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Housing Recovery....... Hmmmmm.

By Call it Crazy   Follow   Tue, 24 Jul 2012, 3:55pm   3,525 views   39 comments
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I wonder how many of these "applications" actually turn in to mortgage approvals and make it all the way to a closing????

This chart is for "purchase" applications and doesn't include refinance applications.....

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1. Call it Crazy Follow Befriend 229 threads 2,786 comments

   1   3:55pm Tue 24 Jul 2012   Share   Quote   Permalink   Like   Dislike (2)

2. Call it Crazy Follow Befriend 229 threads 2,786 comments

   2   4:08pm Tue 24 Jul 2012   Share   Quote   Permalink   Like   Dislike (2)   OK, maybe the recovery will be in New Construction, right.... everybody wants that "new house" smell... right??? Maybe not..........

3. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

   3   7:06pm Tue 24 Jul 2012   Share   Quote   Permalink   Like   Dislike   Protected   There isn't going to be any "recovery" to bubble levels. Housing will return to it's historic trend of keeping pace with inflation.

4. Call it Crazy Follow Befriend 229 threads 2,786 comments

   4   8:25pm Tue 24 Jul 2012   Share   Quote   Permalink   Like   Dislike (2)   wthrfrk80 says There isn't going to be any "recovery" to bubble levels. Housing will return to it's historic trend of keeping pace with inflation. What do you think the odds are of housing falling back to the ratios of the past which is 2-1/2 times income??

5. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

   5   9:33pm Tue 24 Jul 2012   Share   Quote   Permalink   Like   Dislike   Protected   Call it Crazy says What do you think the odds are of housing falling back to the ratios of the past which is 2-1/2 times income?? Pretty good. At least nationally. See the following link: http://www.multpl.com/case-shiller-home-price-index-inflation-adjusted/ "Your local market may vary."

6. TMAC54 Follow Befriend (9) 70 threads 930 comments San Leandro, CA

   6   9:50pm Tue 24 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   Call it Crazy says What do you think the odds are of housing falling back to the ratios of the past which is 2-1/2 times income?? Are you under the impression that the 2.5 ratio is set in stone by any concept or entity other than buyers ? The Anxious & the Rich buyers are the present influence in the real estate market. Next quarter they will also be cussing. NO JOBS (buyers) = NO VALUE Sellers, Brokers, Banks, Gubmint, News Media, etc. ALL benefit by convincing us that NOW IS THE BEST TIME TO BUY !!! They are all too overwhelmed with greed to consider future values. They want that MONEY before the next drop !!!

7. Call it Crazy Follow Befriend 229 threads 2,786 comments

   7   6:37am Wed 25 Jul 2012   Share   Quote   Permalink   Like   Dislike (2)   TMAC54 says Are you under the impression that the 2.5 ratio is set in stone by any concept or entity other than buyers ? The Anxious & the Rich buyers are the present influence in the real estate market. Next quarter they will also be cussing. No, but that is what it was approximately when there was only one wage earner in the family. People bought what they could afford (ie: 25% of monthly income for a payment). Now with job losses and uncertainty with keeping jobs, and add that many have lost jobs and are back to one earner households, maybe prices will go back to 2-1/2 income.....

8. HEY YOU Follow Befriend (4) 334 threads 922 comments

   8   4:56pm Wed 25 Jul 2012   Share   Quote   Permalink   Like (2)   Dislike   Call it Crazy, Can I buy that new house smell in a spray bottle? This rental needs a remodel.

9. Goran_K Follow Befriend (4) 25 threads 1,523 comments Laguna Beach, CA Premium

   9   6:03pm Wed 25 Jul 2012   Share   Quote   Permalink   Like   Dislike   Protected   This is exactly why I question any so-called claims of a "recovery". Prices dropped for 2 years straight after the gov't tried to inflate the market with props, and housing bulls were calling the market "flat". Yet prices rise for 4-5 months, and they care calling a recovery. It simply doesn't make any logical sense.

10. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    10   6:10pm Wed 25 Jul 2012   Share   Quote   Permalink   Like   Dislike   Protected   RE is not going to "recover" to the ridiculous bubble prices. If it does, it should be called "resumption of insanity", not "recovery."

11. thomaswong.1986 Follow Befriend 15 threads 2,851 comments

    11   6:50pm Wed 25 Jul 2012   Share   Quote   Permalink   Like   Dislike   wthrfrk80 says RE is not going to "recover" to the ridiculous bubble prices. If it does, it should be called "resumption of insanity", not "recovery." Someone needs to tell the media .. they are still drinking the kool aid.

12. bmwman91 Follow Befriend (7) 37 threads 1,541 comments Mountain View, CA bmwman91's website Premium

    12   7:02pm Wed 25 Jul 2012   Share   Quote   Permalink   Like (2)   Dislike   Protected   thomaswong.1986 says wthrfrk80 says RE is not going to "recover" to the ridiculous bubble prices. If it does, it should be called "resumption of insanity", not "recovery." Someone needs to tell the media .. they are still drinking the kool aid. Seriously. The SJ Murky News continually references a housing price recovery. It's just like describing a reformed heroin addict recovering to their previous use habits.

