Archive for March, 2011

Prime Pasadena zip code has a home selling for 41 percent off peak price – When flips go wrong. Los Angeles Case-Shiller negative year over year again.


California home prices 50 percent off March 2007 peak – Why California home prices will be impacted by multi-year state budget deficits, higher interest rates, and a backlog of distressed properties.


The worst housing crash in history is official: Lesson from the Great Depression Part 29. New home sales fell 80 percent from 1929 to 1932 and fell 82 percent from 2005 to 2011.


Beverly Hills short sale selling for $2.15 million and below the $3.3 million in loans. Beverly Hills has 3 foreclosures listed on the MLS but 107 are currently active.


Debt built society – Last decade saw negative real household income gains yet the sharpest rise in home values ever. Household debt and dual incomes hid the collapse of real per capita wage growth. Home values destined for a stagnant decade ahead.


FHA low down payment buyers and cash investors dominate Southern California housing market – Not a healthy market when over 63 percent of sales come from these two groups. Move up sellers unable to shift because of negative equity.


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