[UPDATE] - The monkey-led NAR's #1 "Housing is Doing Fine" market is Beaufort, Texas. One problem - it doesn't appear that Beaufort Texas actually exists...
Monkeys I tell ya. The NAR is run by monkeys...
Here's the evil-doers talking points:
September 28, 2007
NAR First Vice President Charles McMillan faced off with Jim Cramer on NBC’s Today Show, countering Cramer’s earlier irresponsible statement on the show telling consumers NOT to buy a house right now. Cramer would treat homes like stock purchases, and McMillan was there to tell him and consumers across the country that housing is not a day-trading activity – it’s a good, solid long-term investment that has proven its value over time. McMillan spoke for Realtors® everywhere as he countered misconceptions about the real estate market and drove home positive messages about the value of homeownership.
What’s Happening Now
Local media may be contacting you to develop related stories about the housing market and whether it’s a good time to buy a home.
Gather your local facts.
Use the talking points below to help prepare your local spokesperson.
You can view the Today Show interview with Charles McMillan at:
http://video.msn.com/video.aspx?mkt=en-US&brand=msnbc&vid=8f128f4c-3428-4f0e-9908-a803893ec6ce
Talking Points
Housing is a good long-term investment – it’s not a day-trading activity.
Owning a home isn’t just about investment, although that’s certainly important. It’s also about building community, a place of your own, and having a part of the American Dream.
Homes are not stocks. Most people stay in their home for about 6 years – they buy for the long haul to create a home for their family, not to buy then turn around and sell six months later.
It’s impossible to time any market. Right now, interest rates are favorable and buyers have lots of options.
For buyers able to qualify for conventional financing, there are ample opportunities in the current market. Conventional loans are available and rates are reasonable, and FHA-insured mortgage applications have been rising as low- and moderate-income buyers seek alternatives to subprime loans.
Two-thirds of metropolitan areas across the country are showing modest price gains, and the national median home price in August showed a slight increase.
Some examples of markets that have shown both increased sales volume and price (you should collect information from your own market and be prepared to talk about specifics in your own area):
Beaufort, TX
El Paso, TX
Farmington, NM
Salem, OR
Salt Lake City, UT
Spokane, WA
The average homeowner has seen an increase of 50 percent in value over the past five years. We project prices to rise about 2 percent next year, and in coming years, average home price appreciation should return to historical averages, around 6 percent.
Realtors® are passionate about helping people into homes and expanding homeownership opportunities. Realtors® live where they work and can see the benefits of homeownership firsthand.
October 01, 2007
Here's the NAR's secret talking points countering Jim Cramer's pummeling of the NAR doofus on the Today Show. Have a good laugh!
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46 comments:
They really are delusional or even retarded!
OMG - this is the best buying places the NAR could come up with...?
Beaufort, TX
El Paso, TX
Farmington, NM
Salem, OR
Salt Lake City, UT
Spokane, WA
My guess is that represents about .01% of the housing stock in this country. What a frickin' joke. Cramer has turned the floodlights onto these fools practically overnight.
NAR is full of s it
I'm convinced. I'm going to go out and buy a house right now!!!!!!!
Ummm. I'm back. Checked around. Total carrying costs for SHELTER (what a house actually is, despite what the NAR and HGTV shovel) still exceed 25% of my net monthly income (historically, the upper limit sane households use to cap their housing costs to). Also, home prices are not going up double digits like PM and foreign equities. Guess I'll have to keep renting, buying gold bars, and making 40%+ in Latin America and 50%+ in China till home prices regress to their historic mean.
Realtors® are passionate about earning a commission.
What about:
"Realtors are nice people and they need money, so money lost that you could otherwise save renting can be seen as welfare payment to keep your parasitic salesperson from living in a dumpster downtown."
Beaufort, TX
El Paso, TX
Farmington, NM
Salem, OR
Salt Lake City, UT
Spokane, WA
Well shit Farmington, NM is booming. Good enough for me. Where do I sign?
