You're probably as sick of the housing news as I am. One of the things I learned about bubble crashes is -- just when you think they are at an end, they drop again. And then again.
It's only when you've given up expecting it to change that it does. When you don't care anymore.
Anyway, the Bulletin had two mutually contradictory articles about housing that can be explained, I think, by timing.
The announcement that "Foreclosures Surge 287%" is the beginning of a new trend. (Or a continuation of an old trend...)
The news that housing prices went up for one month, is the end of the last trend -- as well as being what looks to me a temporary blip upward. My interpretation is that it just happened that the houses that sold in April happened to be higher priced.
But a few more months of heavy foreclosures can't do anything but drive prices down again, you would think.
Nevertheless, this is what you hear from the Bratton Report: "We do appear to bumping along the bottom of the market." ...."As you can see, we appear to be in a bottoming process and the large declines that occurred in 2008 and 2009 are leveling out."
"I believe this a great time to buy a house...."
So when does an organization's credibility become low enough not to be quoted anymore?
It's easy. I'll subject myself to the same criteria. Check out what they've said and I've said in the past and see how accurate we've been. Go ahead, all my posts are still there.
I'd be willing to bet that the Bratton Report has called a bottom and used the words "great time to buy a house" oh, I don't know, a dozen times?
Shall we compare notes in 3 or 4 months? It's not just about being bullish or a bear--it's about being somewhere in the realm of reality.
At least the Bulletin also quotes Tim Duy, director of the Oregon Economic Forum:
"Duy anticipates home price could take anoher dip in May and June." "Duy said it is likely to put downward pressure on housing prices."
What HE said.
It's only when you've given up expecting it to change that it does. When you don't care anymore.
Anyway, the Bulletin had two mutually contradictory articles about housing that can be explained, I think, by timing.
The announcement that "Foreclosures Surge 287%" is the beginning of a new trend. (Or a continuation of an old trend...)
The news that housing prices went up for one month, is the end of the last trend -- as well as being what looks to me a temporary blip upward. My interpretation is that it just happened that the houses that sold in April happened to be higher priced.
But a few more months of heavy foreclosures can't do anything but drive prices down again, you would think.
Nevertheless, this is what you hear from the Bratton Report: "We do appear to bumping along the bottom of the market." ...."As you can see, we appear to be in a bottoming process and the large declines that occurred in 2008 and 2009 are leveling out."
"I believe this a great time to buy a house...."
So when does an organization's credibility become low enough not to be quoted anymore?
It's easy. I'll subject myself to the same criteria. Check out what they've said and I've said in the past and see how accurate we've been. Go ahead, all my posts are still there.
I'd be willing to bet that the Bratton Report has called a bottom and used the words "great time to buy a house" oh, I don't know, a dozen times?
Shall we compare notes in 3 or 4 months? It's not just about being bullish or a bear--it's about being somewhere in the realm of reality.
At least the Bulletin also quotes Tim Duy, director of the Oregon Economic Forum:
"Duy anticipates home price could take anoher dip in May and June." "Duy said it is likely to put downward pressure on housing prices."
What HE said.