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03-12-2008, 09:54 PM
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Location: Wouldn't you like to know?
9,116 posts, read 17,053,965 times
Reputation: 3722
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Anyone catch Lawrence Yun's solution to get home sales rolling?
NAR: Economist's Commentary: March 10, 2008 (http://www.realtor.org/research/commentary_top_down.html - broken link)
"What is critically needed at this important point in the housing cycle is a measure to assuredly and quickly raise home buying activity. This can be accomplished by providing a homebuyer tax-credit. A nationwide $5,000 tax credit (the same amount currently in existence for homebuyers in Washington, D.C.) will cost the federal government $40 billion. "
"What is most needed in the current point in the housing cycle is to get the home sales rolling."
"There is plentiful pent-up demand."
Hmm, interesting Larry. I thought the market "bottomed" according to you, so why would we need this credit?
Larry, we could also ask realtors to donate a portion of their commission instead of asking the US taxpayer to cover the bailout. Do you think that would fly?
Or lastly, while we're at it, why don't we just offer an "appreciation guarantee" to all potential homebuyers? 
The popcorn just keeps on popping w/this guy......   |
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03-12-2008, 09:59 PM
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Location: Vacation central.. :)
882 posts, read 3,420,719 times
Reputation: 458
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Always the cynic .. Always the cynic..
Sorry... it slipped out.   |
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03-12-2008, 10:08 PM
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523 posts, read 1,370,099 times
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This is absolutely hysterical. Lawrence Yun and his predecessor David Learah are two of the most idiotic real estate cheerleaders I have ever seen. Every other week he is foaming at the mouth about all this "pent-up demand".
Yeah there is demand, but not at these bloated prices. As soon as prices drop another 20% there will be plenty of demand for houses.
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03-12-2008, 10:10 PM
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523 posts, read 1,370,099 times
Reputation: 134
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Quote:
Originally Posted by CouponJack
Anyone catch Lawrence Yun's solution to get home sales rolling?
NAR: Economist's Commentary: March 10, 2008 (http://www.realtor.org/research/commentary_top_down.html - broken link)
"What is critically needed at this important point in the housing cycle is a measure to assuredly and quickly raise home buying activity. This can be accomplished by providing a homebuyer tax-credit. A nationwide $5,000 tax credit (the same amount currently in existence for homebuyers in Washington, D.C.) will cost the federal government $40 billion. "
"What is most needed in the current point in the housing cycle is to get the home sales rolling."
"There is plentiful pent-up demand."
Hmm, interesting Larry. I thought the market "bottomed" according to you, so why would we need this credit?
Larry, we could also ask realtors to donate a portion of their commission instead of asking the US taxpayer to cover the bailout. Do you think that would fly?
Or lastly, while we're at it, why don't we just offer an "appreciation guarantee" to all potential homebuyers?
The popcorn just keeps on popping w/this guy...... |
By the way, at current depreciation rates, that $5000 tax credit will be wiped out in your first month of "ownership". Great deal... where do I sign up? |
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03-12-2008, 11:37 PM
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Location: Columbia, SC
10,643 posts, read 20,778,204 times
Reputation: 9932
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Quote:
Originally Posted by mojo_1979
By the way, at current depreciation rates, that $5000 tax credit will be wiped out in your first month of "ownership". Great deal... where do I sign up? |
Depends on market. We're appreciating (SC) in prices below median and steady in areas near median. Some of the high end homes are piling up because there are too many on the market though. |
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03-12-2008, 11:37 PM
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18 posts, read 18,871 times
Reputation: 13
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Quote:
Originally Posted by rrufast
Always the cynic .. Always the cynic..
Sorry... it slipped out. |
You gotta admit... the guy is completely out of touch with the market, realtors and consumers.  |
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03-12-2008, 11:38 PM
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Location: Columbia, SC
10,643 posts, read 20,778,204 times
Reputation: 9932
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Quote:
Originally Posted by CouponJack
Anyone catch Lawrence Yun's solution to get home sales rolling?
NAR: Economist's Commentary: March 10, 2008 (http://www.realtor.org/research/commentary_top_down.html - broken link)
"What is critically needed at this important point in the housing cycle is a measure to assuredly and quickly raise home buying activity. This can be accomplished by providing a homebuyer tax-credit. A nationwide $5,000 tax credit (the same amount currently in existence for homebuyers in Washington, D.C.) will cost the federal government $40 billion. "
"What is most needed in the current point in the housing cycle is to get the home sales rolling."
"There is plentiful pent-up demand."
Hmm, interesting Larry. I thought the market "bottomed" according to you, so why would we need this credit?
Larry, we could also ask realtors to donate a portion of their commission instead of asking the US taxpayer to cover the bailout. Do you think that would fly?
Or lastly, while we're at it, why don't we just offer an "appreciation guarantee" to all potential homebuyers?
The popcorn just keeps on popping w/this guy...... |
Don't you ever get bored with this stuff? Serious question because I'm honestly curious. |
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03-13-2008, 07:09 AM
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Location: Wouldn't you like to know?
9,116 posts, read 17,053,965 times
Reputation: 3722
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Quote:
Originally Posted by Brandon Hoffman
Don't you ever get bored with this stuff? Serious question because I'm honestly curious.
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No, not really. Do you ever get bored from answering questions on why you should be compensated the way you are? What's your point?
I'm very much into resi RE and find it laughable that your "chief economist" can be such an out of touch idiot. He brings this onto himself.
This is the real estate section, right? We'll never get this point of view from realtors so every once in a while a little tweaking won't hurt anyone.
Why not try to defend him, instead of knocking me because you don't like what I have to say? |
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03-13-2008, 08:39 AM
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Location: Kansas
3,855 posts, read 12,826,100 times
Reputation: 1733
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As a buyer having an additional $5000 (CASH) in your pocket would be nice to have when going to buy a house. But a tax credit may not be as effective. It means that buyers today would have to wait a year before they see that benifit. And for some folks who live from paycheck to paycheck they can't see that far in the future. By the time that money comes through on their tax return in 2009 they'll be ready to run out and buy a new car....instead of putting that $5000 toward their equity. They already forgot about buying a house 10 months before.
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03-13-2008, 09:09 AM
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523 posts, read 1,370,099 times
Reputation: 134
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Quote:
Originally Posted by Brandon Hoffman
Depends on market. We're appreciating (SC) in prices below median and steady in areas near median. Some of the high end homes are piling up because there are too many on the market though.
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Care to provide a link showing the hard data on the year-over-year price statistics? |
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