Inland Empire

[Justsaying]

Feb. 2 (Bloomberg) -- Jonathan Miller, president of Miller Samuel Inc., talks about the outlook for the U.S. and New York real estate markets. He speaks with Tom Keene on Bloomberg Television's "Surveillance Midday." (Source: Bloomberg)

http://www.bloomberg.com/video/85603938/

[Justsaying]

Newsworthy!

[UCWino]

Thanks for posting this although it isn't applicable to the IE where prices have dropped by approx 60%, rather than 30% of which the forecasted contnued drop is based on. As a homeowner, I gleaned more positives than negatives from this clip......rising rental prices and the tight credit market preventing a housing "boom" despite unemployment, (not sure I believe this) Sounds like the overall message is if one can get a mortgage and find a smart buy, now is the time to leap.

[Justsaying]

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UCWino wrote:

Sounds like the overall message is if one can get a mortgage and find a smart buy, now is the time to leap.

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   Sorry UCWino, but the overall message is quite the opposite of what you have interpreted.

   Since there will be a lot more foreclosures down the road (next 3-4 years), that inventory will put more pressure on home prices, which will bring a decline in home values even further (even in the IE). So, even if the rates go up (which eventually will) it'll be much smarter to WAIT and purchase a home at a much lower price and a slightly higher rate! Not to mention that you will be able to purchase a much newer and upgraded home (built in 2006, 2007 & 2008).

[UCWino]

I guess time will tell Justsaying.....the reference point in the video was areas that have only dropped 30% from peak. I think we have bottomed in most of the IE, but I certainly wouldn't bet my life on it.

[Justsaying]

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UCWino wrote:

I guess time will tell Justsaying...

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   Exactly on point, UCWino, time will definitely bring the rest of the cards from the house of cards down!

[UCWino]

House of cards in the IE?

enuff said

[Justsaying]

Glad to help those who come to this forum to learn the truth!

Time will tell!...