Comments on: Is the housing market performing “as expected”? http://raincityguide.com/2008/11/26/is-the-housing-market-performing-as-expected/ Seattle's Leading Resource for Real Estate Information Sat, 21 Nov 2009 06:01:18 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Kary L. Krismer http://raincityguide.com/2008/11/26/is-the-housing-market-performing-as-expected/#comment-329667 Kary L. Krismer Tue, 02 Dec 2008 17:14:52 +0000 http://raincityguide.com/?p=3551#comment-329667 I think what Bernanke was doing was trying to avoid the mistakes of Ford/Carter where the Fed clamped down on (what I consider non-existent) inflation, pushing the economy deeper into recession. What Bernanke didn't foresee was the credit crisis. It's rather ironic because in both situations we probably would have been better off with more inflation. I think what Bernanke was doing was trying to avoid the mistakes of Ford/Carter where the Fed clamped down on (what I consider non-existent) inflation, pushing the economy deeper into recession. What Bernanke didn’t foresee was the credit crisis. It’s rather ironic because in both situations we probably would have been better off with more inflation.

]]> By: ARDELL http://raincityguide.com/2008/11/26/is-the-housing-market-performing-as-expected/#comment-329665 ARDELL Tue, 02 Dec 2008 17:02:21 +0000 http://raincityguide.com/?p=3551#comment-329665 I blame Bernanke for pretty much everything. His penchant for reversing Greenspan also reversed the Country. He didn't want to put his finger in the dike when Greenspan removed his finger. He wanted the chips to fall where they may...now we're knee deep in chips. Not neck deep...but knee deep for sure. I blame Bernanke for pretty much everything. His penchant for reversing Greenspan also reversed the Country. He didn’t want to put his finger in the dike when Greenspan removed his finger. He wanted the chips to fall where they may…now we’re knee deep in chips. Not neck deep…but knee deep for sure.

]]> By: Kary L. Krismer http://raincityguide.com/2008/11/26/is-the-housing-market-performing-as-expected/#comment-329663 Kary L. Krismer Tue, 02 Dec 2008 16:58:21 +0000 http://raincityguide.com/?p=3551#comment-329663 Bernanke will be in place possibly through Obama's first entire term, or at least most of it (unless I'm forgetting how long he's been in place). He's not a cabinet official. Bernanke will be in place possibly through Obama’s first entire term, or at least most of it (unless I’m forgetting how long he’s been in place). He’s not a cabinet official.

]]> By: ARDELL http://raincityguide.com/2008/11/26/is-the-housing-market-performing-as-expected/#comment-329662 ARDELL Tue, 02 Dec 2008 16:49:51 +0000 http://raincityguide.com/?p=3551#comment-329662 I keep thinking how lucky Obama is going to be a few years from now, if he can take the credit for things getting better. He certainly won't get the blame if things get worse. Paulson and Bernanke just have to go. There's no way they can bail themselves out of this hole. I keep thinking how lucky Obama is going to be a few years from now, if he can take the credit for things getting better. He certainly won’t get the blame if things get worse. Paulson and Bernanke just have to go. There’s no way they can bail themselves out of this hole.

]]> By: Kary L. Krismer http://raincityguide.com/2008/11/26/is-the-housing-market-performing-as-expected/#comment-329655 Kary L. Krismer Tue, 02 Dec 2008 16:29:39 +0000 http://raincityguide.com/?p=3551#comment-329655 Fair point. Also, not entirely Chicken Little when he refuses to publicly say what he sees as the potential downside because he thinks that scenario is so dire. Chicken Little didn't run around yelling: "Something bad is happening, but it's so bad I'm not going to tell you what will happen!" But that's not all that I have a problem with. It's his erratic behavior since that I mainly have a problem with. Fair point. Also, not entirely Chicken Little when he refuses to publicly say what he sees as the potential downside because he thinks that scenario is so dire. Chicken Little didn’t run around yelling: “Something bad is happening, but it’s so bad I’m not going to tell you what will happen!”

But that’s not all that I have a problem with. It’s his erratic behavior since that I mainly have a problem with.

]]> By: ARDELL http://raincityguide.com/2008/11/26/is-the-housing-market-performing-as-expected/#comment-329653 ARDELL Tue, 02 Dec 2008 16:18:52 +0000 http://raincityguide.com/?p=3551#comment-329653 Kary, Isn't it only "a Chicken Little" if the sky ISN'T falling? Kary,

Isn’t it only “a Chicken Little” if the sky ISN’T falling?

