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Old 04-27-2010, 02:32 AM
 
Location: Here and there, you decide.
12,908 posts, read 27,991,974 times
Reputation: 5057

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umm homes are closing above list, not below
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Old 04-27-2010, 07:56 AM
 
365 posts, read 423,597 times
Reputation: 381
Yea, somehow I dont think the bottom is in....and prices are still relatively high in Las Vegas....The bottom wont be in untill jobs come back.....thats just the way it is....
NO work means you cant afford the home or support the home....it also means people are leaving to other parts of the country to find work.
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Old 04-27-2010, 08:12 AM
 
177 posts, read 357,133 times
Reputation: 55
Quote:
Originally Posted by strato58 View Post
Yea, somehow I dont think the bottom is in....and prices are still relatively high in Las Vegas....The bottom wont be in untill jobs come back.....thats just the way it is....
NO work means you cant afford the home or support the home....it also means people are leaving to other parts of the country to find work.
Believe me or not.
The value of my house in LA has increased 30% from last year's bottom. Jobs haven't come back yet but the bottom was in. Ridiculous?
Keep in mind that LA has an unemployment rate of 12.5%.
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Old 04-27-2010, 08:18 AM
 
365 posts, read 423,597 times
Reputation: 381
I think I can believe that more for LA than for LV....LV is driven by the casino industry only....and that continues to be pretty bad.
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Old 04-27-2010, 08:22 AM
 
Location: Bethesda, MD
317 posts, read 1,003,281 times
Reputation: 111
Quote:
Originally Posted by eventusstultorummagister View Post
Are you talking about the "total value" of transactions?



National Association of Realtors (NAR)
June 9, 2008

Home Sales May Rise Modestly Before Broader Upturn In Second Half Of 2008:
.
2008 ? misprint ?
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Old 04-27-2010, 08:27 AM
 
Location: Bethesda, MD
317 posts, read 1,003,281 times
Reputation: 111
Quote:
Originally Posted by strato58 View Post
Yea, somehow I dont think the bottom is in....and prices are still relatively high in Las Vegas....The bottom wont be in untill jobs come back.....thats just the way it is....

NO work means you cant afford the home or support the home....it also means people are leaving to other parts of the country to find work.
I think same !
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Old 04-27-2010, 10:15 AM
 
2,724 posts, read 4,763,638 times
Reputation: 1042
Quote:
Originally Posted by mresort View Post
Believe me or not.
The value of my house in LA has increased 30% from last year's bottom. Jobs haven't come back yet but the bottom was in. Ridiculous?
Keep in mind that LA has an unemployment rate of 12.5%.
We are witnessing the unbridled formation of yet another bubble, the most likely scenario now is a "W" shaped recovery with lots of ups and downs.

GET READY FOR A RUNAWAY RECOVERY?
Get ready for a runaway recovery? | Inman News


...Hang on tight kids!
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Old 04-27-2010, 11:56 AM
 
Location: Bethesda, MD
317 posts, read 1,003,281 times
Reputation: 111
Quote:
Originally Posted by eventusstultorummagister View Post
We are witnessing the unbridled formation of yet another bubble, the most likely scenario now is a "W" shaped recovery with lots of ups and downs.

GET READY FOR A RUNAWAY RECOVERY?
Get ready for a runaway recovery? | Inman News


...Hang on tight kids!
Relax tight kids!

@ eventusstultorummagister

Did you read this for youself ?

Get ready for a runaway recovery? | Inman News


its say
"On the supply side of the equation, Rosen expects new housing production will remain below the historical norm of 1.1 million homes a year, and will take two to three years to bounce back. But he expects foreclosures to set new records in 2010 and for problems to drag into 2011."
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Old 04-27-2010, 12:03 PM
 
2,724 posts, read 4,763,638 times
Reputation: 1042
Quote:
Originally Posted by Natali :) View Post
Relax tight kids!

@ eventusstultorummagister

Did you read this for youself ?

Get ready for a runaway recovery? | Inman News


its say
"On the supply side of the equation, Rosen expects new housing production will remain below the historical norm of 1.1 million homes a year, and will take two to three years to bounce back. But he expects foreclosures to set new records in 2010 and for problems to drag into 2011."
Affirmative, and although I don't particularly agree with all of his assertions one thing I do concur on is that "the shadow inventory is real"
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Old 04-27-2010, 01:25 PM
 
4,538 posts, read 10,628,669 times
Reputation: 4073
Quote:
Originally Posted by mresort View Post
Believe me or not.
The value of my house in LA has increased 30% from last year's bottom. Jobs haven't come back yet but the bottom was in. Ridiculous?
Keep in mind that LA has an unemployment rate of 12.5%.
Inventory was at a several year low for much of 2009 in many parts of LA.

It still is. 3 MLS listings in Los Feliz? Are you kidding me? There are at least 25 homes in Los Feliz in various states of repair that will be listing soon. Thats 800% shadow inventory there. Same thing where I live in Valley Glen. Around 27 mls listings, around 100 vacant properties. West LA? Like 9 MLS listings, around 150 vacant properties.

One heck of a game the banks are playing here, at least in targeted areas. So if you are planning to sell, knock yourself out, and take your profits. If not, don't even bother mentioning your paper gains because they won't last.

Now back to Vegas....................
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