Doesn't this just make you want to puke or grab a random real estate agent and ram their head into a wall??!!
The people of the US need to form a private, unaffiliated "Fiscal Responsibility" and "Consumer Watchdog" organisation to expose the lies of the NAR, the Fed and take on the issues that are really facing the US. The government will never do it as long their palms are greased with corporate bucks. The media is too lazy and corrupt to look out for the people (with a few minor exceptions).
With the coming economic collapse I'm sure there will be a lot of support for such an organisation. Such an organisation would need to enlist as many people in the population as possible and base principles on the US Constitution to wield some real political power. I don't see any other way that the US could be saved from corporate corruption.
"You need to talk to economists," he replied. "I think I got a B in Econ 101. I got an A, however, in keeping taxes low, and being fiscally responsible with the people's money."
BTW - You've got to love President Dumbshit's comments on the chances of a recession:
At a news conference last week, Bush was asked about the state of the economy and whether there was a risk of recession.
"You need to talk to economists," he replied. "I think I got a B in Econ 101. I got an A, however, in keeping taxes low, and being fiscally responsible with the people's money."
A transcript shows Bush got grades of 71 and 72 in economics as a college student. That corresponds with a C-minus.
Source: "Lack of urgency on national debt is a scary stance"
http://tinyurl.com/2f7sgt
But the NAR doof on the Today Show pointed to Michigan and Indiana as good place to buy I guess he didn't have the talking points that it's Beaufort, Texas baby!
The NAR predicts a 2% rise in prices in 2008?
Anyone want to take bets on that one?
Ha!!!!!!!
SLC is hanging by a thread and will collapse very soon. Overpriced low quality crap on a 1/8 acre lot.
Party is over SLC and I think most here know it.
My friend has now dropped his house that was originally listed at $530K down to $475K and still no bits. When he gets around $350, that is reality.
I have a map of the U.S. hanging on my wall which shows state by state the percentage of subprime mortgages issued in the last two years. In Utah it is 25%, this is the same percentage as California. This means that 1 in 4 mortgages (if this map is correct) issued in Utah in the last 2 years is a subprime. Isn't this a problem for the Salt Lake City market? Salt Lake Tribune had the wonders of the housing market on the front page couple of months ago. The gist of the front page article was that Utah has historically been immune to the boom and busts of other areas and that new construction here is roaring full speed ahead. 1 in 4 subprimes??? Things that make me go hmmmm.
Beaufort, TX doesn't exist. Either they are talking about Beaufort, SC or Beaumont, TX.
Dow Jones Surges Past 14,000 As Credit Worries Subside, happy days are here!
El Paso TX?
Cheap hookers, viagra and coke right across the border......
Where do I sign?
http://tinyurl.com/yruccf
If NAR's talking points are the truth then why did they lobby to DESTROY communities across America during the housing bubble to promote Day trading/flipping behavior of properties and loan refis?
Very Good article by Cuyahoga County Treasurer.
Slavic Village: The future by predatory, subprime lending coming to an RE speculator overrun community near you.
I especially like how the REIC lobbied the state to prevent the cities from stopping them from destroying communities an people’s lives and then the corrupt state politicians realize they screwed the people that vote for them, but by then its too little too late. This is now playing out at the federal level.
Anonymous said...
The NAR predicts a 2% rise in prices in 2008?
Anyone want to take bets on that one?
Ha!!!!!!!
October 01, 2007 10:31 PM
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Agreed, maybe in BF nowhere, but in all the places people want to live everyone is agreeing prices are going to come down harder next year!!
http://tinyurl.com/23b665
2008 Housing forecast for Metro DC, we have nowhere to go but down!!
You know its bad when you put 5 economists in the same room and they all agree!!
