When will real estate prices begin rising again?

  1. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    Why is everyone?

    Goodness gracious where is everyone ?  Is real estate such a boring topic that no one wants to cha about it?

    Come on now post something !  Let's chat !

    Kiss
     
  2. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    Yoo Hoo Where Are You?

    Cat got your tongues ?
     
  3. You have chosen to ignore posts from Shoshanna. Show Shoshanna's posts

    Re: When will real estate prices begin rising again?

    Home prices are stabilizing and we have already hit bottom.  Inventory is low and rates are low.  As a homeowner, I am happy about that.  As a person, I am disgusted by the naysayers on these boards.  If you can't find a house in todays' market at these prices, you all don't deserve a house anyway.  Maybe the problems is that so many of the "young" people today don't want a starter home, live there, fix it up and move up in a few years.  It seems to me that these new breed of buyers want everything but don't want to pay for it.  I don't feel sorry for them. Start at the bottom where we all did and work your way up, it will make you nicer an more compassionate people in the long run.  I am so happy the market is turning around, it was scary listening to some of these bloggers who were happy that people were losing their homes to foreclosures.  It still disgusts me and I can only hope that those who were saying that someday face the same consequences as those who have suffered through foreclosure (for whatever the reason).  We are humans after all, even though so many of us act like animals.  So back in your face all you would be bitter buyers, your chances to buy at discount prices are numbered and I like so many of my homeowner friends and neighbors are sitting on the sidelines waiting because we are going to get all of our money back and then whatever we put into our houses to boot.  What is fair is fair after all. 

     
  4. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    Real estate prices are rising again!

    Shoshanna:

    You go girl. I so totally agree!

    Hopefully all the naysayers and gloom and doomers will go away and let intelligent owners, buyers and sellers have intelligent conversations.

    Good luck to Shoshanna and all other intelligent owners, buyers and sellers !  

     
  5. You have chosen to ignore posts from lrecliner. Show lrecliner's posts

    Re: When will real estate prices begin rising again?

    I think prices are at or very close to the bottom simply because we have reached a point where most sellers would have to incur losses they can't afford to take in order to sell their properties. 

    As a result, many sellers are either staying put, standing pat on the price, or, if they are already have bought someplace else, have chosen to bide their time and rent the property instead.

    For buyers, it can't get too much better then this..low prices, low rates, and the tax incentive. I agree with Shoshana, these people have set their expectations way too high. The rest think they are not getting a good deal unless they can double their money within 3 years. You want a return like that, then go to Vegas and roll the bones cuz those days are ovah in real estate.
     
  6. You have chosen to ignore posts from FinanceMike. Show FinanceMike's posts

    Re: When will real estate prices begin rising again?

    [QUOTE]I think prices are at or very close to the bottom simply because we have reached a point where most sellers would have to incur losses they can't afford to take in order to sell their properties.  Posted by lrecliner[/QUOTE]

    Ire, I'm not sure that the sellers' desire to avoid a loss is going to set the "floor" of the market.  It certainly hasn't in many other locations across the country such as CA, NV, AZ, FL, etc.. Fortunately for Boston sellers, we don't seem to be in as dire a state as those other areas, but we're not immune.

    The unfortunate thing is that some sellers will have to take losses if they want to sell their properties.  With the huge runup in prices ("the bubble"), there are bound to be people who overpaid, have to sell quicky, and end up with a loss.  If they can hold on for the long term, they'll likely get their money back, but if someone HAS to sell (such as if they can't afford their mortgage, lose a job, get transferred, lifestyle change, etc.) , then they may be forced to take losses. 
    Of course, if they don't sell, for some foreclosure will be the result.

    Good luck all!

    Finance Mike
     
  7. You have chosen to ignore posts from Tachikoma. Show Tachikoma's posts

    Re: When will real estate prices begin rising again?


    Home prices are stabilizing and we have already hit bottom.


    Shoshanna! What a pleasant surprise.

    How are you doing? Still sitting in your house, watching the prices around you sink, not being able to sell because you are under water already (just like your friends and neighbors that you mention)? Just don't forget that when you finally  need to sell the price of your house will be defined by all these foreclosure comps that are happening now.

