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The bottom of housing?

Old 07-26-2007, 01:59 PM
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Default The bottom of housing?

Nope. Everybody's panicking over bad mortages? Those are small potatoes compared to the money that is out there that is loaned out for development. That will be the final domino. When it will come, I have no idea. I believe the tip of the iceberg has been exposed in the mortgage industry with much more to come. If you have any money invested anywhere close to the housing industry, and I would check the company and see exactly all thy produce and what it is eventually used for. But the bottom will be when local and major banks become realtors. That will be the bottom. It will take six more months to a year but it's coming. Then buy, buy, buy. It will never get that cheap again, but it will never increase at the pace it did before.
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Old 07-26-2007, 02:43 PM
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Default Re: The bottom of housing?

This one is my favorite.

http://www.bloomberg.com/apps/news?p...yYA&refer=news

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Old 07-26-2007, 08:05 PM
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"Florida housing boom from 2001-2005"

Where have these guys been? The Florida gig has been going hard since 1990!
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Old 07-27-2007, 09:10 AM
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Default RE: The bottom of housing?

Bugbuster - 7/26/2007 1:59 PM

Nope. Everybody's panicking over bad mortages? Those are small potatoes compared to the money that is out there that is loaned out for development. That will be the final domino. When it will come, I have no idea. I believe the tip of the iceberg has been exposed in the mortgage industry with much more to come. If you have any money invested anywhere close to the housing industry, and I would check the company and see exactly all thy produce and what it is eventually used for. But the bottom will be when local and major banks become realtors. That will be the bottom. It will take six more months to a year but it's coming. Then buy, buy, buy. It will never get that cheap again, but it will never increase at the pace it did before.
Totally agree. been sitting on cash and waiting, waiting.........
Same thing going on here in Pensacola. We are in the middle of a housing recession and still condo's and housing developments are going up all around us?
Who is supposed to buy these properties when there are currently 3 times as many homes on the market than normal?
New homes have been vacant for nearly 2 years. I realize some developers have deep pockets and are re-financing their own loans to pay the banks but something will give. Very soon.
I find it interesting in the local newspaper articles are written by the Assn of Realtors stating now is the time to buy!!!! Don't wait.!!!!
And on the same page reports showing the housing purchases at record low numbers.
2 Years ago our market was flooded with eveyone and their brother becoming a realtor. Now, you couldn't pay me enough to be one. The veteren Realtors will be fine.
The newbies are not.
The way I see it. As long as I continue to sit on a cash pile in a savings acct, it's like earning 10-15% over the next year while the market stabilizes.
I truly do feel bad for those who bought at market prices in 2005-2006.There are some nice homes going into foreclosure around here and the Mortgage Companies (mainly CountryWide) still seem to think they are going to sell these properties at orig selling price. CW obviously made many interest-free zero down loans 2 years agoand it is now biting them on the a$$.
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Old 07-27-2007, 09:43 AM
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Default RE: The bottom of housing?

There is still too much inventory on the market so the bottom isn't here yet. Yes, it is going to get worse and, yes, there are going to be a lot of disappointed "recent buyers" and very disappointed "soon to be sellers". We always have "capital bubbles" and the last one was real estate. I wonder what is next?
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Old 07-27-2007, 10:13 AM
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I just checked out the local MLS in Lee County. We've got almost 31,000 properties for sale. That's almost inclusive though. But it doesn't include commercial or buy owner.
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Old 07-27-2007, 10:19 AM
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im glad i bought TOL at 26. cough. wheeze.
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Old 07-27-2007, 10:54 AM
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Tireless - 7/27/2007 9:43 AM

There is still too much inventory on the market so the bottom isn't here yet. Yes, it is going to get worse and, yes, there are going to be a lot of disappointed "recent buyers" and very disappointed "soon to be sellers". We always have "capital bubbles" and the last one was real estate. I wonder what is next?
I hear around Tireless' house thing are booming down there.
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Old 07-27-2007, 11:55 AM
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I'm just dying to buy a house, and start the whole cycle again.
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Old 07-27-2007, 12:27 PM
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Default RE: The bottom of housing?