El Paso is up for one reason and only one reason. DOD/Gubermint Dollars. The Base Realignment and closure act has plussed up Ft. Bliss big time. It is going to become a new US Army super sized base instead of its current modest back water sized base. I loved going there on TDY years ago and thought about just selling my place in the NE and buying one of those nice little places outright, but now it will be ruined with sprawl once the base is built up.
NAR members are in a panic and are saying anything to save their jobs and their income. They don't care what happens to their "clients" as long as they keep their own income coming in.
Man I recall fondly driving in the east TX area on the way to a jobsite in Orange. The sequential billboards claiming someone had raped their daughter and gotten away with it and pleading for justice. The glow of neon signs outside the 24 hour bail bondsman storefronts, the monotony, the heat, the shacks with no doors, the trailers. Splendid!
Anonymous said...
Dow Jones Surges Past 14,000 As Credit Worries Subside, happy days are here!
October 01, 2007 10:48 PM
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Yes, very odd indeed. Citi & UBS write off billions, Morgan Stanley, BOA, Wachovia are all soon to follow and yet the market rallies because they are relieved to finally know how bad the problem is. HELLO MCFLY did you ever hear of underreporting? Do you realize that this is just one quarter of reporting on these losses that will continue to mount for the next 2-3 years? How many billions ion losses does it take for the market to realize that its overvaluing stockes and undervaluing risk? Obviously more than the 5+ billion in red ink reported today by only 2 of the many banks involved in this debacle!!
The NAR doofus said that you buy a house with 10% down, at a 5% annual price increase you get a 94% return on your investment in just three years.
True, that was the case when prices were rising.
Now when the prices fall 5% annually, you will have 94% loss on your investment in three years.
Definitely a great investment advice. The NAR only cares about generating sales, so that they can get their commission. They do not care about the buyers or the sellers.
And like any other investments you need to sell your investments at a high price, not just sit on the paper gains till they disappear too.
And houses are not stocks? Of course they are not. But when you start treating them both like investments, you have to be able to sell them when you can and lock in the profits.
And that window is rapidly closing on the home owners.
Good friend of mine moved to Spokane, WA and he loves it. Clean air, all the benefits of the country but also enough city living to balance. He does say housing is much cheaper and more stable that the Northeast. I can't speak for all those places but none of them seem to be soo significant as to offset the massive declines on the coasts. I an envisioning a pigeon trying to pull on an elephants tail to see the relationship b/t positive markets and negative markets.
those best places to buy are certainly places I would love to live in.
yeah, righ.
have you ever been to el paso texas or farmington nm. armpits.
sure, nice places to live. for someone else. salt lake city, yeah, if you are a mormon. (I have nothing against mormons and like many of their practices, but they only like to deal with other mormons.) they probably meant beaumont texas, which is fine if you want to live on a superfund site.
etc. etc. etc.
what a bunch of dipsticks.
Those talking points make me want to throw up!
The NAR is asleep at the wheel as usual. 2% gains in 2008,give me a break here people.Tell that to the sheeple in california bleeding thousands everyday.
I find it funny that cramer is trashing real estate so people will invest in stocks again.One bubble to the other again.This stock market rally is a total suckers rally.
You know what drives me absolutely bat-sh!t? The old 6% historic average price appreciation. Because it is a total lie.
Yes, 6% was the rate of appreciation over the last 60 or so years. But almost all of the appreciation of the last 60 years took place immediately after WWII and during the last 10 bubble years. So to represent a 6% appreciation as some kind of 'norm' is outright dishonesty.
Over the last 100 years the rate of appreciation is more like 0% when adjusted for inflation.
And since the larger your representative sample, the more statistically valid is your conclusion, the 0% rate of appreciation is hands down, flat out more accurate.
That is fact. Check out the work of a real economist, Yale's Robert Shiller, in his book Irrational Exuberance.
I hear you can get a good place in death valley!
Was that Detroit or Flint Michigan? Where are they on the list?
