UtahCribs Weblog

Real Estate, Homes, News, Statistics and more

Market Comming Back?

Posted by UtahCribs, Real Estate, Homes on June 30, 2008

You may think he’s up in the night but here you have the national association of Realtors chief economist saying the market is on it’s way back.  I also read a similar article from Zions Bank chief Economist last week-  Maybe it’s time to buy…..I am looking if that give you any indication!   READ ARTICLE

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5 Responses to “Market Comming Back?”

  1. Brad Miles said

    I liked this article. I also saw an interview with the same economist and he was really high on real estate in the mountain states. I anticipate things picking up even more the next couple months.

  2. jake breen said

    Thanks for commenting Brad. WE appreciate everyone’s input!

  3. Jason said

    The squawk box continues… Guys, these e-mails are not wise nor are they founded on any statistical or economic indicators. Anyone “selling” that the market has crashed and/or that the market has hit the bottom is doing so out of selfishness. The argument that the worst is behind us in uneducated and ridiculous. If the best interest of those reading these posts is truly in mind, then let’s be “sell” the truth.

    The natural laws of economics are at hand here. A true correction will take place. It always does. Look at the market in 30 year cycles and you will see a clear patter. We are on the path to a DOW 6000 and the real estate market will follow suit. The time to buy is not today. 3rd quarter earnings were horrible across the county, the christmas season (where retail sales are usually the highest) will be the lowest in more than 10 years, 4th quarter earnings will be low, people are losing their jobs everyday and companies continue to need bailout money. And now is the time to buy? Seriously, the time will come, but it is not today, it is after the dust settles sometime next year. And then earnings will not be bullish, including real estate equity until some time in 2010.

    Let’s keep it real!

    Jason

  4. Jason, We appreciate your comment and appreciate you reading the blog. Please give me the opportunity to respond. I understand your criticism. Seems as though the world is coming to an end. Rumors say the down will hit 8000, then 7000 and now you rumor 6000 and you may be correct. I also encourage you to use your same incite you posed to us though…..do you realize (great depression INCLUDED) the top 10 year DOW DROPS in history are followed by 7 of the TOP 10 DOW GAINS in history the next year!
    I agree with you, IT’S BAD and NO ONE can perfectly call a bottom. However, what you suggest in your comment is WAITING to see a TURN around…..THEN when analysts tell you things are IMPROVING (say in 2010 as you suggest) you will follow the HOARDS of other people listening to the media who decide to BUY since the DOW MARKET CRASH IS OVER.
    The question is, who do you trust more? The general public who follows the crowd and finally decides to spend together and turn this market around?
    OR do you trust Warren Buffet who tells us that he can’t time the market but he does buy when it’s down (the best time to buy). And what is he doing NOW? Buying, buying, buying.
    And NO Jason, I am not trying to “Sell” my clients becasue I am in need of money…..I have never professed to be a “slick rick” salesman. I provide them with REAL STATS as opposed to Market Media stories. I am also qualified to do so: as a Broker for the top selling company in SLC, a Masters Degree, One of the Top 5% of selling agents in our local market and stats all drawn from the US Census Bureau and our local MLS of which I have been a member for 5 years. I also out my money where my mouth is…..I am BUYING. In the past 4 weeks I have bought: Wells Fargo stock, Bank of America stock, Line Energy stock, and a lot up Emigration Canyon. And Guess WHAT? the stocks I have bought went DOWN the last 2 days…..big time….and guess what I did this morning? BOUGHT MORE!
    I would rather follow Buffet and his proven tactics than sit in despair until the media tells me to buy.

    If ANYONE reading this would like MORE IN DEPTH STATS ON ANY local Real Estate, please e-mail me at jake@utahcribs.com

    Thanks for tuning in!

  5. Spencer Janke said

    It was nice hearing from you. I love getting other peoples insights on this crazy economy of ours.

    Keep coming back and reading, look forward to seeing you again one of these days.

    Thanks

    Spencer Janke
    spencer@utahcribs.com

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