Bugbuster - 7/27/2007 10:54 AM

Tireless - 7/27/2007 9:43 AM

There is still too much inventory on the market so the bottom isn't here yet. Yes, it is going to get worse and, yes, there are going to be a lot of disappointed "recent buyers" and very disappointed "soon to be sellers". We always have "capital bubbles" and the last one was real estate. I wonder what is next?
I hear around Tireless' house thing are booming down there.
Around here people keep buying houses and tearing them down for complete rebuilds......we are in a isolated pocket that seems to ignore the bigger housing trends.......maybe it has to do with the fact the commute to downtown is only 10 minutes long and I can get to millions of square feet of retail space in less than 10 minutes.
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Old 07-27-2007, 12:43 PM
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I keep telling you builder guys to pick up sticks and come on over here.

Building and selling boom still going strong.
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Old 07-27-2007, 12:50 PM
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twentynine - 7/27/2007 12:43 PM

I keep telling you builder guys to pick up sticks and come on over here.

Building and selling boom still going strong.
A while back I started to send a couple track-hoes down to do some demo work for the parrish's. Glad I didn't, rumor has it that some of the money, well alot of the money was used by the parrish's to do other things and they didn't pay the contractors. The contractors are caught up in "who paid who" between fema and the parrish's. Some to the tune of millions. Heard anything about that.
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Old 07-27-2007, 01:09 PM
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Bugbuster - 7/27/2007 12:50 PM
twentynine - 7/27/2007 12:43 PM I keep telling you builder guys to pick up sticks and come on over here. Building and selling boom still going strong.
A while back I started to send a couple track-hoes down to do some demo work for the parrish's. Glad I didn't, rumor has it that some of the money, well alot of the money was used by the parrish's to do other things and they didn't pay the contractors. The contractors are caught up in "who paid who" between fema and the parrish's. Some to the tune of millions. Heard anything about that.


Hold up!!!!!!!



I ain't talking about living off goverment work. I am talking about private and commercial construction. If you are a heavy equipment contractor, that is reliable, you'd have work to do.



Unfortunately some of what you said about non payment is correct. And it is my understanding that those getting paid are having to wait a danged long time for their money. The story goes that the parishes involved id not/ could not understand the federal requirements.
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Old 07-27-2007, 01:42 PM
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I've given up on housing and heavy equipment. I wonder if anybody down there would like to buy some equipment? Having a really hard time getting equipment sold around here, the market is totally flooded with used equipment around here.
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Old 07-27-2007, 02:36 PM
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Bugbuster - 7/27/2007 1:42 PM I've given up on housing and heavy equipment. I wonder if anybody down there would like to buy some equipment? Having a really hard time getting equipment sold around here, the market is totally flooded with used equipment around here.


That I can't answer. Don't even know who to call to find out.
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Old 07-27-2007, 02:50 PM
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Hey Bug, sounds like you need to move on out of Struggleville, Brother!
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Old 07-27-2007, 03:20 PM
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Just1more - 7/27/2007 2:50 PM

Hey Bug, sounds like you need to move on out of Struggleville, Brother!
No chit. I do actually live in a town called Struggleville. I get a pic an post it of the sign. Funny as he11.
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Old 07-27-2007, 07:07 PM
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Hafta agree with you on this one, bug. There's a real good chance that we've only seen the surface of the economic correction associated with the previous insane real estate market. The bill is going to come due for the irrational financing of the McMansions and the sub-primes. This will ultimately fall on the lending institutions. I have to believe those guys were smart enough to see this coming and counted on the increasing numbers of foreclosures. Then they get to own the real estate and sell it when the market rebounds. And take advantage of the short term losses in tax deductions. Smart folks can use this to their advantage, but the inept and greedy will get screwed. Which is at it should be. So hang on and hold tight.

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Old 07-27-2007, 07:53 PM
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http://biz.yahoo.com/bizwk/070727/ju...4162.html?.v=2

2 years, also I believe it, there a thing called a 4 year bull market, follow by 2 years of a break and then another 4 year bull market.

I think we are on the end side of a bull market that started in 2003, next 2 years will be flat to a small
loss and then 2009 hopefull will be back to norm.
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Old 07-27-2007, 11:09 PM
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There are so many unsold new units out here and more being built that I wonder what's going to become of all the hundred year old three deckers that populate so many old New England cities. Low rents for sure but I also wonder what will become of these old properties. It doesn't look like there is an incentive to renovate...maybe large scale demo might be in order. This looks like an urban planning issue that seems to have been missed.
Any thoughts on what to do if you find yourself owning one of these old three deckers?
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