I was just curious of what you think when you stumble accross Blogs like these? What were you looking for? Did you find it in the content, links, etc.??
I stumbled accross Housing Blogs when I was selling and looking for a new Home. I just couldn't beleive the prices that people were asking and I got suspicious and started looking for more info.
While Canadian Blogs are still forecasting a real estate correction, American Blogs have had their predictions realized. It was interesting to read, last year, the debates on those Blogs. Now there isn't really any debate, the Housing Bubble has popped and the media has even started to report what these Blogs had been forecasting 2 years ago.
Showing posts with label Media. Show all posts
Showing posts with label Media. Show all posts
Tuesday, February 5, 2008
Sunday, February 11, 2007
A Home's Real Value
We obsess too much about whether our houses earned or lost value and ignore the longer view our elders took.
By MARK POTHIER February 11, 2007
"These days, people tend to think of houses as places to stay while waiting to go somewhere else. Maybe they anticipate corporate headquarters moving jobs out of state or fear layoffs will arrive with the next quarterly report. Maybe a marriage has started to fray. Perhaps they covet a bigger house with more amenities. Judging by the displays at Home Depot and Lowe's, everyone seems to require the same gleaming appliances, stone counters, and hangar-sized bathrooms. But to homeowners of my in-laws' generation, the attachment to where they lived was as secure as a foundation. Houses were not acquired primarily for investment purposes or seen as banks to tap for debt consolidation and cars. They would not have considered buying one with the idea of “flipping” it for profit. And the only growth trends they followed were their children's and, later, grandchildren's, with each additional inch of height etched in pencil on a wall. But they also bought during a time when prices were modest, job security was the norm, pensions were still intact, and marriages usually lasted longer than the mortgage. Home ownership was less complicated then." Full Article.
By MARK POTHIER February 11, 2007
"These days, people tend to think of houses as places to stay while waiting to go somewhere else. Maybe they anticipate corporate headquarters moving jobs out of state or fear layoffs will arrive with the next quarterly report. Maybe a marriage has started to fray. Perhaps they covet a bigger house with more amenities. Judging by the displays at Home Depot and Lowe's, everyone seems to require the same gleaming appliances, stone counters, and hangar-sized bathrooms. But to homeowners of my in-laws' generation, the attachment to where they lived was as secure as a foundation. Houses were not acquired primarily for investment purposes or seen as banks to tap for debt consolidation and cars. They would not have considered buying one with the idea of “flipping” it for profit. And the only growth trends they followed were their children's and, later, grandchildren's, with each additional inch of height etched in pencil on a wall. But they also bought during a time when prices were modest, job security was the norm, pensions were still intact, and marriages usually lasted longer than the mortgage. Home ownership was less complicated then." Full Article.
Sunday, January 28, 2007
Housing Bubble is Global.
Australian homes are 'severely and seriously unaffordable': report
30 January 2007
Housing affordability in Australia ranks among the worst in the world, a new study has revealed.
The 3rd Annual Demographia International Housing Affordability Survey found Australia to have the most pervasive housing affordability crisis of all the countries in the study. The survey looked at the housing markets in Australia, Canada, Ireland, New Zealand, the UK and the US.
30 January 2007
Housing affordability in Australia ranks among the worst in the world, a new study has revealed.
The 3rd Annual Demographia International Housing Affordability Survey found Australia to have the most pervasive housing affordability crisis of all the countries in the study. The survey looked at the housing markets in Australia, Canada, Ireland, New Zealand, the UK and the US.
The study also rated every capital city in Australia as 'seriously' or 'severely' unaffordable in the global study of 159 cities. A city is deemed unaffordable when the median house price passes three times the median household incomes. Housing is 'seriously' unaffordable when it passes four times median household income and 'severely' unaffordable when it passes income five times.
Sydney was named the most unaffordable city in Australia and ranked seventh of the 25 most unaffordable housing markets in the world. Perth, Hobart and Melbourne also joined the list. Median prices in Sydney are 8.5 times median income - worse than London at 8.3 times and New York at 7.2 times. LINK
Sunday, January 21, 2007
Lack of Housing, 13 Days Straight, Missing Your Family, is all the Money Worth It?
Workers following the dollars to oil-rich northern Alberta
By Doug Struck, Washington Post January 21, 2007
"FORT McMURRAY, Alberta -- The plane from Calgary touched down as a cold dawn cracked the sky, and Rob Smaldon, a compact man wearing a baseball cap, sighed, "Ah, back in paradise." He was joking." Full Article.
By Doug Struck, Washington Post January 21, 2007
"FORT McMURRAY, Alberta -- The plane from Calgary touched down as a cold dawn cracked the sky, and Rob Smaldon, a compact man wearing a baseball cap, sighed, "Ah, back in paradise." He was joking." Full Article.
Sunday, December 31, 2006
If the Housing Market is so strong, what's with all the negative News?
