[eventusstultorummagister]

That bottom looks awful rocky...

[olecapt]

Originally Posted by tony soprano

No argument there. There is an upside to falling prices; lower property taxes and new opportunities for potential home buyers who had previously been priced out of the market. But, let's call it for what it is - falling prices. A new all time SFR median low was just set in October. If it holds, it will mark the bottom of the market. Oh, and congrats on the lower payments!

Nope. Flat out wrong.

[tony soprano]

Originally Posted by olecapt

Nope. Flat out wrong.

Good description of your April '09 bottom call. Or any of your bottom calls for that matter. We're talking lows since the bubble burst.

[007 license to sell]

I think you will find this article interesting, it sheds light on what is being done to try and turn our economy around and some of the obstacles that keep popping up.

Official: Varied business base will help Las Vegas flee recession

[MadManofBethesda]

Originally Posted by RCCCB

I don't think the economy improved one iota. There was a blip that supposedly broke the recession because of so called growth in the economy, but that growth was temporary and bought by the government with the thousands to buy a car and hundreds of thousands hired for a few months regarding the census.
Worst is ahead IMO.

Huh?

A blip?
Supposedly ended the recession?
Temporary growth?

Are you at all familiar with economic statistics?
Do you even know the official definition of a recession?
Are you aware that the U.S. has had five straight quarters of economic growth?

That's a blip?
That's temporary?

Five straight quarters of positive GDP is due to the census and "cash for clunkers"?

Really?

[olecapt]

Originally Posted by tony soprano

Good description of your April '09 bottom call. Or any of your bottom calls for that matter. We're talking lows since the bubble burst.

So you admit you are again wrong. The only thing you are consistent about.

The October average is also a bottom since the bubble. So what? You are unable to read the trend in the data?

[tony soprano]

Originally Posted by olecapt

So you admit you are again wrong. The only thing you are consistent about.

Analysts Warn That Home Prices Could Drop To New Lows In 2011

You'll notice the headline above doesn't tell the readers new lows since 1990, 1950, or 1900, even though prices were lower then. Why? Because it's generally understood the reader is smart enough to understand the discussion is about prices since the bubble burst. Although, as you aptly display, that's not always the case.

The October average is also a bottom since the bubble. So what? You are unable to read the trend in the data?

I don't care how you wish to dress up price erosion. It's putting lipstick on a pig. Yes, the free fall has stopped. Everyone knows that and it's not news. That doesn't change the fact that the SFR median put a new low in October (for the slow ones, the new low since the bubble burst).

[olecapt]

Originally Posted by tony soprano

Analysts Warn That Home Prices Could Drop To New Lows In 2011

You'll notice the headline above doesn't tell the readers new lows since 1990, 1950, or 1900, even though prices were lower then. Why? Because it's generally understood the reader is smart enough to understand the discussion is about prices since the bubble burst.

You pick your words badly and it is my fault? Why not simply admit you misstated the point and move on.

Although, as you aptly display, that's not always the case. I don't care how you wish to dress up price erosion. It's putting lipstick on a pig. Yes, the free fall has stopped. Everyone knows that and it's not news. That doesn't change the fact that the SFR median put a new low in October (for the slow ones, the new low since the bubble burst).

And again the much more rational average also hit a bottom in October. Look at the data above. What does it say about the last 14 months or so?

YOu can continue to deny the obvious truth...but it won't go away. We are in a stable bottom. And eventually we will begin to climb out.

Yes, of course it could go south again. A turn for the worse in the national economy might well do that. But it does not appear likely at this point.

[tony soprano]

Originally Posted by olecapt

You pick your words badly and it is my fault? Why not simply admit you misstated the point and move on.

It's not my fault fault that you can't follow along. You seem to be the only one that doesn't know that I was talking post-bubble burst.

And again the much more rational average also hit a bottom in October. Look at the data above. What does it say about the last 14 months or so?

Median prices have been the norm to track Vegas housing prices since this thread's inception. It is by far the more widely reported number, and for a reason -

The median home price is one of the most common measurements used to compare real estate prices in different markets, areas, and periods. It is said to be less biased than the mean (average) price since it is not as heavily influenced by small number of very highly priced homes.
Real estate pricing - Wikipedia, the free encyclopedia

This thread is almost three years old and now we should all use average prices? Go take a hike. For the same time period that your previously posted graph covers, the median house price is down 17%. You can call that "bumping along the bottom" all you want. I'll call it for what it is, further price erosion.

YOu can continue to deny the obvious truth...but it won't go away. We are in a stable bottom. And eventually we will begin to climb out.

Yes, of course it could go south again. A turn for the worse in the national economy might well do that. But it does not appear likely at this point.

What exactly have I denied? In fact, I'm on the record as saying that we're likely very close to the bottom now that the greatest contrarian indicator on this board (you) has thrown in the towel and finally recognized that it's likely there will be no housing price appreciation for years.

[007 license to sell]

In case you didn't see the interview on 60 minutes last night you may want to watch this. If it's true that unemployment is going to stay high for 4 yrs and housing is going to continue that long or longer according to Bernanke that is important news regarding when Vegas will see housing turn around. Especially since we depend heavily on tourism, will have a longer impact on the ability of employers highering more and people selling their homes and moving to Vegas.
[SIZE=4]60 Minutes - Interviews, Profiles & Reports - CBS News[/SIZE]
Dec 5, 2010 ... Visit 60 Minutes on CBS News: Watch Andy Rooney commentary, browse photographs, watch video, and read investigative ... Interview with Federal Reserve Chairman Ben Bernanke .... September 12, 2010. Web Extra: On Stage ...
www.cbsnews.com/.../60minutes/main3415.shtml -