"It is still a buyer's market - we just need more buyers"
- Tom Campensa, president of the Akron Area Board of Realtors
July 29, 2007
HousingPANIC presents "Realtor Quotes of Brilliance"
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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.
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37 comments:
huh?
Yeah, that makes sense. Why can't some real estate agents in my biz call it like it is? I'm all for stronger education and qualifications to get in our business. We have too many dolts acting like they know what they are doing.
*Still* a buyers market? ... pure bullox.
Mr. Campensa better realize what *really* needs to be done to get more buyers ...
Lower prices, or be witness to a grand fire-sale.
"It is still a buyer's market - we just need more buyers"
- Tom Campensa, president of the Akron Area Board of Realtors
The odd thing is, Hank Paulson is saying the same thing in China right now!!!
Democrats want to raise min. wage to $9.50 HP complains about inflation then votes for democunts who will have almost doubled the minimum wage in 2 years. Hey maybe by 2011 the min. wage will be $1M a year and everyone will be rich.
Only 1 word comes to mind....
DOPES
Tell you what you give me an option mortgage to the tune of
"Tenant at will"
and I just might consider it.
This is a quote from a Realtor, in 2005.
"Population is increasing so - Housing price only goes up and will never drop"
This is a quote from a Realtor, yesterday.
"We can only hope the housing market will get better"?
What will the quote be in 2008?
Sounds like something a Simpsons character would say.
American Home Mortgage says faces margin calls
http://tinyurl.com/34hvh
http://www.whatreallyhappened.com/index.html
Keith, I fail to understand why you have ads for Eloan and other mortgage, realtor and refinancing ads on this site. Why are you helping the very people you detest? Who's selling out?
buyers=suckers
Do we have a name for a buyer market without buyers?
"Got Liquid"
http://www.kitco.com/ind/Laird/jul272007.html
Eloan still advertsing interest only loans on this site..destroys credibility, but congrats on cleaning up the rest so fast.
Keith, I would love to get an indenity and post my comments, but it requires filling out too much information.
It's true that everything you say in the web can be traced, and could be traced by the government for any reason they deemed necessary. This is probably not as far off as some would think, in fact is probably already happening.
Just don't want to make it that easy for them.
There are very few buyers - people who formed a household in 2003-2006 (say a young married couple) would normally save up 5 years to buy a house. . .say 2010. . .BUT, with zero down and 100% teaser loan, they bought in 2005. . .this multiplied by millions - essentially everyone who wanted a house bought one, and RE agents canibalized their future for sales today. . .there are not that many renters who want to buy - the few of us on this board who sold in 2005/6 and are waiting for prices to drop, likely are about 1% or less of the population. Then there are life-renters - we all have friends who never really want to buy. . .SO. . .who is really out there who wants to buy???
Keith, I fail to understand why you have ads for Eloan and other mortgage, realtor and refinancing ads on this site. Why are you helping the very people you detest? Who's selling out?
Who on HP is gonna use one of those loans? Just as Keith has said before when asked this same question...(or should I say accused and found guilty without trial)...I think that it is pretty funny and these companies are actually paying (indirectly) to have us laugh at their ads.
10:32,
Look out there is a black helicopter in your closet.
Google sets the ads, not me. If you see a mortgage ad, make them pay! Just got back from the pub, three drinks, total tab $40, HP ad revenue is not keeping up with my pub bill
That said, I have some of my savings at e-loan, I think with a 5.75% rate. So cheers to e-loan
And no need to use a mortgage broker when e-loan is out there - they won't screw you like a broker will
I also have savings at FNBO Direct - 6% there, and HSBC, 5.5%
re: eloan ads
I think the way google ads works is based on key words. this blog has the words housing, mortgage, real estate, etc and so google ads has real estate related ads. Keith has no say in what ads google places.
Meanwhile, no more threadjack on eloan. Get back to the stupid realtor quote!
Man, sometimes I feel sorry for the little guys. A mind is a terrible thing to waste. Anyone else get the impression the dumbest guys (and girls) from high school all became realtors after failing in life?
