Friday, October 27, 2006

'Time Will Tell'

From the Sacramento Bee:

Struggling U.S. home builders are monitoring the Sacramento-area housing market for signs it will become first to hit bottom and lead an industrywide rebound, a leading analyst said Thursday.

"Eyes are on the Sacramento market," said Boyce Thompson, editorial director of Big Builder and other industry magazines based in Washington, D.C. "There have been some interesting reports coming out specifically about Sacramento and about Washington, D.C., indicating that those markets may be first to reach bottom and eventually to come back up..."

Yet even as the Sacramento region's builders struggle with falling prices, unsold inventory and cancellations by buyers, many believe they will sell off excess supply within months. "Your market may come back a little earlier than others because you actually fell a little earlier than others," Thompson said. " But time will tell whether that's the case."


Anonymous said...

indicating that those markets may be first to reach bottom and eventually to come back up..."

Give me a break. These clowns never called a top - how can we rely on them to call a bottom??


Garth Farkley said...

Some day the Titanic may be the first great ocean liner to be raised back up from the bottom of the sea.

Because it was the first to sink!

The Slide Show said...

"but time will tell if that's the case"

"Yeh, subject to what happens in the future; what happens may actually happen."

Yes, you may quote me on that in the future, providing there actually is one.

Anonymous said...

I laughed at the term "Struggling Home Builders". These guys have been laughing all the way to the bank. Even with the price slump they are still making big bucks since the cost of building is between 100-200/sq feet including land. Most of the houses they are building are sub standard junk anyhow so its probably more like 125/sq foot average.

JR said...

How did Mick sing it?

T-i-i-i-ime is on my side.
T-i-i-i-me is on my s-i-i-i-de.
Yes it is.....yes it is....