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Old 04-29-2008, 10:37 AM
 
Location: Humboldt Park, Chicago
2,686 posts, read 6,823,616 times
Reputation: 1174

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Buckhead Broker is engaging in personal attacks. That is not cool. We have rules that we need to all follow on here.

I agree that the last 5 years of RE in many markets was akin to a Ponzi, though perhaps not a full-blown one.

My degree is in economics.

Attacking one's intellect and accusing them of not knowing what a Ponzi scheme is simply because they disagree with you should not be tolerated on this forum.

Buckhead Broker,

I have no doubt you have a thorough understanding of your market as do I of mine. Nationally, we are both speculating based upon economic research we both read. I place much more faith in the Case Schiller and S&P Indexes, which show home prices declining and continuing to decline in the near future.

Whatever your viewpoint, respect fellow posters such as myself as View, whether we agree with you or not. It is just fair.

Huckleberry,

I don't see prices leveling and rising in 6 months, but I respect your opinion. I see prices declining another 15-20% over the next 12-24 months nationally, 12-18 here in Chicago. Even in areas such as NC I see values going down as you now have huge inventories to get rid of.

 
Old 04-29-2008, 12:29 PM
 
Location: Atlanta
738 posts, read 604,344 times
Reputation: 279
Quote:
Originally Posted by Humboldt1 View Post
Buckhead Broker is engaging in personal attacks. That is not cool. We have rules that we need to all follow on here.

I agree that the last 5 years of RE in many markets was akin to a Ponzi, though perhaps not a full-blown one.

My degree is in economics.

Attacking one's intellect and accusing them of not knowing what a Ponzi scheme is simply because they disagree with you should not be tolerated on this forum.

Buckhead Broker,

I have no doubt you have a thorough understanding of your market as do I of mine. Nationally, we are both speculating based upon economic research we both read. I place much more faith in the Case Schiller and S&P Indexes, which show home prices declining and continuing to decline in the near future.
What does that mean - "nationally"? Did you perhaps mean "naturally"? And it's not the Case Schiller and S&P indexes. The S&P index has nothing to do with home values. It's called the S&P/Case Shiller index. And furthermore, I've never said that I dodn't think home prices weren't going to fall further. If you've paid attention to any of my posts I've been consistent in stating that there is much more pain ahead. Geez!
 
Old 04-29-2008, 02:46 PM
 
3,283 posts, read 4,557,423 times
Reputation: 747
Quote:
Originally Posted by sheri257 View Post
2004 prices ... sure, we're already there. Makes sense since that's when we started seeing unreasonable 20-25 percent price gains.

But 1999? No way ...

i think prices started accelerating long before 2004.
 
Old 04-29-2008, 02:56 PM
 
3,283 posts, read 4,557,423 times
Reputation: 747
Quote:
Originally Posted by leavingbyron View Post
The OP did not mention which market he was referring to. In some areas, I could agree. For the areas that did not experience a bubble, I do not agree.

All I remember is in 1999, I was paying interest on my prior home at about 8.125% (and I had stellar credit).

So if prices go down to that level, what oh what will happen to interest rates????
Food for thought....
i think the fed realises just what a predicament they have put the economy into. the recent rate cuts were a quick fix to soften the blow. over the next few years inflation is going to take hold big time. i don't really know what they are going to do my my guess is once the dust settles interest rates are going to gradually creep up to 70's levels. that is why i reckon when the market does eventually bottom out, re prices will remain stagnant for a long time
 
Old 04-29-2008, 02:58 PM
 
3,283 posts, read 4,557,423 times
Reputation: 747
Quote:
Originally Posted by tamitrail View Post
My house was built in 2005...so I guess it was worth $0 in 1999. I guess I should just list it for free.
if you pay me 6 months worth of taxes i might consider taking it off your hands
 
Old 04-29-2008, 07:04 PM
 
Location: Atlanta
738 posts, read 604,344 times
Reputation: 279
Quote:
Originally Posted by Buckhead_Broker View Post
What does that mean - "nationally"? Did you perhaps mean "naturally"? And it's not the Case Schiller and S&P indexes. The S&P index has nothing to do with home values. It's called the S&P/Case Shiller index. And furthermore, I've never said that I dodn't think home prices weren't going to fall further. If you've paid attention to any of my posts I've been consistent in stating that there is much more pain ahead. Geez!
What's the matter Humbolt? Realize your errors? If you want to go head-to-head with the Master you'd better bring your "A" Game. Otherwise, stay under the porch with the little pups.
 
Old 04-29-2008, 07:14 PM
 
Location: Houston, Texas
469 posts, read 1,320,506 times
Reputation: 295
Quote:
Originally Posted by Buckhead_Broker View Post
What's the matter Humbolt? Realize your errors? If you want to go head-to-head with the Master you'd better bring your "A" Game. Otherwise, stay under the porch with the little pups.
Man Buckhead,

You know not everyone has a complete understanding of the markets and attacking them wont learn about it. So, please do me a favor don't keep it going. Unless you have had a bad week then what the heck have fun. J.K.
 
Old 04-29-2008, 07:21 PM
 
Location: Atlanta
738 posts, read 604,344 times
Reputation: 279
Quote:
Originally Posted by Jamesww View Post
Man Buckhead,

You know not everyone has a complete understanding of the markets and attacking them wont learn about it. So, please do me a favor don't keep it going. Unless you have had a bad week then what the heck have fun. J.K.
I am having fun - don't ruin it! And what is that about "attacking them won't learn about it"? Did you take English in school?
 
Old 04-29-2008, 07:38 PM
 
Location: Houston, Texas
469 posts, read 1,320,506 times
Reputation: 295
Quote:
Originally Posted by Buckhead_Broker View Post
I am having fun - don't ruin it! And what is that about "attacking them won't learn about it"? Did you take English in school?

Nope skipped english personally I like the hard sciences and economics. Econ only because I enjoy modeling. Mathematics is a much more pleasant and distinct language.
 
Old 04-29-2008, 07:40 PM
 
Location: Atlanta
738 posts, read 604,344 times
Reputation: 279
A little bit of English would have done wonders for you! Modeling? I prefer the real world.
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