14 replies to this topic

[qqqqtrdr]

I too have most of my money currently managed ( Long and short brokers ). I'm not happy that they missed Feb 27th, so I'm down for the year with them. I was on the wrong side of it myself, but I learned from that mistake, and know what I did wrong. The housing market is in for a big fall. Why, there is a lot of people paying for their homes for what they have saved up in the market or in the equity in their homes. My neighbors did a lot of upgrades to their home and owe $90,000 on their house. When they bought their home 20 years ago they paid $86,000. Currently taking out loans on your property is very commonplace, and most assumes home property values will go up. Banks are upset that the government is being more strict on giving loans out. Most banks were reaping great profits for 4 years during the lean times in Technology because of all the home loans they were able to close, and almost immediately sold those loans to someone else, thus not taking any liability. Now we are in the situation where we can see a 30 - 40% drop in home prices in areas that have gone up 200% or 300% in the last 10 years. This in itself does not look too bad, but many people you bought at the high point will walk. There are many people especially in California, who live on the equity in their home. Their gravy train will come to a halt. Barry

[Tor]

Its all a currency issue. Either house prices fall 30% or the currency does. In the UK it is the same - sterling needs to drop 30% or housing. That will set the realignment. Beneficiaries may be Yen, Euro and Gold. Good trading.

[HiFiGuy]

Yeah... Real Estate is just terrible here .... NOT.

Marin tops Bay Area in home sales

The median price of a single-family home in Marin increased less than half a percent last month - to $929,500 - over the previous February, but saw the largest jump in sales volume - nearly 25 percent - among the nine Bay Area counties.

Single-family sales totaled 167 in February, up from 134 in February 2006, according to DataQuick Information Systems, a La Jolla-based real estate information service.

"It is consistent with the real estate history of Marin County as far as sales go," said Fred Angeli, vice president and manager of the Frank Howard Allen San Rafael office. "In Marin we have limited new construction, a lot of open space and it continues to be highly desirable to live here."

The Marin median condo price rose by 2.3 percent to $544,000 last month, up from $531,750 the year before, and sales fell 12 percent to 58, from 66.

Marin's overall market activity was strongest in the Bay Area with the overall median price, including condominiums, increasing by 3.8 percent to $829,000 last month from $799,000 last year. Marin also saw the largest increase in overall sales, which jumped by 4.1 percent to 228 from 219 last year. Overall sales in all other Bay Area counties dropped by 6 percent or more, (More)

it's probably those GS and other wall streeters buying their 3rd or 4th home from long time Marin resisdents who want out while the gettin's good.

I have a suspicion that there's a high percentage of vacant homes in downtown SF, all owned by the world's elite as their SF "home away from home." The super-wealthy are taking over and pushing the merely "well-to-do" out. just a theory...

[da_cheif]

bears have been early for decades.....heres one 4 years ago...lol

http://www.forbes.co...1...oo

[pdx5]

Remember what Baron Rothschild used to say....

"I got rich by selling too early"


I do not believe in the apocalyptic view of Mr Rogers. But just in case it happens,
will Da Chief please turn the lights out

Edited by pdx5, 18 March 2007 - 12:28 AM.