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-- sentiment jumped to a seven year high this month according to the national association of homebuilders but with foreclosures rising and high unemployment.
Is this kind of growth sustainable joining us now -- the host of the popular web based program national real -- Show regulars Brian Stevens.
And frank -- oh.
Be still my heart with the -- at home but that anabolic.
Obviously we're getting the mullets gone now is it -- -- okay.
It was it was an accident and -- that's Reich's idea I don't want to get in Iran I still see a little turtle thing there OK let's get right to this story.
At age three has a seven year high on sentiment are you a -- -- -- variety -- get the -- Other happy the homebuilders are happy -- -- just -- that very excited yet having a bipolar -- out there you just never know what you're gonna wake up when a you know when you look at like and when you look -- like consumer sentiment it makes more sense because there's real teeth -- that people spend their money.
But the home builders' sentiment they're feeling better about things right now.
The fact of the matter is is it doesn't matter if they're happy or sad what -- sentiment as if they're they're going to build houses of people are going to -- -- right now folks -- buy a house.
And frank -- you -- -- -- this because it is the industry itself but they are trying to present a picture a positive body.
Yeah well of course I mean bit.
I don't know if we necessarily -- sentiment involved you know I mean we've got housing starts we have other economic data that comes out here to say that we're just kind of we just kind of -- the fact that we have -- you know sentiment how they're feeling about things.
-- -- -- Well I want you to consider this so that the rating came in at 52% right now.
To give me an idea anything over fifty means that over half of those polled say the housing market is good.
And if you look at where they were just a few years ago when they're selling off their land for pennies on the dollar just to stay in business right now -- sentiment shouldn't be 52.
They're set and it should be pop the champagne let's have some -- because this is the roaring twenties compared to where we came.
From now you put the sweet tarts forgets -- -- with the sweet -- in the champagne and drink the fist.
Okay and then something -- your intestines Saddam that was the that was sort of big gap right now is -- -- admit -- could -- about what we.
We're a number that -- that foreclosures were jumping 11%.
In the last month did you have worry -- -- view either you.
Well I you know I think that it it makes a lot of sense to me because EC home prices really escalating across the country and so now you know banks are gonna go hey.
And let's start this foreclosure process here again you know I don't learning all the glory yet get that shadow inventory exactly what's OPEC.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And they've got a you know a ton of buyers right now we simply don't have the inventory to support the level buyers that we currently say.
Let's say you're talking to sellers right now.
What do you say to them and then conversely what are you say to buyers.
Well right now with sellers I mean let's look at this so we did the realty track came -- -- -- we have 850000.
Properties in the first quarter this year.
That are now in positive territory which means they can buy and sell house is now where they simply couldn't do before yeah we've been in this recession for seven years.
In those seven years we've seen -- expand people are having kids kids are going away to school so people that couldn't move their properties in previous years can now do it.
And that's a positive -- -- not only are we gonna have some more inventory out there from the foreclosures but folks listing their houses right now they're doing it may simply because they can't and they need to address the -- for the camera.
-- -- -- -- a buyer with a couple of kids in May be a paycheck that's a little bit bigger than it was 2 years ago what am I just gonna have to scratch and claw my way through the the -- you're upping the bids in the private -- you guys were buying a lot of foreclosed properties it's not a buyer's market right now isn't it.
It's not a buyer's market but I say it's worth the fight.
I mean I would definitely suggest yet get -- roll the sleeves minority means start getting alone improve that sort of thing and looking at it because.
It's just it's just a terrific it's a terrific terrific time now you know.
There is speculation maybe you'll see a bubble again or something like that I don't know -- -- if we do see something like -- anywhere near as bad as what we did -- but I would say absolutely right now you can get in Guinea and the rates are still grade you know will sleaze.
We're still -- -- hasn't come up to knock this and that and that in the gotten in January so now's a good time to move on.
-- if you guys have fed of fed chief Ben Bernanke's -- -- what would you say they have is he created a bubble or no -- -- keep going -- Now I've got -- to leave it leave everything alone does leave everything alone I don't think we have a bubble again if we have anything it's an inventory issue right now.
Rates are still fantastic it if you're getting a rate right now for even for a half -- 5% you're seeing rates lower than they've been literally for the past fifty years that historically the market -- -- the markets fine right where it sat.
-- did you miss the bottom at least for the moment but it's still historically very -- good to see a boat -- And and yeah okay the -- where we're liking it we're absorbing it where we're really -- about it they're thinking about it so thank you.
I'm I'm glad you like it was because he intends to ask you out after the show up hey how to bring your pigment well maybe he's got that big home.
Really hot Brad Stevens and my pregnancy about thanks very much David you -- -- --
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