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Preview: Comments on: The Gold Rush Market Is Over

Comments on: The Gold Rush Market Is Over

Examining the home price boom and its effect on owners, lenders, regulators, real estate agents and the economy as a whole.

Published: Sat, 24 Mar 2018 08:40:32 +0000


By: AKron

Tue, 14 Aug 2007 07:13:24 +0000

“Last summer, this changed nationally and affected us locally. Nationally, the bubble began to burst in overinflated markets. Locally, it caused some hesitation in our real estate marketplace.” Methinks that realtor/shills can't help themselves when it comes to boosterism. Last month I heard from a Realtor in Fairbanks that the Interior market was slowing up (interest rates rising), but that the Anchorage market was well-known amongst agents in the state to be locking up (sale volumes dropping dramatically). Last week I talked with a general contractor who said that residential upgrades and commercial are going great in Anchorage, but residential building is DOA. The rise in median sale price is just the quicker disappearance of the lower end market, just like in LA and other bubble laggards.

By: Chad

Mon, 13 Aug 2007 18:26:48 +0000

“Once again Anchorage is counter to many other states, as shown by modest increases in the average sales price from $233,496 in 2003 to $259,531 in 2004, then $291,013 in 2005 and $315,156 in 2006 to $331,137 as of June this year.” Oh, yeah, that was only "modest" appreciation. 11%, then 12%, then 8%, then 5%. Wow, a downward trend of appreciation. So easy to see. “While it is not a buyer’s market, it is a good time to buy.” Uh, what?

By: Chad

Mon, 13 Aug 2007 18:19:12 +0000

Hey Sammy, there 'ya are! ;)

By: Chad

Mon, 13 Aug 2007 18:10:27 +0000

Well, you may not have led the horse quite to the water, but I'd say they bought anyway. Dolts if they did! Oh, and somewhat related. My coworkers' daughter going broke in Denver. Her hubby just landed something in KC, and they already got an offer on their place (how that happened, I dunno - we'll see if it actually goes through). Turns out, they are still going to look at BUYING something in KC. I asked why. "Because they plan on staying and they have kids". I said weak excuse. I've also said, time and again, about how bad housing is, and she's apparently told them that, but they don't care. We'll see if they can get a loan, since they have NO money, have had utilities shut off in the last few months, and are living on credit, without technically having jobs right now. I think they'd be lucky to get an apt.

By: Chad

Mon, 13 Aug 2007 18:04:50 +0000

"I have a friend with two master degrees and he cannot figure things out." But too many of them were walked through Grad school with their damned hand held. Not me. i actually asked questions during grad school. But I guess that is a character trait. Being opinionated and demanding did not make very many professors happy. Always fun to hear them go, "uh. . . "

By: Aqius

Mon, 13 Aug 2007 07:15:45 +0000

followup comment: I have never seen so many sign twirlers as this weekend here in north sacramento area. Seems every corner had someone w/a sign hawking more than just homes, like sandwhich shops, carwashes, condos, etc.

By: Aqius

Mon, 13 Aug 2007 07:12:25 +0000

Tina posted - " A friend of mine works for a high tech company and two weeks ago every department was told they have to lay off one person. " I bet the cya moves ramp up big time now. Coworkers bringing in starbucks & donuts, extra time spent working w/out whining for overtime, no more petty bickering over mundane matters, all to project: " DONT CUT ME BOSS, NAWSIRREE I"M MUCH MORE VALUABLE DEN DEM DERE FIELD HANDS" !!

By: OCInvestor

Mon, 13 Aug 2007 05:52:36 +0000

Awesome Ben! First time in my life I advised my cousin not to do something that is buy a half mill house in this market. I explained to them all the possibilities, HBB and "local"BB for their city. Two Master degrees...... What do you guys think they did?

By: Dennis

Mon, 13 Aug 2007 04:28:50 +0000

Amen!!! Neil. I have a friend with two master degrees and he cannot figure things out. I think we have to get back to degrees in Common Sense! But I do not know what unjiversity is offering them. Love popcorn....

By: garrison

Mon, 13 Aug 2007 03:24:07 +0000

I've been to Saskatoon and lovely Regina, they make Duluth, MN look balmy and upscale

By: rentfornow

Mon, 13 Aug 2007 02:44:24 +0000

Sorry - misspoke. No offers - just lookers. Lots of folks want to come and look (and have long long lists of other places to go see).

By: returntothemotherships

Mon, 13 Aug 2007 02:22:38 +0000

Interest only no down house 2004 $500,000 Take out 125% heloc 2005 $100,000 Price falls 20% 2007 upside down -$120,000.00 Sense of entitlement priceless.