GLG News by Mr. Kenneth Egan, Former Broker and Realtor
GLG News is now G+ Insights
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G+ is a community for professionals, academics and entrepreneurs to connect through online discussions and in-person meetings. You will continue to see G+ Insights (formerly GLG News) here as well as on the G+ website, where you can share and discuss the G+ Insights you read.
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Home prices will continue to fall
September 27, 2011
As a professional who has tracked housing prices for nearly 50 years, on the East and West coasts, I unequivocally believe that housing prices will continue to fall.
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It's like the ocean--there is always another wave coming.
November 24, 2009
Existing-Home Sales Jump 10.1% | online.wsj.com
Think for cash for clunkers--see any similarities?NAR reminds me of a smoke machine--keeps blowing smoke.FHA requires a whopping 3.5% down--see a trend here??We will quickly run out of "investors".
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November 20, 2009
Fear of Double Dip in Housing | online.wsj.com
No matter what the spin, facts are irrefutable.3.5M houses in foreclosure trumps the NAR story about lower inventoryMore than 3 times the current number of foreclosures are in pre-foreclosure.2010 and 2011 will see great numbers of foreclosures.
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November 20, 2009
A sector too tough to save | online.wsj.com
Banks, with government support, will "pretend" over the value of Commercial Assets.Loans will be, for the most part, extended, in order that no one has to take a "hit"Kicking the can down the road, as usual.Some modifications will be worked out.
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October 29, 2009
Uncle Sam Adds 5% to Prices of Homes, Goldman Says | blogs.wsj.com
Government intervention eliminates the "Free-Market" concept.This is politics as usual...kicking the can down the road.Pres. Obama is not bringing about change(I am not against him).Cash for clunkers applied to home purchase will not fix the problem.
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Market Inertia caused by Capital Unavailability
October 13, 2009
Experts Probe Capital, Distressed Assets Outlook | www.globest.com
Banks are still not performing.Capital needs to flow more freelyMarkets will continue to depress
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Reality always trumps hyperbole
September 30, 2009
Stocks waver on housing, consumer confidence data | www.wtop.com
Housing will continue to slide.Consumers are tapped out.What do we expect?
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April 28, 2009
Opus South Files Chapter 11 | www.globest.com
The worsening of the economy is far from over. While the commercial sector is the next debacle, destination resorts, golf communities and others will follow. Residential prices will continue to fall.
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How expert are the experts? Why the spin??
April 8, 2009
Area Home sales, prices down | www.bendbulletin.com
Real estate prices continue to fall. Real estate experts are trying to spin data constantly. The media uses poor sources to interpret data--kind of talking to the fox about hen-house defenses.
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March 11, 2009
Pending home sales hit record low | money.cnn.com
NAR pays his salary. Yun has not integrity, or is just plain out of touch with reality. Yesterday Bernacke said the recession will possibly end by the end of this year. These guys should form a club. Perhaps economists do not ever take courses in reality.
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Hang onto your hats in 2009(and your cash)
January 2, 2009
Deschutes County defaults up 228% in '08 | www.bendbulletin.com
We are sliding deeper into a worldwide depression, but the situation is not that bleak for all. Home prices will eventually be where they should have been all along. The fed program to save homeowners is a total bust.
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November 28, 2008
Consumer Search Trends Show Increased Interest in Real Estate by Potential Home Buyers | www.marketwatch.com
Eventually their lack of honesty destroys their credability. Prices are still to high to encourage buyers.
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November 27, 2008
Consumer Search Trends Show Increased Interest in Real Estate by Potential Home Buyers | www.marketwatch.com
hits do not equate to demand. Could be looking for comps for foreclosures. There are still 2M built and vacant homes and condos, and "prices"(asking price) have not dropped to where they need to be for a healthy market.
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October 10, 2008
Bend Bulletin | www.bendbulletin.com
As prices go down, sales will go up. A former "hot" RE market is still desirable--fundamentals do not change
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Banks need a catalyst for action
October 10, 2008
Default Notices continue to pile up | www.bendbulletin.com
Banks are between a rock and a hard place. They need to be pushed to mark to market their troubled loans Until these loans get cleaned up, there will be total stagnation in the markets, both credit and housing.
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September 3, 2008
Market Report: Sunshine State? | www.multihousingnews.com
We are still years away from any turnaround in the RE market. Prices will drop to 2000-2001 levels before confidence is restored. Affordability is not where it needs to be, and "investors" are gone.
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August 28, 2008
Some Fear Commercial Property Loans Will Be Next Stage in Downturn | www.nytimes.com
Good points, but a lack of industry oversight and planning make this a fact of life. Where is the economic planning in the U.S.A.? Relationship building is a key element of business.
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When data is vague or inconclusive, look at the real world
August 28, 2008
July Existing-Home Sales Show Gain | www.realtor.org
More loans are going into default and foreclosure, not only of the borrower, but now the builders are running out of cash. The downward spiral is not yet at midpoint, and will continue down for several years. What makes one think that prices will trend up in general, at any point in the next several years, when banks are trying to shore up their balance sheets and hoarding cash?
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May 9, 2008
Land writedown hits DR Horton | uk.biz.yahoo.com
We are Reaching a Point Where Public Corporations cannot hide from the market facts--we are also just at a midpoint in the overall RE crisis, and there is more writeoff to come. With 2.3M vacant homes in the U.S., we will continue to see downword price pressures until this number returns to well under 1M. If new construction and foreclosures add to the inventory, we will see price reductions of 30-40% in the next two years.
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April 29, 2008
The Bottom Is Up Ahead | www.washingtonpost.com
The government is powerless. Wall Street is delusional. The financial system is in trouble, AND IT WILL GET WORSE.
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