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Thread: Interesting Article
01-07-2009, 11:10 PM #1
As I sit here waiting for my phone to ring I find myself drawn to any article that has anything to do with the housing market.
This is an interesting read. Most of the specific examples are in the areas hardest hit already - Florida, Southern Calf, etc.
The comparison to 1933 raw numbers seem meaningless and would be much more worthwhile if they were given as a percentage or ratio. I imagine there are a few more houses around today than 75 years ago.
I haven't seen any of this in the Portland metro area.... heck, houses just aren't selling to anyone. I realize the speculative investors aren't likely to get inspections but my percentage of the pending/closed sales has been rising the last few months rather than falling, as I would expect it to do if a lot of houses were selling without inspections.
Overall, I think the article overblows the potential problem but I'm not really in the epicenter of the problem so I might not be seeing the whole picture.
Have any of you seen this effect?
01-08-2009, 02:42 AM #2
Re: Interesting Article
Yup. thats one way to look at it but I don't think its going to go that way for all that are now buying at auction. most have the cash in hand to buy with and most that I work with are in for some time as investors. I get a lot of inspection from buyer by auctions. they are after the fact inspection.
I don't put much in what is stated in that clip.