mr_genius

QUOTE (Balta1701 @ Jun 24, 2010 -> 10:31 AM) Not at all. The surge in buying that started last fall probably wouldn't have been nearly as big had the government not dumped in truckloads of cash. Not that it was the most effective method of stimulus, but when the government ponies up $20 billion or so, it's going to have an effect. but also keep in mind that it pushes down demand for months post government stimulus. it's not an effective, as you mentioned, or sustainable solution.

QUOTE (Balta1701 @ Jun 24, 2010 -> 10:12 AM) There's a reason why foreclosures are up sharply...for about a year, banks have been putting off foreclosures for people because they can't sell the home if they foreclose on them. The term that has become commonly accepted for this is "Shadow inventory", they are houses that will be on the market but that banks have kept off the market to avoid the double-whammy of depressing housing prices further and taking the financial hit to themselves. If the people keep living in them, the people basically get free rent on the bank, but the bank gets the benefit of the house not sitting vacant and general upkeep/usage being done. They started pushing more Foreclosures earlier this year because their financial situation has improved and because, thanks to the government intervention, the housing market somewhat stabilized and could absorb some portion of the hit. there are more of those to come too.

QUOTE (NorthSideSox72 @ Jun 24, 2010 -> 09:56 AM) Foreclosures SELLING is good, so is the fact that we appear to be around the top or just past of the big foreclosure bubble. The dip in general is bad. But the marketplace does appear to be shedding inventory in a healthy way, yes. It will be quite a while before we see is truly be strong though, another couple years at least. But this huge second drop in prices and sales that people have been predicting for a while doesn't seem to be in the cards. I'd bet 2010 ends up an overall wash, with the market staying more or less stagnant for the year. 2011 should see some improvement. Foreclosures are up sharply. But you are right, foreclosed homes should be sold first, as it is necessary for a market correction. The good news is that delinquencies are going down. http://www.occ.treas.gov/ftp/release/2010-69.htm but Q1 of 2010 was pretty bad for foreclosures. I still think there is more price correction needed before true stabilization. Homes were just priced at outrageous levels.

QUOTE (NorthSideSox72 @ Jun 24, 2010 -> 08:32 AM) This is NEW home sales, not existing. So its really mostly about how many new homes are being built. I've said all along, and its still true, I am glad to see these NEW home sales numbers continue to plummet. This is good because it puts less supply on the market. So ultimately, this will help lead to a stronger overall real estate market, since EXISTING home sales make up the majority of it. Believe it or not, this is good news for the real estate market. Bad for new home construction personnel though. http://news.yahoo.com/s/ap/us_home_sales more good news?

YES! Q !

f*** yea

QUOTE (Pants Rowland @ Jun 23, 2010 -> 10:26 PM) greg is ozzie g. lol. that would be great.

that was shaky

this ump is a complete douche

QUOTE (Kalapse @ Jun 23, 2010 -> 10:22 PM) Take a look at this HORRIBLE zone from today's umpire: That's embarrassing wow that is s***ty.

very nice

my oh my terrible at bat

very nice

safe. not even that close.

damn

and Kotsay gets thrown out. signature move.

2 out run production oh yes

PUT IT ON THE BOARD SUCKAS

1-1 yes

QUOTE (lostfan @ Jun 23, 2010 -> 09:15 PM) Buy my house too please. It's not worth zero though well that settles it I AM BUYING EVERYONES HOUSE so you guys all gonna rent now?

alright

QUOTE (kapkomet @ Jun 23, 2010 -> 09:08 PM) Dude. Buy my house. I don't want the payments anymore. It's $X,XXX a month. Make it snappy. but you said it's worth zero. bad initial negotiating stance

QUOTE (kapkomet @ Jun 23, 2010 -> 08:50 PM) If that's how the value of a home should be based, every home is worth exactly zero. a home is worth what someone is willing to pay for it. if you think it's all zero? i'll overbid you. if you think your house is worth more than it actually is, too bad.

http://www.nytimes.com/2010/06/24/business...ml?ref=business U.S. New Home Sales Drop 33% in May Prices need to be allowed to fall to levels which reflect wages and job growth. No more tax payer funded 'home discounts'. Homes will sell for what they are worth.

QUOTE (Rex Kicka** @ Jun 23, 2010 -> 11:47 AM) The price of produce in urban, lower income areas is shockingly high in comparison to other parts of the urban area, and the quality can be disappointing at best. Best example? Brooklyn v Queens. there is a massive produce store in Humbolt park in Chicago that is super cheap (it's been there a long time, well before gentrification). we don't need some big government program to sell vegetables in a neighborhood where there is no demand and no one is going to buy.