Wednesday, May 21, 2008

Those Crazy Realtors

A local real estate agent (who shall remain nameless) recently sent a friend this Op-ed piece from the Wall Street Journal. along with this comment:

"Here is an interesting article I thought you might enjoy. It is a bit wordy but very good national information about the real estate market. Remember, the article is referring to our market nationally.

Oregon real estate is still relatively strong!"

Wow. 2 pages is wordy? Are her clients illiterate on average?

I also love that this piece really refers to the national market, and specifically talks about new housing starts, neither of which really apply to Oregon or Portland specifically.

But my favorite is the last line. If relatively strong means we've only dropped 7% when the rest of the country has dropped 10% or more, then yes, we're relatively strong.

It must be exhausting staying that optomistic all the time!

4 comments:

Anonymous said...

More buy now or be priced out garbage. Yet another call of "bottom". Why would a hedge fund manager be interested in jump-starting the housing engine again.....? hmmm...

Anonymous said...

But you don't understand. We're poised for another run like 2003-2006, 20% yearly appreciation, etc.

After all, there are a million more people moving here in the next 20 years which will make the average 2BR 1BA bunglow worth close to 3 million bucks. When the rest of the world finds out how fabulous Portland is what with all the trendy restaurants and all, that could draw another million or two here.

Anonymous said...

After all, there are a million more people moving here in the next 20 years

No, a million people will be moving here over the next 20 months!

MiTurn said...

Used car salesman. . . .realtor. . . used car salesman . . .realtor. . . six of one, half-dozen of the other.