The psycho-babble was flying today.
First it was McMillin talking the party line like an NAR booster in an article in the U-T, saying it is a great time to buy or sell.
Then HW features more ivory-tower guys talking about the market, entitling the article: Homebuyer Demand All But a ‘Standstill’, but I couldn’t find where they actually used the word standstill in the text. Everyone speaking with great certainty as if they know what’s actually happening, and the MSM soaking it up like it’s factual – with editors applying liberal interpretations to sex up the effect.
Here’s a view from street-level:
The U-T also had Roger’s dose of reality too:
For San Diego, the sales count was 3,070, down 21 percent from June’s 3,885 — the biggest June-July dropoff since 1995.
June is typically the highest-selling month of the year, according to DataQuick and July is typically about 6 percent lower. Since 2000 July has only ranked first once in most sales in any given year.
Between the time I published this post, and now, the HW changed the headline to take out the quotation of ‘Standstill’.
Are you HW guys reading this?
“People hate me, I think…the neighbors–but I’m doing everyone a favor. Just putting it all out in the open so people know what’s happening around them.”(JtR)
*Grin* Jim, you need to do your Jack Nicholson impression as you drive by: “The truth? You can’t handle the truth!”…
Your reports on how frustrating it is for buyers have saved me a lot of frustration. Sending in the rent check has never been so gratifying.
We stopped looking over a month ago. Yesterday I popped up zip to see if any new houses popped up where we’re looking. Nothing has changed. No new listings and no drops in price. Nothing has sold either…
Fortunately rent is cheap. (although not paying your mortgage and living for free is probably cheaper)
With interest rates as low as they are and all the free money floating around I doubt things are going to change anytime soon. Banks need to raise interest rates and constrain the money supply so deadbeats get evicted and savers can afford properties again.
Hey Jim, if we wrote you in for Mayor of SD, would you accept the position?
No, I’d have to move!
Classic JTR delivery.
“Probably not going to miss that eh … tank!”