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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: How long will this downturn last? Posted by Gc on April 08, 2008 at 10:32 AM In Reply to: Re: How long will this downturn last? posted by JDM on April 08, 2008 at 10:26 AM That's right, that is the real question. Lenders should wake up and smell the coffe. I think the longer it takes for them to come to reality, the harder they'll get hit. GC : : I think there is only a few people qualified to asnwer that question with some degree of accuracy and I think that would be Ward, Bruce Norris, or myself (just kiding) Hovever I did predict the start of the down turn and missed it only by a cuple of months. If you don't believe me check my posting at: : : http://www.foreclosureforum.com/mb/messages/12903.html : : Okey so maybe I got lucky...but IMHO I think it will be over in CA by 2010, with a couple of years of almost flat market. : : GC : : : : I know everyone has an opinion on this... With the credit crunch and tightened lender guidelines how long before we pull out of a declining market? : : : My guess is 3 Years... : : : Ward??? : Contrary to the talking heads with NAR, CAR and alike, we are in this market through 2010 IMHO. The SD market really peaked in late 05 - early 06. Problems became noticeable in 06 and the sunami hit shore in 07 when the media jumped on board. The question is not whether the downturn will last into 2010, the real issue is how long will the market tread sideways once things stabilize. During the last market downturn here in SD, the whole cycle really took a good six to seven years before values headed north again. This storm is far more powerful than the one in the 90s, keep that in mind. Enjoy the ride these next couple of years, now, if only the lenders would wake up and be more proative at the courthouse steps with their specified bids! Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : That's right, that is the real question. Lenders should wake up and smell the coffe. I think the longer it takes for them to come to reality, the harder they'll get hit. : GC : : : : I think there is only a few people qualified to asnwer that question with some degree of accuracy and I think that would be Ward, Bruce Norris, or myself (just kiding) Hovever I did predict the start of the down turn and missed it only by a cuple of months. If you don't believe me check my posting at: : : : http://www.foreclosureforum.com/mb/messages/12903.html : : : Okey so maybe I got lucky...but IMHO I think it will be over in CA by 2010, with a couple of years of almost flat market. : : : GC : : : : : : I know everyone has an opinion on this... With the credit crunch and tightened lender guidelines how long before we pull out of a declining market? : : : : My guess is 3 Years... : : : : Ward??? : : Contrary to the talking heads with NAR, CAR and alike, we are in this market through 2010 IMHO. The SD market really peaked in late 05 - early 06. Problems became noticeable in 06 and the sunami hit shore in 07 when the media jumped on board. The question is not whether the downturn will last into 2010, the real issue is how long will the market tread sideways once things stabilize. During the last market downturn here in SD, the whole cycle really took a good six to seven years before values headed north again. This storm is far more powerful than the one in the 90s, keep that in mind. Enjoy the ride these next couple of years, now, if only the lenders would wake up and be more proative at the courthouse steps with their specified bids! [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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