Comments on: Wednesday’s Numbers http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/ Just another WordPress.com weblog Wed, 18 Nov 2009 06:06:27 +0000 http://wordpress.com/ hourly 1 By: Domus http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1996 Domus Fri, 25 May 2007 16:20:43 +0000 http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1996 No numbers yet, though....what's going on. I thought Rob would be happy to show off its sales numbers. No numbers yet, though….what’s going on. I thought Rob would be happy to show off its sales numbers.

]]> By: jim http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1994 jim Fri, 25 May 2007 14:17:40 +0000 http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1994 Numbers will good for bulls. Numbers will good for bulls.

]]> By: Domus http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1993 Domus Fri, 25 May 2007 06:06:33 +0000 http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1993 Rob, so what's happening tonight? Another over 100% day? More people signing mortgages for a few hundreds thou? Spread the light............. Rob,

so what’s happening tonight? Another over 100% day? More people signing mortgages for a few hundreds thou?

Spread the light………….

]]> By: Johnnyrent http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1992 Johnnyrent Fri, 25 May 2007 05:51:44 +0000 http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1992 Reality Check You say that the city of San Francisco SFH prices are continuing to go up as they are in Vancouver but how do you reconcile this statement with the fact that the average San Francisco SFH home price is actually down 1.8% from last year? The stats are here: http://www.rereport.com/sf/ron/ Median prices in SF are up very moderatly YOY however median prices aren't a particularly good guide. The higher end of the market tends to be stickier on price than the lower end; hence, lower end prices will correct first which can positively influence the median while distorting the overall trend. I agree that suburbs will correct in the GRVD sooner than, say, the Westside. History tells us, however, that the Westside of Vancouver corrects no less in the final analysis than any other part of the GRVD ultimately. Reality Check

You say that the city of San Francisco SFH prices are continuing to go up as they are in Vancouver but how do you reconcile this statement with the fact that the average San Francisco SFH home price is actually down 1.8% from last year? The stats are here: http://www.rereport.com/sf/ron/

Median prices in SF are up very moderatly YOY however median prices aren’t a particularly good guide. The higher end of the market tends to be stickier on price than the lower end; hence, lower end prices will correct first which can positively influence the median while distorting the overall trend.

I agree that suburbs will correct in the GRVD sooner than, say, the Westside. History tells us, however, that the Westside of Vancouver corrects no less in the final analysis than any other part of the GRVD ultimately.

]]> By: /dev/null http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1991 /dev/null Fri, 25 May 2007 05:33:14 +0000 http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1991 No worries, Igor. Jim has already put me in my place rather eloquently. Perhaps Rob could turn on the comment preview feature in Wordpress, which might be helpful to everyone. No worries, Igor. Jim has already put me in my place rather eloquently. Perhaps Rob could turn on the comment preview feature in WordPress, which might be helpful to everyone.

]]> By: IgorD http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1990 IgorD Fri, 25 May 2007 05:21:29 +0000 http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1990 I was too quick to hit the Submit button. My mistake and I am sorry for that. The link to the original post is: http://theroxylandr.wordpress.com/2007/05/24/the-second-stage-of-housing-bust-officially-started/ I was too quick to hit the Submit button. My mistake and I am sorry for that. The link to the original post is:

http://theroxylandr.wordpress.com/2007/05/24/the-second-stage-of-housing-bust-officially-started/

]]> By: jim http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1989 jim Fri, 25 May 2007 04:58:15 +0000 http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1989 /dev/null: Plagarism. sarc.Scary. end sarc. /dev/null: Plagarism. sarc.Scary. end sarc.

]]> By: jim http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1988 jim Fri, 25 May 2007 04:55:51 +0000 http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1988 realitycheck: "In the city of San Francisco prices are still going up just like they will be going up in the city of Vancouver. The suburbs and outlying areas I believe are overpriced and will see a correction." You're half right. realitycheck:

“In the city of San Francisco prices are still going up just like they will be going up in the city of Vancouver. The suburbs and outlying areas I believe are overpriced and will see a correction.”
You’re half right.

]]> By: /dev/null http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1987 /dev/null Fri, 25 May 2007 04:53:30 +0000 http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1987 Thanks, IgorD. That's a very <a href="http://theroxylandr.wordpress.com/2007/05/24/the-second-stage-of-housing-bust-officially-started/" rel="nofollow">insightful</a> analysis you've come up with. Thanks, IgorD. That’s a very insightful analysis you’ve come up with.

]]> By: IgorD http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1986 IgorD Fri, 25 May 2007 04:36:37 +0000 http://rireb.wordpress.com/2007/05/23/wednesdays-numbers/#comment-1986 I am reading this blog with great interest regularly. Here are just some random thoughts on the US housing market. The US housing price is back to July 2005 - 22 months of price appreciation are completely erased. Those homeowners that have 10% equity in their homes just had 100% of their life savings wiped out in one month and now 1% under water on their mortgage. This is massive decline in wealth across the nation, probably in the range of $1 to $2 trillion dollars in just one month. This is already comparable to Nasdaq slump in 2001. It is also reported that fixed year mortgage rates rose at the same time. The debt got more expensive, so forget about refinancing. With massive ARM resets started in April, record gas prices and higher fixed mortgage rates it is going to be an interesting year. The denial phase of US housing slump is probably over. The market should now be moving to recognition, followed by panic and then acceptance (that would be the bottom). I am reading this blog with great interest regularly. Here are just some random thoughts on the US housing market.

The US housing price is back to July 2005 – 22 months of price appreciation are completely erased.

Those homeowners that have 10% equity in their homes just had 100% of their life savings wiped out in one month and now 1% under water on their mortgage.

This is massive decline in wealth across the nation, probably in the range of $1 to $2 trillion dollars in just one month. This is already comparable to Nasdaq slump in 2001.

It is also reported that fixed year mortgage rates rose at the same time. The debt got more expensive, so forget about refinancing. With massive ARM resets started in April, record gas prices and higher fixed mortgage rates it is going to be an interesting year.

The denial phase of US housing slump is probably over. The market should now be moving to recognition, followed by panic and then acceptance (that would be the bottom).

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