Open House Picks: Six Months Later
Comment: Best results in months! Open House Picks 7/10/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Best results in months!
Open House Picks 7/10/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
Zandi has been wrong about the housing market since the beginning.
No wonder you’re having so many problems finding a house, MM.
It’s like Stevieb taking all of his housing advice from The What.
After the crash of ’29 there was a year of reGOVery prop-up in stocks like today’s S&P from March (yet retarded double digit P/E’s that have never bottomed there in the history of S&P). We all know how that worked out.
***Bid half off peak comps***
Here’s link to Zandi article tempering optimism in NYC (which it states did emerge briefly)…
http://money.cnn.com/2009/12/08/real_estate/housing_outlook.fortune/index.htm
Joe/BHO,
Most people think that the bulk of the decline has already occurred. Even the most pessimistic of economists would say that the large portion of housing declines are behind us.
And this place got more than 2 years ago.
All I’m sayin’.
Echoing Joeingowanus:
http://www.nytimes.com/2010/01/08/nyregion/08commercial.html?hp
If commercial hasn’t bottomed out, neither had residential. Much of what I’ve been reading suggests a boomlet of optimism occurred in fall, and may likely dip back down. Zandi, for one, (I believe in Time magazine recent issue) was predicting at least another 15% down in NYC…
You know I meant 750K.
***Bid half off peak comps***
It was then resold 2 years later (and after the largest housing crash in our lifetime) for $830,000.
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After?
Some of us think that the crash is still going on. And will continue for a number of years. Just look at what happened in the late 80s, early 90s. Took quite a while for for the bubble to unwind.
“after the largest housing crash in our lifetime”
Absolutely false. It’s [during], not “after”. Can’t say housing has bottomed until NY Case-Shiller YOY gets out of the deep red.
But 830K looks like a peak comp so a bone for the Bulls. Anybody got peak comps on 1st?
***Bid half off peak comps***
It’s worth noting that 19 Maple Street sold for $750,000 in 2007.
It was then resold 2 years later (and after the largest housing crash in our lifetime) for $830,000.