patrick.net

Seems in prior years they disputed prices would fall. When prices started to fall, they called it a "soft landing". Later she stated she needed a new moniker to describe the downturn.. or some would call the bubble.

What a fucking dingbat...a real poster child of REA in California. You can pretty much find plenty of fu'ed comments by CAR on the internet.

http://realestaterecord.blogspot.com/2007/10/leslie-appleton-young.html

February 2007: Bay Area housing strongest in state
Overall, sales of existing homes will decline 7 percent across California this year, Appleton-Young told local business leaders Thursday at the annual North Bay Economic Outlook Conference in Rohnert Park. But the downturn is tapering off, she said, compared to last year's 23 percent decline in sales."The worst is over," she said.

http://legacy.signonsandiego.com/news/business/20051215-9999-1b15outlook.html

2005 Pros see no doom, gloom in slowdown

Several speakers at the conference addressed the use of new lending products that had enabled middle-wage consumers to attain financing for high-priced homes. Many "creative" mortgage loans have low, introductory payments that adjust upward with prevailing interest rates after several years. In general, they shift risk from the lender to the borrower.

Anfuso said fears that such loans would trigger defaults were misplaced. Many borrowers "are going up the wage scale" and will be able to handle rising payments, he said.

Some small localities may see a bump if FB IPO's next year, but I am not seeing any economic basis for an increase in prices on any appreciable scale. The CAR will say and do anything to try to keep the gravy train rolling. Unless banks go back to doling out loans to anyone and everyone with no credit, prices aren't going anywhere but down.

bmwman91 says

Some small localities may see a bump if FB IPO's next year

When this happened...

"On October 24, 2007, Microsoft announced that it had purchased a 1.6% share of Facebook for $240 million, giving Facebook a total implied value of around $15 billion"

For new empoyees after Oct 2007, it inflated the strike price of employee options, making it very expensive to exercise their option.

Will know more when they file their S-1.

The economy doesn't determine real estate prices, people do. Whether they choose to price their homes at what people can afford is up to them.

The CAR will say anything to fix the market. Lying about future prices is the most common tactic there is to get people buying. They've been lying about future prices every year since '06.

They've been saying that for 5 years now.
I wouldn't sweat it.

John McCain was on Imus this morning, talking about the travesty of falling RE prices, and how important it is that we prop up artificial prices, so the RE whores can keep their appearances up.

In order to make a living, You only need to fool some of the people some of the time .
LOOK at the BIG picture ! Why did prices explode ? WHY are they coming back down ?

They are using scare tactics.

APOCALYPSEFUCK is Tony Manero says

Yes, of course, RE prices will treble in 2012 and if you fail to buy now, your kids will be hunter-gatherers, so if I don't see your name on this P&S, I guess I can assume you hate your kids and want them to freeze in the dark.
We've never seen this tactic before.
One of the few new pleasures of the coming Cannibal Anarchy will be the license to eat Realtors®.

That is exactly what I had in mind. My son freezing in the dark. How did you know?

The Fed is doing everything they can to prop up housing via subsidies and insanely low interest rates. I think they are trying to inflate their way out of the housing mess so that todays real estate prices seem more reasonable. I believe that the Feds actions wrt lower interest rates will prop up the housing market to a certain extent but in the end the lack of jobs (less demand), large inventory of unsold homes, will offset the inflationary Fed policy and lead to further declines in over priced markets. Also, when the Fed can no longer sustain inflationary monetary policy the rise in interest rates at least two years out will put even more downward pressure on housing.

StoutFiles says

They've been lying about future prices every year since '06.

On a brighter note, if they have been lying since 2006, this would imply they were telling the truth in 2005.

If you say the housing market will recover every year, eventually you'll get it right and then you can say, "I told you so!".

very unlikely for housing prices to go up. WSJ forecasts price drops further, and I think they are understating it.

http://online.wsj.com/article/SB10001424053111904194604576583093513770536.html?mod=real_estate_newsreel

Unless government starts paying you to buy houses it won't be going up. Supply is high, demand is low, prices are still prohibitive for many, unemployment and confidence is peaking. On top of that you have an entire generation of folks who were priced out via bubble during their golden years so they can't go into 30 year loans since they are getting too old.

If free market stays around without government support housing will come down to reasonable levels correlated to cost of production and that of affordability. Right now, for most part it's in balloon la la land.

If I were to glean anything from this, I'd say there could be "some" truth to this... only because the report is for the entire state of California and not the overpriced coastal areas. According to the report home prices are to rise to $296,000. At last check there are ZERO decent homes anywhere near the Bay Area that are priced that low. The increase in prices- if this is to be believed- would be coming from the inland areas, not places like the BA.

The easiest prediction to make in real estate is what the '_____' Association of Realtors is going to say about buying a home in the upcoming year.

"You should buy now because prices are going to rise due to the solid fundamentals..."
followed by a lack of any real logical arguments aside from interest rates and lower than bubble prices.

You'd never expect them to say anything different, so how can you take any they say seriously?

TechGromit says

StoutFiles says

They've been lying about future prices every year since '06.

On a brighter note, if they have been lying since 2006, this would imply they were telling the truth in 2005.

If you say the housing market will recover every year, eventually you'll get it right and then you can say, "I told you so!".

Pretty much the whole RE industry went on a fritz around 1998-99 in the Bay Area. When they realized they could minting $30-100K or more in commission per each transaction, all the denial regarding a bubble started even when affordability tanked below 15% and then 10%. Yes, they been lying for the past 12 yrs, and not just when the kink in prices started downwards in 2005.

It's too bad we can not hold those ad agencies accountable for their Deception.
Has anyone ever heard "I AM A REAL ESTATE AGENT. DON'T BUY" !!! l.o.l.
I SELL USED CARS !!! DON'T BUY !
I AM WITH THE GOV'T !!! DON'T TRUST ME !!!
WANT SOME CANDY ???

A diplomat is someone who can tell you to go to hell in such a way that you will look forward to the trip.

Real Estate Prices to rise next year???

For how many years have they been saying this now?

Yep makes sense. RE will go up next year. Even Bernanke says it doesn't look good. I mean c'mon that guys is never honest,so things could get much worse and that is recipe for price increase next year. LOL.

zzyzzx says

Real Estate Prices to rise next year???

For how many years have they been saying this now?

they've never actually said prices will go lower. ever. worst case is flat prices.

I would be very surprised if anybody takes what a realtor- spokesperson says about the housing markert seriously. It is like asking a used car salesman "is this a good car?"