No Forecasts - Just the Facts
January 10, 2008
This week I have posted the data from the MRMLS regarding transactions in a number of communities in the Riverside/San Bernardino region. As the year progresses, I will post data and we will see if trends emerge.
Every economist and news reporter seems to feel the necessity to project the future of the housing market. Obviously it is important for decision makers to know how to plan their business income and expenses. Looking at what has happened and keeping up what is happening is the foundation of planning.
Just as an aside.....Look at the New Hampshire primaries. Even Hilary Clinton's strategists thought she would lose significantly but she won! Now, if you listen to commentators they are interviewing pollsters and asking how they could have been so mistaken. Forecasting how human beings will act is clearly not an exact science.
So, too, with the purchase of a home and the trends in the real estate market place. Way back in the 18th century, Scottish philosopher David Hume raised the question, "How do we know (and "Know" is the important word) that the future will resemble the past?" I have followed the real estate markets of the past 40 years in Redlands and have seen that the peaks are typically 10 years apart and do not last forever. We have had our peak, probably in 2005, now the dust will settle and we will watch how the trends will emerge.
This week I have posted the data from the MRMLS regarding transactions in a number of communities in the Riverside/San Bernardino region. As the year progresses, I will post data and we will see if trends emerge.
Every economist and news reporter seems to feel the necessity to project the future of the housing market. Obviously it is important for decision makers to know how to plan their business income and expenses. Looking at what has happened and keeping up what is happening is the foundation of planning.
Just as an aside.....Look at the New Hampshire primaries. Even Hilary Clinton's strategists thought she would lose significantly but she won! Now, if you listen to commentators they are interviewing pollsters and asking how they could have been so mistaken. Forecasting how human beings will act is clearly not an exact science.
So, too, with the purchase of a home and the trends in the real estate market place. Way back in the 18th century, Scottish philosopher David Hume raised the question, "How do we know (and "Know" is the important word) that the future will resemble the past?" I have followed the real estate markets of the past 40 years in Redlands and have seen that the peaks are typically 10 years apart and do not last forever. We have had our peak, probably in 2005, now the dust will settle and we will watch how the trends will emerge.
posted by shirley harry at 9:05 AM
0 Comments:
Post a Comment
<< Home