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Old 05-26-2009, 08:11 AM
 
1,986 posts, read 2,565,327 times
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Default Case Shiller Results, May 26 2009

Somebody out there likes that I post this and it's easy enough to do, so here it is:

A Look at Case-Shiller Numbers, by Metro Area (May 2009 update) - Real Time Economics - WSJ
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Old 05-26-2009, 02:34 PM
 
5,168 posts, read 3,324,523 times
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A tsunami is usually 3-4 large waves crashing ashore. There will be more large waves during this foreclosure tsunami. Year over year prices will be down 10% this time next year and 6-8% the year after that. Do not buy any of the hogwash about a recovering or stabilizing Housing market.
It is created by the Realty associations to create a sense of urgency so people rush to buy homes.
Less bad does not Mean Stabilizing. Tell me how a real estate market declining at a 15% rate is stabilizing!


OP-Thank you for the link.
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Old 05-26-2009, 03:59 PM
 
Location: Houston, TX
15,136 posts, read 14,204,165 times
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Good info...Im struggling with a seller who think his property appreciated 15% in the last two years in Texas.
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Old 05-26-2009, 04:02 PM
 
Location: Barrington
17,329 posts, read 12,487,077 times
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Were your ears ringing this morning? I thought about you, when I heard the numbers.
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Old 05-26-2009, 05:52 PM
 
Location: Great State of Texas
71,239 posts, read 31,549,730 times
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Quote:
Originally Posted by Oildog View Post
Good info...Im struggling with a seller who think his property appreciated 15% in the last two years in Texas.
Texas hasn't fallen as bad as the other states. With that said though I have my home for 10 years and I'm protesting this year..the county thinks my home is worth 20K more than an appraiser from my refinance.

Prices are coming down though but it depends where you are looking.
The cities are still enjoying some price appreciation..IMHO due to escapee Californians who think everything in Texas is cheap which it is compared to California prices.
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Old 05-27-2009, 08:12 AM
 
5,168 posts, read 3,324,523 times
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Here is some more bad news. Exisiting home sales up 2.9% but inventory up 8.8%

Existing Home Sales Rise 2.9% as Prices Plunge - Real Estate * US * News * Story - CNBC.com

But for some odd reason Real estate industry insiders say "according to an industry survey on Wednesday that supported views the three-year housing recession was near a bottom. "

What? Sales increase 2.9 but inventory is up 8.8 Please tell me what indication there is this is near a bottom.

Typical Real Estate industry spin.
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Old 05-28-2009, 09:48 PM
 
Location: Conejo Valley, CA
12,167 posts, read 9,535,902 times
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Things start to moderate in the selling season, this stuff about the market bottoming was all said last year and the year before it too. In another month or so, the downward swing will come back.
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Old 05-29-2009, 06:07 AM
 
1,986 posts, read 2,565,327 times
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Quote:
Originally Posted by cleanhouse View Post
A tsunami is usually 3-4 large waves crashing ashore. There will be more large waves during this foreclosure tsunami. Year over year prices will be down 10% this time next year and 6-8% the year after that. Do not buy any of the hogwash about a recovering or stabilizing Housing market.
It is created by the Realty associations to create a sense of urgency so people rush to buy homes.
Less bad does not Mean Stabilizing. Tell me how a real estate market declining at a 15% rate is stabilizing!
This article came out two days after your post above. Were you wearing your Carnac the Magnificent psychic hat when you posted?

Foreclosures Surge as Stabilization Drifts Further Away : HousingWire || financial news for the mortgage market


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Old 05-29-2009, 10:31 AM
 
1,253 posts, read 938,406 times
Reputation: 891
"ahhhh....yessss sir, you are correct, oh-breath-of-bail-out."
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Old 05-29-2009, 12:55 PM
 
5,168 posts, read 3,324,523 times
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Quote:
Originally Posted by cohdane View Post
This article came out two days after your post above. Were you wearing your Carnac the Magnificent psychic hat when you posted?

Foreclosures Surge as Stabilization Drifts Further Away : HousingWire || financial news for the mortgage market

Pick a payment mortgages: Where you pay a loan and the principal increases. It s a Bizzaro World Loan.
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