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V's don't happen in real estate. Once we hit the bottom, expect up to a decade of stagnation in nominal prices. Assuming we have inflation, that means the longer you wait, the better off you are, until prices pick up again.
I agree with you, but others seem to have the "buy now or be priced out forever" mentality. This is what I'm questioning...WHY do people think this.
I agree with you, but others seem to have the "buy now or be priced out forever" mentality. This is what I'm questioning...WHY do people think this.
can you link to a post, any single post, where anyone said this (not in jest) ...?
I think that every R.E. "bull" on here simply wants housing to stabilize (i.e. stop declining) because we know that housing is now, unfortunately, inextricably, linked to the health of the overall US economy.
to cheer price declines is to cheer the recession onward.
and that is what I'm questioning -- all the talk of wanting prices to come to some imaginary parallel with incomes is a diversion.
can you link to a post, any single post, where anyone said this (not in jest) ...?
I think that every R.E. "bull" on here simply wants housing to stabilize (i.e. stop declining) because we know that housing is now, unfortunately, inextricably, linked to the health of the overall US economy.
to cheer price declines is to cheer the recession onward.
and that is what I'm questioning -- all the talk of wanting prices to come to some imaginary parallel with incomes is a diversion.
Settle down Beavis. I for one THINK prices will decline. Again I think prices will decline. Sorry for having this opinion.
can you link to a post, any single post, where anyone said this (not in jest) ...?
I think that every R.E. "bull" on here simply wants housing to stabilize (i.e. stop declining) because we know that housing is now, unfortunately, inextricably, linked to the health of the overall US economy.
to cheer price declines is to cheer the recession onward.
and that is what I'm questioning -- all the talk of wanting prices to come to some imaginary parallel with incomes is a diversion.
Accommodation is a consumer good. Cheaper housing is good, just like cheaper gas is good, and cheaper cars are good.
Obviously people can only spend what they earn (the days of living on credit are over) so clearly the price of housing must be related to incomes.
Lower house prices is a necessary step to the US economy recovering, where recovering means not just inflating another bubble. Why do you want the US economy to stay imbalanced for longer than necessary?
but, please do keep renting -- landlords love you paying their mortgage for them !
Didn't you promise to stop your commenting on housing threads?
Cause all you do is spew misinformation...
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