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I believe-correct if I am wrong-that foreclosures are excluded from the case schiller index.
Also giving a $15K credit it will translate to a $100billion tax loss which is unlikely.
Can anyone point to any clear evidence that we have hit bottom?
My opinion is that we are headed for some rough times. What little improvements we have seen in housing and the stock market are a result of government intervention. Bernanke has lowered interest rates to zero. He has backstopped the entire financial system with $13 trillion. He has monetized an ungodly amount of mortgage backed securities. Guess what, nothing has worked.
The gov't has tried to reinflate the bubble and has failed. The prevailing decline will take over and it will, more than likely, result in the collapse of the dollar.
Now, moorestown will get on here and tell me that I am wrong and all this negativily is media hype. He is wrong.
Let's check back in here in 18 months and see who is closer in thier prediction.
this from cnbc, it makes no sense to me maybe i havent had my coffee yet. What is the difference between inventory of homes available vs supply of homes available....
Quote:
The inventory of homes available for sale in July fell 3.2 percent to 271,000 units, the lowest since March 1993, the department said.
July's sales pace left the supply of homes available for sale at 7.5 months' worth, the lowest since April 2007.
this from cnbc, it makes no sense to me maybe i havent had my coffee yet. What is the difference between inventory of homes available vs supply of homes available....
The first sentence refers to the size of the inventory where the units are # of houses.
The second refers to the size of the inventory in where the units are whole number multiples of the most recent sales pace.
this from cnbc, it makes no sense to me maybe i havent had my coffee yet. What is the difference between inventory of homes available vs supply of homes available....
Absolutely. Shiller is the most bearish of the bears and even he says the turnaround is 'impressive'. Of course I successfully called bottom 6-9 months ago. And I'm just waiting for the posts that say - prices are STILL DOWN -4000% since last year!!!!!
Which has about as much to do with the subject as me posting what I had for breakfast.
Actually, I called the bottom 2 months ago, and looks like I was dead on! Of course, it was a SWAG, but I got it!
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