By Get in the Game

February 13, 2008 2:15 PM | Link to this

Again, a previous post from last quarter…same stuff 1 quarter later. We shall read the same comments in the next 4 quarters, as well.

Recovery this year? Sorry, guys the prices are not there yet, not even close.

Jeff

It’s not Gloom and Doom…

Again, we keep going back and forth over residential RE for some reason. All things being equal, you can use these two facts to dictate current conditions.

Fact #1: High Demand + Low Supply + Positive Media Blitzes + Emotions = Increase in Pricing

Fact #2: Low Demand + High Supply + Negative Media Blitzes + Emotions = Decrease in Pricing

Simple and to the point…

Prices just increased from $139,000 to $405,000 in 5 years which coincides with Fact #1

So, since we know prices are going to decrease (arguing over how much and for what duration), I do not understand why this is such new or sensational news.

So, now we wait for several years for Fact #2 to take shape.

Jeff, we are going to read the same headlines for the next 12 months, if not longer…again, it’s not gloom, just reality.

By Morgan Stanley

February 13, 2008 2:49 PM | Link to this

Morgan Stanley cuts 1,000 mortgage jobs amid housing slump.

The New York-based company said it will shutter its U.K. business that issues home loans and significantly scale back its mortgage business in the United States. Morgan Stanley joins hundreds of lenders in scaling back operations as the worst U.S. housing market in 26 years slows economic growth.

By Sheldon

February 13, 2008 4:00 PM | Link to this

Jeff,

On what does Seider base his assertion that the single-family-home market will bottom out later this year?

Sheldon

By Drive By Media Victim

February 13, 2008 4:33 PM | Link to this

After a four year news media gang-bang of the housing market what did you expect! See how many ways blood thirsty reporters at The Palm Beach Post slammed real estate:

1. Routinely 8MASQUERADING FORECLOSURE and distressed property consultants* as impartial real estate experts whose always negative comments became a self full-filling prophecy!

2. Quoting Wall Street brokerage economists whose only interest was to kill housing and drive investor $$$ back into stocks.

3. Targeting Florida with completely fabricated horror stories about 100,000 condo’s being bulit in Miami when condo constructions starts in all of Miami-Dade never exceeded 6,000 a year!

4. Constantly telling readers that mortgage interest rates were rising when rates were actually FALLING.

5. Hyping foreclosure statisitics but NEVER telling readers that nearly 50% of Florida homes DON’T even have a mortgage!

By Curious

February 13, 2008 5:32 PM | Link to this

Does any one else here think that those who constantly putdown the “have-nots” and bray the loudest and shrillest about being a “have” indeed are those same ones who are upside-down in what they “have?”

Sorry — just an observation and thought that amuses me.

Cheers!

By RHM

February 14, 2008 7:59 AM | Link to this

I now live out of state and love to read the blogs concerning real estate market in South Florida. South Florida is only for big shots and wannabe big shots. All that styling and profiling like any one cares. Got a call the other day about how amazing the new Publix bakery is on PGA Blvd. We laughed so hard because that is not important to us, but shows the dog show mentality of West Palm.

By RHM

February 14, 2008 8:00 AM | Link to this

I now live out of state and love to read the blogs concerning real estate market in South Florida. South Florida is only for big shots and wannabe big shots. All that styling and profiling like any one cares. Got a call the other day about how amazing the new Publix bakery is on PGA Blvd. We laughed so hard because that is not important to us, but shows the dog show mentality of West Palm.