tag:blogger.com,1999:blog-6616959642391988608.post3995120898415351607..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Housing price updateScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-6616959642391988608.post-68889757035909643312011-07-27T08:24:20.629-07:002011-07-27T08:24:20.629-07:00You're probably right, except a couple of poin...You're probably right, except a couple of points:<br /><br />JOBS, JOBS, JOBS... Housing prices can stay stable or fall a little bit more. Interest rates can get close to zero. But if you don't have a job, you cannot pay your mortgage. <br /><br />Also, the qualifications are harder today for a mortgage. That is why we see more cash purchases.<br /><br />Even the 'guru' Suzie Anonymoushttps://www.blogger.com/profile/13034123803715253207noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-70313168130917893572011-07-27T03:34:04.008-07:002011-07-27T03:34:04.008-07:00Cobodog is right. Finding a "quality rental&q...Cobodog is right. Finding a "quality rental" is like trying to find a "quality job."Johnhttps://www.blogger.com/profile/06365403570563730880noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-9757278093145630002011-07-26T22:18:50.335-07:002011-07-26T22:18:50.335-07:00As long as rents increase, home prices will increa...As long as rents increase, home prices will increase. If renters can't get the down payment or qualify, investors will.Cabodoghttps://www.blogger.com/profile/08299113185481067179noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-64461584304206154892011-07-26T21:17:02.495-07:002011-07-26T21:17:02.495-07:00Indeed, there are some housing markets where the m...Indeed, there are some housing markets where the monthly cost to own (PITI) is significantly less than the cost of renting. The big hurdles for many prospective buyers are scraping together a down payment and meeting today's more stringent requirements to qualify for a mortgage.Kurthttps://www.blogger.com/profile/10367631459218660529noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-66282653119229035172011-07-26T19:44:24.410-07:002011-07-26T19:44:24.410-07:00In housing markets that did not bubble, the cost o...In housing markets that did not bubble, the cost of owning and renting a stand-alone home is almost exactly the same.<br /><br />Why is there so much focus on calculating the likely future value of homes based on their historical value? The homes of today are rated to last much longer and are constructed with better materials, like plastic siding and high-stress concrete foundations.<br /><br />AStone Glasgowhttps://www.blogger.com/profile/00545401735030232324noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-85230409724119075992011-07-26T15:31:56.260-07:002011-07-26T15:31:56.260-07:00mr grannis is in the denial stage still of tragedy...mr grannis is in the denial stage still of tragedy. he can't accept that the fed cannot re inflate a bubble in an asset class that burned the common man.septizoniomhttps://www.blogger.com/profile/14253705209662419429noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-14922233201304413082011-07-26T15:19:06.498-07:002011-07-26T15:19:06.498-07:00Before anyone concludes that housing prices are st...Before anyone concludes that housing prices are stable or are continuing to drop, they need to interview someone who is actively looking to find a quality rental.<br /><br />Rentals are high in demand and rental prices are increasing. Housing demand will soon be driven by fundamentals of the cost to rent vs. the cost to own. <br /><br />This is a healthy development for the market and not based Cabodoghttps://www.blogger.com/profile/08299113185481067179noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-38551011079322135732011-07-26T15:10:36.079-07:002011-07-26T15:10:36.079-07:00In the late 90s, my wife and I sold a house at a m...In the late 90s, my wife and I sold a house at a moderate loss. When I asked the real estate agent why the price didn't appreciate as RE agents said they did, he replied "houses IN THIS PRICE RANGE are not increasing in value. <br /><br />Eureka! The housing market is not monolithic. Income distribution matters, and will be reflected in the housing market. High end and starter homes willJohnhttps://www.blogger.com/profile/06365403570563730880noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-74643900763712322282011-07-26T13:10:39.568-07:002011-07-26T13:10:39.568-07:00I hope Scott Grannis is right with this well-done ...I hope Scott Grannis is right with this well-done analysis. <br /><br />On the other hand, house prices in Japan fell all through the 1990s, so that they could fall all the way through the 2000s also. <br /><br />Sadly, we are following Japan's macro policies to a "T": We are running fiscal deficits, and we are trapped at zero bound. <br /><br />Bernanke has backed off QE--just likeBenjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-77641651506564384472011-07-26T12:25:56.604-07:002011-07-26T12:25:56.604-07:00Unless something terrible happens you are probably...Unless something terrible happens you are probably right. What is also clear is that with the tremendous overhang of properties still out there, the ability of prices to rise again in the medium term (5 years) is seriously impaired.<br /><br />An interesting statistics this morning on new homes, where 16% of all sales failed. According to experts more stringent mortgage requirements was the Frozen in the Northhttps://www.blogger.com/profile/04901959687094626879noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-57455611980759979722011-07-26T12:25:48.942-07:002011-07-26T12:25:48.942-07:00Given the reality of declining housing prices, a d...Given the reality of declining housing prices, a declining employment to population ratio, the declining dollar, and rapidly increasing gold prices, I believe economists will now begin to conclude that the US is in depression, albeit limited in scope to Main Street USA -- the nation's "too big to fail" banks, the unionized automobile industry, Federal workers, and the defense McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.com