now with the bubbles, things have gone askew.

Last edited by I_Love_LI_but; 05-13-2010 at 12:13 PM..
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Old 05-13-2010, 12:53 PM
 
1,824 posts, read 1,366,887 times
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Quote:
Originally Posted by jtees4 View Post
Simple supply and demand. Right now, in a buyers market, supply is outpacing demand....go for buyers.
Absolutely positively not. There was at no time a run on housing. In fact during the bubble there was more housing movement then years prior indicating quite the opposite.
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Old 05-13-2010, 01:17 PM
 
Location: Union County
5,039 posts, read 4,676,513 times
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Quote:
Originally Posted by OvertaxedinMass View Post
It certainly does.
Quote:
Originally Posted by I_Love_LI_but View Post
If we're talking about pricing, historically, the value of a home owned went up between 3-5% per year owned.

That was directly in sync with salary gains per year nationwide and it made sense, as you need an income to buy a home and the income should keep pace with the cost of homes.

Now with the bubbles, things have gone askew.
Well let's look at it as "simple supply and demand", which is the statement I commented on.

Time and time again we see the realtors on these boards (the "experts") report how the housing market is cyclical - depending who you ask that cycle can vary in number of years. Regardless, if it follows a "set cycle", then it doesn't follow a traditional supply and demand.

If we agree that these experts on the housing market are wrong and it just follows simple supply and demand, then how do you ignore the other forces that impact prices... Like the ability to get financing. We don't pay for this product "in cash", so the demand is constrained by access to funding. Which is further manipulated by the banks and govt with interest rates. What about the fact that the reporting / oversight of housing statistics are held by the very group that makes its money off that very market. There's next to no transparency and we get our snippets of "data" through mainstream media outlets. "Now's the time to buy!" It all plays to the EMOTION of homeownership... so often logic is thrown out the window on both sides, buyer or seller.

All that aside - as a buyer you see it time and time again... The prices are set by the seller and whether it's a number they "deserve" or "have to get" they typically do not care about the available supply and/or the demand.

I just don't agree at all that it's "simple supply and demand". These aren't widgets.
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Old 05-13-2010, 01:53 PM
 
1,303 posts, read 2,075,450 times
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Quote:
Originally Posted by Salaryman View Post
We just signed a contract to buy in Nassau County. The monthly nut can be covered by one of the two incomes so we're fairly comfortable with the cost.

To tell you the truth, it's scary as all heck to do this but our growing family is forcing our hand (3 little ones, school aged). Nothing ventured, nothing gained as they say.

Salaryman
I think most on this forum are thinking you should change your handle to "BIG-Salaryman"....
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Old 05-14-2010, 12:58 PM
 
34 posts, read 53,209 times
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Quote:
Originally Posted by Jrprofess View Post
I think most on this forum are thinking you should change your handle to "BIG-Salaryman"....

BIG - salary! I wish

There are plenty of folks making a lot more than me in NYC.
Just trying to live right and within our means, that's all.

From Wiki:

Salaryman (サラリーマン, Sararīman?, salaried man) refers to someone whose income is salary based; particularly those working for corporations. Its frequent use by Japanese corporations, and its prevalence in Japanese manga and anime has gradually led to its acceptance in English-speaking countries as a noun for a Japanese white-collar businessman. The word can be found in many books and articles pertaining to Japanese culture. Immediately following World War II, becoming a salaryman was viewed as a gateway to a stable, middle-class lifestyle. In modern use, the term carries associations of long working hours, low prestige in the corporate hierarchy, absence of significant sources of income other than salary, wage slavery, and karōshi. The term salaryman refers exclusively to males, and for females the term Career woman is used.
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Old 05-14-2010, 01:12 PM
 
Location: Nassau, Long Island, NY
15,734 posts, read 16,013,835 times
Reputation: 6376
Quote:
Originally Posted by Salaryman View Post
BIG - salary! I wish

There are plenty of folks making a lot more than me in NYC.
Just trying to live right and within our means, that's all.

From Wiki:

Salaryman (サラリーマン, Sararīman?, salaried man) refers to someone whose income is salary based; particularly those working for corporations. Its frequent use by Japanese corporations, and its prevalence in Japanese manga and anime has gradually led to its acceptance in English-speaking countries as a noun for a Japanese white-collar businessman. The word can be found in many books and articles pertaining to Japanese culture. Immediately following World War II, becoming a salaryman was viewed as a gateway to a stable, middle-class lifestyle. In modern use, the term carries associations of long working hours, low prestige in the corporate hierarchy, absence of significant sources of income other than salary, wage slavery, and karōshi. The term salaryman refers exclusively to males, and for females the term Career woman is used.
So a "Salaryman" is a Dilbert type! How's the cube farm doing?
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Old 05-14-2010, 01:20 PM
 
34 posts, read 53,209 times
Reputation: 10
Quote:
Originally Posted by I_Love_LI_but View Post
So a "Salaryman" is a Dilbert type! How's the cube farm doing?
Pretty square, from my perspective.

Dilbert's "Salary Theorem" states: "Scientists and Engineers (compliance folks included) can never earn as much as administrators and sales people."

TGIF.

Salaryman
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