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Category: Business Strategies Current Grade: A- Total Views: 1072 Member Comments: 4 |
Posted on: 08/27/2008 Posted by: JohnCorey Blog Points: 1666 View all blogs >> |
I am not a believer in market timing for real estate or even that there is one market. What happens in one community does not drive what will happen in another.
The other side of the coin is many people read the public press. They think in terms of the market being up or down, a good or bad time to buy and other such things.
Here is a bit from a recent newspaper article which implies the bottom is insight. Note that this is a press report in a UK paper (The Independent). What is going on in the US housing market is of keen interest to the folks in the UK.
US house prices still falling but the 'worst has passed'
By Stephen Foleyin New York
The Independent
http://www.independent.co.uk/news/business/news/us-house-prices-still-falling-but-the-worst-has-passed-909737.html
"Optimists concluded that, with the pace of decline slowing — and almost half of the cities showing an uptick in prices compared with May – the bottom of the market could be in sight. And they pointed, too, to data from the Commerce Department which showed a 2.4 per cent month-on-month increase in the number of newly built homes sold in July, which suggests bargain-hunters are being tempted into the market."
If the bottom is in sight some of the best bargains will start to dry up.
Get out there and hunt.
John Corey www.ChelseaPrivateEquity.com/blog
The other side of the coin is many people read the public press. They think in terms of the market being up or down, a good or bad time to buy and other such things.
Here is a bit from a recent newspaper article which implies the bottom is insight. Note that this is a press report in a UK paper (The Independent). What is going on in the US housing market is of keen interest to the folks in the UK.
US house prices still falling but the 'worst has passed'
By Stephen Foleyin New York
The Independent
http://www.independent.co.uk/news/business/news/us-house-prices-still-falling-but-the-worst-has-passed-909737.html
"Optimists concluded that, with the pace of decline slowing — and almost half of the cities showing an uptick in prices compared with May – the bottom of the market could be in sight. And they pointed, too, to data from the Commerce Department which showed a 2.4 per cent month-on-month increase in the number of newly built homes sold in July, which suggests bargain-hunters are being tempted into the market."
If the bottom is in sight some of the best bargains will start to dry up.
Get out there and hunt.
John Corey www.ChelseaPrivateEquity.com/blog
Thanks for the support. I did not notice the 'F'. I wonder if they had something to say or just wanted to offer a low rating.
Brian and Don,
With the economic figure out today (3.0+ growth in the prior quarter) maybe the US will avoid a recession. That would be helpful to house prices.
John Corey
www.ChelseaPrivateEquity.com/blog
Blog aside, here is another A just to offset someone's F bomb. Obviously there is a pattern developing here. I think we have a phantom bomber.
To whoever keeps doing this, if you have an issue with someone just be polite and don't grade at all. Every time I see an F on anyone's blog who wrote a decent or even fair blog that is a C quality or better from my perspective. I will keep just giving A's to help offset for any of your F bombs. I don't know who you are and I don't need to know. Try to be nice in the world, it just makes the world a little bit easier for everyone to live in. You might even find yourself less stressed out as well.
Try being a little nicer to others even when you don't feel like it.
Best of success,
Joel
Brian Lucier
I saw a similar article in the Boston paper. http://www.boston.com/business/articles/2008/08/26/consumer_outlook_up_worst_may_be_over_for_housing/
Positive story but in my local paper there are 14 new foreclosure notices. Nationally maybe the bottom is in sight, but we still have a long way to fall to get to it and I am sure a few people will get some broken bones on the way.