Is it time to begin to look into housing
Started by notadmin
over 13 years ago
Posts: 3835
Member since: Jul 2008
Discussion about
http://media.bloomberg.com/bb/avfile/News/Surveillance/v7B25BsWZEYU.mp3 Shiller (i LOVE him btw) * structured UE * lack of confidence * 10 year expectation on prices which determine willingness to purchase had been eroding * motive is not investment (nor fear of getting priced out imho) * prices might continue to go down, hence one is paid by doing nothing * gerontocracy's impact on the labor mkt and decreasing real wages And what Sheila Bair told me a month ago "what is the urgency of buying for the young when rates are manipulated lower?"
I can't get that link running, notadmin.
What's this all about, please?
I listened.
Schiller says, "I don't think anything is happening to stimulate the re market"
December 21, 2012 flesh eating Zombies attack leaving few human survivors.
Supply/Demand curve inverts leaving 5th Avenue 4 bedroom penthouses priced at two cans of cat food each and there's still too much inventory.
falco, too many hollywood movies perhaps?
oh, this was another:Why buy now if you're young there's no rush.
The discussion header and bullet points weren't clear.
I think between now and 2018 you have to look at housing as a strong investment class. It will take that long for the banks to unload all their bad mortgages and foreclosures. After that, inventory should be lower, and as population increases, so will demand and prices. I think the next 6 years are going to be the best time to buy. Why wait for the media and pundits to declare "now" you should buy, they are only going to say that once they see a full year or so of rising prices, by then you will have missed all the real gains.
demographics are key. just how much population growth will we have? although we finally seem to be implementing some pro-immigration policies, I don't know how much they'll affect NYC real estate prices in the short term. And the young, according to most reputable reports, have lost a huge amount of ground so they won't likely be forming individual households at nearly a normal rate for quite some time, especially given their student loan debt.
we're looking more and more like Japan daily. a nation of temporary workers without health care or benefits because (at least in the US, my knowledge of the incentives in Japan aren't as strong) that suits the businesses who are pandering to their shareholders.
Student loan debt? Pops and Mops can help them out: http://www.nytimes.com/2012/11/12/business/some-parents-shouldering-student-loans-fall-on-tough-times.html