patrick.net

Shadow buyers only exist because they have been able to save up the vast 3.5% of the purchase price from personal loans, theft, insurance scams, inheritance, bottle returns, and what not. In an intelligent economy of asset sales, the buyer would actually need to show abstinence and means. Here we still have the free home program. Keep adding to the plot. When, even the gardeners are back to being home owners that need gardeners, where is the next wave of buyers? Ask yourself that question.

robertoaribas says

This data is incomplete. What's the transaction volume for those prices? If you can come up with that I will post a chart, and a template in Google Docs, and together we can set the bar for charts ;)

if the transaction volume was low, prices wouldn't be increasing. I suggest you go on over to half.com and buy a cheap used economics book.. come back after you finish the first few chapters. If you took econ before, I don't care, you didn't learn anything real or you wouldn't have made that post.

What if your median prices were really taken from a multimodal distribution. Let's say for [an exaggerated, pedantic] example that houses that last sold for $3M stopped selling for a while, as houses that last sold for $1M were selling for $700K. Then the market for $1M houses selling for $700K dried up, and $3M houses started selling for $2.1M. In that hypothetical situation the median price would have risen from $700K to $2.1M, making it look like boom times were back, right?

Can you demonstrate how the numbers you posted could not be a similar situation? Please refrain from insinuating that I'm stupid or that I need to review basic economics. Trust me, it just makes *you* look bad.

robertoaribas says

RentingForHalfTheCost says

Shadow buyers only exist because they have been able to save up the vast 3.5%

oh, so first you argue that the market is doing bad... when you are PROVEN wrong, you argue that it "should be doing bad, but because of blah blah blah... it isn't..."

Or, you could just say, you were completely full of crap all along?

When did the straw man enter the argument. Might want to look in the mirror there Phoenix boy. I never said it was doing good. Month-over-Month defaults are up. Go back and catch me saying anything else. Do it without the straw-man standing between us. ;)

bmwman91 says

RentingForHalfTheCost says

20% up means a 20% correction is coming when the lies come to roost. Wait for it...

I think you are being too optimistic. Interest rates can still go lower, and you can bet your ass that the 40-year mortgage will become the new normal in the next decade.

That is a valid argument and one of my fears. The free money train speeds up even more. There are two ways this train stops. Fiscal responsibility creeps into the minds of the average person in this country, or we go to war again. Either will be very painful. War sucks, so I hope we get the first, but I wouldn't hold my breath. It hasn't happened in my lifetime yet. This country is still living on borrowed money even after we have seen a hint of the damage it can cause.

100 year mortgages might be a possibility in order to keep Phoenix prices from falling in 2013.

robertoaribas says

Please refrain from insinuating that I'm stupid or that I need to review basic economics. Trust me, it just makes *you* look bad.

your question doesn't imply your stupid, so need to worry about that!!!

There must be a clinical diagnosis for this type of behavior from our always predictable Phoenix Billionaire. I'm no doctor, but I think we have a wild one here. His insults on anyone talking to him seem to match him much better than the intended victim. Sometimes, I have to wonder about his mental stability. Very questionable. Any doctors in the house?

robertoaribas says

Whenever you develop the ability to not be a blithering idiot, I'll be happy to quit insulting your intellect.

Predictable response from you. Hope you find what your after. Pump yourself up and put others down. Still doesn't change a thing about the sorry state of the real estate market in this country. Your insults are old and don't do you any help in credibility. An intelligent person would get that connection.