Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,590,742 times
Reputation: 677
Advertisements
Quote:
Originally Posted by cohdane
This thought of the internet contributing to the stalemate makes a lot of sense. Sellers read the good news. Buyers read the bad news. Both are trying to protect their interests....incompatible forecasts lead to incompatible offers and counter offers.
Yes, it does make perfect sense...
Think, hypothetically, for a moment....
If we had no internet today, where would the housing market be? Do you think it would be somewhat different?
If we had no internet today, where would the housing market be? Do you think it would be somewhat different?
Interesting thought....but you'd also have to muzzle the media.
The power of open and available information available to all levels the playing field between the buyer and seller which in an optimal marketplace always results in equilibrium.
The internet makes MORE information available MORE quickly but it does little to make it more "accurate" or "complete" -- thus there is a SEA of imperfect information!
I think it increases volatility tremendously, and I have some friends whose jobs (and incomes...) reflect that.
Now there are "lotto sized" winners AND losers being created in FRACTIONS OF A SECOND!
I believe momentum is a factor no matter which way the ball is rolling. Information is piled on and repeated over and over and over. If the doctor told your wife during a visit that there is a minor issue with her pregnancy, but it wasn't enough to worry about just keep an eye on it -- she would still be a little worried - if the doctor called two more times that day to remind her of the same thing she would be flipping out. If you called the doctor told him to call her and help get her to settle down it could takes days to her mind back straight. So it goes here. Twenty versions of the same thing over and over real estate bubble, stocks overvalued, etc. these things are pounded to the point that even when everyone realizes things could be worse the ball still takes time to stop and turn around.
Not sure about the internets effect on Real Estate but as stocks go there is absolutely no question the interent slows down declines.
In 1987 the stocks market crashed over 6 days. In 2001 and again in 2008 it took over a year. Some of that can be attributed to just the sheer volume of information out there, CNBC, etc., but no doubt the internet, messageboards and what have you allowed people to operate outside of a vacuum even if delaying their sales proved to be a poor choice.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
