4th Quarter---Real Estate Price Change

[irrational exuberance]

Oh mthomson, back to the reasons of why instead of the financial implications. Lets use logic for a moment. Borrowing 300k for 30 years at 5.8% you would pay 4100 of principle off in the first year, in the second it will be 4500 so in 24 months you have only paid off 9600 off of the loan which means you would owe around 290,400k. If you were to sell a house that is the amount you owe the bank before you realize your capital gain or more recently loss. So I will say it for you, being a real estate agent is about building relationships etc,etc..... So how can you honestly/objectively tell a client now is a good time to buy when you witness prices going down by 10k+ and that is more than 2 years of principle gone immediately or equity? See that is the point of view I look at it like, many people are comfortable in their reason but money is a constant regardless so naturally that should be the first consideration. There isnt going to be a shortage of houses so buy now or buy later houses will still available but the price is what is going to change. But sales is cut throat so people only worry about themselves and making that next sell......I dont need the media to tell me when is the best time to buy that is between my wife and I. She sees the implications just as well as I do and hear on a daily basis from people that they wished they waited 6 months to a year to buy, stuck paying for houses that are priced 30k plus than the remainder of the unsold ones in the neighborhood. And I dont insult your profession I insult the myriads of unprofessional ones in the business. I am about to take the real estate course, Like I should have back in 2005. There is a reason on job announcements it says no prior experience required, quite naturally when you have a job paying as much as an agent for no prior education or qualifications besides the online course you would attract myriads of unprofessional, uneducated people.And I dont mean education in a sense of degrees I mean in a sense of understanding the local economy,demographics, and professionalism. Also how could someone need a house right now and not afford or be able to rent? That sounds like a justification and not a reason that doesnt make sense to me

[irrational exuberance]

mthomson,

I say more people value my opinion because if you reference your prior post from weeks ago you were complaining how you presented facts and I use opinions. Its not a popularity competition, I could post 40 more post and say what people want to hear and get a higher reputation but instead I choose to say what I believe and back it up with facts

[Iceberg]

This has nothing to do with the media. It has everything to do with speculation and a herd mentality. If people would look at a house as a home and not some get rich quick scheme we would not be in this mess. To many suckers bought into the "Buy now or be priced out forever" BS. Did people really think that real estate would keep appreciating the way it had with incomes not even keeping pace? How stupid are most people anyways?