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Housing Recovery's Missing Link:
- Blazer Bob
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- Mountain Legend
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27 May 2014 09:44 #1
by Blazer Bob
Housing Recovery's Missing Link: was created by Blazer Bob
http://online.wsj.com/news/articles/SB1 ... 2502256878
"Economists, real-estate agents and many home builders expected first-time and entry-level buyers to begin returning to the market this year, jump-starting the sputtering housing recovery. So far, that hasn't happened.
Less buying at the market's lower end by first-time buyers has contributed to limiting sales of existing homes so far this year to a pace of roughly 88% of their 10-year average. It's also a factor in stunting sales of newly built homes to a pace of roughly 60% of their annual average since 2000."...
"Economists, real-estate agents and many home builders expected first-time and entry-level buyers to begin returning to the market this year, jump-starting the sputtering housing recovery. So far, that hasn't happened.
Less buying at the market's lower end by first-time buyers has contributed to limiting sales of existing homes so far this year to a pace of roughly 88% of their 10-year average. It's also a factor in stunting sales of newly built homes to a pace of roughly 60% of their annual average since 2000."...
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- FredHayek
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27 May 2014 09:49 #2
by FredHayek
Thomas Sowell: There are no solutions, just trade-offs.
Replied by FredHayek on topic Housing Recovery's Missing Link:
I heard weeks ago that more apartments are being built than homes. People are scared to buy a house, or don't have the money.
Thomas Sowell: There are no solutions, just trade-offs.
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- Blazer Bob
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27 May 2014 09:58 #3
by Blazer Bob
Or can''t get a loan. Great time to be a landlord. If I was just a quarter of a century younger...
Replied by Blazer Bob on topic Housing Recovery's Missing Link:
FredHayek wrote: I heard weeks ago that more apartments are being built than homes. People are scared to buy a house, or don't have the money.
Or can''t get a loan. Great time to be a landlord. If I was just a quarter of a century younger...
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- FredHayek
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27 May 2014 10:40 #4
by FredHayek
Thomas Sowell: There are no solutions, just trade-offs.
Replied by FredHayek on topic Housing Recovery's Missing Link:
The Denver area might be an abberation because homes aren't staying on the market very long these days, but I don't know how many of those people are first time buyers. I was talking with a realtor this weekend and she had a printout of one Denver neighborhood where homes were selling for between 98 to 110% of offering price.
Thomas Sowell: There are no solutions, just trade-offs.
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- ScienceChic
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27 May 2014 11:32 #5
by ScienceChic
The market is hot right now for people selling existing homes, my next door neighbor who's been doing real estate for almost 20 years is swamped with work right now and his advice is that if you are looking to buy and own a home already, go ahead and sell it, put all your stuff in storage, and be ready to pounce on what comes up because it isn't sitting and no one's taking contingency offers right now because they don't have to.
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill
Replied by ScienceChic on topic Housing Recovery's Missing Link:
More apartments are being built because of the new laws that were passed that opens home builders up to longer term liability. Why build a home that will be purchased that they can be sued 10 years later for something failing (which may or may not be their fault, but they'd have to defend anyway), when you can build a set of apartments on the same piece of land, sell to a commercial developer or management company, and have no liability because it's filled with renters?FredHayek wrote: I heard weeks ago that more apartments are being built than homes. People are scared to buy a house, or don't have the money.
The market is hot right now for people selling existing homes, my next door neighbor who's been doing real estate for almost 20 years is swamped with work right now and his advice is that if you are looking to buy and own a home already, go ahead and sell it, put all your stuff in storage, and be ready to pounce on what comes up because it isn't sitting and no one's taking contingency offers right now because they don't have to.
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill
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27 May 2014 11:51 #6
by FredHayek
Thomas Sowell: There are no solutions, just trade-offs.
Replied by FredHayek on topic Housing Recovery's Missing Link:
Yep, one of my friends is about to retire from being a landlord and is dumping all her properties. Most of them she is trying to sell to first time owners.
Thomas Sowell: There are no solutions, just trade-offs.
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- homeagain
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27 May 2014 14:44 #7
by homeagain
Replied by homeagain on topic Housing Recovery's Missing Link:
BIG difference between "city" and mountain stats...specifically the further you go up the mountain..(Parkco)...realtors WANT to sell, so they paint a really nice picture....
Reality is, very HIGH end is going like fire,low end also (cash buyers something like 40 percent)
the middle is getting better, but NOT on fire AND foreclosures (short sales) are STILL a problem,
but not as bad.....the housing market is VERY case specific and geo centered.
(this is from IMPLODE/EXPLODE financial website that I have followed for several years now).....
I just had a CMA done on my property in Parkco, comps are STILL hard to gather and we reside
in one of the two or three premiere sub-divisions in Parkco....I would NOT be able to re-fi,because
the appraisal would come in too low......there is STILL a problem with values.....getting better,
but NOT where it should be. JMO
Reality is, very HIGH end is going like fire,low end also (cash buyers something like 40 percent)
the middle is getting better, but NOT on fire AND foreclosures (short sales) are STILL a problem,
but not as bad.....the housing market is VERY case specific and geo centered.
(this is from IMPLODE/EXPLODE financial website that I have followed for several years now).....
I just had a CMA done on my property in Parkco, comps are STILL hard to gather and we reside
in one of the two or three premiere sub-divisions in Parkco....I would NOT be able to re-fi,because
the appraisal would come in too low......there is STILL a problem with values.....getting better,
but NOT where it should be. JMO
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27 May 2014 15:18 #8
by FredHayek
Thomas Sowell: There are no solutions, just trade-offs.
Replied by FredHayek on topic Housing Recovery's Missing Link:
With fears about global warming and fire dangers, I can see why more people don't want to live up here. And the hot thing right now is downtown not the outer burbs.
Thomas Sowell: There are no solutions, just trade-offs.
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- LOL
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27 May 2014 17:51 #9
by LOL
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
Replied by LOL on topic Housing Recovery's Missing Link:
LINK POLICE LINK POLICE!!!!!
I can't read the OP post link without subscribing to the Wall st. Journal corporate profit mongers.
THIS IS AN OUTRAGE!
MODS?
#ridikullous
I can't read the OP post link without subscribing to the Wall st. Journal corporate profit mongers.
THIS IS AN OUTRAGE!
MODS?
#ridikullous
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
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- Blazer Bob
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27 May 2014 17:57 #10
by Blazer Bob
Check your privilege, er I mean browser. I do not have a subscription. It opened for me. The top said something about a free taste.
Replied by Blazer Bob on topic Housing Recovery's Missing Link:
LOL wrote: LINK POLICE LINK POLICE!!!!!
I can't read the OP post link without subscribing to the Wall st. Journal corporate profit mongers.
THIS IS AN OUTRAGE!
MODS?
#ridikullous
Check your privilege, er I mean browser. I do not have a subscription. It opened for me. The top said something about a free taste.
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