End of Moratorium, obviously. But I'm going to try not to be so Armageddonish.
I'm more and more seeing this housing bust on two different planes, connected by an unbreakable thread.
On one plane, there is the glut of houses I first noticed, and what I first focused on a few years ago. An obvious bubble. Alongside the glut are the ridiculously high prices, especially on the westside. And a third element of glut, which as a retailer I always include, is the huge amount of commercial square footage that is going to hit the market over the next year.
The housing inventory and prices could -- conceivably -- be influenced -- marginally -- by positive media coverage. Though I doubt it.
(It would be an interesting survey to find out how many real estate agents bought the book "The Secret." Those of them that read, that is.)
The second plane is the credit market. When I started blogging, I knew nothing about this. I was surprised when I qualified for as nice a house as I got for my income, but didn't look a gift horse in the mouth. I was confident I could make the fixed 30 year mortgage rate, but was kind of bemused that the lender was so confident.
Anyway, this part of the market isn't going to be swayed by the 'media' in any fashion, and ultimately, I believe, is going to be the hurdle that no amount of "Best Time to Buy in Twenty Years" campaigns can overcome.
The 'positive' vibe people are so self-deluded that its become sad.
I'm more and more seeing this housing bust on two different planes, connected by an unbreakable thread.
On one plane, there is the glut of houses I first noticed, and what I first focused on a few years ago. An obvious bubble. Alongside the glut are the ridiculously high prices, especially on the westside. And a third element of glut, which as a retailer I always include, is the huge amount of commercial square footage that is going to hit the market over the next year.
The housing inventory and prices could -- conceivably -- be influenced -- marginally -- by positive media coverage. Though I doubt it.
(It would be an interesting survey to find out how many real estate agents bought the book "The Secret." Those of them that read, that is.)
The second plane is the credit market. When I started blogging, I knew nothing about this. I was surprised when I qualified for as nice a house as I got for my income, but didn't look a gift horse in the mouth. I was confident I could make the fixed 30 year mortgage rate, but was kind of bemused that the lender was so confident.
Anyway, this part of the market isn't going to be swayed by the 'media' in any fashion, and ultimately, I believe, is going to be the hurdle that no amount of "Best Time to Buy in Twenty Years" campaigns can overcome.
The 'positive' vibe people are so self-deluded that its become sad.