Back to Real Estate

home sale #'s bode ill for anyone selling

chansterBanned
1,834 views
the new home sales and existing home sales were of a depressionary levels.total inventory #'s ballooned to over 11 months. beach properties from panama city to destin have 30-40% downside and vacant lots have 50-60% downside. i talked to a broker in destin today that said 2 out of 3 applicants getting rejected for mortgages

Edited

Replies

6
AAbsolute avatar
AAbsoluteBanned
#2
the new home sales and existing home sales were of a depressionary levels.total inventory #'s ballooned to over 11 months. beach properties from panama city to destin have 30-40% downside and vacant lots have 50-60% downside. i talked to a broker in destin today that said 2 out of 3 applicants getting rejected for mortgages

How does the depressionary levels calculate. Is it the number of homes per month selling or the number of homes per month selling vs. the number listed?

Is the depressionary levels based on the depression of 1837, 1893 or 1929?
chansterBannedAuthor
#3
1929 despression. its the total annualized # of 407k that is back to levels i believe OF the 1970's when the pop was 40% less. AND WHO KNOWS I MIGHT EVEN BUY ONE OF YOUR HOMES FOR PENNIES ON THE $.
AAbsolute avatar
AAbsoluteBanned
#4
1929 despression. its the total annualized # of 407k that is back to levels i believe OF the 1970's when the pop was 40% less. AND WHO KNOWS I MIGHT EVEN BUY ONE OF YOUR HOMES FOR PENNIES ON THE $.

I think your data is off by about 1,000% on the annualized rate.

I have a home you can buy right now for 200 pennies on the dollar.
30ashopper avatar
30ashopperSoWal Insider
#5
Things will be tough going forward. Everybody best get into a defensive position. I wish you all the best.
AAbsolute avatar
AAbsoluteBanned
#6
Things will be tough going forward. Everybody best get into a defensive position. I wish you all the best.

Duly noted. Those who remain in the biz might want to use my favorite offensive plan.


YouTube - Brandon Jacobs Runs Over Laron Landry
SHELLY avatar
SHELLYSoWal Insider
#7
Duly noted. Those who remain in the biz might want to use my favorite offensive plan.


And don't forget to wear a cup:

.
YouTube - The Nutty Buddy

Checking your forum account

Please wait while we verify your forum account.