    But I'm glad to see you as cheerful and hopeful as you were 2 years ago when the MA RE prices were still 20% higher and the US economy has not yet descended in the worst recession of our time. I hope you'll retain your cheerfulness while prices go down another 20% during the next two years.

    Meanwhile unemployment is on the rise and foreclosure party is gaining momentum:

    At the Statehouse yesterday, John Taylor, president and CEO of the National Community Reinvestment Coalition, predicted there will be 1 million foreclosure petitions nationwide over the next four months. In Massachusetts, the number could be as high as 50,000 to 60,000 petitions during the same period, he said.

    http://www.gloucestertimes.com/punews/local_story_085062451.html



     
  8. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    Re: When will real estate prices begin rising again?

    [QUOTE]Shoshanna! What a pleasant surprise. How are you doing? Still sitting in your house, watching the prices around you sink, not being able to sell because you are under water already (just like your friends and neighbors that you mention)? Just don't forget that when you finally  need to sell the price of your house will be defined by all these foreclosure comps that are happening now. [/QUOTE]

    Ah sweet, sweet, SCHADENFREUDE !
     
  9. You have chosen to ignore posts from Tachikoma. Show Tachikoma's posts

    Re: When will real estate prices begin rising again?

    [QUOTE]Ah sweet, sweet,  SCHADENFREUDE ![/QUOTE]

    Keep it simple, my friend. It's all about "what is fair is fair". I hope Shoshanna had her brief moment of euphoria too at some point. But the irrational exuberance is a b*tch, especially for those who bought at the very top.
     
  10. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    Sam Zell knows real estate

    Sam says, buy, BUY, BUY !

    Billionaire investor Sam Zell said real estate values are down about 30 percent and the U.S. housing market is “bottoming out.”

    “You’re going to see a lot of people make a lot of money by buying real estate” as a result of the overly pessimistic forecasts, Zell said in an interview today on Bloomberg Television. “It’s more likely the banks will either foreclose or come up with some kind of restructurings that will ultimately allow the properties to trade.”
     
  11. You have chosen to ignore posts from lrecliner. Show lrecliner's posts

    Re: When will real estate prices begin rising again?

    FM,

    What I said was that I believe many motivated sellers have already accepted some loss, but are at the point where they can't afford to give up much more. If you can't come up with the difference at closing, then you can't sell it.

    You are right, the result will be that some will face short sales or foreclosures, but many more will seek alternatives to selling (staying put, renting, taking in borders, gov't assistance etc). For those reasons as well as some I am probably not even thinking of, I can't see prices going down TOO much more than they already have any time soon. Could be wrong, but thats my take.
     
  12. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    Happy days are here again

    Homebuilder confidence rises to six month high

     Confidence among U.S. homebuilders in April increased to the highest level since October, a sign low lending rates and government efforts to stabilize the housing market may be putting a floor on the industry’s slump.

    The National Association of Home Builders/Wells Fargo index of builder confidence rose to 14 from 9 the prior month, the biggest gain since May 2003, the Washington-based NAHB said today. A reading below 50 means most respondents view conditions as poor.

    Record-low mortgage rates and falling home prices are beginning to stir demand for housing after almost four years of declining sales. Still, inventories near record levels, spurred by foreclosures, indicate any recovery in housing will be lengthy as the economy remains mired in what may become the longest recession in seven decades.

     
  13. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    Re: When will real estate prices begin rising again?

    Beige Book Shows Improvement

    A U.S. Federal Reserve survey released Wednesday was more optimistic than last month, showing that the pace of economic decline is starting to moderate in some parts of the country.

    Reports from the 12 regional Fed banks show that the 12 districts reported some hopeful signs that activity in some sectors was starting to stabilize, said the economic report widely known as the beige book.

     
  14. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    Farewell to FM a.k.a INH, B2B, etc.

    The new format has banished an old pest.  

    Farewell to FM a.k.a INH, B2B, etc.

    TY BG.

    GOOD LUCK TO ALL !!!

    Sammy Z.
     
  15. You have chosen to ignore posts from FinanceMike. Show FinanceMike's posts

    Re: When will real estate prices begin rising again?

    Hi all -

    I'm not sure what this implies for Boston, but it says something about the state of home ownership in the US.  The below link goes to a site that helps calculate whether you should stay in your home or walk away and go through foreclosure.  It's a bit scary that this is enough of an option that someone spent the time to program this site.

    http://youwalkaway.com/output24/InterectiveFlashCalculator.html

    via Wall Street Journal, via Boston Real Estate Blog...

