Comments on: Latest Lereah Book

By: Miles

Miles — Wed, 09 Jan 2008 00:15:27 +0000

Baby boomers are already housed, and beginning to retire. Markets are overbuilt. More available houses than buyers. Classic interest rate driven housing bubble. Leverage is great when the market is moving up, but is crushing when prices drop. Prices will more than likely drop to pre-bubble 1997 price levels. Consumer spending is declining as baby boomers brace for retirement. Gold prices are rising at a frightening rate. Opening the borders and taxing illegals won’t solve the problem.

By: Bear Once Bull

Bear Once Bull — Mon, 07 Jan 2008 08:31:17 +0000

BTW, I work in the Real Estate & Mortgage Industries and all i can tell you is brace yourselves. The guidelines keep getting tighter and tighter. Lenders are being more quiet about certain things and are getting rid of many programs and restricting maximum LTV ratios. Subprime is basically paralyzed and FYI-they changed their name to Non-Prime now. Wall St and International Investors won’t buy any securities related to US Real Estate. And the Govt will compound the mess by adding 783 new laws that won’t help the current crisis. And Obama, Clinton, Edwards, McCain & Huckabee won’t discuss because Iraq keeps them busy. People, we’re screwed and we just have to take it. My livelyhood depends on things going well, but I’m a realist and this has a long downward way to play out. Hey, it was good while it lasted…now I actually have to earn the money that i get.

By: Bear Once Bull

Bear Once Bull — Mon, 07 Jan 2008 08:19:35 +0000

Come on, lets give this guy a break… he has either mental problems or can not accept reality if it sh*t on him. This guy has been so discredited that no one will purchase this latest book. The book I’m waiting for is Lawrence Yun’s book, that one should have plenty of laughs for 2008. But seriously everyone, what can we really expect from these Realtors? … Their livelyhood depends on house sales and they have to use propoganda just like any other totalitarian regime. (I wonder if they have an office in Russian, if so then you can bet on the propaganda to get stronger and stronger… can you imagine Putin predicting a “bottom” to the U.S. Housing market? )

By: IrvineRenter

IrvineRenter — Sat, 05 Jan 2008 17:47:45 +0000

Thanks for the link. I am glad you got a good laugh from it.

By: Metroplexual

Metroplexual — Sat, 05 Jan 2008 02:09:54 +0000

My understanding is that is his old neighborhood in the DC area. His house is at he end of the cul-de-sac.

By: Ross

Ross — Fri, 04 Jan 2008 19:53:31 +0000

I tend to agree with Ken. GOOD real estate bought on leverage with equity in the game has always treated me well. Need to buy at replacement cost or less and have a reasonable expectation of a reliable income stream. Houses are a different matter. I too have guffhawed at the ignorance of housing market players and investors. I’ll take those condos in Florida………at my price.
Income producing R E with long term fixed financing is like betting the Federable Gummit will continue to devalue your currency. You are effectively arbitraging the stupidity of lenders against the stupidity of your Government.

By: Michael C.

Michael C. — Fri, 04 Jan 2008 19:34:31 +0000

Alas, there is a reason this fellow’s name rhymes with a certain liquid bowel movement.

By: John

John — Fri, 04 Jan 2008 19:33:42 +0000

Funny.

I heard an interesting statistic from a friend who worked on some LBO deals in the housing related industry over the last year. He said that last year (’06) 10% of the total housing stock turned over. The long-term historical average is 5%. Wonder if Lereah cites this one.

By: Josh

Josh — Fri, 04 Jan 2008 19:29:23 +0000

Don’t forget this one:

The Rules for Growing Rich : Making Money in the New Information Economy
June 2000

By: Eric Sebille

Eric Sebille — Fri, 04 Jan 2008 18:43:29 +0000

Ken,

I have some condos in Florida I would like to interest you in. Florida real estate never goes down.

Sincerly,

Florida condo investor