The fed is shooting the housing market in the foot. Sellers are refusing to reduce prices citing the recent and future interest rates cut. So deals do not happen and the market freezes. The Fed is so smart, Greenspam Jew trying hard to jawbone sellers to budge - hahaha.
Had a realtor in SLC tell me repeatedly to not rush into buying if I can wait. Same person told me that SLC market hit the skids in July. Builders in the area are offering incentives like SoCal circa last year. It's definitely a buyer's market and it's only gonna get better (for me, that is, who is sitting on a wad of a down payment!).
I think that is Bumfuck, TX. But then again, I repeat myself.
October 01, 2007 10:31 PM
"SLC is hanging by a thread and will collapse very soon."
Oh my heck! Don't cha know that were SPEEEESHEL (special) here in Utah. I mean were speeeeshel. Why would you try to upset us like that. It will only go up here. I think you are very rude to challenge our beliefs. I mean I was talking to my neighbors just the other day and we all agreed that our house values can only go up and you are making me very uncomfortable with all your "crazy crash talk"! I don't think it's APPROPRIATE for you to say such things. I might have to double up on my antidepressant after reading your crazy talk.
BTW: Last year's MLS inventory was about 10,000 and now it's over 20,000. That doesn't mean anything, does it?
Putting this alleged "spokesman" up against Cramer and exposing NAR's fraudulent spin to "Buy a house, PLEEEZE" on national TV was a public service.
Farmington, NM is a virtual appendage of Utah with the same in denial fools and the same irrational euphoria.
Owning a home isn’t just about investment, although that’s certainly important. It’s also about building community, a place of your own, and having a part of the American Dream.
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Ya, right. Wait til all the flippers Section 8 out their "dream" to illegals and welfare queens. so much for your community!
I've been to both Farmington, NM and El Paso, TX.
Believe me, you do NOT want to buy a home in either of these locations. They are the pits!
Jymkata
Santa Fe, NM
Having lived in Spokane for a time while in school, all I have to say is this: "It ain't exactly nowhere but you can see it from there."
they mean Beaumont, TX
"Realtors® are passionate"
*************
Not the 300+ lb - lesbian - Show-me-the-money (and buffet line) one I had! She was passionate about stuffing her pie hole as fast as possible.
ApleAnee said...
I have a map of the U.S. hanging on my wall which shows state by state the percentage of subprime mortgages issued in the last two years. I
============================
You need to get a life.
paul e math said:
"Yes, 6% was the rate of appreciation over the last 60 or so years. But almost all of the appreciation of the last 60 years took place immediately after WWII and during the last 10 bubble years. So to represent a 6% appreciation as some kind of 'norm' is outright dishonesty."
Dude wtf are you smoking? The 70s and 80s averaged well over 6% a year. The 90s were below and probably the 60s were too. But come on, to say that it was all in the last 10 years or after WW2 is simply wrong.
"The NAR doofus said that you buy a house with 10% down, at a 5% annual price increase you get a 94% return on your investment in just three years.
True, that was the case when prices were rising.
Now when the prices fall 5% annually, you will have 94% loss on your investment in three years.
"
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Check your math on that:
You lose 142% of your investment in three years, not 94%. Total loss on paper is $14,262.50 on a $100,000 home using 5% annual depreciation over three years. On a $10,000 (10%) down payment, that is a 142% loss on your investment, not 94%.
Now you can see why many banks may not even be comfortable lending to people who have 10% equity/down payment.
The good news is that the only people dumb enough to believe those talking points can no longer qualify for a mortgage.
A fiend of mine is trying to seel in Spokane valley that he bougt last year for $210,000, and added $25K into it for $250. No bites in 3 months. He has now dropped the price to $219K. 2 weeks.. no bites. You really have to be selling in those cities to know what's going on the ground. Don't just look at te numbers
Fox Channel 5 in Washington, DC ran an all-day infomercial last Thursay about housing tips, trips and scams. Pimping for the NAR in a desperate attempt to keep the scam going just a litle longer. Boycott all FOX news channels.
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