That’s year over year.
It’s coming!
Get ready.
for the crash?
We’re definitely headed down. I read some starry eyed optimists saying the bottom is here, and I can’t help but chuckle. I don’t think we’re anywhere near a bottom.
While the headline number was not good, and I think we are headed down further, we were up 9% from the prior month and more than economists forecast. What does this mean? While we definitely aren’t getting any better, we may not be getting much worse. The real problem is the supply and current inventory. Also, with Accredited Home Lenders and Fremont General, both big subprime lenders, getting an infusion of cash from investors, the anticipated glut of REO’s flooding the market may not be as big as once thought. I think there is much further to go, but there are some positive signs.
The problem is that you are catching a falling knife…
I think this Spring will be the crystal ball.
Bad spring= put a fork in it, it’s done!
You might not be too off in that respect. Toll Brothers CEO already stating that the spring season, which has just begun, is a complete bust.
I hope we get the blood in the streets selling with RE in my area of NYC/5 boroughs…I’m so sick of seeing buildings selling for 12x-20x annual rent roll…I will take heat on my primary residence but I will make up when I go on a buying spree when I see property values crying… Dollar cost averaging in RE works also…
so if you’re building a SFH - what types of discounts and deals should you be looking for or requesting?
how much control does a potential client for a builder have over the cost of building? i know material costs will not fluctuate that much, but as far as the builder getting top dollar (2004/2005 numbers - like $150 a sq ft - NY) should i shoot for like $100 sq ft? lower? higher?
The markets definitely going to crash. not like the stock market because there is still value in real estate but over the past few years, houses got too inflated. plus, there has been a lot of construction. plus a lot of people bought 2,3,5,10 houses and now there trying to sell them.