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Dan, where are you getting these numbers from?
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"The DPRK is still in a state of war with the U.S. It's called a black out." - Che explaining why orbital nightime pictures of NK show few lights. Seriously. -
Volume was up overall, meaning that the worst effect of a declining market isn't there (people refusing to sell).Originally posted by DanS
Another month of reaccellerating price declines. A 1.03% decline from July to August. Only 2 of 20 metro areas were positive this month -- Boston and Cleveland.
Some metro areas like Detroit looked like they were stabilizing last month, but took a leg down this month. San Francisco took the biggest hit, with a whopping 3.48% price decline from July to August. Phoenix dropped 2.86% month-to-month. San Diego dropped 2.31%. Las Vegas dropped 2.35%.12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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Here's the series...Originally posted by Patroklos
Dan, where are you getting these numbers from?
I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Do those numbers include REOs?Comment
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Well, one of my neighbor's houses got foreclosed on and it sold for $230,000 at auction. Nothing like owning a house which is worth $170,000 less then when I bought it. :\Try http://wordforge.net/index.php for discussion and debate.Comment
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Nothing like buying a house at its actual non speculatory value
Out of curiousity Oerdin, did you consider you house overpriced when you bought it?"The DPRK is still in a state of war with the U.S. It's called a black out." - Che explaining why orbital nightime pictures of NK show few lights. Seriously.Comment
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What's a REO?Originally posted by Aeson
Do those numbers include REOs?I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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JINGLE MAIL TIMEOriginally posted by Oerdin
Well, one of my neighbor's houses got foreclosed on and it sold for $230,000 at auction. Nothing like owning a house which is worth $170,000 less then when I bought it. :\12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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How would you know?Originally posted by Patroklos
Nothing like buying a house at its actual non speculatory value
I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Real Estate Owned. It refers to properties that go back to the mortgage lender after a foreclosure, generally sold at auction.Originally posted by DanS
What's a REO?
There's a guy on YouTube who goes over home sales reports for CA in detail. He's always pointing out stuff like that. Not sure if that's the way it works or not, but he does seem to know a lot about the real estate market.
Essentially he's saying that number of headline sales included REOs sold at auction. Only problem is all houses at auction "sell", since if they don't go to a buyer, they "sell" back to the holder (bank). The rates of REOs at auction that sell back to the bank are at over 90% in CA.
He says in June it was close to half of all headline home sales were of this type, where the property didn't actually change hands, it just sold at auction back to the bank that was offering it. He's claiming that there's actually a lot more supply on the market (at least for CA and similar bubble states) because of this (fewer real sales, more inventory held by banks). 4.5 years instead of the published 10-11 mos (which isn't good in any case).
(Previous videos often delve into the actual numbers he's basing this off of. This is more of an overview video. Lehman and F&F busted after this video of course. He's been right about most of his predictions, will be interesting to see if his predictions about Sept-Oct in this video are right.)Comment
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Not sure if this is the right thread but UK...
another 2.2% last month... 13.7% year on year at this stage...
at this rate it will be around 17% for 08... and likely around 25% (just year on year) when April 09 comes to round up 12 months of falling prices Apr 08 - Apr 09, as it was only in Apr08 when the market started moving down significantly...Socrates: "Good is That at which all things aim, If one knows what the good is, one will always do what is good." Brian: "Romanes eunt domus"
GW 2013: "and juistin bieber is gay with me and we have 10 kids we live in u.s.a in the white house with obama"Comment
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