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I rode it out here. And that statement is simply absurd. Who cares how much traffic is on our interchange if the people are spending nickles instead of C-Notes?
The people who listened to you in 2006 are likely STILL trying to claw their way out of the hole they dug for themselves.
And yet as soon as the question is posed, you answer this way:
No disclosure for our newbies about your track record. No disclosure that you've changed user names several times since the crash. You don't even have the Realtor designation on your user account. Have you ever? When you were posting as OleCapt and RePru and all the rest?
I'm sorry but anyone who uses local interchange as a indicator of economic health is not be taken seriously and has no understanding about how economy works. It's quit laughable I must say.
My view on Realtors and their NAR association and it's lobby is that they are dangerous for America and need to be dismantled. Look at the new apps and start up companies like UBER and LYFT. We need to find a way to eliminate the use of realtors and avoid paying uneceserry costs associated with buying and selling real estate in America.
You want to be a new millionare in America? Find a way how to save $$$$ to buyers and sellers + avoiding and eliminating the use of Realtors.
It's coming, it's just a matter of time.
I rode it out here. And that statement is simply absurd. Who cares how much traffic is on our interchange if the people are spending nickles instead of C-Notes?
The people who listened to you in 2006 are likely STILL trying to claw their way out of the hole they dug for themselves.
And yet as soon as the question is posed, you answer this way:
No disclosure for our newbies about your track record. No disclosure that you've changed user names several times since the crash. You don't even have the Realtor designation on your user account. Have you ever? When you were posting as OleCapt and RePru and all the rest?
You are not a regular commuter through the Spaghetti bowl. The I 15 interchanges would probably work as well. The correlation between traffic and economy is well established.
And you should point out that you blew a couple of hundred thousand dollars to save $38,000 so they understand what kind of RE investor you are.
I have never used the RE Agent designation and doubt I ever will. Most postings I do are not RE related.
Find something I have been wrong on over the last 5 years. Should be a piece of cake for an expert like you.
I think the real estate market will make at least modest gains until the next major election. I have no background beyond economics I took in college and what I have read on my own. That and life experience. I could easily be wrong, but I am comfortable with it.
I bought in 2004 and figured there would be a slump in home prices in three to five years. And that was due to all the interest only and variable rate mortgages being given to anyone with a pulse. Eventually, we figured the payments would rise above what people had budgeted for and there would be a wave of homes on the market forcing home prices downward. I predicted a slump, but not The Crash (but how could I, really?).
I am hopeful that prices will continue to gather momentum until I sell my house.
Is this why we have shortage of 700 teachers at the begging of this school year?
"There’s a Teacher Shortage Looming—Is Real Estate to Blame?"
"We’ve heard about police officers and firefighters priced out of the neighborhoods in which they work. Now a new class of civil servant is facing the same problem: Teachers are having their own housing crisis.
The housing market “hit low-income Americans hardest, but increasingly, it also means middle-income earners who hold key jobs—like teachers—can’t afford to live where they work,” .
“Across the country, districts are struggling with shortages of teachers, particularly in math, science and special education—a result of the layoffs of the recession years combined with an improving economy in which fewer people are training to be teachers,” wrote The New York Times.
Is this why we have shortage of 700 teachers at the begging of this school year?
"There’s a Teacher Shortage Looming—Is Real Estate to Blame?"
"We’ve heard about police officers and firefighters priced out of the neighborhoods in which they work. Now a new class of civil servant is facing the same problem: Teachers are having their own housing crisis.
The housing market “hit low-income Americans hardest, but increasingly, it also means middle-income earners who hold key jobs—like teachers—can’t afford to live where they work,” .
“Across the country, districts are struggling with shortages of teachers, particularly in math, science and special education—a result of the layoffs of the recession years combined with an improving economy in which fewer people are training to be teachers,” wrote The New York Times.
Teachers would be the first to be priced out, as fire fighters and police make six figures in las vegas valley after a couple of years on the force.
Silliness. We are talking Centennial here. Mortgage and taxes and MIP under $1000. Virtually everyone can handle that. It was when those houses were going for $400K that the thing collapsed
And it is new teachers. After a few years teachers are reasonably well paid.
I followed Scoop advice and looked up your old posts under the name Olecapt, pretty interesting.
You asked Scoop to find something to prove you were wrong in last 5 years, why limit to 5 years only?
Your posts were hilarious in 2009 and calling all those bottoms .
Here is one that qualifies under 5 years where you are calling for a stable market....lol
8/25/2010
OLECAPT
"Vegas remains pretty much as it has been. Flat pricing and volume down a bit month over month and year over year...but still the second best August in the last five years.
Pricing is running back up in August 140K median and 170K Average. So the July drop appears just to be bouncing along.
