Comments on: March Comp Killer 2!

By: Stock Forum

Stock Forum — Sat, 09 May 2009 19:30:12 +0000

I will be linking to your site great article.

By: 3b

3b — Tue, 07 Apr 2009 12:50:45 +0000

#144 Sue: For many towns it is basically over? Says who, you? the friendly neighborhood realtor?

No, for many towns it is just getting started, as the level of denial, and its “differeent here” was so great.

Have you looked at the unemployment levels in NJ, in NYC? Have you seen the msasive loss of fiannce jobs on Wall St, the massive loss of pharma jobs in NJ, the large layoffs in the legal and publishing areas? Do you understand the dismal economic state tht NJ is in, that many towns in NJ are in?

Have you seen it Sue? Do you havs a clue Sue?

Who is going to be buying all of these houses for sale in all of our north Jersey towns?

By: Stu

Stu — Tue, 07 Apr 2009 12:44:54 +0000

Karen,

All realtors named Sue should avoid this blog like the plague.

By: KareninCA

KareninCA — Tue, 07 Apr 2009 06:01:41 +0000

Sue – you’re realtor, aren’t you? gee, why don’t you bet your *own* money on this prediction, instead of the money of innocent buyers? here’s a thought – offer to make your buyers whole, if they’re underwater in five years. or to pay their mortgage, when they end up in foreclosure.

By: Sue

Sue — Mon, 06 Apr 2009 18:31:43 +0000

Continually harping on the same negative stuff over and over seems a little crazy. Truth be told there was a correction and it was needed but for many towns it is basically over.

By: grim

grim — Mon, 06 Apr 2009 13:09:01 +0000

Up Up Up!

By: Stu

Stu — Mon, 06 Apr 2009 13:07:32 +0000

I’ll say it for Grim…

UP!

By: exNJpat

exNJpat — Mon, 06 Apr 2009 13:02:16 +0000

I still don’t get why home prices are so high in NJ… the place has basically become a communist police state in the last 30yrs. When I visit family, I get taxed, tolled, and see 15-20 cop car speed traps in a weekend. I’ve not seen that many in 4yrs in PA. All my family is process of leaving. What is left there? I only see emply office buildings, potholes and entire towns taken over by illegal aliens. Seriously, I see permanent downside to NJ home prices…these homes should peal back to 1990 levels.

By: chicagofinance

chicagofinance — Mon, 06 Apr 2009 13:00:55 +0000

freedy says:
April 6, 2009 at 8:52 am
mm,, very sad wiped on on gs, bby, cbrl and others.
guy cant read a chart

Pesce: Don’t worry, he will soon be into revisionist history. Navellier is deep in the bs abyss as we speak.

By: chicagofinance

chicagofinance — Mon, 06 Apr 2009 12:58:47 +0000

Dissident HEHEHE says:
April 6, 2009 at 7:54 am
I’d like to add to that Bloomberg piece the supposed rising home sales and durable goods orders don’t necessarily show anything other than people will buy things when they are heavily discounted to their correct price.

He: You can learn more with Bloomberg at the their best in one story than with CNBC in a month. The exceptions being Fast Money episodes. However, now that Dylan Ratigan told the morons there to stuff it, I have a bad feeling that the show is going to crater. It has already lost an edge. Let’s see whether is persists.

By: chicagofinance

chicagofinance — Mon, 06 Apr 2009 12:55:57 +0000

More signs of the coming anarchy….

After a show-and-tell Friday about how the two Citi Field bullpens are side-by-side, Ron Darling and Keith Hernandez concluded that “bench-clearing brawls can now be fought in right-center.” . . .

By: freedy

freedy — Mon, 06 Apr 2009 12:52:22 +0000

mm,, very sad wiped on on gs, bby, cbrl and others.

guy cant read a chart

By: kettle1

kettle1 — Mon, 06 Apr 2009 12:50:14 +0000

DL,

a more rigorous approach would be to calculate the carrying costs of owning a home and include various tax liabilities and tax breaks and compare that to rents for similar homes.

i.e. If the monthly cost of owning a home including property tax, maintenance, etc and including tax breaks corms to 2000 and you can rent a similar place for 1800, then you would probably want to rent.

By: kettle1

kettle1 — Mon, 06 Apr 2009 12:47:10 +0000

DL,

Someone may want to correct me on this, but i have seen a general rule of thumb as buying is competitive to renting when the purchase price of a home = 10-12X annual rent

so for a home that you are renting for 2000/month (24,000/yr) a competitive purchase price would be 240K-288K

This rule of thumb sees to be in the ball park for much of the nation, but in some areas may need to be adjusted. For instance major urban areas such as the northeast and the west coast are historically more expensive. but that

By: DL

DL — Mon, 06 Apr 2009 12:28:03 +0000

For the board: Have been reading that housing market won’t recover until owning is cheaper than renting. Have not seen any formula that allows you to determine the break even point. Any advice?