Listen to Wayno
Wayne Nef says....
"Again, I would not join in to the rally at this point, I believe this is a dead cat bounce. Once momentum starts to wane I would look to enter short positions across a basket of these stocks since I believe this downturn has further to go. Absorbtion rates in many towns in the Northeast have more than doubled and I believe there is good potential for more houses to hit the market in the spring. Housing prices have been headed down over the past year and I believe they still have further to drop.
The Japanese real estate market took ten years to drop 50% from their highs, and so far, no one has convinced me that it can't happen here. The U.S. housing markets have just had an unprecedented move higher since 1998. I am a firm believer in mean reversion, and unfortunately, when markets overshoot to the upside they oftentimes over correct in the opposite direction as well. All said, I am a housing bear."
Full interview with Wayne, a regular Jersey Guy.
Would Jean approve of this Wayne?
"Again, I would not join in to the rally at this point, I believe this is a dead cat bounce. Once momentum starts to wane I would look to enter short positions across a basket of these stocks since I believe this downturn has further to go. Absorbtion rates in many towns in the Northeast have more than doubled and I believe there is good potential for more houses to hit the market in the spring. Housing prices have been headed down over the past year and I believe they still have further to drop.
The Japanese real estate market took ten years to drop 50% from their highs, and so far, no one has convinced me that it can't happen here. The U.S. housing markets have just had an unprecedented move higher since 1998. I am a firm believer in mean reversion, and unfortunately, when markets overshoot to the upside they oftentimes over correct in the opposite direction as well. All said, I am a housing bear."
Full interview with Wayne, a regular Jersey Guy.
Would Jean approve of this Wayne?
posted by Little_Silvered at 9:35 PM
8 Comments:
Maybe, finally, the hard working first time buyer will be able to afford a decent house in Monmouth county.
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It looks like the idiots are still posting on this blog. Seems that those Kara stories have really attracted a bad element here. Hope we don't go back to having to register to comment. I used to enjoy reading and posting on this blog.
I'm not surprised there are a lot of pxssed off people out there. Somebody had to buy at the top.
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