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With prices projected to fall over the next decade, how could returning to peak be possible?
How could anything be real after this
http://www.youtube.com/watch?feature=player_detailpage&v=7dlhhfpFBTk#t=158s
House prices may not return to peak until 2023
What a stupid thing to write. As if housing should naturally return to peak. If housing returns to peak this time lots of people should go to jail. And if crooks weren't in office back then many would have.
Shills and RE pumpers would have to mislead and convince the general public that RE never depreciates , then generate a sense of false optimisim for the market...
If you read this blog you can see that mentality already exists even though there isn't much tolerance for shills here. All that's needed is easy financing and an official tolerance for mortgage fraud. Greed is built-in. No need for pumpers.
If the federal reserve is allowed to continue to debase our money, prices may recover by 2075, but only because the dollar will be worth that much less. To give an example of what they've done to the dollar since the fed was created in 1913, today's dollar is worth about 1/20 of its 1913 value. But, if the federal reserve and its philosophy are canned, house prices will be the same in 2075 as they were in 2000. As I understand, house prices were constant from 1776 to 1913.
If the federal reserve is allowed to continue to debase our money, prices may recover by 2075, but only because the dollar will be worth that much less. To give an example of what they've done to the dollar since the fed was created in 1913, today's dollar is worth about 1/20 of its 1913 value. But, if the federal reserve and its philosophy are canned, house prices will be the same in 2075 as they were in 2000. As I understand, house prices were constant from 1776 to 1913.
Population increase and zoning along with higher fuel prices will drive prices higher long before 2075.
What I meant in my comment was that prices may recover to peak bubble values by 2075, if the fed continues debasing the currency.
What I meant in my comment was that prices may recover to peak bubble values by 2075, if the fed continues debasing the currency.
It's interesting how many much weight the unknowing put on currency. I guess the belief is rooted in disdain for Government. Both gold and real estate have dropped and risen despite what was done to the currency. If only it were that simple.
Population increase and zoning along with higher fuel prices will drive prices higher long before 2075.
Who cares what happens in 2075 anyway. By then I'll be on Social Security livin large with my teenage girlfriends.
Historically, an average house is worth about 100 ounces of gold. However, do to current uncertainty in currency markets, there is a lot of speculation built into the price of gold. So its tough to say what a house is worth in fiat.
A house is worth construction cost plus margin less depreciation. It isn't that difficult.
It is for those in remorse.
It is for those in remorse.
LOL..... well... there are alot of them. Think of the tens of millions of people who paid a grossly inflated price for what is always a depreciating asset. Basically anyone who bought a house from 1998-2012.
Yes, I know it is astonishing. The more I look around the more I realise how utterly fucked up Americans are from denial to greed to simple mental illness.
"Yes, I know it is astonishing. The more I look around the more I realise how utterly fucked up Americans are from denial to greed to simple mental illness."
Its not entirely their fault though. The NAR, the FED, the whole REIC is a massive force which deploys propaganda constantly, lobbys and influences our politicians, our laws. Hell they have most of America convinced that going into debt to live in a house is The American Dream. LMAO
Hell they have most of America convinced that going into debt to live in a house is The American Dream. LMAO
You know you have to laugh because it is so bizarre and hideous there is no alternative.
To give an example of what they've done to the dollar since the fed was created in 1913, today's dollar is worth about 1/20 of its 1913 value.
Everything else was 1/20 the value in 1913. The only thing that matters is the relationship of labor to goods. Money is only a place marker. The number printed on a piece of paper is meaningless as long as the relationship between labor and goods stays the same.
A house is worth construction cost plus margin less depreciation. It isn't that difficult.
I've found very few people understand, a house is merely an improvement upon the land. The improvement can depreciate to the point that it actually devalues the land that it's on.
“If this prediction turns out to be true, I will be holding housing worth $3.5 million dollars in 2023,†Exactly my brother, exactly! We Realtors will stride the earth with giant footsteps, calling all the shots, getting all the college coeds (wink wink eh Prof. Roberto), all because we went as DEEP INTO DEBT AS WE POSSIBLY COULD to buy buy buy houses NOW NOW NOW. 3.5 million will buy a lot of Scorpion antidote if you know what I mean, nudge nudge HAZOOOOBI!!!
This is such a positive prediction, I feel like dancing, somebody play some salsa music!!!!
BAZINGACHINGA!
Here's a graph that puts the "return to the peak in 2023" in perspective. It shows a graph of the Case Shiller 10-city index (CUS) since the peak (in black), prices on the CME Case Shiller CUS futures (in green), and "projections" from the Nov 2016 mid-market futures prices assuming 3 or 4% HPA. The graph may be useful in showing a) how far prices (or the CS index) have fallen, b) how much we've bounced, and c) how far we'd have to climb to get back to the previous peak.
I have no idea when (or if ) we'll get there, but the futures prices indidate that some traders think that we'll be about halfway there by Nov 2016.
http://money.cnn.com/2012/09/26/real_estate/home-prices-peak/index.html?iid=HP_LN