Graphs of inventory exploding and prices falling from around the country. A picture is worth a thousand David Lereah's they say... (don't they?)...
August 11, 2006
I love a good graph. But the NAR and REIC won't like these...
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Anyone want to speculate that the inventory explosion correlates with ARM resets.
OT: This just might be that August 22 surprise everyone is talking about.
http://tinyurl.com/s3rer
Email your congress person, and tell Him/Her to request removal of the Nut case in the Oval Office.
I PITY YOU AMERICANS
YOU HAD GREATNESS,STRENGTH,HONOR,INTEGRITY,KNOWLEDGE,AND WEALTH IN YOUR HANDS..
AND YOU THREW IT ALL AWAY...
REPLACE YOUR NOBLE EAGLE WITH A BIG FAT STUPID PIG !!!
HAILING FROM THE ISLE OF MAN.
This inventory will all be absorbed by Chinese, Hispanic, and Middle Eastern immigration. Buy now before its too late. It's coming back in the fall with the return of cheap money after the next terror attack. Republicans will stay in power for another 8 years to fight the war on terror.
Get used to it losers.
This inventory will all be absorbed by Chinese, Hispanic, and Middle Eastern immigration. Buy now before its too late. It's coming back in the fall with the return of cheap money after the next terror attack. Republicans will stay in power for another 8 years to fight the war on terror.
Get used to it losers.
They say Heroin is a great drug that puts it's user in a delusional state ....Obviously
Can someone explain the difference between the red, green, and blue lines?
Blue line = current overall inventory
Red line = homes added to inventory last 30 days
Blue line = homes sold last 30 days
My mistake, last blue line should have been red.
or green? When in hole,stop diggin
click the link header for the full write-up
Inventory graphs are interpreted as follows: The blue line represents total housing inventory as listed in ziprealty.com. The green line depicts the total number of homes sold in the previous month. The red line depicts the total number of homes added to the market in the previous thirty days.
Good article. The runup in inventory is amazing in the bubble markets.
I wrote a comparison piece for Boulder (my market), including why I think now is a good opportunity to buy at certain price segments.
Here's a link.
Two words - PROPERTY TAXES ! !
Here in Calif, property taxes are about 1.25 on sales value, and due twice a year - April and December 10. . .that means someone who bought a 600K condo in SD for flipping, owes $8000 ($4000 twice a year). . .they probably paid in April, because they thought the summer "selling season" didn't happen. . .it hasn't, so they need to sell before Dec. 10 or pay another $4000!!!. . .if they don't pay - tax liens and foreclosure are likely. . .I say PANIC will start setting in. . .I was told by my realtor (yes, I do look around now and then) that co-workers own three or four condos each in downtown condos. . .can you imagine coming up with $12,000 for three condos????? on top of mortgage, HOA, and other expenses? Comments from AZ,NV? When are taxes due?
What happens when the blue line goes off the chart?
I mean the green line.
Uh, sorry, that was the red line.
HeHe
If a house crashes in value and Suzanne isn't around to hear it, does it make a sound?
Excellent graphs & studies. I'm certain that bubble has bursted. About one year ago, UCLA professor Didier Sornette predicted that Housing bubble will crash in 2006 summer. Very good call.
Republicans will stay in power as long as the majority of the voting public in the U.S. is white Christians.
That is for sure.
Prices are barely down.
SLOOOOOOOOWWWWWWWWWWWWWWWW
MOOOOOOOTIOOOOOOOOOOOOOONNNNNNNNNNNNNN.
mark in san diego -
property taxes for maricopa county (phoenix & most of metro area) are due twice a year, april & november. rates here are obviously much much lower than california. my tax bill for my 340K house is $1550 per year. i talked with my realtor yesterday (yes, always looking for new investment deals) and she said that she is telling folks that they will see resets in their taxes from 40-50%. also, tax assessments are done every 2 years, so the run-up in 2004 and 2005 will be hitting soon. even though the tax rates are lower, i think lots of people will be screwed, since so many live paycheck-to-paycheck, and taxes are collected by the mortgage holder, so mortage payments will increase. there is no good news here in phoenix.
On August 22, Iran opens the Oil Bourse. That will be the shot heard round the world.
Please do you have data tracking/graphs for Utah? We are getting deluged with hype from the local media. Of course they only interview "economists" that work for banks and realtwhores.
My own rough tracking shows an increase in MLS volume of 13.4% in the last two months (2 months back from 8-11-06) with 9% of that increase in the LAST month (i.e. ACCELERATING).
I haven't been able to source a graph showing this increase over time. When I first started mentally noting the volume it was about 8900 and is now nearing 10,300. THANX!!
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