Is housing coming back?

friend of mine told me that housing was up 10% last month (asking price) and that they were selling. I told him that those were low end homes and cash only sales from investors. Does anyone really buy the hype that housing is making a come-back?!?!? If anything I see years of more pain and misery and lower prices...

Originally posted by pityocamptes
friend of mine told me that housing was up 10% last month (asking price) and that they were selling. I told him that those were low end homes and cash only sales from investors. Does anyone really buy the hype that housing is making a come-back?!?!? If anything I see years of more pain and misery and lower prices...

It isn't coming back here at all - still going down. They come on the news once in a while to blow sunshine up everyone's a$$, but the numbers don't bear it out.

I agree. I see where the NAR-tards were caught listing new apartment units as new individual HOUSE CONSTRUCTION!!! So, if a new apartment complex went in with 500 units, the NAR was saying these were 500 new "housing starts"... my ass...

Not to mention that banks all over the country are still keeping multitudes of properties off the market in an attempt to artificially inflate demand.

The prices here remain very low, but better than a lot of places in the midwest.

I don't believe a word of it when they say it's up nation-wide.

The prices aren't low they are realistic

Originally posted by RealSpoke
The prices aren't low they are realistic

edit on 2-4-2012 by RealSpoke because: (no reason given)

Well then I guess they will get "lower" Realistic will be 2.5-3.00 times a yearly wage. Considering that tax returns are at an all time high, lower return amounts, but tons of them, implies that high end jobs are gone and the vast majority are low end jobs meaning that as we return to norms (and dare I say drop way below mean levels) most will rent and very few will own. I pray for the day interest goes up as housing prices will completely tank by then...

I read an article about what most are doing now when they buy: they offer asking price so that the seller accepts under contract. The buyer hires the most anal inspector money will buy and has the inspector go through the home with a fine tooth comb, returning with 20 pages of things that need to be fixed with a 75K price tag. The buyer counters saying that the price needs to come down 75K. the buyer balks. The seller waits until the contract expires - 4 to 5 weeks, which means that the property is off the listings for this amount of time and "sale pending" - which means no one will offer when they see that. So the buyer ties the property up for 5 weeks. Plus, now the documents are discoverable to any other prospective buyer. In the end the seller usually capitulates and the buyer gets the house for a smoking price. I may have to try this here in the next few months...

The Dallas-Fort Worth area is showing signs of recovery. There are a lot of new homes being built. Houston and San Antonio are picking up to. All I can say is God Bless Texas. Yee-hawww!!

Originally posted by Q33323
The Dallas-Fort Worth area is showing signs of recovery. There are a lot of new homes being built. Houston and San Antonio are picking up to. All I can say is God Bless Texas. Yee-hawww!!

Its called govt subsidized building...

This explains it all...

Not sure who's saying there's a comeback.

Here's what Case Shiller reported last week.

www.standardandpoors.com... ine%3B+filename%3Ddownload.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwher e=1245331072494&blobheadervalue3=abinary%3B+charset%3DUTF-8&blobnocache=true

The settlement our government has negotiated with the 5 big banks should guarantee the rate of foreclosures will increase which will in turn increase the inventory of homes for sale.

www.realfreemarket.org...

While it may seem like the number of new homes being built has increased, most places it's only because we're seeing an increase over RECENT numbers.

www.forecast-chart.com...