 A Nerd's Eye View |
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Fence Sitters Will Be SorryOur favorite housing cheerleader, Chuck Smiar, is back in the news again today with another attempt to scare real estate fence sitters into action. After issuing a warning to hesitating homebuyers that they were "in for a surprise" back in December, Chuck had this to say in a North County Times piece earlier today:
"There's a lot of buyers sitting on the fence waiting for the bottom. And I think if they don't jump in soon, they're going to be sorry."
The accompanying graph displays Chuck's prior suggestions overlaid with San Diego home prices (as measured by the Case-Shiller home price index through January and then approximated using single family size-adjusted median prices for February and March). The timeline pretty much says it all -- I'll just add that I look forward to future installments.
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Well, he did add the phrase "I think" in there. Perhaps he's getting more circumspect as time goes on. Nonetheless, this latest assertion fits right in with his increasingly well-established track record of making statements that, in addition to having little basis in reality, seem pretty clearly intended to frighten people into buying homes.
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