1 reply to this topic

[nimblebear]

Best article, and most truthful ive seen in a long long time. In terms of price declines we aint seen nothing yet.

Trade up buyers are gone.
Investors are going to get pummeled- deservedly so by the way.
Helocs and cash out refinancers are so far under water, not even bernank can help them.
People citing "recovery" are full of it. Deceptive use of figures. Liars figure, and figurers lie.


http://www.businessi...ing-soon-2012-5

[Dex]

Best article, and most truthful ive seen in a long long time. In terms of price declines we aint seen nothing yet.

Trade up buyers are gone.
Investors are going to get pummeled- deservedly so by the way.
Helocs and cash out refinancers are so far under water, not even bernank can help them.
People citing "recovery" are full of it. Deceptive use of figures. Liars figure, and figurers lie.


http://www.businessi...ing-soon-2012-5

I read the article and I understand his point about the lack of actual foreclosures and no trade ups.
Macro wise
- short term -now - 5 - 7 years - yes housing down to flat - market supported by rentals
- medium term 7 - 10 years - overhang of people wanting to sell keeps prices low
- long term greater10+ years - inflation + housing shortage = another boom

Generally, economically, everything will suck for the next 10 - 13. I am guessing it will be something like Europe in the 70s (I think), high systemic unemployment 8-9% officially, higher unofficially, stagnant wages, decrease in potential to advance in the workplace (due to older workers staying on the job & lack of growth) and increasing taxes (social security and others).