Suggest anyone who wants to get an idenity and post on this blog or any other familiarize themselves with http://www.chillingeffects.org/
It would be a sellers market if there were less sellers
It's still a sucker's market. We just need more suckers.
Its a buyers market .. it sure is. The more buyers there are, the more of a buyers market it will be. Isn't that right - genius ... moron ...
One more of those, "we have plenty of land to build and so we wont be having much of a crash" geniuses ...
Yea, its the opposite ... too many buyer = sellers market. Too many sellers = buyers market. A too many sellers with prices crashing = waiters market - like now.
Cool.
Cow_tipping.
I live nearby... work as an engineer for a manufacturing company/ Auto supplier. And some of the realtors are indeed getting desperate as inventory sits. This area isn't a bubble area though (IMO). Housing prices aren't really very high at all and haven't appreciated much in the last 5 years.
If you want to buy and have the income you can. There aren't as many buyers though because of nervousness I've seen and discussed with my colleagues and neighbors. They aren't so worried about losing money from a housing bubble collapsing as being stuck with an illiquid asset and mortgage when the next economic setback hits the region- and they may need to move for employment or professional reasons.
Thank GW Bush's trade and monetary policies. They allowed financial speculators to get rich. They have been a disaster for many manufacturing companies and are drying up jobs in many industries in both blue and white-collar fields. IT's a jobs or regional economy issue arising from the policies that strongly encourage offshoring / outsourcing and put American firms at various disadvantage in the marketplace.
So we have fewer buyers as a result
Anonymous said...
It would be a sellers market if there were less sellers
July 29, 2007 11:49 PM
-----------
Yes, the Realtor quote is focused on NAR propaganda and ignores econ 101, the above anon quote is dead on in regards to market fundamentals.
While current seller solicitations for offers are more reasonable relative to the recent past due to significant seller competition for the relatively few buyers, its still not a buyer's market because sellers are still not negotiating in a range that reflects the fundamentals of the asset they are selling. Any other product a seller would drop price point to what market dictates and insure production costs would match prevailing market forces to generate positive cash flow.
RE is different, personal emotion, financing that backs the asset for sale and price is pegged relative to other sales regardless of market fundamentals, hence pricing is distorted relative to how pricing of more uniform, fungible elastic goods occurs. This is what the FED was counting on to stretch out the pain from the more fluid dot com/bomb bubble burst which would have pushed the economy to the economic brink rivaled only by the 1929 crash. Thus they accepted a short term honeymoon post dot.com-bomb coupled to a long term stagnation for a very long time.
Good luck.
If you see a mortgage ad, make them pay! Just got back from the pub, three drinks, total tab $40, HP ad revenue is not keeping up with my pub bill
No threadjacking intended. I just did a lot of clicking so go out and hoist one on me.
Cheers!
keith said...
"Google sets the ads, not me. If you see a mortgage ad, make them pay! Just got back from the pub, three drinks, total tab $40, HP ad revenue is not keeping up with my pub bill"
==================================
Six pack of imported beer at Aldi's in Green Bay, just $4.49.
Well, I know how it is running
a server - nothing runs for free.
So, if Keith has to make some money off of ad space to keep the server up and running, so be it.
Donations (or good will) just doesn't work when you have to pay ongoing monthly bills.
Anonymous said...
Keith, I fail to understand why you have ads for Eloan and other mortgage, realtor and refinancing ads on this site. Why are you helping the very people you detest? Who's selling out?
Just got back from the pub, three drinks, total tab $40
that can't be a pub. it has to be at least be up itself enough to call itself a bar if it is charging you more than three quid a pint!
Your link isn't working... did the REIC get the story pulled?
That $40 would get me 5 beers (with the tip) and 3 realtor™ lap dances at the right spot here in Vegas.
Location! Location! Location!
"Keith, I would love to get an indenity and post my comments, but it requires filling out too much information."
----------------------------
A lot of people have good resons for not getting an identity. They can pretty much all be solved by posting anon and signing a name at the bottom.
-Publius-
Genius I tells ya, Genius!
errr, or fewer sellers.
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