I rest my case, Pete. What was once a good topic has become nothing more than a fanatical rant for you. That’s a shame, because the housing market’s condition IS something that should be discussed. Note…discussed. Look above. Something was said that wasn’t what you wanted to here. Is there discussion? No, it’s just a flaming post in retaliation.
And let’s get something straight, friend. I have NEVER disagreed that the US housing market is NOT declining. I just don’t agree with you on the pending implosion of the market. Sorry that that bothers you so much. In fact, in one of your first posts on this subject, I believe that I mentioned it was going to be the guys in the middle of this mess, the one’s that don’t see it as rosy nor going to hell in a handbasket that would take the brunt of the blows on this.
As far as saving the world, or the people caught up in this mess, I guess we’re all doing what we feel we can. Do I suggest that everyone begin buying property? No. In fact, my suggestion is for people NOT to become investors at all until they thoroughly learn their market and the basics of REI. People get into trouble with RE all the time, in all market conditions. Is it my fault? If not, why rant on me?
Now, the backyard thing. In fact, my market is doing pretty well, for my market, really, it’s doing great. Most of NC and the southern states in general, had an overall growth in the market, of about 5%, if memory serves. That’s including tanking market FL, and the Katrina damaged areas, not to mention the declining coastal NC markets. So, if you’re not in one of those areas, you do the math. Will it continue? Don’t know. Just part of knowing your market.
All the media wants to report the declining US Housing Market. Why? Because it makes for good stories. (on a side, on a previous post, Funder reported good news from the media. Your response, pete…“the media isn’t being told the REAL truth.” Yet, when you report it, they are? But I digress). The US Housing Market is a myth. Heck, even the D&G websites admit this. Real estate is local in it’s market. What is affecting one marketing negatively may be affecting another positively, or not at all.
Last report… 43 of the major housing markets were in decline, according to the D&G info. What they fail to mention is that many of those markets were the ones experiencing double digit annual appreciation for several years. Did bubbles exist in those markets? HECK YEAH!!! And quite frankly, Pete, if people didn’t think that those markets were going to decline SOMETIME, then there’s more problems there than a few posts are going to fix. What is a decline actually? Well, if you’re trying to report on the negative, it’s ANY decline. So of those 43, how many do you think had annual declines of 3-5%, not 10 or 20%? More rather than less, I’d wager. Unfortunately, details aren’t given.
Pete, Your posts don’t offend or sicken me. Truth is, I don’t want you kicked off this site for this. And it’s very possible. You yourself have already mentioned that you’ve been asked to cool it. Common sense would dicate that someone on a rant about the pending housing implosion on a website dedicated to real estate investments would be a problem. I see that you feel too strongly about this at this point to care about that or even to have sensible conversations about it.
You want a look into the future, I’ll give you one. I foresee a decline in the posters for these forums. If this is the future, it can start with me.
Raj