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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: saveslivesbyday who wrote (133491)	7/13/2008 10:59:55 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 306849

I try to figure out whether it has some merit. For an obstinate bear, a mammouth task. Now add another twist which could jump start house buying: Former Indymac savers (and others having money with a bank) will think twice before putting the money there again: I take the money back from my savings account...banks are not safe so I better buy a tangible asset. Gold is expensive, houses are "dirt cheap" a home or something... Perhaps bank failures ignite a change in psychology: "The bank can´t handle it...I can do better!" Then, Bernanke could waver at the wheel and cut the rates once more to get money moving around. What do you think?

To: saveslivesbyday who wrote (133491)	7/13/2008 1:53:21 PM
From: posthumousone	Read Replies (1) \| Respond to of 306849

Sellers believe all this tripe of the bottom is in.....that is one reason they cling to the higher prices

To: saveslivesbyday who wrote (133491)	7/13/2008 6:30:06 PM
From: NOW	Respond to of 306849

even if they did, what are they going to do? Buy more? They are still up to their necks in debt

To: saveslivesbyday who wrote (133491)	7/13/2008 6:36:08 PM
From: Peter V	Read Replies (1) \| Respond to of 306849

When the masses are convinced that we are nowhere near the bottom, that's usually the bottom. It's accompanied by a feeling of utter despair, which I don't think we have come close to yet, we are still in the fear stage. Around here, most home sellers are still clinging to their high asking prices. I know it's a different situation in many parts of the country, Sacramento could be nearing a bottom because they have been totally rocked. By and large though, the coasts have not been hit very hard, and I'm waiting for that before I own a house again. If the economy continues to deteriorate, housing cannot recover, no matter how far individual market have fallen.