The Path to Disaster
By Inman News, Friday, October 17, 2008.Bookmarking Sites
Inman News today released a late-breaking special report titled The Path to Disaster (PDF Download); which chronicles the demise of the housing market over the last few years.
From the report's introduction:
We dug back in the Inman News archives for some forensic evidence that foretold the catastrophic demise of the boom days, for those clues — some subtle and some now painfully obvious — that this was all bound to happen.
The 10 articles presented here — originally published from 2003 to 2007 — offer discussions of ominous housing-bubble theories, the rise and the risks of subprime lending and unconventional mortgage products, skyrocketing home prices, overbuilding, the potential for a widespread credit crisis, and other contributors to the problems facing the housing and financial markets.
The lessons learned from the latest extreme run-up and burnout phases in the housing market will perhaps guide the industry and its regulators in efforts to reduce the fallout from future cycles.
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Submitted by Dean jason on October 20, 2008 - 10:36pm.
The article surly discuss in detail about the real estate problems. But what i think is it is still possible to make money or search for the best deals. The thing is all one has to do is do some through research about the place where he is investing and if does not know how to do so read more articles or books written by real estate expert. One such example is www.deangraziosi.com/
Submitted by James Boyer on October 21, 2008 - 12:00pm.
It is often hard to see and understand that something is unsustainable until it starts to fall apart. The ability of people to believe that things will continue just the way they have been going, is very strong. Currently we are in a very negative cycle, people are so negative in fact, that it likly will not take much possitive news to start to turn that around.
Morristown NJ Real Estate
Chatham New Jersey
Summit New Jersey
Submitted by Anne Hensel on October 23, 2008 - 9:07pm.
We have had housing crises before and it does not look like we have learned a lot from them. Also, the disaster we are in right now is not comparable to anything I know off. Anyway, I just wrote a post on AR about the fact that appraisers still get a copy of the contract with the negociated salesprices BEFORE they do an appraisal. We are not even learning right now !!!
This is simply unbelievable.
Anne Hensel broker
Submitted by Brian Wilson on October 24, 2008 - 9:37am.
This is what happens in markets. There are surges and then crashes. The real estate market will always be this way as long as there is leveraged borrowing and scarcity. These are not bad things, they just are.
http://zolve.com
http://thewoodlandsrealestatevoice.com
Submitted by Anthony Myles on October 27, 2008 - 6:11pm.
To Ann Hensel
As Appraisers we are required to have a copy of the purchase & sale agreement.
It is not just to know the sales price, to also know the terms and conditions of the sale. The mortgage lenders & the GSE's require us to do this (check your copy of the Fannie May guidelines).
Real estate agents like to hide the facts required by others, to do their job.
Anthony J. Myles, B.Sc. Eng. M.M.
AJ Real Estate Services
Washington State Certified Real Estate Appraiser
Washington State Appraisal Licensing Department, Review Appraiser.
Washington State Licensed Real Estate Agent.
WWW.ajrealestateservices.com
Submitted by Chris Frantz on November 4, 2008 - 9:07pm.
We better start keeping our posts now. I don't think we are out of the woods yet. This economy is very fragile and I can see certain regions of this country having the same crisis in commercial real estate. Plus we have alot of people upside down in their homes and they are waiting for a reason to walk. I don't want to get political but if this next president raises capital gains or the tax rates we are in trouble.
Chris Frantz
13111 Spring Hill
Spring Hill Fl 34609
352~686~2222
Exit Success Realty
Hernando County Real Estate
www.soldbychris.com
www.springhillfloridarealestateonline.com
Submitted by Harry Ridge on October 1, 2009 - 4:02pm.
This is not the first time we have had a housing crisis but it doesn't look like we have learned a lot from previouse ones. And we are certanily not out of the woods yet. The economy is fragile but there are certain regions of this country, including the
DFW Real Estate market that are holding steady and even seeing modest appreciation. This may be a sign of good things to come.
Harry W. Ridge III
Member, Broker