I just did a search on Canada.com for Housing related articles. There are a lot of negative articles out there, along with some positive articles. If you take into consideration what consumers were being told the last couple of years, the Housing Market will never drop, it is different this time, there is no Housing Bubble. Then why are there so many negative articles out there?
- Housing 'unsustainable'
- US housing bust raises odds of recession
- TD warns of housing bubbles in Western Canada
- Sagging housing values, high fuel prices strain US shoppers
- Canadian housing starts better than expected: CMHC
- Drop in housing starts reported across Canada
- Western housing market 'vulnerable'
- Housing starts drop more than expected
- Housing market still sturdy, but cooling
- Vancouver housing market really nuts
Thursday, December 28, 2006
Has the US Housing Downturn ended??
Over the last couple of days this seems to be the housing topic of choice for the media. The numbers show a minor, 0.6%, increase in month to month home sales, even though YOY sales are still down 10% from 2005.
ROBTV just had an economist,1:45 PM EST, from BMO telling us that US housing has hit bottom and is on its way up and the National association of realtors® is all over it as well.
November Existing-Home Sales Rise Again
I am still skeptical. I feel it is the Housing Industry Cheerleaders trying to get buyers off the sidelines. The numbers are not strong enough to start saying there is a change in the market.
It is quite well known that builders have been offering generous incentives to sell their inventory. This isn' t shown in the pricing so the stats look better, even though buyers are recieving a better deal. I personally don't believe the free upgrades have the monetary value they claim, it still attracts buyers.
I am expecting there to be more trouble next year when Listings increase in the Spring. This will bring more competition and builders will need more than fee appliances, landscaping, and vacations to sell their houses.
ROBTV just had an economist,1:45 PM EST, from BMO telling us that US housing has hit bottom and is on its way up and the National association of realtors® is all over it as well.
November Existing-Home Sales Rise Again
I am still skeptical. I feel it is the Housing Industry Cheerleaders trying to get buyers off the sidelines. The numbers are not strong enough to start saying there is a change in the market.
It is quite well known that builders have been offering generous incentives to sell their inventory. This isn' t shown in the pricing so the stats look better, even though buyers are recieving a better deal. I personally don't believe the free upgrades have the monetary value they claim, it still attracts buyers.
I am expecting there to be more trouble next year when Listings increase in the Spring. This will bring more competition and builders will need more than fee appliances, landscaping, and vacations to sell their houses.
Sunday, December 17, 2006
Time Magazine Person of the Year: You
"It's about the many wresting power from the few and helping one another for nothing and how that will not only change the world, but also change the way the world changes."
"And we are so ready for it. We're ready to balance our diet of predigested news with raw feeds from Baghdad and Boston and Beijing."
"You can learn more about how Americans live just by looking at the backgrounds of YouTube videos—those rumpled bedrooms and toy-strewn basement rec rooms—than you could from 1,000 hours of network television."
Dec. 25, 2006 Vol. 167 No. 51
Some of the "Housing Bubble" Blogs out there helped me make my decision not buy back into the Real Estate Market. They weren't the only reason for my decision, but they had a part in it.
Thursday, December 14, 2006
The Confusion - Why can't the media decide?
Is Housing slowing or is it gaining?? It seems to be a mixed bag ou there concerning Canadian Real Estate. Even once you get into the article the message is not clear. There seems to be a lot of speculation out there on what's going on.
I guess we will be seeing a lot of this in the media until it is quite evident on which way the market is going.
I guess we will be seeing a lot of this in the media until it is quite evident on which way the market is going.
Monday, December 11, 2006
Housing Headlines from this week - December 11, 2006
- “Gigantic” housing bubble in the US could burst in 2008
- Canadian building permits surge
- Housing prices edge downward Real estate sales slowing across the Lower Mainland If there was a housing price bubble, the air is starting to come out
- New house prices dip in CalgaryGlobe and Mail - Canada
- New home prices show signs of coolingCBC British Columbia - Vancouver,British Columbia,Canada
- Is a financial crisis overdue?Canadian Business - Toronto,Ontario,Canada
- Real estate expected to flounder in 2007BusinessWeek - USA
- Easing offEdmonton Sun - Alberta, Canada
- Housing market still sturdy, but coolingCanada.com - Hamilton,Ontario,Canada
- Housing market expected to cool in 2007 CALGARY, ALBERTA-- - Royal ...By bnewuser_423560
- Canada November Home Starts Unexpectedly Rise to 225000 UnitsBy 406
- When Will the Housing Market Bottom?Gold Seek - USA
- Housing market begins to softenThe Leader - Surrey,British Columbia,Canada
There you have it. The Media is starting to report of Housing declines all over Canada. These Headlines have been in the States for some time now. It seems like it has been only in the last Month the Canadian Media has started to show this side of the housing market.
I will try to do this once a week to see if there is a trend in the reporting.
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