I heard a radio nooz stroy today that the real estate market may have bottomed ......

[Stinky The Clown]

I only half heard it, actually. They were talking about national trends, but said (at least here in the Balt/DC market) the market appears to have bottomed. What was unclear to me because I didn't catch the beginning of the story, was whether this story was *just* about the local market or if, nationally, it may have bottomed.

The story was full of equivocating terms, so it was being presented as analysis more than fact.

Has anyone else heard a similar story?

[JerseygirlCT]

1. News here was saying that in CT we seem to be behind the

trends... so things haven't hit bottom at all yet here. Not good.

[Hissyspit]

2. Even if it has, how long does it stay at the bottom? That's a major question, too.

[Stinky The Clown]

3. That was the 'bad news' part of what I heard .....

.... prices will bounce around at this level for a while. Up a bit, down a bit ..... but no great changes for the foreseeable future.

[Kutjara]

4. The talking heads have been trying that one on for months.

Those clowns think they can talk the market up with vacuous, unsupported pronouncements. They're shills, the lot of them.

Unfortunately, looking at the catastrophic state of the other key economic indicators, I can't see any justification for calling a bottom. Indeed, in a couple of years, we may all be looking back at these days with wistful nostalgia.

[Greyhound]

16. Every quarter, like clockwork. n/t

[HereSince1628]

5. Jim Cramer of CNBC's Mad Money was interviewed and sad the same thing last Thursday

His comments were treated skeptically.

[Idealism]

7. Jim Cramer is a retard who has cost many people a lot of money

But I guess you are more of a fool to follow one...

[HereSince1628]

8. Just because I watch the mid-day business news on CNBC doesn't

mean I follow Mad Money or Jim Cramer.

Your knee jerk response seems to be in very good form.

[Idealism]

9. Didn't mean how that sounded

Looking bad, the words sounded aimed and they weren't. Simply meant to say something along the lines of "Who is more a fool, the fool, or the fool who follows him" type of thing.

[Warpy]

6. Yes, monthly

It's just happy talk by real estate investors and sales staff trying to make themselves feel better about taking the brunt of the disaster.

I started hearing the story in mid 2007.

They're probably thinking it will have bottomed in the Baltimore-Washington-Arlington corridor because all those new government people will be rushing in. What they don't realize is that an equivalent number of GOPs will be trying to sell.

In fact, the meanest thing the incoming Democrats can do to the GOP is RENT for a year.

I would.

[salin]

10. wishful thinking... banks still aren't lending unless

one has an excellent credit rating - and there is a huge inventory. That suggests that supply is still far outstripping demand (because where there may be a 'demand' in terms of wanting to buy, the conditions limit those who can buy or are willing to buy at the offered terms) - which suggests that inventory stays large - and resets of mortgages still continue, as do lay offs both big contributors to future forclosures and more inventory.

Hard to pragmatically see how the spiral downward has ended and is now going to begin to go up.

[Bonhomme Richard]

14. And workers are still being layed off and for some time...

to come.

[Doctor_J]

11. was it a rerun from a year ago?

:shrug:

[neverforget]

12. Was it the National Association of Realtors (NAR)? If it was, don't

believe a word they say. They have been calling the bottom every month since this downturn began.

[metapunditedgy]

13. Everywhere I go, the market is glutted with new, empty townhomes.

And they keep building them. It's gonna take a long time to clear the market of all the excess unsold units.

[Ichingcarpenter]

15. Some investors are buying repos that are helping the market figures

But it is a false indication of the market and rich people picking up on bargains. I heard that last week on some economic shows I watch.

Watch for new home starts for an indication of a bottom.
They are the lowest in 20 years and last month's news are down 67% in the LA area
they still haven't reached bottom.

I think the guy was pushing wishful thinking.