Archive for June, 2010

800,000 mortgages in California are 30+ days late or in foreclosure. Only 132,000 show up in the MLS. Why there will be no housing bottom for California until at least 2012.

5 housing and financial stories showing profound weakness in the economy: new home sales break past record low dating back to 1963, prisoners using home buyer tax credit, SoCal inventory spiking, U.S. dollar multi-decade slide, and Fannie Mae cracking down on strategic default.

Real Homes of Genius: Culver City home for sale at $925,000 or available for rent at $3,795. The distorted Los Angeles housing metrics point to further price adjustments.

Three reasons why you should be happy about renting in California: Glut of rental housing, mobility, and hedge against future price drops.

21,000 Los Angeles MLS homes versus 58,000 distressed properties. Southern California multi-million dollar CRE default. Retail spending up because rich are bored with the financial crisis.

10 important real estate charts showing no housing recovery in 2010. Collapsing housing starts, Texas Ratio problems, construction spending at trough, and real estate equity evaporated.

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