A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
As recently as last year it was a "seller's market". Now the NAR is calling it a "buyer's market".What should we really be calling this market?
You don't just jump from one to another by saying it is so! You'll know when it's time to buy. When sellers are begging for offers! Any Reasonable Offer! Any Offer!
nasty and deep
Here in San Diego, there has been a radio ad talking about How strong the housing market is, "and it's gonna remain that way for a while!" This currently running comercial has been on since Jan or Feb. 06, with no update. It's funny to be driving along and listening to this old, outdated drivle touting a mortgage lender!
Voyage of the Damned!
For realtors: "How to suceed without really trying!"
"You ain't seen nothin yet!"
for recent buyers..."Ship o Fools!"
suckers marketit's too late to sell and too early to buy
Like daddy said about sex, Get in, Get out before the tears!
Just sayin so don't make it so! Remember, buyers or sellers market, realtors still get paid.... too much I might add! The house sells itself, and they get 6%! Then tell you how hard they worked!
A Suckers born every minute!
Realtors are now trying to lure in the last of the suckers who were priced out of the bubble market. They say this unfortunate group of spring-loaded buyers has pent-up demand. As home prices start to drop, these wannabe home owners will pounce on the first debt-box the Realtor can shove them into.The idea of buying a house that will only decrease in value does not appeal to me. These will be the last of the greater fools. In fact, they will be the greatest fools of all, because they will achieve instant negative equity.
"buyers or sellers market, realtors still get paid...."Not if no one is buying. Like the current situation. Very few are and those are the idiots that are uninformed. But now the general public is aware as long ast 20/20 keeps doing segments and the market crash! HAHAHAHAH.
"buyers or sellers market, realtors still get paid...."Not if no one is buying. Like the current situation. Very few are and those are the idiots that are uninformed. But now the general public is aware as long ast 20/20 keeps doing segments on the market crash! Suck it and suck it good Realt-whores, loon-officers and broke-ass-ers HAHAHAHAH.
"The downturn is here. I don't know what kind of landing it is. But it is a downturn for sure," said Gary Teeters, owner of Coldwell Banker Kivett-Teeters, who has seen sales drop by 38 percent in the past year at his real-estate officeshttp://www.pe.com/localnews/inland/stories/PE_News_Local_B_homebuilders26.6c4b4b.html
It is the come one, come all, amazing buyers market. No money? No problem. No job? No problem. Good credit, bad credit, no credit. We'll loan money to anyone. Crazy Eddie is giving it away. Want to pull a scam? Good! Come on over. Want us to pay you, just for signing some papers? No problemo, bring your fake IDs and we can sell you twenty! You can save ten percent off, so you are much smarter than those losers who stupidly bought last year. Hurry, hurry! Step right up and let our bilingual mortgage broker guess your income...
It is a buyer market as long as people believes in the myths.Myth #1: As long as job growth is strong, prices can't go downMyth #2: The builders learned their lesson in the last downturn. They won't swamp the market with new houses when the market turnsMyth #3: Low interest rates will keep values rising, or at the very least, put a floor under pricesMyth #4: restriction on development in the suburbs ensure low supply, and guarantee rising priceshttp://money.cnn.com/2006/08/24/real_estate/pluggedin_tully.fortune/index.htm
If you take a look at the 116 year trends of housing price adjusted for inflation.http://graphics8.nytimes.com/images/2006/08/26/weekinreview/27leon_graph2.large.gifyou can see why even the Canadian bank thinks the US is heading to another recession.http://www.canada.com/windsorstar/news/story.html?id=3ef4cdcf-e33b-4870-bf6e-f946e9c72ff7&k=48847
It is a buyers market when realtors can no longer pay off the news media to trick the masses.When the Bubble BurstsWho will get it worse if the housing market slumps?Recent home buyers who have counted on big short-term gains have more to worry about. Speculators already have recognized the risk and retreated from the market. But numerous other buyers had been hoping to work their way up to bigger homes and better neighborhoods. A burst bubble could force these people to stay put for several years.A separate point of anxiety is the prospect of higher interest rates for buyers with adjustable-rate mortgages. The Federal Reserve recently took a break from its prolonged increasing of short-term rates, but lingering risks of inflation could push borrowing costs, and therefore adjustable mortgages, back up. Owners who can't afford the higher payments might be forced to sell their homes at a losshttp://www.latimes.com/news/opinion/editorials/la-ed-prices26aug26,0,1345576.story?coll=la-news-comment-editorials
When it is a true buyers market, you'll know it! How much of a halfwit do you have to be, to be so unaware of whats going on? What rock have you been living under for the last 8 to 12 mos.?
"buyers or sellers market, realtors still get paid.." Some people still are so stupid that the in the current market a price reduction (of any small %) means savings, so buy! A $500k home reduced to $450k, good right? Not when you buy at 450 only to have values decline even further!
What should we really be calling this market?"It's dead, Jim."
The Hindenberg Housing Bubble.Not a Titanic. Like today's housing market, any idiot knew that eventually a huge bag of explosive hydrogen was going to crash hard.Ergo, our current housing bubble.
Ok, ok.I think the Titanic is better.Why? Because you can shine all the marble counter tops you want. You can polish all the brass but in the end, it's ALL going down.
Captain Lereah on the bridge of the S.S. Bubble, "Full steam ahead"! What Ice?
Soon it'll be:"Banker's Market."Then sometime later,"Cash market."
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