Thursday, December 8, 2011

If you say so.

"Business Insider" says Bend will be the best housing market over the next five years.

Uh.....if you say so.

I'm posting this so that I might get some second opinions from some of the other bubble bloggers. This seems based on nothing more than the fact that we've dropped so far....which seems like a dubious reason.

What say you?


Duncan McGeary said...

Or, conversely, do you buy it?

My instinct is that the economy isn't good enough, that there are too many houses....

Bend Economy Man said...

It's silly puffery. There is no way. Bend RE has further to fall if you can believe that. Seriously, mark my words: another 25% at least in the next 3 years.

There's no jobs, and no people moving in. Absolutely no reason why house prices would rise in Bend in the next few years.

Duncan McGeary said...

Thanks, Bem. That's what I thought, too.

Same B.S. you hear about Christmas spending, by the way.

H. Bruce Miller said...

Sounds like yet another variation on: "Thing have to get better 'cause they can't get no worse!"

These cycles typically take 10 years, peak to trough. Peak was in 2006, so bottom of the trough should be in 2016. Might be later even because the local market is so overbuilt and the national economy is so shitty. People ain't buying homes because they ain't got no money. It's just that simple.

Of course during the bubble years they didn't really have any money either, but the banks were willing to overlook that then.