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On Housing, ‘Worst Is Yet To Come'
in response to reader comment: To the ignorant and depressed among us:

Submitted by BLANEY, Mar 29, 2007 18:41

Jones -- Your fondness for capital letters and smug indignation doesn't substitute for the FACT that you haven't answered any of the questions put to you. We among the unwashed would really like to know a few things from experts like you. For instance, why has there even been a slow down in the real estate market? Prices aren't going up at the rate they have been for the past few years -- why not? Interest rates are just swell, employment is no worse. Conditions in the economy are more or less the same as they have been for the last few years, yet housing is not appreciating at the rate that it has been, and that's a FACT. If nothing has changed, why are the double digit price increases no more? Now, being just an average Joe, I thought the prices went up at the rate that they did because of low interest rates, an abundance of subprime loans, interest only offers, more buyers than properties and a feeding frenzy mentality. Can't really plunk that kinda thing on to a spreadsheet, but I think it makes sense. Well a lot of those conditions have reversed themselves. Doesn't less buyers, less affordability, no feeding frenzy, record forclosures, lending bankruptcies and so forth mean that people are gonna have at least a little mo' trouble than they used to when they wanna get rid of their one bedroom condo in a crappy neighborhood for seven hundred grand? Though few are capable of understanding your answer, as we merely use logic, give this one a shot anyway. And while you're at it, see if you can explain to a buddy of mine why he's had to lower the asking price of his Sherman Oaks home four times already this year because no one will bid anywhere close to what the market says his house should be worth. In FACT, no one has bid anything at all...

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Other reader comments on this article

Comment	By	Date
In all of the negative commentary I've read in response to my factual comments, I have heard nothing FACTUAL that... [MORE]	Kenneth J. Jones	Mar 29, 2007 08:36
Jones -- Your fondness for capital letters and smug indignation doesn't substitute for the FACT that you haven't answered any...	BLANEY	Mar 29, 2007 18:41
"To the ignorant and depressed among us:" Kenneth Jones? Did you even bother to read the response to YOUR ignorance,... [MORE]	Roy A. Hughes, III	Mar 29, 2007 22:21
Mr. Jones- Your attempt to paint a rosy outlook on the housing market is kind of sad. I realize you... [MORE]	Cornelius	Mar 28, 2007 15:17
It is now April 12, 2007. Ive been in phoenix for about 6 weeks looking for a home and am... [MORE]	bank of amigo	Apr 12, 2007 12:26
Dear Mr. Case: I don't doubt the experiences of you and your friend. However, isolated cases of personal experience, upleasant as... [MORE]	Kenneth J. Jones	Mar 28, 2007 07:00
There is one hint that prices will drop. No one can afford even a decent condo today. If you have... [MORE]	Blaney	Mar 28, 2007 18:14
I for one agree with what Mr. Case's article contained and let me tell you why... My wife and I bought... [MORE]	Roy A. Hughes, III	Mar 28, 2007 21:53
Mr. Krystofiak is apparently not a student of history. IN FACT, during the worst real estate markets since the great... [MORE]	Kenneth J. Jones	Mar 28, 2007 05:01
While I haven't read the NAR data to which Mr. Jones refers, I DID live through the late 80's and... [MORE]	Rick Case	Mar 28, 2007 06:31
I lived in Austin TX from 1983-95...The 1985-92 bust ranged from 25% to 50% decline depending on location and quality... [MORE]	Army No. Va.	Mar 28, 2007 21:13
Your story is right people making 40,000 a year can never repay a 500,000 fix @ 30 years let alone... [MORE]	notarealtor	Mar 27, 2007 20:38
We are just at the beginning of this Housing Crash. Just look at how ridiculous things got. Homes appreciatated from... [MORE]	Bruce Bartman	Mar 27, 2007 19:08
Many people believe that this will all blow over in a few months. Most don't understand the causes of the... [MORE]	Don	Mar 27, 2007 15:45
We won't have hit bottom until it becomes "common knowledge" that it never makes sense to buy when you can... [MORE]	Paul	Mar 27, 2007 12:50
I'm amazed by economists who can't clearly see that housing is going to be in trouble for the next few... [MORE]	Charlie	Mar 27, 2007 09:18
D: Most major economists like Paul Krugman of Princeton and Schiller of Yale have been saying there is and will be... [MORE]	bababoey	Mar 27, 2007 08:22
Dan Great article. We definately have not seen the worst of this real estate downturn. As a real estate broker and... [MORE]	Stan	Mar 27, 2007 01:01
I have been following the housing market for a bit more than 2 years now. I think Mr. Green Span... [MORE]	Vu Nguyen	Mar 27, 2007 19:45
In many parts of New York City values seem to be holding up. In Brooklyn we still have areas moving... [MORE]	Marc	Mar 27, 2007 20:44
Lenders have provided programs to qualify most any buyer today. Loan officers are not properly trained to sell sophisticated mortgage products.... [MORE]	Jim	Mar 28, 2007 10:29

Reader comment on:On Housing, ‘Worst Is Yet To Come'in response to reader comment: To the ignorant and depressed among us:

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Reader comment on:
On Housing, ‘Worst Is Yet To Come'
in response to reader comment: To the ignorant and depressed among us: