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84fiero123
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JAN 08, 10:10 AM
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Something I think no one has mentioned about the stock markets ups and downs.
Stock brokers make money on the trades that they make and recommend their customers make. Whether or not the trade makes money.
So in turn they are constantly recommending that their customers buy, buy, buy,…..sell, sell, sell, ….. Buy, buy, buy.
These guys have been a leading part of the stock markets ups, and downs. The more trades they make, the more money they make, the brokers.
They don’t care if you make money or not. So long as they do.
And also the housing market has a trickle down affect on the rest of the economy because of the shear size of it. It affects us all in one way or another.
Ace hasn’t sold his home yet, why? Because of the housing markets losses. No one is buying for fear of what they buy may go down even further after they buy. Sure there are great deals out there in comparison to what the prices were just a year or 2 ago. But who is to say that these prices will not go down even further.
This thread has been going on for, what 6 months someone said earlier, and the housing market has been going down all this time, still is going down and continues to go down.
So who’s to say just how far the housing market will go down? And bring the economy with it.
Homes are most peoples biggest investment, granted long term for most, but we no longer keep our home from purchase to death like our parent did.
I have owned several homes in my lifetime as have most others here. Moved because of jobs, family, trying to get a bigger better home. Whatever the reason.
KB Home Posts Wider 4Q Loss

Tuesday January 8, 9:29 AM EST
LOS ANGELES (AP) — KB Home, one of the nation's largest homebuilders, said Tuesday its fiscal fourth-quarter loss swelled as ongoing housing market woes led to fewer home sales and lower revenue, prompting the company to book charges to write down unsold inventory and for a tax allowance.
Chief Executive Jeffrey Mezger warned that 2008 "will be another tough year for the homebuilding industry."
KB Home shares fell more than 2 percent in premarket trading.
For the quarter ended Nov. 30, the company posted a loss of $772.7 million, or $9.99 per share, compared with a loss of $49.6 million, or 64 cents per share, in the year-ago period.
The Los Angeles-based builder took a pretax charge of $403.4 million to write down the value of unsold inventory and book losses from joint ventures. The company also booked a $514.2 million tax valuation allowance that it can use to offset future profits. Excluding the tax allowance, its loss was $399 million compared with $171.1 million last year.
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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.
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84Bill
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JAN 08, 10:16 AM
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| quote | Originally posted by 84fiero123:
Something I think no one has mentioned about the stock markets ups and downs.
Stock brokers make money on the trades that they make and recommend their customers make. Whether or not the trade makes money.
So in turn they are constantly recommending that their customers buy, buy, buy,…..sell, sell, sell, ….. Buy, buy, buy.
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You cant reveal the secrets of the club if you aren't a member of it. If you do you will be called among other things a bitter envious socialist sympathizer who is jealous of another's monie.
I happen to know you aren't any of that. The truth has set you free and the secret club doesnt like people who are free.. and very smart. 
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Pyrthian
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JAN 08, 11:04 AM
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fear not - the housing crunch CANNOT last. basic rule of population ensures this.
and, if we are smart (lol - right) this is a fine oppurtunity to establish laws to squelch urban sprawl, while it is halted anyways.
urban sprawl is a HUGE burden on infrastructure & energy use.
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aceman
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JAN 08, 11:13 AM
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Mr Bitter,
Ace has not sold his house because Ace's house is not on the market at this time. Winter is a poor time to try to sell a house in any market so I'm spending the next few months piddling around in the basement and other rooms updating them a bit.
When I do sell, I'm listing at about $185,000. This is about $50,000 less than the highest priced comprable house in the area and about $5,000 less than the lowest comprable house on the market in the area.
My house is Tax/Market Valued at $235,000. I'm realistic. I bought 9 years ago at $105,000 and If I sell for $175,000, I'll walk away with a tidy profit.
Houses shouldn't double in 7 years. They were around here. I'm selling at a very reasonable price.
People are listing their homes at unreasonable prices and not selling them. Why list at this price???? They bought it 2-4 years ago at an unreasonable price and can't list any lower without getting burned for their mistake. They should have been renting 2-4 years ago and this housing market correction would have been sooner and "easier"
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84fiero123
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JAN 08, 11:24 AM
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| quote | Originally posted by aceman:
Mr Bitter,
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More like,
Mr. Realist.
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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.
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aceman
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JAN 08, 11:48 AM
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| quote | Originally posted by 84fiero123:
More like,
Mr. Realist.
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Nahhh, We got about 4-5 members here in this thread that like the "Mr. Bitter" nickname. We'll stick with that.
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84Bill
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JAN 08, 11:52 AM
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Home sales sink, outlook darkens
Realtors now see biggest drop in home values starting this year; forecast for price rebound pushed back to '09.
| quote | Originally posted by Mr. Space:
My house is Tax/Market Valued at $235,000. I'm realistic. I bought 9 years ago at $105,000 and If I sell for $175,000, I'll walk away with a tidy profit.
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I hope and pray that you get exactly what you deserve.
I know how very hard you worked for it and it would be such a shame to see you suffer with the burdens for too long... Gosh... Please let us know if we can offer up some sympathy should anything terrible happen.
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aceman
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JAN 08, 11:59 AM
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Oh look Bill! That article is just showing the market correction. I'm already 20% below market value and will still make a tidy profit.
Sucks for those people that bought their houses at an over-inflated price and need to sell now.
Those drugs you take really mess with your ability to understand and comprehend things, don't they.
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84fiero123
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JAN 08, 12:06 PM
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Realtors are just like stock brokers. They make a profit on every sale, whether or not you make a profit.
Granted they would like to get the best price they can for your home,
because they make more money.
But they could care less if you make a huge profit.
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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.
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84fiero123
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JAN 08, 12:10 PM
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How they got housing wrong
Experts thought 2007 would bring a real estate recovery - not the worst collapse on record. What does that say about forecasts of a turnaround next year?
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By Chris Isidore, CNNMoney.com senior writer
December 28 2007: 11:09 AM EST

Housing forecasts proved too optimistic in 2007, and the experts making predictions of a turnaround in 2008 say those estimates are more difficult than ever this time around.

Current Mortgage Rates
Type Overall avgs

30 yr fixed mtg 5.56%
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5/1 ARM 5.33%
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Special Reportfull coverage

Bush on housing: Congress should do more
Manhattan home prices: Still crazy
How they got housing wrong
Home prices post record decline
NEW YORK (CNNMoney.com) -- Before you put much hope in forecasts for a 2008 rebound in the battered housing market, consider this: A year ago at this time many top economists were looking for that recovery to begin in 2007.
Instead, the year saw historic declines in nearly every measure of housing strength and home building, and left a trail of predictions from some of the nation's top economists that look - at best - foolish.
http://money.cnn.com/2007/1...y/housing_forecasts/
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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.
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