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Guess I'm being specifically honest after all. You really do not seem to understand, along with your counterparts (stosh and SurfGod), so stop trying or if you are truely [truly] interested, get the info before you blow hot air. Most ALL suburbs went against the "trend" you report, as the info you gave is for the city of Chicago and then the entire state of Illinois. Try looking at specifics and what the dirvers [drivers] are, then come back and tell me otherwise. And no one is argueing [arguing]that SALES are down. Doesn't mean prices are and will continue to be down.
I don't speak for Stosh or Surfgod, and YOU definitely do not speak for me. Read my post, I wasn't talking just about sales. My link also mentioned median price, which has declined in Chicago. I could care less about the random suburb you live in and the trends going on there. That had nothing to do with my post. I was providing clarification for people who thought you were referring to Chicago. Of course pure lack of sales does not necessarily mean prices will go down, where did I say to the contrary??
However, the "drivers" for diminished sales will also contribute to lower median prices in the city of Chicago. This wouldn’t necessarily happen in every single neighborhood in Chicago, but many of them.
Any developer that can drop their price from 4.1M to 1.5M must have a really well thought out plan...
LOL exactly, and that's my point. Developers all around the country have been doing this. The same people I would low-ball. Do I expect to get the same kind of deal in other parts of the country? No, but I fully expect to take advantage of people who did not think things through.
So do it. Any developer that does that is not long for the market anyway.In fact any development that has those type reductions is going downward anyway.
Interesting how she ignores that the price drops are much less than all have claimed them to be. I have always conceeded that we did see drops since peak, more like 10-12% in most counties, but that they will likely not go down anymore and if so, VERY LITTLE.
In the month of November, the median home sale price for the Chicagoland PMSA was $207,745, down 15.9 percent from $247,000 in November 2007.
Prices overall went down more than the 10-12% you thought they did - so your idea that prices dropped less than "all have claimed" is another bit of embellishment on your part.
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This unrealistic "forcast" for real estate is nothing but foreclosure bargain hunters thinking that our entire nation's real estate will turn that direction.
It's also based on the analysis of various measures of house values showing that they are way more expensive than they have been in the past during non-bubble times. But for some reason you keep ignoring that data. I wonder why.
I don't speak for Stosh or Surfgod, and YOU definitely do not speak for me. Read my post, I wasn't talking just about sales. My link also mentioned median price, which has declined in Chicago. I could care less about the random suburb you live in and the trends going on there. That had nothing to do with my post. I was providing clarification for people who thought you were referring to Chicago. Of course pure lack of sales does not necessarily mean prices will go down, where did I say to the contrary??
However, the "drivers" for diminished sales will also contribute to lower median prices in the city of Chicago. This wouldn’t necessarily happen in every single neighborhood in Chicago, but many of them.
Wrong again, I have NEVER indicated I was speaking of the city of Chicago, therefore, no explanation was need for anyone who "might of thought I was refering to Chicago". And my "trends" in not just our suburb but most all Chicago SUBURBS DO matter in your post and how it relates to your blanket statements about the market as a whole. And I didn't just mention sales, I DID point out the percentage amount of drops and how they were actually LOWER than I had conceeded to, long ago!
Edit- and you can stop bothering to "correct" my typos or spelling errors. A little mixture of both and reasons for it explained on another thread you partake in. When your's and everyones grammar and spelling and no typos become the norm on here, then you knock yourself out and correct all you want! I've been in the office since 6 this morning and when I get on this forum, am taking a little break away from numbers. I don't have the time to make sure all of my posts are "perfect" for your reading. I think they are more than understandable!
Last edited by fairmarketvalue; 01-06-2009 at 06:39 AM..
And Humanoid, I know my accounting, economics, tax laws, portofolio structures, stock market and banking knowlege, investment banking, personal finance advise for several, accounting services for small and a few very large businesses
You may know about all sorts of things, but the things you say about economics are so awkward its hard to conclude you've studied the subject.
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Originally Posted by fairmarketvalue
views about the real estate market and what happened to it, where I think it's going, has NOTHING to do with my firm and my business.
I know it doesn't, which was my point.
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Originally Posted by fairmarketvalue
it's simply that I would rather spend what time I do spend on here, focusing on "spreading the good" and sharing the fact that NOT ALL real estate is in as bad of a situation as one would think, based on all the "negetive" we've had drilled into us for quite a long time now.
You can say whatever you want, but you go around insulting and telling people they are "completely wrong". If you are doing to do that you should be able to actually justify your positions.
But also, the point you want to drive is completely banal. Nobody and I mean NOBODY here is suggesting all real estate markets are equivalent. When people argue with you about the Chicago area, they use data from the Chicago area. You have created a straw man that you pretend corresponds to people positions here, but its not even close.
Every time you post you show a basic unwillingness to actually understand what other posters are claiming and you are completely unwilling to support your claims despite telling everyone else how "completely wrong" they are.
Yep - sold my house in London at the peak - took a 250% profit
Bought a house in the States for peanuts.
Still own rental property in the UK which has been generating income pretty much since the day I bought it.
I was talking about property in general dropping further - not your house in particular or whichever flipping house it was that you're getting so aerated about
At no point have I said prices will keep going down and never recover - I simply feel that prices will still keep dropping at least for another year and very possibly longer than that.
And by the way, GUARANTEED is the correct spelling.
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