Housing Market

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Jul 18, 2008 7:07 pm

Just out of curiosity, what are some of your guys' personal feelings about the housing market?  Do you see any end in sight to the decline?  How long after a bottom do you think it will take until it turns around again?

 
Any opinions?
Jul 18, 2008 7:12 pm

Wait for housing starts to drop below 1mm ann basis and then start to increase.  That will be a great sign it is over.

Jul 18, 2008 10:17 pm
snaggletooth:

Just out of curiosity, what are some of your guys' personal feelings about the housing market?  Do you see any end in sight to the decline?  How long after a bottom do you think it will take until it turns around again?

 
Any opinions?



I sell annuities. I'm in favor of anything that makes the unwashed masses think that the world is ending.

Jul 19, 2008 12:40 am
Hobby Bull:
snaggletooth:

Just out of curiosity, what are some of your guys' personal feelings about the housing market?  Do you see any end in sight to the decline?  How long after a bottom do you think it will take until it turns around again?

 
Any opinions?



I sell annuities. I'm in favor of anything that makes the unwashed masses think that the world is ending.

 
I know, but I've got a rental house that I would rather not be in, so it does concern me a little bit.
Jul 19, 2008 10:22 am

I was talking to a mortgage loan officer a couple of weeks ago and she mentioned that prices in my area capped a few months ago and are just starting to decline. My thoughts are home prices will be tied to bank failures. Simple supply and demand. I think they will probably drop for another year or so, and rates will continue to rise with loans becoming harder and harder to come by.

Jul 19, 2008 2:53 pm

NY Times article today - pretty grim - a bout the economy in general, consumer, banks, housing. 2 1/2 YEAR supply of homes currently exists, if we dont build one more home in this country during that time.

Jul 19, 2008 10:21 pm
pratoman:

NY Times article today - pretty grim - a bout the economy in general, consumer, banks, housing. 2 1/2 YEAR supply of homes currently exists, if we dont build one more home in this country during that time.



Do you really read that piece of crap?

Jul 20, 2008 1:25 pm
iceco1d:

River, you are in a..."smaller" area, like me, correct? 

Yeah a town of about 55,000 or so. 

Jul 20, 2008 5:48 pm

The housing market is much more of a mess than people are thinking.  I think it's going to be at least 5 years before housing starts and sales of new homes start increasing consistantly.  But the good news for you snag is that rentals are a completely seperate market.  The only problem you'll have selling your rental is getting a qualified buyer.  The demand is still there, but the lenders are making it much more difficult for potential buyers to get qualified (which isn't a bad thing, now you actually have to be able to afford the property to get a mortgage on it).  The other market that isn't as affected as the others is the luxury home market.