Jump to content
House Price Crash Forum
Realistbear

Is The Bell Tolling For Housing? U S Market News

Recommended Posts

http://www.businessweek.com/bwdaily/dnflas..._5942_db035.htm

The news that Toll Brothers' orders are down may seem to signal a bursting bubble. More likely the air is coming out slowly
Housing bears keep searching for the one piece of news that will prove conclusively that the housing market is crashing. They seemed to have it within their grasp on Feb. 7, when homebuilder Toll Brothers (TOL ) announced that its orders fell 21% from a year earlier in its first fiscal quarter, which ended Jan. 31.

No more denial in the US. No full out admission yet but bearish sentiment is building.

California in big trouble:

http://www.builderonline.com/industry-news...rticleID=256258

Default Notices Are on the Rise

Source: The Sacramento Bee

Publication date: 2006-02-06

By Andrew LePage, The Sacramento Bee, Calif.
Feb. 6--It took less than eight months for Dustin Suposs' "American Dream" to become a nightmare.
He and his girlfriend, both in their early 20s, got caught up in the
better-buy-now mentality
that fueled the Sacramento area's housing market last spring. They bought a $365,000, 1,550-square-foot home in Elk Grove with no money down. The result: A $2,300-a-month payment that was more than 2 1/2 times the rent they were paying.
By December the couple were drowning in bills and debt. Now they're two months behind on the mortgage.
Experts say the pair are part of a new trend
-- a growing wave of distressed borrowers just beginning to hit Sacramento and across California.
"Everyone was anticipating getting in (a house) at any cost and then letting appreciation in the market handle it in the next year or two," said John Arvanitis, president of Sunrise Vista Mortgage Corp. in Citrus Heights.
"In theory, that's great if appreciation stays at certain levels, but it's not happening anymore."
Edited by Realistbear

Share this post


Link to post
Share on other sites

A friend in the us who happens to be an economist at a university gave me this graph for the Los Angeles metro area.

houseprice20rt.jpg

Wow! That drop off looks exactly like "The Chart" on this webiste will look as it follows the usual pattern of a drop equal to 50% of the preceding spike. Hold onto your hats.........

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.