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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (102542)	9/26/2009 11:24:14 PM
From: SouthFloridaGuy	1 Recommendation Read Replies (2) \| Respond to of 116555

Things have bottomed here and they've bottomed in many good areas within the Bay Area, Seattle, Los Angeles, Boston,... While there are plenty of problems with housing valuation websites, their macro data compilation is pretty interesting...I suggest using Zillow's "local info" housing tool to view trends by region, cool stuff at the very least. The general macro-economy is stronger in globalized cities because they are linked to global growth...logically. Many places such as the NY metro also have much stricter zoning and hence limited inventory. Housing in Singapore and Hong Kong is hot and making new high prices even though they had their worst recessions since the Asian crisis and saw quick 20% declines in 2008. The effects of the end of the global recession are felt all the way in NY, London, etc. Likewise, I know for a fact that many parts of Miami have fared much better than the statistics overall. At the end of the day, real estate has historically been local and now that the national decline is probably over, it will go back to being that way. Also, the natural inertia for housing has been to go increase as has the price of everything around us. 35% declines are once in 3 annual standard deviation events.