CNBC housing segment today @ 3:00pm

[bdc63]

There was just a teaser on CNBC for a segment that I thought some of you might be interested in ...

"How's your beach house? Still worth what you paid for it? Wait 'till you see what we found out. Today, on 'The Closing Bell'."

correction ... I believe it's 4:00pm ET

 

[imasunbum]

I missed it - did anybody catch? If so please share.

 

[spinDrAtl]

They also did a feature story this morning on the Today show regarding the 'bursting of the real estate bubble'. Usatoday.com runs an article every week or so highlighting a different area of the country where prices have come down.

If all the national news outlets are now making this one of their top stories, does that mean it's almost over??? Just a question, as usually these folks are the last to the party.

On the bright side, the 10 year treasury bond is at its lowest level in 4 months.

 

[Beachlover2]

I am not sure if I saw it or not - I got home for the last 15 minutes of the show and they were on other topics - but with like 3 minutes to go in the show they bring up second homes and how the market is dead there right now - but if you have a multi million dollar place - they are still selling. Mentioned a few celebrities that recently bought in the Hamptons and I think Naples area. That was all I saw. - Not much.

 

[bdc63]

I am not sure if I saw it or not - I got home for the last 15 minutes of the show and they were on other topics - but with like 3 minutes to go in the show they bring up second homes and how the market is dead there right now - but if you have a multi million dollar place - they are still selling. Mentioned a few celebrities that recently bought in the Hamptons and I think Naples area. That was all I saw. - Not much.

Yep, that was it. No new news. To SpinDrAtl's point, it almost seemed like out-of-date information with newsbreaks like 'inventories are up 50% over last year'.

 

[beerman]

I was thinking the same thing, in fact, have been kind of thinking that recently when reports come out that real estate is slowing down. Certainly the real estate slowdown that so many here are familiar with had to make headlines sometime. I think that its having done so is just another step that had to be taken. I, for one, am glad to hear that it's on the news. I wish the story would really take off and dominate the news for a while. Then, maybe, we could get somewhere.

 

[SHELLY]

If all the national news outlets are now making this one of their top stories, does that mean it's almost over??? Just a question, as usually these folks are the last to the party.

Almost over? No, it's just at the very beginning. Front page stories about the sales down and inventories up will be followed by stories of double-digit price declines, more broken contracts, foreclosures, some perp walks for appraisers, developers and others in the industry, etc., etc. And when the dust settles, don't expect a return to the hot RE markets experienced in the last couple of years--that won't happen again for a couple of generations. <IMO ;-) > (Think Tech Bubble--but in slow motion and more far-reaching)

 

[30A Skunkape]

Almost over? No, it's just at the very beginning. Front page stories about the sales down and inventories up will be followed by stories of double-digit price declines, more broken contracts, foreclosures, some perp walks for appraisers, developers and others in the industry, etc., etc. And when the dust settles, don't expect a return to the hot RE markets experienced in the last couple of years--that won't happen again for a couple of generations. <IMO ;-) > (Think Tech Bubble--but in slow motion and more far-reaching)

So do you think that I might be able to swoop in and get a good deal in say 2007-2008? That is my plan anyway.

 

[spinDrAtl]

Almost over? No, it's just at the very beginning. Front page stories about the sales down and inventories up will be followed by stories of double-digit price declines, more broken contracts, foreclosures, some perp walks for appraisers, developers and others in the industry, etc., etc. And when the dust settles, don't expect a return to the hot RE markets experienced in the last couple of years--that won't happen again for a couple of generations. <IMO ;-) > (Think Tech Bubble--but in slow motion and more far-reaching)

I don't necessarily think it's almost over - I just threw that out as a point for discussion because in the past, these issues become headline and lead story news well into their life cycles. I think you are a little behind as well. There are already front page stories about sales down and inventories up. There are already stories of double digit declines (see my point about usatoday above). There are already stories of broken contracts and foreclosures (not to mention projects that are not going to get off the ground now). No perp walks yet, however.

I humbly disagree with your assessment of hot RE markets every couple generations. Perhaps the 100% increases in a year type market but in general terms, RE booms and busts tend to run in the 15-20 year range, not a couple generations.

 

[dsilvar]

So do you think that I might be able to swoop in and get a good deal in say 2007-2008? That is my plan anyway.

Almost over? No, it's just at the very beginning. Don't expect a return to the hot RE markets experienced in the last couple of years--that won't happen again for a couple of generations.

Compliments of Shelly's crystal ball...
That means you could have your grand kids also cash in on the cold RE market.:clap_1: