tag:blogger.com,1999:blog-13164186.post3210725832918691386..comments2024-01-27T19:26:32.604-05:00Comments on Bubble Meter: More Cash for Clunkers bashingDavidhttp://www.blogger.com/profile/11169148764438565562noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-13164186.post-2134629254823547762010-03-26T06:08:26.968-04:002010-03-26T06:08:26.968-04:00Watch the unemployment numbers closely for a given...Watch the unemployment numbers closely for a given area, as that will determine what the housing market does in that area. When you see large local companies hiring sales people and marketers, this is a good sign. Relying on govt numbers to tell truth is a loser's game.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-56727089096067785272010-03-25T09:06:30.510-04:002010-03-25T09:06:30.510-04:00Anon - I think we all know it will never get that ...Anon - I think we all know it will never get that low. The website very well could be flawed, choosing a poor baseline. Or (given the home's drop of approx 5% to date) im guessing its in the immunozone where (as the other anon said) there was a lot of gentrification and (as you said) alot of very solid income growth.<br /><br />In hindsight yes, many of us were too pesimistic in our estimates of price drops. Still, we learn from our mistakes and move on. Perhaps you should too.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-35685652006749275242010-03-25T00:26:16.514-04:002010-03-25T00:26:16.514-04:00Anonymous said...
"James this isnt your site ...Anonymous said...<br /><i>"James this isnt your site is it?<br /><br />http://www.re-calculator.com/index.php"</i><br /><br />No, that's not my website.Jameshttps://www.blogger.com/profile/15243567377599238583noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-47687241843951972562010-03-24T21:07:27.724-04:002010-03-24T21:07:27.724-04:00There is no single formula to calculate home price...There is no single formula to calculate home prices. A home bay be in area that went to gentrification or became less appealing. A new train stop to the city may have been added or taxes may have gone up significantly make the place less attractive.<br />I do believe that we are at the start of a second dip in home prices with higher interest rates and persistent high unemployment. This will not affect all homes the same way.<br />My advice is compare the price of renting to the price of ownership, find a home you like and you can afford and buy it. <br />If it makes more sense to rent don't buy!!<br />The NAR says the population is growing so there is an increased need for homes. Today, I heard that more and more multi-generation families share one home. The real and shadow inventory of homes for sale is huge.<br />My opinion is that there is almost no up potential but still plenty of down potential.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-75578114554524179302010-03-24T20:33:17.432-04:002010-03-24T20:33:17.432-04:00yesyesAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-65359657931845891112010-03-24T18:22:50.372-04:002010-03-24T18:22:50.372-04:00The house may be worth 330K to someone, but it'...The house may be worth 330K to someone, but it's worth 685 to the owner.<br /><br /><br />Chuck - I understand that. In fact, since its under contract, I will go one further and say its worth that to the Buyer.<br /><br />That wasnt my question though. My question was based on that chart which assumes houses at the end of the bubble will revert to their inflation adjusted price - which as of today is 311-330K<br /><br />I find that to be ridiculously pessimistic - especially in light of the sheer lack of inventory and the rapidly rising incomes we see in this area.<br /><br />Hence my question - can anyone seriously think that the house, worth 430K in 2003, worth 700K at the peak and now worth 685K today, will ever ever see 311-330K as that site predicts?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-51809816245947922402010-03-24T12:08:35.693-04:002010-03-24T12:08:35.693-04:00Anon:
Sounds like you're having a crisis.
Le...Anon:<br /><br />Sounds like you're having a crisis.<br /><br />Let me help you a little. I have learned in life that something is worth what someone is willing to pay for it.<br /><br />That doesn't mean it's worth that for everyone. For example, my wife has a fascination with large diamonds, something I find completely worthless. Does that mean the diamond is worthless, or priceless? It's worth what someone is willing to pay you for it.<br /><br />The house may be worth 330K to someone, but it's worth 685 to the owner.<br /><br />ChuckChuck Ponzihttps://www.blogger.com/profile/02563190232678709911noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-61533138417199739482010-03-24T10:03:03.306-04:002010-03-24T10:03:03.306-04:00James this isnt your site is it?
http://www.re-ca...James this isnt your site is it?<br /><br />http://www.re-calculator.com/index.php<br /><br />According to this, the house I want to buy (which sold in 2002 for 430,000 and is selling today for 685K) is worth 311-330K today. <br /><br />Does anyone really believe this is even remotely possible?Anonymousnoreply@blogger.com