13. thomaswong.1986 Follow Befriend 15 threads 2,851 comments

    13   7:11pm Wed 25 Jul 2012   Share   Quote   Permalink   Like   Dislike   bmwman91 says Seriously. The SJ Murky News continually references a housing price recovery. It's just like describing a reformed heroin addict recovering to their previous use habits. yep! their business section is just ridiculous.

14. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    14   7:28pm Wed 25 Jul 2012   Share   Quote   Permalink   Like   Dislike   Protected   bmwman91 says It's just like describing a reformed heroin addict recovering to their previous use habits. +1

15. Call it Crazy Follow Befriend 229 threads 2,786 comments

    15   8:18pm Wed 25 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike (2)   HEY YOU says Can I buy that new house smell in a spray bottle? This rental needs a remodel. Hey, that can be a new business for you... New House Spray, turns rotten, moldy and old REO's smelling like NEW!!!

16. Call it Crazy Follow Befriend 229 threads 2,786 comments

    16   8:24pm Wed 25 Jul 2012   Share   Quote   Permalink   Like   Dislike (2)   New homes sales drop 8.4% in June.... there goes the Spring Bounce.... * Recovery???? Ha Ha Ha

17. bubblesitter Follow Befriend (5) 10 threads 2,329 comments

    17   2:21pm Thu 26 Jul 2012   Share   Quote   Permalink   Like   Dislike   Crazy,where is the above graph pulled from?

18. Call it Crazy Follow Befriend 229 threads 2,786 comments

    18   6:09pm Thu 26 Jul 2012   Share   Quote   Permalink   Like   Dislike (2)   bubblesitter says Crazy,where is the above graph pulled from? My Butt, where else.... Only kidding..... Here's the link: http://www.zerohedge.com/news/new-home-sales-miss-most-20-months

19. BoomAndBustCycle Follow Befriend 28 threads 351 comments

    19   6:48pm Thu 26 Jul 2012   Share   Quote   Permalink   Like   Dislike   Call it Crazy says What do you think the odds are of housing falling back to the ratios of the past which is 2-1/2 times income?? The last time homes were 2 1/2 times incomes.. Interest rates were over 8%... The financial world doesn't operate in a vacuum. Interest rates and rental parity are going to be the determining factor in home prices for years to come. You can't buy a cheap house from someone whose underwater and can't sell it to you! I've said it before.. We are officially in gridlock. And the lower prices drop.. the more jammed up the inventory will become. So waiting for more dramatic price drops is not right around the corner. If you want to wait 10 years to buy a home..maybe you'll get bargain compared to wages at that time. Maybe not.

20. BoomAndBustCycle Follow Befriend 28 threads 351 comments

    20   6:52pm Thu 26 Jul 2012   Share   Quote   Permalink   Like   Dislike   Goran_K says Yet prices rise for 4-5 months, and they care calling a recovery. That's because if they were all doom and gloom like you bloggers.. It would be a self-fulfilling prophecy of no home sales.

21. Goran_K Follow Befriend (4) 25 threads 1,523 comments Laguna Beach, CA Premium

    21   9:52pm Thu 26 Jul 2012   Share   Quote   Permalink   Like   Dislike   Protected   BoomAndBustCycle says That's because if they were all doom and gloom like you bloggers.. It would be a self-fulfilling prophecy of no home sales. Yeah, it's personal opinion and "doom and gloom" that caused the bubble to burst. Maybe more happy thoughts could re-inflate it.

22. New Renter Follow Befriend (3) 13 threads 2,227 comments San Jose, CA Premium

    22   10:30pm Thu 26 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   HEY YOU says Call it Crazy, Can I buy that new house smell in a spray bottle? This rental needs a remodel. Paint and carpet ought to do the trick

23. jvolstad Follow Befriend (4) 996 threads 1,128 comments San Antonio, TX jvolstad's website

    23   4:41pm Sun 29 Jul 2012   Share   Quote   Permalink   Like   Dislike   All these new house sales, are these all with at least 20% down? If not, the mortgages should not be approved.

24. iwog Follow Befriend (48) 274 threads 12,576 comments 47 male Lafayette, CA Premium

    24   5:56pm Sun 29 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   Call it Crazy says New homes sales drop 8.4% in June.... there goes the Spring Bounce.... Don't tell anyone in Northern California "there goes the spring bounce." There's lots of data out there and some of it isn't really open to interpretation. This one for example:

25. robertoaribas Follow Befriend (23) 55 threads 3,825 comments Scottsdale, AZ robertoaribas's website

    25   6:16pm Sun 29 Jul 2012   Share   Quote   Permalink   Like   Dislike   the new home sales number is given with +/-15% for later revisions.. I don't really think new home sales mean much in a modern metropolitan area. New homes are almost always way out in the boonies, and with gas between 3 and 4 dollars a gallon and long traffic delays to work, you'd have to be crazy to even look at a new home today. Paint and fix up a better located home...

