A few days ago, I posted up a piece titled “Debunking another real estate puff piece”. It was a pretty harsh criticism of a piece by Warren Boroson, especially critical of those he quoted. I sent an email to Mr. Boroson inviting him to the blog, and he did respond to my email with a few questions. I sent a rather lengthy reply to him, but had not yet heard back.
This afternoon, lo and behold, I came across a new piece by Mr. Boroson:
I wonder if we have actually gotten through to someone? I’d like to think that we had some role in changing his outlook. The tone of this article is signficantly different from his last piece. Thanks Mr. Boroson, this piece is much more neutral, and does carry some warnings..
Here are some notable paragraphs..
Maybe house prices finally are coming down.
Jean Gascoigne, an agent for 40 years and a broker for 38, reports that she has never seen as many price reductions as she has seen recently.
And it isn’t just the highest-price houses that are taking a hit, she reports.
Might the price stabilization just be seasonal?
“The big offices don’t want to admit that prices are leveling off and maybe going south,” she said.
Some have made good money, he granted. Everything will be fine until the music stops and someone is left standing.
I’d like to send out special thanks to Jean Gascoigne, the broker quoted above, for her honesty in reporting the truth behind the current market.