Comments on: Nope, Not Me http://www.arcadiahousingblog.com/2008/05/09/nope-not-me/ Tracking the Arcadia and San Gabriel Valley Housing Market Thu, 20 Nov 2008 16:31:57 +0000 http://wordpress.org/?v=2.5.1 By: TheArcadian http://www.arcadiahousingblog.com/2008/05/09/nope-not-me/#comment-2264 TheArcadian Sat, 10 May 2008 03:20:43 +0000 http://www.arcadiahousingblog.com/2008/05/09/nope-not-me/#comment-2264 Word has it that banks are holding onto a lot of inventory knowing that dishing it all into the market will just drive down values even further. They are hoping the Summer sell-off will prop up prices a bit. Word has it that banks are holding onto a lot of inventory knowing that dishing it all into the market will just drive down values even further. They are hoping the Summer sell-off will prop up prices a bit.

]]> By: joanbob mounteer http://www.arcadiahousingblog.com/2008/05/09/nope-not-me/#comment-2263 joanbob mounteer Sat, 10 May 2008 02:20:54 +0000 http://www.arcadiahousingblog.com/2008/05/09/nope-not-me/#comment-2263 Blame part of this on the realtors who are not "real" with the sellers they take listing from. Also, I don't thinks banks are all that desperate yet. Blame part of this on the realtors who are not “real” with the sellers they take listing from. Also, I don’t thinks banks are all that desperate yet.

]]> By: Sean http://www.arcadiahousingblog.com/2008/05/09/nope-not-me/#comment-2262 Sean Sat, 10 May 2008 01:15:04 +0000 http://www.arcadiahousingblog.com/2008/05/09/nope-not-me/#comment-2262 77 percent of homeowners from around the country hope by voting Same or Increasing they will stop the market from falling. That poll must be off. Unless you have your head in the sand you have to know home prices are falling. Even if it said the same then it fell due to inflation. Nevertheless, as the media paints the world coming to an end, it's hard to see in SoCal. Everything really goes on as normal. Costco is packed, SUV's still fill the gas pump bays, the highways are still clogged, restaurants are busy, etc. I don't see the pain, I just see a group of idiots who overpaid for there homes the past 3 years letting them go to the bank. But not enough homes for panic. I rent in a newer condo complex and there are 2-3 units for sale that are not selling, but it's spring and with 400 units only 2-3 for sale isn't that bad. If 40 were for sale then I would think yeah, this is a fire sale, but 2-3 is hardly enough to pick from. I see the writing on the wall, I listen to it on TV and the news, yet it seems like business as usual. It's not the bubble mania, but it's not the desperation I expected in troubled times. 77 percent of homeowners from around the country hope by voting Same or Increasing they will stop the market from falling.

That poll must be off. Unless you have your head in the sand you have to know home prices are falling. Even if it said the same then it fell due to inflation.

Nevertheless, as the media paints the world coming to an end, it’s hard to see in SoCal. Everything really goes on as normal. Costco is packed, SUV’s still fill the gas pump bays, the highways are still clogged, restaurants are busy, etc. I don’t see the pain, I just see a group of idiots who overpaid for there homes the past 3 years letting them go to the bank. But not enough homes for panic.

I rent in a newer condo complex and there are 2-3 units for sale that are not selling, but it’s spring and with 400 units only 2-3 for sale isn’t that bad. If 40 were for sale then I would think yeah, this is a fire sale, but 2-3 is hardly enough to pick from.

I see the writing on the wall, I listen to it on TV and the news, yet it seems like business as usual. It’s not the bubble mania, but it’s not the desperation I expected in troubled times.

]]> By: AKR http://www.arcadiahousingblog.com/2008/05/09/nope-not-me/#comment-2261 AKR Fri, 09 May 2008 22:32:55 +0000 http://www.arcadiahousingblog.com/2008/05/09/nope-not-me/#comment-2261 Oil price can not keep going up with weakening economy. I guess one of the main reason for current high oil price is that investors has no where else to put their cheap money borrowed from the fed reserve bank. Oil price can not keep going up with weakening economy. I guess one of the main reason for current high oil price is that investors has no where else to put their cheap money borrowed from the fed reserve bank.

]]> By: missedthebubble http://www.arcadiahousingblog.com/2008/05/09/nope-not-me/#comment-2260 missedthebubble Fri, 09 May 2008 17:38:37 +0000 http://www.arcadiahousingblog.com/2008/05/09/nope-not-me/#comment-2260 Totally agree with you... there is a disconnect, but I think slowly but surely the gap will be closing. I looked up historical data on the Oil prices and prices at the pump. So for every $25 in the price of oil, gas prices should go up by $1.25. Huh, what... since Oil has gone up so quickly there is a lag time, and I am sure other technical things I am not aware of. But, if Oil prices maintain the $126 price point, gas prices should rise to $6.25. I understand that Oil is not as exciting as RE, but the word of the day is "Hyperinflation" and the bonus word for the day is "Recession". What does this have to do with home price? Yes, I get it... It is all speculation, Oil couldn't possibly be this expensive, eventually it is going to fall back to $40 to $50 bucks a barrel.... Really.... Doesn't this sound a lot like the people that told you that Home Prices only go up.... Again... Record # of foreclosures happening and are impending Record Oil prices, and some predictions of $150 to $200 are out there. Record # of bankruptcies are impending... Unemployment is growing... especially in California... Again, how do you resolve any of these issues without going into a severe recession? Totally agree with you… there is a disconnect, but I think slowly but surely the gap will be closing.

I looked up historical data on the Oil prices and prices at the pump. So for every $25 in the price of oil, gas prices should go up by $1.25. Huh, what… since Oil has gone up so quickly there is a lag time, and I am sure other technical things I am not aware of. But, if Oil prices maintain the $126 price point, gas prices should rise to $6.25.

I understand that Oil is not as exciting as RE, but the word of the day is “Hyperinflation” and the bonus word for the day is “Recession”. What does this have to do with home price?

Yes, I get it… It is all speculation, Oil couldn’t possibly be this expensive, eventually it is going to fall back to $40 to $50 bucks a barrel…. Really…. Doesn’t this sound a lot like the people that told you that Home Prices only go up….

Again…

Record # of foreclosures happening and are impending

Record Oil prices, and some predictions of $150 to $200 are out there.

Record # of bankruptcies are impending…

Unemployment is growing… especially in California…

Again, how do you resolve any of these issues without going into a severe recession?

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