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That’s quite a hedge. Somewhere between values won’t appreciate to values might lose 67.5%.
backtracking begins.
I feel confident that if someone searches my posts, as they pertain to Triangle real estate, over the last 10 days, I have not said values would increase. I have been talking about where activity IS.
As EdwardTeach points out - if someone wants to try and "time the market" for a purchase, they are welcome to. But the pure financial aspect of "I'll wait for the values to drop" shouldn't be a major concern for anyone that's not an investor/landlord.
I *could* make a case for this following historical trends ... that winter is slow as people are "cooped up" in their home. This is obviously the ultimate coop-up. When weather warms, a % those cooped up people historically have said "we need a bigger house!" or at least "I want a different house!"
But that would be speculation, and we're nowhere near the time to speculate on anything other than "let's overcome this"
Showings this past weekend, 2019: 7,375
Showings this past weekend, 2020: 4,832 - that's down 34%
That's expected and dramatic. On the "bright side" there were still a number of showings. And it appears (using Status Date since Friday, though some agents surely haven't updated TMLS) 506 homes went under contract. There are 3900 under contract, though surely many will close before 3/31.
End of March 2009, there were 1912 under contract.
Umm, Bill Ackman isn't predicting a huge meltdown. Just the opposite:
"Billionaire investor Bill Ackman, who leads Pershing Square Capital Management, said in a Monday interview with Bloomberg TV that he recently bet $2.5 billion that the US economy will recover quickly from the shock of the coronavirus pandemic.
Ackman said that he's removed all hedges that he had in place to offset the coronavirus pandemic, which were short positions in the credit market. In the last week and a half, he's taken the money from those hedges — roughly $2.5 billion, he said — and increased his position in a number of equities including Starbucks, Agilent, Lowe's, and Warren Buffett's Berkshire Hathaway.
He made the bets because he sees the US making progress in its efforts to combat the coronavirus pandemic. "We are all long, no shorts, betting on the country," he said, adding that the portfolio still has some cash.
Here is part of an article by Dr. Mike Walden, today:
North Carolina’s economy will be wracked by 250,000 job losses – some 70,000 more than the entire total reported across the state in January – by the expanding devastation being wreaked by the coronavirus, according to a new estimate from NC State economist Dr. Mike Walden. “Economists have been increasing their estimates of commercial and employment damage,” Walden told WRAL TechWire early Monday. “The increase in job losses could top 250,000 in North Carolina.”
“Like most economists, it has been difficult for me to forecast something we have never seen before,” Walden said when asked why he had upped his estimate. “But as the days have unfolded, things have gotten worse – hence the more dire forecast.” While the 2008-2009 financial crisis sent the US economy into a tailspin over several months, the coronavirus has proved to be a rapidly growing contagion both in terms of health and economic impact. “The economic damage is occurring rapidly – much more so than in the Great Recession,” Walden said, referring to 2008-2009.
This crisis is moving faster than the economists can track it vs the 2008-2009 crisis, so likely continued downward pressure on listings and showings.
Umm, Bill Ackman isn't predicting a huge meltdown. Just the opposite:
"Billionaire investor Bill Ackman, who leads Pershing Square Capital Management, said in a Monday interview with Bloomberg TV that he recently bet $2.5 billion that the US economy will recover quickly from the shock of the coronavirus pandemic.
Ackman said that he's removed all hedges that he had in place to offset the coronavirus pandemic, which were short positions in the credit market. In the last week and a half, he's taken the money from those hedges — roughly $2.5 billion, he said — and increased his position in a number of equities including Starbucks, Agilent, Lowe's, and Warren Buffett's Berkshire Hathaway.
He made the bets because he sees the US making progress in its efforts to combat the coronavirus pandemic. "We are all long, no shorts, betting on the country," he said, adding that the portfolio still has some cash.
Another poster has already pointed out that Ackman's track record for making predictions has been dismal over the past few years. And yes, he originally predicted a huge potential meltdown; apparently he has now changed his mind. See if this change of mind also turns out to be a "turd ball" like most of his other recent bets.
Another poster has already pointed out that Ackman's track record for making predictions has been dismal over the past few years. And yes, he originally predicted a huge potential meltdown; apparently he has now changed his mind. See if this change of mind also turns out to be a "turd ball" like most of his other recent bets.
LOL, so you've gone from touting the veracity of his predictions to calling them "turd balls". Nice.
LOL, so you've gone from touting the veracity of his predictions to calling them "turd balls". Nice.
No - historically Pershing Square has had an outstanding track record; recently a track record of turd balls. Stuff happens. I simply mentioned that he had publicly warned of a meltdown due to an insufficient government response to covid19. He's now had a change of heart apparently. Had you bothered to do a simple google search, you might have seen his "panicked" doomsday predictions.
Next time, please do more research before spouting off.
No - historically Pershing Square has had an outstanding track record; recently a track record of turd balls. Stuff happens. I simply mentioned that he had publicly warned of a meltdown due to an insufficient government response to covid19. He's now had a change of heart apparently. Had you bothered to do a simple google search, you might have seen his "panicked" doomsday predictions.
Next time, please do more research before spouting off.
Whatever. You're about the least reliable source of information on this site. Whatever you read last is what you believe. Maybe one day you'll develop some critical thinking skills and actually learn to comprehend and correctly interpret information. But I doubt it. #lowiq
This pissing contest is getting old. Maybe you two can take a break.
Actually Dr. Mike Walden is probably the best economist to listen to, since he has a pulse on the area.
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