    Good luck all!

    Finance Mike
     
  16. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    Re: When will INH a.k.a. B2Bottom post again?

    Good old FM, he always responds to reports of his demise, can INH a.k.a. B2Bottom Call be far behind?

    Of course now that the IRA/401k rush is over in the call center he/they can resume posting their 10,000 word rants.

     We are waiting with bated breath...

    S s s Sammie 
     
  17. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    State Street Still Suucks

    State Street Suucks... Again

    Boston’s State Street Corp. saw its profits and revenue fall sharply in the first quarter.  The fumbling financial firm said profits were down 16 percent, to $450 million, while revenue was off 22.3 percent, to $2 billion, during the first three months of the year.   State Street chief executive Ron Logue said the declines occurred during “one of the toughest” periods in decades for the financial sector.

    No Duh Ron Boy.

    Sssssammie

     
  18. You have chosen to ignore posts from jeorge. Show jeorge's posts

    Re: When will real estate prices begin rising again?

    Depending on the economy, and if the prices really come down to normal levels - which they haven't yet - 2015-2020 seems reasonable.

    A big factor could be inflation. Inflation could kill the dollar and in those terms push RE prices way up. That's kind of a very-bad case scenario. But it's a reasonable one, that would solve our problem of public sector HR costs.
     
  19. You have chosen to ignore posts from jeorge. Show jeorge's posts

    Re: Sam Zell knows real estate

    [QUOTE]Sam says, buy, BUY, BUY ! Billionaire investor Sam Zell said real estate values are down about 30 percent and the U.S. housing market is “bottoming out.” “You’re going to see a lot of people make a lot of money by buying real estate” as a result of the overly pessimistic forecasts, Zell said in an interview today on Bloomberg Television. “It’s more likely the banks will either foreclose or come up with some kind of restructurings that will ultimately allow the properties to trade.”
    Posted by RealEstateMaven[/QUOTE]
     
  20. You have chosen to ignore posts from Xaphius. Show Xaphius's posts

    Re: When will real estate prices begin rising again?

    Wouldn't the actual ideal be STABLE, as oppsed to rising prices? 

    Seems to me, homes as financial investments is just a modern idea that has turned out to be bad.  And based on a model of money tht is essentially a pyramid arrangement - as we now slide down the back....


     
  21. You have chosen to ignore posts from jeorge. Show jeorge's posts

    Re: Sam Zell knows real estate

    [QUOTE]Sam says, buy, BUY, BUY ! Billionaire investor Sam Zell said real estate values are down about 30 percent and the U.S. housing market is “bottoming out.” “You’re going to see a lot of people make a lot of money by buying real estate” as a result of the overly pessimistic forecasts, Zell said in an interview today on Bloomberg Television. “It’s more likely the banks will either foreclose or come up with some kind of restructurings that will ultimately allow the properties to trade.”
    Posted by RealEstateMaven[/QUOTE]

    Sam's been losing a lot of money these last few years. Some people can't afford to lose $2-3 billion. From what I can see Sam's preaching others to buy but he's selling.
     
  22. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    Re: Sam Zell knows real estate

    "Sam's been losing a lot of money these last few years. Some people can't afford to lose $2-3 billion. From what I can see Sam's preaching others to buy but he's selling."

    No Duh Georgie!   Sam's momma didn't raise no dummies.

    Ssss Sammy 

     
  23. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    Real estate prices began rising in January

    FHFA home price up 1.7% YTD 


    U.S. home prices rose in February for the second straight month, according to the Federal Housing Finance Agency index released Wednesday. Prices rose a seasonally adjusted 0.7% in February after a revised 1% increase in January, the agency said. Prices rose in six of nine regions in February, led by a 3.8% gain in the Northeast region
     
  24. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    Ya gotta love it...

    Picture 1149.png
     
  25. You have chosen to ignore posts from bullseyejoe. Show bullseyejoe's posts

    Re: When will real estate prices begin rising again?

    http://www.nytimes.com/2009/04/22/business/economy/22leonhardt.html?_r=1

    Interesting article with interesting graph

    Includes Boston line for incomes to home prices over 30 years
     

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