{"id":18141,"date":"2013-02-01T08:00:16","date_gmt":"2013-02-01T13:00:16","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=18141"},"modified":"2013-02-01T08:00:26","modified_gmt":"2013-02-01T13:00:26","slug":"the-expected-housing-recovery-faces-a-brick-wall","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2013\/02\/the-expected-housing-recovery-faces-a-brick-wall\/","title":{"rendered":"The Expected Housing Recovery Faces a Brick Wall"},"content":{"rendered":"

Re-emergent house flippers are set to flop. <\/span><\/h3>\n

By Elliott Wave International<\/span><\/h3>\n

In 2005, a mania for residential real estate reached such a fever pitch that a series of cable television shows became entirely devoted to house \"flipping.\"<\/p>\n

Flipping involves buying a worse-for-wear house, making the minimum repairs necessary, then turning right around and selling it - ideally for a fast and<\/p>\n

handsome profit.<\/p>\n

Two years before the housing bust became painfully obvious to U.S. homeowners, EWI's publications warned subscribers that the housing market<\/p>\n

had reached extremes and was about to bust.<\/p>\n

There's no mistaking it now: Extreme psychology ... has taken up residence in real estate. ...<\/p>\n

A significant percentage of the population does not know that a return to earth is implicit in [real estate's] pole-vault to record heights.<\/p>\n

The Elliott Wave Financial Forecast<\/em>, July 2005<\/p>\n<\/blockquote>\n

That issue published around the time the S&P Supercomposite Homebuilding Index peaked.<\/p>\n

The index bottomed in late 2008. Since then, the index moved
\nsideways into late 2011 and in 2012 staged a modest rebound.
\nTake a look at this chart from the November Financial
\nForecast<\/em> (wave labels removed):<\/p>\n

\"\"<\/p>\n

The outburst of over-the-top enthusiasm for home buying turned out to be a great sell signal. The Homebuilding Index lost more than 85% over<\/p>\n

the next 40 months. The rise from its November 2008 low appears to be a ... countertrend rally. ... Near-term excitement has definitely risen.<\/p>\n

Financial Forecast<\/em>, November 2012<\/p>\n

As you might expect, the rebound is accompanied by a rise in expectations for a real estate recovery.<\/p>\n

The head of the world's largest asset management firm sees more than just higher home prices ahead; he sees a return to 2005 levels.<\/p>\n

As the inventory of unsold U.S. homes drops to a more manageable level, the U.S. housing industry is inching closer to a<\/p>\n

complete rebound, [said] BlackRock CEO.<\/p>\n

CNBC, Oct. 4<\/p>\n<\/blockquote>\n

By looking at the chart, you can see how much farther prices have to climb before achieving a \"complete rebound.\"<\/p>\n

What's more, home flippers have returned.<\/p>\n

Property Flippers Are Back as Housing's Middle Men<\/p>\n

Yahoo Finance, Oct. 15<\/p>\n<\/blockquote>\n

Is it safe again to speculate in U.S. real estate? How should
\nyou handle loans and other debt? Should you rely on the government
\nagencies to protect your finances? You can get answers to
\nthese and many more questions in Robert Prechter's Conquer
\nthe Crash<\/em>. And you can get 8 chapters of this landmark
\nbook -- free<\/strong>. See below for details.<\/p>\n

\n\n\n\n
\"\"<\/a><\/td>\n8 Chapters of Robert Prechter's Conquer the Crash -- FREE<\/strong><\/p>\n

This free, 42-page report can help you prepare for your financial future. You'll get valuable lessons on what to do<\/p>\n

with your pension plan, what to do if you run a business, how to handle calling in loans and paying off debt and so much more.<\/p>\n

Get Your FREE 8-Lesson \"Conquer the Crash Collection\" Now >><\/strong><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n

This article was syndicated by Elliott Wave International and was originally published under the headline The Expected Housing Recovery Faces a Brick Wall<\/strong><\/a>. EWI is the <\/em><\/p>\n

world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to<\/p>\n

institutional and private investors around the world.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Re-emergent house flippers are set to flop. By Elliott Wave International In 2005, a mania for residential real estate reached such a fever pitch that a series of cable television shows became entirely devoted to house \"flipping.\" Flipping involves buying a worse-for-wear house, making the minimum repairs necessary, then turning right around and selling it […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4689,169,7948,4688],"class_list":["post-18141","post","type-post","status-publish","format-standard","hentry","category-general","tag-brick-wall","tag-elliott-wave-international","tag-guest-bloggers","tag-housing-recovery"],"yoast_head":"\nThe Expected Housing Recovery Faces a Brick Wall - INO.com Trader's Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2013\/02\/the-expected-housing-recovery-faces-a-brick-wall\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Expected Housing Recovery Faces a Brick Wall - INO.com Trader's Blog\" \/>\n<meta property=\"og:description\" content=\"Re-emergent house flippers are set to flop. 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