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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Where is this going? Posted by Alfred, SoCal on August 13, 2010 at 9:26 AM In Reply to: Re: Time for amatuers to be flushed out again. NT posted by LazyMan on August 12, 2010 at 9:54 AM I see a lot of sellers are reducing their asking prices. A seller in the neighborhood where I've got a project has reduced his price twice in the last 4 weeks. No matter how much a house is discounted and even if mortgage interest rates are at historical lows... if people can't qualify for home loans it just doesn't matter. Households are in trouble, people have lost or are worried about losing their jobs or having their hours cut, and they are scared and are saving and trying to pay off debt. Meanwhile the banks are holding back and slowly letting their REOs back out into the market so as not to depress home prices any further. Yet, we've got another 4-5 million foreclosures that will be coming over the next few years. Who knows what the government will attempt in order to solve this. Someone is going to have to buy all these homes that will be coming on the market, and the prices are going to keep dropping just based on supply and demand and the other basic dynamics of economics. It really is all about jobs and I don't see anything happening in the economy that is going to create the millions of jobs needed any time soon. These are interesting times. Follow Ups: Jobs are just one piece of the puzzle. JK (the other JK) 7:20 PM, 08/15/10 (11) Why would firing CEO's be prudent? ( NT) M.Osterman 7:26 AM, 08/16/10 (10) Re: Why would firing CEO's be prudent? ( NT) JK (the other JK) 7:47 AM, 08/16/10 (9) Re: Why would firing CEO's be prudent? ( NT) Spookey 6:08 PM, 08/16/10 (4) Re: Why would firing CEO's be prudent? ( NT) JK (the other JK) 6:41 PM, 08/16/10 (3) Re: Why would firing CEO's be prudent? ( NT) Spookey 11:33 AM, 08/17/10 (2) Re: Why would firing CEO's be prudent? ( NT) JK (the other JK) 6:21 PM, 08/17/10 (1) Re: Why would firing CEO's be prudent? ( NT) Spookey 2:19 PM, 08/18/10 (0) Maybe making every bus driver CEO of a real estate brokerage firm would help? Logic Man 8:31 AM, 08/16/10 (3) I didn't suggest letting a bus driver run a bank. But now that you mention it could they really do any worse? JK (the other JK) 8:56 AM, 08/16/10 (2) I'll agree to throwing the CEOs out on the condition that we throw Congress out as well (better yet put them all in prison). NT Alfred, SoCal 10:22 AM, 08/16/10 (1) I'd agree to those terms. :) NT JK (the other JK) 6:42 PM, 08/16/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I see a lot of sellers are reducing their asking prices. A seller in the neighborhood where I've got a project has reduced his price twice in the last 4 weeks. No matter how much a house is discounted and even if mortgage interest rates are at historical lows... if people can't qualify for home loans it just doesn't matter. Households are in trouble, people have lost or are worried about losing their jobs or having their hours cut, and they are scared and are saving and trying to pay off debt. Meanwhile the banks are holding back and slowly letting their REOs back out into the market so as not to depress home prices any further. Yet, we've got another 4-5 million foreclosures that will be coming over the next few years. Who knows what the government will attempt in order to solve this. Someone is going to have to buy all these homes that will be coming on the market, and the prices are going to keep dropping just based on supply and demand and the other basic dynamics of economics. It really is all about jobs and I don't see anything happening in the economy that is going to create the millions of jobs needed any time soon. These are interesting times. [ 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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