]]> By: Kary L. Krismer http://raincityguide.com/2008/11/26/is-the-housing-market-performing-as-expected/#comment-329652 Kary L. Krismer Tue, 02 Dec 2008 16:16:37 +0000 http://raincityguide.com/?p=3551#comment-329652 The buyers by definition would be less nervous, because they're in the market. It's the non-buyers that are the problem. Most people have little confidence in the economy. Quite frankly, I don't blame the non-buyers. I went off on Treasury Secretary Paulson over in P-I land recently. He's worse than Chicken Little. It's not his yelling the sky is falling I have a problem with, it's his subsequent running around like a chicken with his head cut off I have a problem with. It just doesn't result in confidence--it destroys confidence. In my piece I blamed him for the grim November sales figures. I was looking for a place to buy during the August, 2007 mess. I don't know that I would have been during the October, 2008 mess. I probably wouldn't have been. Thankfully Paulson's reign of terror is about to come to an end, and none too soon. The buyers by definition would be less nervous, because they’re in the market. It’s the non-buyers that are the problem. Most people have little confidence in the economy.

Quite frankly, I don’t blame the non-buyers. I went off on Treasury Secretary Paulson over in P-I land recently. He’s worse than Chicken Little. It’s not his yelling the sky is falling I have a problem with, it’s his subsequent running around like a chicken with his head cut off I have a problem with. It just doesn’t result in confidence–it destroys confidence.

In my piece I blamed him for the grim November sales figures. I was looking for a place to buy during the August, 2007 mess. I don’t know that I would have been during the October, 2008 mess. I probably wouldn’t have been.

Thankfully Paulson’s reign of terror is about to come to an end, and none too soon.

]]> By: ARDELL http://raincityguide.com/2008/11/26/is-the-housing-market-performing-as-expected/#comment-329650 ARDELL Tue, 02 Dec 2008 15:50:33 +0000 http://raincityguide.com/?p=3551#comment-329650 No Inman in Jan for me. Have fun! Tell Noah and the Sellsius guys I said Hi. No Inman in Jan for me. Have fun! Tell Noah and the Sellsius guys I said Hi.

]]> By: Jonathan Miller http://raincityguide.com/2008/11/26/is-the-housing-market-performing-as-expected/#comment-329645 Jonathan Miller Tue, 02 Dec 2008 11:48:54 +0000 http://raincityguide.com/?p=3551#comment-329645 Thanks Ardell (blush) I always gain new perspectives when we speak...after all, you are the real estate maven). Hopefully you are venturing out east to Inman in Jan? Thanks Ardell (blush) I always gain new perspectives when we speak…after all, you are the real estate maven). Hopefully you are venturing out east to Inman in Jan?

]]> By: ARDELL http://raincityguide.com/2008/11/26/is-the-housing-market-performing-as-expected/#comment-329625 ARDELL Tue, 02 Dec 2008 06:07:20 +0000 http://raincityguide.com/?p=3551#comment-329625 "I have observed that typical agents are far more nervous now than buyers are about the current market. Are you seeing that and if so, why do you think that is?" Jonathan, It's a good sign when agents are more nervous than their clients...it shows that they take the full weight of responsibility for their advices. Any well informed person would be nervous about the current market. I've been making my clients more nervous about the market for quite some time now :) It's funny. When they ask if the value will be up if they decide to move in 2-3 years, they really want you to say yes, even if it's a lie. That's why I don't think you give your customers what the want. Anyone buying in this market should be doing so with the understanding that gains, if any, could be in the very far distant future. Buyers aren't nervous once they decide to buy, because they understand they are buying something they want. It's like buying a piece of art because you enjoy it vs. being assured that it will go up in value as part of your estate. There are fewer buyers but those that are buying are doing so with confidence. Either because they are sure that they are getting a hell of a deal, or because they really want it that much. Thank you for stopping by. There are very few opinions I value...yours is one of the few. It did win The Carnival, but winning your approval was of more value to me. “I have observed that typical agents are far more nervous now than buyers are about the current market. Are you seeing that and if so, why do you think that is?”

Jonathan,

It’s a good sign when agents are more nervous than their clients…it shows that they take the full weight of responsibility for their advices. Any well informed person would be nervous about the current market. I’ve been making my clients more nervous about the market for quite some time now :)

It’s funny. When they ask if the value will be up if they decide to move in 2-3 years, they really want you to say yes, even if it’s a lie. That’s why I don’t think you give your customers what the want. Anyone buying in this market should be doing so with the understanding that gains, if any, could be in the very far distant future.

Buyers aren’t nervous once they decide to buy, because they understand they are buying something they want. It’s like buying a piece of art because you enjoy it vs. being assured that it will go up in value as part of your estate.

There are fewer buyers but those that are buying are doing so with confidence. Either because they are sure that they are getting a hell of a deal, or because they really want it that much.

Thank you for stopping by. There are very few opinions I value…yours is one of the few. It did win The Carnival, but winning your approval was of more value to me.

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