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1/22/2020 12:12:56 PM
Posted: 9/21/2009 6:00:10 AM EST
Watch this video and tell me Peter Schiff does not know his stuff.

Buy Buy Buy!
Link Posted: 9/21/2009 6:18:23 AM EST
holy shit that woman was just like my ex wife.

holy fucking shit, BITCH STOP INTERRUPTING ME>
Link Posted: 9/21/2009 6:24:05 AM EST
How can a buyers market be a best time for a seller?

Is she annoying, yes. But the guy was wrong...(even at the time).

Link Posted: 9/21/2009 6:29:31 AM EST
Originally Posted By Chris_C:
How can a buyers market be a best time for a seller?

Is she annoying, yes. But the guy was wrong...(even at the time).



So, you are saying that we did not have a "housing bubble" collapse last year?

Link Posted: 9/21/2009 6:33:51 AM EST
[Last Edit: 9/21/2009 6:35:10 AM EST by CookmyLock]

Originally Posted By Schadenfreuda:
Originally Posted By Chris_C:
How can a buyers market be a best time for a seller?

Is she annoying, yes. But the guy was wrong...(even at the time).



So, you are saying that we did not have a "housing bubble" collapse last year?

if you had sold when he said to in that video, youd get damn sight better than youd get today.

as of like 1/1/08 everyone was still sorta not sure if the housing market was going to turn around permanently or start heading up again, I had been hearing about it on the net for probably a year so i knew..., but everyone i knew were still thinking of buying a new house.

Link Posted: 9/21/2009 6:43:43 AM EST
Don't ever take real estate advice from people talking about figures at a national level.

The real estate agent is right: Real estate is driven by submarkets: local subdivisions, workforce areas, key cities, etc. We have areas in Phoenix that have dropped 60% since '07, and we have areas that have dropped 9% since '07.

Schiff is correct, prices nationally have tanked across the country for the majority of the country in '07.

What we are expecting in december is the following:
-Congress won't extend the first-time home buyer tax credit.
-Home prices were artificially inflated along with demand for them to close before the tax credit deadline.
-November-Feb traditionally is a slow time for residential real estate (nobody wants to move during the winter & holidays)
-There wont be rushed first-time buyers snatching up properties, so the inventory will build.

We are expecting there will be some major price drops with a lot more houses being on the market this winter.
Link Posted: 9/21/2009 6:45:33 AM EST
There's been a FEW markets to not see dramatic declines....Seattle is one such market that's weathered this storm quite well.

NAR unfortunately has been a cheerleader telling people to buy homes and not look at what was happening as a whole in terms of sales.

We've got 3-4 more years of hard times before stuff starts to rebound, and I genuinely hope we never see the shenanigans we've seen
over the past 6-8 years ever happen again. Too many people were playing games and making buckets of money.
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