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      07-30-2010, 02:48 AM   #23
bjbubble
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It seems like the rest of the economy is starting to swing back in the right direction somewhat. The housing market is just taking its sweet time to follow. Previously it was over inflated though which makes the dip in prices seem that much more drastic.
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      07-31-2010, 09:20 PM   #24
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Originally Posted by lauer87 View Post
The prices we saw in 2007 should be regarded as the exception, not the rule.
To expound upon this for a minute, as I'm hoping to clarify. The housing market, like any market will, developed a price bubble - this part is not the exception, as all markets will do this to varying extents. Which leads me to the exception part - the size of this bubble (meaning the extent to which prices were artificially inflated) was extraordinary, and may in fact have been an exception. I will stop short of saying it will won't happen again to the extent that it did, however, because it is certainly possible. Additionally, it is also entirely possible that prices reach the levels they did and be completely legitimate - this is the inherent problem with such large markets with so many particpants, it is impossible to completely eradicate uncertainty and therefore bubble creation.
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      08-01-2010, 09:23 AM   #25
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I think we will get another drop in home prices...and precipitously so.....

while earnings season has yielded overall positive results....I still am still somewhat circumspect about this "recovery."

It will definitely be an interesting close to fiscal 2010....certainly hope things will get better for us!
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      08-01-2010, 10:29 AM   #26
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Quote:
Originally Posted by MJC///M3 View Post
I think we will get another drop in home prices...and precipitously so.....

while earnings season has yielded overall positive results....I still am still somewhat circumspect about this "recovery."

It will definitely be an interesting close to fiscal 2010....certainly hope things will get better for us!
+1 (unfortunately). We've seen a lot of the real short term ARMs and 3-year ARMs already adjust. 5-yr ARMs seem to round out the list of popular mortgages. With the housing peak in the 2005-2006 time frame, we've yet to see the bulk of those readjust. Hopefully, those people were smart enough to refi at some point or have already gotten out of their homes (in one way or another). Glad I refi'd to a lower rate while I at least had a little bit of equity left! Man I hate losing my money due to other people's foolishness.

That plus we'll see how the umployment situtation goes this year.
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