Everything appears to be stable. Inventory of REOs has risen as have sales...but sales appear to be stabilizing at about 40% with shorts and classics each running around 30%"
Your track record is horrendous and you apear to be a king of bad calls here.
That is simply a report of actuals. . One would really have to be dumb to argue with actruals. But go for it...you got the capability.
You are not a regular commuter through the Spaghetti bowl. The I 15 interchanges would probably work as well. The correlation between traffic and economy is well established.
And you should point out that you blew a couple of hundred thousand dollars to save $38,000 so they understand what kind of RE investor you are.
I have never used the RE Agent designation and doubt I ever will. Most postings I do are not RE related.
Find something I have been wrong on over the last 5 years. Should be a piece of cake for an expert like you.
It's great when people prove my point by trying to debate.
1) You are not trying to connect traffic and economy. You were attempting to connect traffic to real estate prices. That's an unbelievably far stretch. I doubt Plasticman could swing it.
2) I didn't become a real estate investor until after we purchased our first house. Primary residences aren't really investments. They can be. But they aren't always. They're primary residences. And unless someone is living in his parents' basement, as I suspect "new screen name every other day" chap is, shelter is just a sunk cost of life. Smart people will get that cost back, and perhaps even make a profit doing so.
But since people don't always have a choice when it comes to relocating, it isn't the same kind of investing as purchasing property to either flip or rent.
Your numbers are flat-out wrong. They're not even close to correct. And I even provided one of the starting numbers and the other is easily worked out knowing what rent goes for in this town. The fact that you think that purchasing a primary residence is "blowing money" is all anyone needs to read.
Have you stopped to consider that the reason you draw the ire of "new screen name every other day" chap is even that guy can read and can see that your real estate advice can be a dandy way to lose money.
But why argue with me when you can argue with yourself, from 2006
Quote:
Originally Posted by olecapt
If you are looking for a long term home - buy.
People should read that entire thread.
I haven't posted my prediction because it doesn't really matter. I think prices will go up slightly. Unless there's some new financial meltdown waiting in the wings, unknown to those of us who aren't neck-deep in the financial industry.
All recent economic data has been bad, economic signals are telling us that the economy is declining not rising. When the Fed starts reversing their terrible QE purchases do you people think there will be no effect? There is not a safe way to reverse the Fed's blown up balance sheet.
I could not have said it better myself.
Quote:
Originally Posted by Willy702
It's easy for people to think prices crash again because that is fresh in their minds, but barring major shocks it's just not realistic.
I believe a major shock is coming, much worse than 2008. The Economist magazine came out and said that we are going to have a new world currency "around" 2018. This is by no means a tin foil type publication. On the cover all the current world currencies are destroyed with the Phoenix world currency on top of them. This would require a severe crisis to achieve. My guess would be severe deflation first which would take down the stock market. As the stock market falls, the housing market will reverse downward with it. Then the reaction of the world central banks would be to print like crazy to stop it which will again reverse course. This is farther out than a year.
Quote:
Originally Posted by ScoopLV
The Eurozone could melt down and take us down with it. Again, unlikely. But could happen.
No, not unlikely, highly likely. If the Eurozone crisis gets bad enough it will spark a derivative crisis. That will greatly affect us.
It's great when people prove my point by trying to debate.
1) You are not trying to connect traffic and economy. You were attempting to connect traffic to real estate prices. That's an unbelievably far stretch. I doubt Plasticman could swing it.
2) I didn't become a real estate investor until after we purchased our first house. Primary residences aren't really investments. They can be. But they aren't always. They're primary residences. And unless someone is living in his parents' basement, as I suspect "new screen name every other day" chap is, shelter is just a sunk cost of life. Smart people will get that cost back, and perhaps even make a profit doing so.
But since people don't always have a choice when it comes to relocating, it isn't the same kind of investing as purchasing property to either flip or rent.
Your numbers are flat-out wrong. They're not even close to correct. And I even provided one of the starting numbers and the other is easily worked out knowing what rent goes for in this town. The fact that you think that purchasing a primary residence is "blowing money" is all anyone needs to read.
Have you stopped to consider that the reason you draw the ire of "new screen name every other day" chap is even that guy can read and can see that your real estate advice can be a dandy way to lose money.
But why argue with me when you can argue with yourself, from 2006
People should read that entire thread.
I haven't posted my prediction because it doesn't really matter. I think prices will go up slightly. Unless there's some new financial meltdown waiting in the wings, unknown to those of us who aren't neck-deep in the financial industry.
Same old nonsense Scoop. Your posts have repeatedly demonstrated you have no real understanding of any of this stuff. And it is actually plausible that you lost a couple of 100,000 because you jumped at the wrong time. I personally doubt you did it knowledgeably but who knows.
Ohh and traffic correlates with economy and economy correlates with RE prices. I know it is a lot to think about but try...you may manage to rise to it.
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