Oh no !!!!
I just knew it ~ Alan has had this recession planned all along and now here it is!
I guess this means the whole world is approaching the end, home values will inevitably plunge to zero, and we will all be living in tents on the beach.
Damn!!!!
How can this be happening to me anyway????

Hi Phil – Thanks for your comment. Tents on the beach actually doesn’t sound so bad. Or in the mountains for that matter. Either way it’s great view property. Maybe Alan will join us in Ridin’ the Storm Out (credit to REO Speedwagon).

It is amusing to watch everyone wring their hands as they anticipate the end of real estate as we know it.
Many consumers and agents haven’t been around long enough to realize that real estate doesn’t necessarily appreciate rapidly forever.
Homes are not personal ATMs, they are a place to live.
Real estate is cyclical and everyone needs to understand that you can expect to have a hangover after after partying during the past five years of easy lending policies, rampant speculation, and runaway prices.
Best of all ~ markets like our current market help our clients appreciate the true value of an experienced agent.

I couldn’t agree more. Like any time there is too much of a good thing, people start to take it for granted. The best reason for buying a home has always been and will always be for the long term benefit of enjoying it every day. That is the true value. Anything else is gravy.

A few months ago he said the housing market had seen the worst it was going to offer. Maybe that still left a 33% change, but I like the way you said we will have a 67% of no recession!

Option One just killed all loans >90% LTV!! The spring flush is coming!!

I like Steves optimism.

Lar – We don’t call him Pollyanna for nothin’.

All the people who bought a house in the last 2 yrs loves Steve’s optimism. Ignorance is bliss.
Follow the lender news for the inside look. It is ugly now and going to get much worse. I would hate to be a seller.