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	Name:	John C -
	Subject:	I liked this one better
	Date:	1/11/2011 4:52:39 PM

I liked this article in the wsj better. I quit listening to the "economists" at Realtor.org 4 years ago. They have totally lost credibility to me and I have lobbied inside the organization that all associations (national and state and local) only issue numbers, not provide any forward looking estimates. I think forward looking estimates by self interested associations are circular at best.

Good news, yes, we finally have some nationally. They are bragging about 10% gains but we are ahead of that.

This also confirms to me the LM is ahead of the nation's recovery. we bounced back in 2009, with # of waterfront homes sold via the MLS was > 40% than 2008. This year (2010) will be about even with 2009. See my blog and read in the Market Statistics category.

Also a positive thing is that we still see some 95% financing in some loan closings. With rates this low, only positive.

True, prices are down, but I have been convinced by studying people that study the numbers that # of homes sold is a leading indicator of average price. That is, watch the trend in year to year sales of # of homes sold, that will tell you where prices are headed. If you want to read my full thoughts on this, google "lake martin voice nicolai kolding" and you can read it. It's only my opinion that Kolding is correct, but I have combed through his numbers and find no cracks. It's not hocus pocus, he studied all major metro markets since like 1980.

URL: Second Home Sales up - WSJ

Other messages in this thread:

View Entire Thread

Vacation Homes - roswellric - 1/10/2011 1:15:37 PM

Vacation Homes - glen7297 - 1/10/2011 3:46:30 PM

Vacation Homes - roswellric - 1/10/2011 5:13:38 PM

I liked this one better - John C - 1/11/2011 4:52:39 PM

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