Watch this video and tell me Peter Schiff does not know his stuff.

Buy Buy Buy!

holy shit that woman was just like my ex wife.



holy fucking shit, BITCH STOP INTERRUPTING ME>

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.
 

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.

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.