Now that IYR broke its trendline, the slippery slope is kicking in.
Real Estate Breakdown Accelerating
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Ready, Set, Sold
The Only Bearish Chart I Dislike
Yep, you guessed it. This is the value of my family’s principal residence. My net worth has gone down $3 million from this one asset over the course of three years. In other words, the value has been thrown back to 2015. Worse yet, anyone see a head & shoulders pattern? I sure do! I can only take comfort that we bought it in 1991 when it was half a million bucks, and there are countless poor bastards that paid the sickening values at the peak who actually HAVE lost millions (instead of just lacking millions that were never really there in the first place). Imagine having a mortgage bigger than the value of your house AND having to pay property taxes twice a year based on the inflated price you paid! Oh my gard.
(more…)Don’t Forget IYR
Let’s face it, the market might be a snooze-fest until Thursday morning, so let’s trot out at old favorite ETF, which is IYR, the real estate fund. This hit a major bottom on October 13th (of course) when it tagged its Fibonacci retracement level, and it recovered almost all the way up to the next Fib higher. Since then, it is meandering, but I’ve gone ahead and acquired some March $88 puts on this sucker.
Redfin Falls Into The Red
