Housing Market Outlook
Karen Weaver, head of market strategy and research at Seer Capital Management LP, talks about the outlook for the U.S. housing market. Weaver talks with Carol Massar and Matt Miller on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)
See my 8-19-10 post: Was There A San Diego Real Estate Recovery? & my 11-17-10 post San Diego Home Sales Take Huge Fall , where I said “The evidence presented in this and other recent San Diego real estate reports seem to indicate that we have already entered into a ‘double-dip’ in San Diego home values.
Housing Market Woes
housing market
Housing woes are now the way they should be, a more accurate representation of the country as a whole.
Housing CANNOT recover until one of two things happens. Either prices need to fall to make homes affordable to our new, lower, wages (excepting government wages, government gifted businesses & auto unions) or good paying, family supporting jobs need to return. Read more 
Housing Market Forecasts
housing forecast
While some economists are concerned about the possibility of an ongoing housing market downturn in 2010, one recent report finds that increased home affordability and government incentives will help stabilize the housing market this year.
Real Estate – A Coming Down Cycle?
A Second wave of adjustable home loans may push the real estate lower the middle of 2010 through the end of 2011.
Los Angeles attorneys
Yale’s Shiller Discusses U.S. Housing Market
Robert Shiller, an economics professor at Yale University and co-creator of the S&P/Shiller home-price index, talks with Bloomberg’s Carol Massar about the U.S. housing market. Shiller also discusses U.S. stocks. (This report is an excerpt of the full interview. Source: Bloomberg)
Point Loma real estate
Forecast of Housing Foreclosures for the Next 5 Years
This is not about inciting fear. It’s about providing the accurate numbers. We have been forecasting these downturns for the past 3 years. Sub Prime wasn’t a surprise and this next wave shouldn’t be either. You can’t LEND on the honor system. Like it or not… this info is accurate.
In this video they are saying now what they should have been saying years ago. and contrary to popular belief it is not the effect of the whole Fannie/Feddie thing. It is the effect of repealing acts such as the Glass-Steagal, among others.
Bill Clinton repealed the Glass-Steagal Act. He still defends that move. It is not clear whether that contributed to the banking crisis. It may have it may not have. The primary cause of the banking crisis was the crash of the housing industry which was brought to us by the Community Reinvestment Act.
Let’s not ignore the two primary individuals who recommended the Glass-Steagal Act repeal to Clinton. Our present Secretary of the Treasury, Timothy Geithner and the infamous Larry Summers. Both powerful players in Obama’s Administration. Connect the dots. Wake Up America.
San Diego home listings
Peter Schiff and Marc Faber — The Economy on The Glenn Beck Show
To put this video in context, be sure to view yesterday’s Peter Schiff’s video. Personally, I cannot say if Mr. Schiff’s forecast will actually come about, but,based on his prior track record, I think it would be prudent to consider that there is a good probIlity that Mr. Schiff will again prove correct.
If you believe hyper-inflation will be good for real estate, you may want to reconsider. Hyper-inflation will occur with increasing interest rates, higher gas, utilities, taxes and maintenance fees. How can home values increase when one is paying $20 for a gallon of gas?
San Diego housing market
Housing Market – Stabilazition or Continued Drop?
Futures contracts that trade on the Chicago Mercantile Exchange forecast a further decline of 14.5% by November 2010, after which home prices likely will begin to revive.
Joseph Davis, the chief economist of Vanguard Group, agrees. Even if the tax break were immediate, "it's not going to be very effective," he says. "It's a down-payment issue. The (credit) door has closed shut for many households. And negative home-price psychology has them on the sidelines."
A subsidy to help buyers meet down-payment thresholds "would have been the biggest bang for the buck in housing stimulus," Davis says.
Overall, Davis judges the massive steps the federal government is making to address the current economic malaise to be "necessary but not a sufficient condition for economic stabilization. And the reason is, they do not directly address the two sources of considerable stress in the economy: One is the issue of solvency in the banking sector, and the second front is housing, and they're both related."
Recent Related Posts:
Existing-Home Sales Up – Home Prices Fall
Fed Spends $750 billion to Lower Mortgage Rates
Housing & Stock Market Worries
Real Estate ‘Insiders’ Forcasts … Dead Wrong for 2008
What real estate market insiders were saying to the public in December 2007 about the 2008 real estate market forecast.
What is really troubling is why these same 'experts' are again interviewed when their past housing forecasts were 180 degrees off. Well, I guess, sooner or later they will be correct! Most who purchased homes in 2008 have seen their equity erode. Here in San Diego, 2008 saw double digit home price drops.
Really, what do you expect an 'economist' working for an industry trade group to say about future trends?
[youtube]AHT5UwiYtDc[/youtube]
Home Prices to Fall 29% in 2009 – National Association of Home Builders
At building industry trade show in Las Vegas, David Crowe of the National Association of Home Builders said: "We have consumer confidence at or near a historic low, and it will probably deteriorate in 2009. The nation has an excess "overhang" of 6.2 million homes for sale, about 1.5 million too many." Crowe said he expects prices to fall another 29 percent this year and new home sales to decline 14 percent.
Also, Mr. Sullivan, chief economist of the Portland Cement Association said: "I see another full two years almost before a significant gain." Mr. Sullivan was one of the first industry economists to predict the current downturn. San Diego Realtors