Is That Bouncing Sound I Hear The Bottom Of The Real Estate Market?
According to Wellesley University professor and housing market guru Karl Case, that may very well be the situation we are seeing. The historical trends and demographics of new home starts and sales data are showing what has in the past 40 years show the bottom of the housing market.
Now, I profess to have all the knowledge that Karl Case has on this, and to be honest the housing index he is associated with, that Case Shiller thing that his partner is always shilling, I have never been a huge fan of. However, it seems like Robert Shiller is the poster child of talking the market down. Now Karl Case comes out of the shadows and tells us that the bottom is upon us.
I tend to listen to the quiet guy when he speaks.
Case is basing his optimism, which stands out in a sea of gloomy predictions, on a key economic indicator. It’s not the first time he’s courted controversy. Back when real estate prices were headed skyward, Case was a lone voice predicting a painful real estate downturn.
“Every single time we have gotten to this point, at this time, almost to the exact decimal point, things start to rebound,” Case said.
According to Case, the decline in housing starts nationally has reached a key threshold, dropping below the 1 million mark last month.
Over the past 30 years, this has signaled the end of a real estate market downturn. Housing construction rebounded sharply in the ’70s, ’80s and ’90s after reaching this low point, Case said. via the BostonHerald.com
My mom told me to put the statue in the ground, just seems wrong to me but I did it. ...
What about RE/MAX Commercial? Where this classification came from?
I am pretty sure RE/MAX Commercial in volume sales must be above ...
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
Pingback by Optimistic Investors Finding Deals In San Francisco — The Real Estate Bloggers on 9 May 2008:
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Comment by tglennon on 9 May 2008:
No, the sounds you hear are the bodies bouncing off the parapets as they make their way to the real bottom. 30 years of data of which none reflects upon the current crisis in housing, the situation we are in is way beyond the norm. The piper must be paid.
Comment by Mike on 15 May 2008:
It sounds to me like he is saying the decline in HOUSING STARTS should turn around. That has NOTHING to do with prices stabilizing. In fact, if you look back to 1990-1991 you see the starts bottoming but prices did not start back up until 1995-1996. That is a huge time lag…
Pingback by Case Shiller Shows 15.4 Decline in 2nd Quarter, 2008 : The Real Estate Bloggers on 26 August 2008:
[...] This analysis is consistent with what Karl Case (The Case in Case Shiller) said in May. [...]