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Voices Member,  in

2006 Flashback: NAR says "Buy Now!"

Asked by Voices Member, Tue Apr 7, 2009

This is Classic NAR Material from 2006. Some may think I made it up becuase it is exactly what all the Realtors still claim 3 years later (after the greatest decline in prices in history), but it is 100% real.

http://www.realtor.org/home_buyers_and_sellers/buy_now_talki…

Conditions are now ideal for buyers. Interest rates are comparable to 40-year lows, and inventories are higher than they have been in decades. Consumers have exceptional choice. But these conditions may not last. August pending home sales rose 4.5 percent, and prices are expected to rise again next year. Even the vice chairman of the Federal Reserve says that the housing market outlook is improving.
Real estate is an outstanding investment. House values rose 88 percent on a national average over the past decade. The number of U.S. households is expected to increase 15 percent during the next decade, creating a continued high demand for housing.
Conditions are improving for sellers. This year will be

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"But these conditions may not last. August pending home sales rose 4.5 percent, and prices are expected to rise again next year." - NAR in 2006
0 votes Thank Flag Link Tue Apr 7, 2009
I sure didn't. I may be a RE agent, but im not in home sales. :)
0 votes Thank Flag Link Tue Apr 7, 2009
Plano: I am sure you never told people to buy in 2006.

Everyone else: This is the funniest thing I have ever seen.

"Conditions are now ideal for buyers. Interest rates are comparable to 40-year lows, and inventories are higher than they have been in decades." - NAR in 2006
0 votes Thank Flag Link Tue Apr 7, 2009
Advertising is just that, advertising. It is not a "you MUST buy now or else!" No one expected this market to come about. I take most advertising with a grain of salt. There is not one company out there that will tell you "Oh nope, not a good time to buy my product" Just like the car industry right now, it’s in the dumps but there are TONS of incentives and marketing ploys out there to get you to buy something. Do you HAVE to buy? Nope! You buy because you want to.

I am still shocked at how everyone blames the RE agents for this market. No one forced anyone to buy a home; no one forced anyone to sell a home. Just like no one is doing it now. Majority of the problem lies with people getting into homes at interest only rates, or homes they just could not afford. The unscrupulous lenders who loaned money to people without verification or money down... knowing they could not afford it. And I still don't know why in the world people were out there bidding way above asking prices for a house that they wanted. We live in a society where everyone wants the biggest and best products out there. Everyone wants to keep up with the Jones'. It is an individuals decision to buy a house, not a real estate agents, not the lenders, not the appraisers, etc. There were a lot of bad lenders, bad appraisers, bad RE agents, but they are the ones who are no longer in business.
0 votes Thank Flag Link Tue Apr 7, 2009
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