26. Call it Crazy Follow Befriend 229 threads 2,786 comments

    26   4:05pm Mon 30 Jul 2012   Share   Quote   Permalink   Like   Dislike (1)   iwog says Don't tell anyone in Northern California "there goes the spring bounce." There's lots of data out there and some of it isn't really open to interpretation. This one for example: I love how you search out a single county to use as a contrary point instead of looking at the national picture......

27. APOCALYPSEFUCK is Shostakovich Follow Befriend (28) 171 threads 4,221 comments Premium

    27   4:23pm Mon 30 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   Anything built by branded home builder since the 1920s is a disposable piece of shit. Anything built since 1980 is probably crumbling by now.

28. JodyChunder Follow Befriend (3) 16 threads 1,379 comments Victorville, CA Premium

    28   4:31pm Mon 30 Jul 2012   Share   Quote   Permalink   Like   Dislike   Protected   TMAC54 says The Anxious & the Rich NEW rich, which invariably piss it away.

29. JodyChunder Follow Befriend (3) 16 threads 1,379 comments Victorville, CA Premium

    29   4:31pm Mon 30 Jul 2012   Share   Quote   Permalink   Like   Dislike   Protected   APOCALYPSEFUCK is Shostakovich says Anything built since 1980 is probably crumbling by now. Totally disagree with this.

30. iwog Follow Befriend (48) 274 threads 12,576 comments 47 male Lafayette, CA Premium

    30   5:29pm Mon 30 Jul 2012   Share   Quote   Permalink   Like   Dislike   Protected   Call it Crazy says I love how you search out a single county to use as a contrary point instead of looking at the national picture...... The national picture comes out tomorrow when Case-Shiller is released. It's going to show sharp increases in California prices and increases throughout most of the country. I'm writing this on Monday so either I'm psychic with powers to tell the future, or I do actually have a little insight into the market. What's your prediction?

31. robertoaribas Follow Befriend (23) 55 threads 3,825 comments Scottsdale, AZ robertoaribas's website

    31   5:33pm Mon 30 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   iwog says I'm writing this on Monday so either I'm psychic Sometimes Irony can be so Ironic...

32. Call it Crazy Follow Befriend 229 threads 2,786 comments

    32   7:39pm Mon 30 Jul 2012   Share   Quote   Permalink   Like   Dislike (1)   iwog says What's your prediction? My guess... up in CA and AZ due to "Spring Bounce" and mini bubbles but down in most other areas......

33. TMAC54 Follow Befriend (9) 70 threads 930 comments San Leandro, CA

    33   10:40pm Mon 30 Jul 2012   Share   Quote   Permalink   Like (3)   Dislike   BoomAndBustCycle says Goran_K says Yet prices rise for 4-5 months, and they care calling a recovery. That's because if they were all doom and gloom like you bloggers.. It would be a self-fulfilling prophecy of no home sales. Home prices are NOT rising without artificial gubmint stimulus. So let the anxious buyers blot up some of the excess. It will further delay a return to normal but it will take the edge off some of those 1%.ers BUYERS MAKE VALUE ! Not Gubmint.

34. Clint Follow Befriend 1 comments

    34   5:49am Tue 31 Jul 2012   Share   Quote   Permalink   Like   Dislike   Hmmm ... financially speaking, President Clinton was hitting home-runs in his second term!

35. Buster Follow Befriend (7) 22 threads 325 comments

    35   6:02am Tue 31 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   Then tax less and spend more GOP/Bush got into office. Read it and weep. Clint says Hmmm ... financially speaking, President Clinton was hitting home-runs in his second term!

36. Buster Follow Befriend (7) 22 threads 325 comments

    36   6:02am Tue 31 Jul 2012   Share   Quote   Permalink   Like   Dislike   Two stupid 3 TRILLION dollar wars has not helped either.

37. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    37   6:55am Tue 31 Jul 2012   Share   Quote   Permalink   Like   Dislike   Protected   Elmo forgot to adjust for inflation, so his chart is meaningless.

38. CaptainShuddup Follow Befriend (1) 250 threads 4,758 comments

    38   7:20am Tue 31 Jul 2012   Share   Quote   Permalink   Like   Dislike (2)   freak80 says Elmo forgot to adjust for inflation, so his chart is meaningless. What adjust for inflation? That one drives me nuts. When someone talks about a 10 cent hamburger, fry and coke, circa 1932. DO I really need it adjusted for inflation? For starters if I was told a hamburger meal cost $7.99 in 1932, that would just sound nuts. Knowing that a hamburger meal cost me $7.99 now, then I can assume inflation adjustment by curve from ten cents to $7.99. Why not deflate for inflation? A Hamburger meal cost 10cents in 1932 dollars. All I know, "inflation adjusted" was never ever once considered, until the Keynesian economic system started failing. Coincidence? I think not.

39. Dan8267 Follow Befriend (16) 769 threads 7,714 comments Boca Raton, FL Premium

    39   12:18pm Tue 31 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   TMAC54 says Awesome. Couldn't have said it better myself. freak80 says Elmo forgot to adjust for inflation, so his chart is meaningless. You completely misread the chart. Inflation is irrelevant as it does not affect the ratio of the red and black bars, which is the whole point of the graph.