US housing sentiment hits lowest level in 16 years.
There’s an article on MSNBC today about the ongoing US housing market woes:
Housing developers are being squeezed by tighter lending standards for borrowers trying to get mortgage loans. In response to weak demand, developers are cutting prices and offering buyer incentives to cope with a mounting supply of unsold homes, the National Association of Home Builders said Monday.The trade group’s housing market index, which tracks builders’ perceptions of current market conditions and expectations for home sales over the next six months, fell to 28, the lowest reading since February 1991, the NAHB said.
So much for David Lereahs thought from May 2006 that ‘this may be the bottom’ of the US housing slump. I have a feeling if economic reality hits the Vancouver real estate market you’ll be hearing a lot of that from local ‘experts’, and just like bears that say ‘a correction is coming’ one day they will likely be correct.
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June 20th, 2007 at 8:52 am
Of the two I have to say I prefer Saty to Satv
At least he’s trying to be humorous and nonsensical.
Sadly, this is the level of discourse to which we have sunk.
Nonsensical, for sure, but humourous? Like a migraine.
June 20th, 2007 at 8:18 am
House walls made of mud not gold. Value is tin not gold. See mud as mud, tin as tin. Not gold. Do I play harp before a cow?
6/19/07 11:07 PM
can you buy that mud for 18.2 million’s go for it.
last year I have mention “land worth more than gold”my grandfather told me that, and I beleive that.
June 20th, 2007 at 8:01 am
Of the two I have to say I prefer Saty to Satv
At least he’s trying to be humorous and nonsensical.
“Consider please that even preying mantis ready to snatch grasshopper does not see big yellow bird behind him!”
But do not forget that in the end blade of grass is lowliest. Grasshopper eat grass and big yellow bird not prosper without grass for to feed. Grass is us! Swan may soar but grass grows tallest where swan poop the most.
June 19th, 2007 at 10:07 pm
rich people buy things to raise the price,and they sell things to crash the market.
Also consider that even weasal say “Happy New Yar†to chickens and hide malicious thought. Weasal bad yes of course but what if chicken eat up all grain? Which is bad?
Take heed and be not idle. Do not have hands in pockets while thinking to be rich. Is very true that man with hand in pocket feel cocky all day. That was very funny.
Must act. No ever ending banquet under sun. Banquet finished. Go home. You are wise and bad cannot happen for you? Consider please that even preying mantis ready to snatch grasshopper does not see big yellow bird behind him! Watch for yellow bird. But also black swan is more dangerous. Yellow bird has ordinary ways and can be vigilant to know what it will do. Always same nature. But nature of black swan is that cannot predict.
(Grasshopper story for freako who request grasshopper story last year.)
House walls made of mud not gold. Value is tin not gold. See mud as mud, tin as tin. Not gold. Do I play harp before a cow?
June 19th, 2007 at 1:41 pm
take a look at this:
2 B.C. developers looking to start own bank
June 19th, 2007 at 9:00 am
what is the “critical support” referred to in the investech graph?
June 19th, 2007 at 8:52 am
Hey that picture of the house looks like a good west side bungalo investment. $million bucks. Bargain at twice the price. Could rent it out to a bunch of students and only have to kick in an extra $2k of your own money to break even.
June 19th, 2007 at 7:59 am
bubble and ghost died in 1921.
June 19th, 2007 at 7:52 am
Low housing sentiment means less housing gets built, which translates to less demand for lumber. This will hit economies of BC and Quebec especially hard, as they are two provinces that depend on forestry sector.
June 19th, 2007 at 7:21 am
meanwhile US new home construction keeps on dropping as overextended buyers who bought during the boom try to dump houses back onto the market.
June 19th, 2007 at 5:44 am
“tulip you dare to compare state’s of hurricane catrina,charlie,and fear of terrorism’s with world’s best Vancouver.”
Those conditions existed during the bubble building stage.
What has suddenly changed?
Tick Tock, Tick Tock
June 18th, 2007 at 10:59 pm
tulip you dare to compare state’s of hurricane catrina,charlie,and fear of terrorism’s with world’s best Vancouver.
bubble+ghost+huricane+fear of terrorism = nothing.people like to live their life, not to lost in fear.
i like this argument by jeff that say’s rich people does not think like us.i am agree
rich people buy things to raise the price,and they sell things to crash the market.
up down trend does not really effect them.
on last post there was 6 diffrent reports all up and coming.
there is one more report i think the pop will deal with that soon.
tulip good try
June 18th, 2007 at 10:00 pm
Speaking of investech – here’s a great overlay they did of the bellweather index with David Lereah quotes.
June 18th, 2007 at 9:14 pm
Investech’s bubble index has fallen through support levels to hit a new low:
http://investech.com/
June 18th, 2007 at 8:43 pm
http://www.ushomeauction.com
Check this out, bidding prices to start at less than 50% of recent sale prices.
SATV, check out the bargains. Vancouver is months away from this scenario.