We often quote Rick Sharga of RealtyTrac here.  He often has better data and less spin to his analysis than we generally see quoted.

Sharga appeared on Bloomberg on Monday.  I thought the interview was good enough to post here.  Sharga discusses the general state of the housing market, what’s selling and what’s not, as well as mortgage trends.

Note his comments about the lack of a move-up market.  While sales are generally brisk at the lower end of the spectrum, the upper end is dead.  That’s going to continue to put downward pressure on prices.

It was also interesting that Sharga stated that 40% of all renters state now they don’t ever want to own a home again.

It’s true that people are not always honest on these surveys.  It could be that folks that can’t see themselves ever being able to purchase a house might just say they aren’t interested.  Even if that’s the case though, these folks are unlikely to ever buy a house.

The last take away here–

When Sharga was asked about bright spots in the houising market, he pointed to Alaska and North Dakota.  Those hardly rank as “spots”, “dots” might be a more accurate term.  Anyone who wants a bright spot in housing is going to have to look for and make their own opportunities.  The easy spots are gone.

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