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Not Again! A Real Estate Market Update

Not Again! A Real Estate Market Update by Bill Roberts

This morning on the CBS Early Show Mark Zandy, the Chief Economist for Moody's economy.com said that he expects another 10% decline in real estate values over the next twelve months.

Why are they doing this? Haven't they fueled this market decline enough? Since markets are basically driven by psychological factors they are the problem. The mass media provides the information that most people use to make their decisions. If that information is faulty, then their decisions will probably also be faulty.

These so-called experts have a responsibility to all of us to stop spreading these negative opinions. After all, they are only opinions. TV allows them to promulgate these ideas to the general public. The public responds to this kind of "information." Their response makes the pronouncement correct. A self-fulfilling prophesy.

There is a lot of anecdotal evidence that we have reached a bottom, or are very close to it.

It is our duty to counter these TV "experts." We can't let them call the tune.

Watch this:

Posted by Bill Roberts - "Baby Boomer" Retirement Planning on 02/27/2008 11:18 AM

Comments (17)

bill roberts real estate, investment real estate, real estate investing, baby boomer retirement planning

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17 Comments on Not Again! A Real Estate Market Update

FEB

2008

Bill - I didn't see it but you're right....this does nothing for morale. Besides, I wonder if Mr. Zandy was astute enough to also reveal that Real Estate is Local and not National? Some markets are in really good shape and actually getting better!

Bill, it is how the sell their commercials. The don't disclosure their holdings now do they. I often wonder if they the media companies don't have their own agenda.

Goodness. Don't you have cable?

Bill, If my market only declined another 10% I'd be a happy camper!! But that's my market, not the nation. I just don't like broad strokes. There are areas where values are actually increasing. Maybe they should talk about those some more.

Frank, I would like to know if there is a hidden agenda. Didn't Moodys take a hit on rated those MBS?

Bill Roberts

Jason, I think the message has to be "Now is the time." I just added a video. Please watch it.

Bill Roberts

Lenn, I just like to keep up with what the real people are doing.

Bill Roberts

Well do Bill.

BB, I thought you made a pretty good case for buying in Poinciana NOW.

I was actually tempted to come down there and make an offer on something. You know, Buy and Wait rather than Wait and Buy.

Bill Roberts

Bill, thanks for sharing this. I missed this. I am glad others are around to catch things I miss.

Dave, It is all of our responsibility. Nobody can look in all directions at once. Thanks for commenting.

Bill Roberts

The news media coverage is so powerful, and the ratings and advertisers contribute to the sensationalized stories.

Kathy

Bill: The media should be reporting that now is a good time to buy. Now is a good time to find quality investments and people need to act before these conditions change. The FHA will probably buy all the "good apples" if Congress has their way about it. Investors need to call us now.

Kathy, You got it. Thanks.

Bill Roberts

Jan, I thought they were calling you. Oh well.

BTW did you get your points for participating in our contest? I need feedback on this to see if I need to follow up with AR. Thanks.

Bill Roberts

Bill - Same old story, isn't it? If we used our heads, we'd all realize that the time to buy anything is when prices are down, and the time to sell is when they are up. But there are so many doom sayers out there right now that the average person thinks, "Things are bound to get worse if I buy property now, so I'll just wait." Maddening, isn't it? Btw, nice video!

Ken Tharp, Iowa Equity Exchange

Ken, Its only maddening if you expect to convince everybody, but if you are working with a limited number of people who trust your judgment then these are good times indeed. Thank you.

Bill Roberts

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