Comments on: Real Estate Bottom Near?

By: Blair Newman and Dave Emerson

Blair Newman and Dave Emerson — Sun, 13 Apr 2008 06:17:20 +0000

Can’t really disagree with any of the above.

Our favorite quote is still from Freddie Mac’s Chief Economist, Frank Nothaft. Speaking at last October’s California Association of Realtors Annual Financial Panel last October, we think he really nailed it:

“We’re in uncharted territory. We just don’t know. . . .” (For more details, if you haven’t already read it, you might want to check out our post from last November, “How low will prices go?“)

By: nicolleshanman

nicolleshanman — Sun, 13 Apr 2008 00:33:18 +0000

No bottom in sight yet. Nope.

By: grownANDsexy

grownANDsexy — Sat, 12 Apr 2008 03:01:23 +0000

Well, I don’t think it will be as extreme as “Death” put it; I do not think we are ‘near’ the bottom. I suspect at the earliest we will see a bottom is sometime next year.

The biggest reason, I think, that it hasn’t totally fallen apart is because smart investors are swooping in on properties, and because of the low dollar, foreign investors are buying up cheap property.

Its not as bad as we may think it is, but it is bad. If we have any more of the those “run on the bank” situations like on Bear Sterns then we might be in big trouble.

The country is in debt in a big way. Many people don’t have saving and have been on this spend/credit streak… it could end next year OR we could have very big problems in the near future.

By: BigD

BigD — Fri, 11 Apr 2008 22:16:35 +0000

I doubt it, Death…

By: Death

Death — Fri, 11 Apr 2008 16:24:13 +0000

To be calling a real estate bottom is clownish. We aren’t even close. When people in California are hurling from convulsive reactions to losses, then we’ll see a bottom.

At least another 30% drop in SoCal real estate prices. Probably another 50%