Comments on: A Tale of Two California Housing Markets: The Financial Gambling Psychology and Exploring the Distress Housing Market. 10 Charts Examining the Volatile California Housing Market. http://www.doctorhousingbubble.com/a-tale-of-two-california-housing-markets-the-financial-gambling-psychology-and-exploring-the-distress-housing-market-10-charts-examining-the-volatile-california-housing-market/ How I Learned to Love Southern California and Forget the Housing Bubble Thu, 09 Feb 2012 06:16:36 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Crimson Wife http://www.doctorhousingbubble.com/a-tale-of-two-california-housing-markets-the-financial-gambling-psychology-and-exploring-the-distress-housing-market-10-charts-examining-the-volatile-california-housing-market/#comment-42221 Crimson Wife Fri, 20 Nov 2009 21:13:11 +0000 http://www.doctorhousingbubble.com/?p=2662#comment-42221 Not everyone who uses VA/FHA is putting a single-digit percent down on a home. My DH and I are going VA because no conventional lender is willing to go 85% LTV on a larger loan regardless of income & credit score. We'd rather not go VA but that's our only option given the current mortgage market. Not everyone who uses VA/FHA is putting a single-digit percent down on a home. My DH and I are going VA because no conventional lender is willing to go 85% LTV on a larger loan regardless of income & credit score. We’d rather not go VA but that’s our only option given the current mortgage market.

]]> By: greeny http://www.doctorhousingbubble.com/a-tale-of-two-california-housing-markets-the-financial-gambling-psychology-and-exploring-the-distress-housing-market-10-charts-examining-the-volatile-california-housing-market/#comment-42168 greeny Fri, 20 Nov 2009 04:06:25 +0000 http://www.doctorhousingbubble.com/?p=2662#comment-42168 Hi RL, I would like to agree & sit back & wait but we have grown out of our apartment & i dread having to move & rent for another year or two. I don't have any thing against renting, i am 41 & have been renting since the age of 19. I am glad i didn't buy 2-4 years ago when everybody was telling me to but now i am ready. Sorry to reply so late as the topic has moved on but i wanted to reply. Hi RL,
I would like to agree & sit back & wait but we have grown out of our apartment & i dread having to move & rent for another year or two. I don’t have any thing against renting, i am 41 & have been renting since the age of 19. I am glad i didn’t buy 2-4 years ago when everybody was telling me to but now i am ready. Sorry to reply so late as the topic has moved on but i wanted to reply.

]]> By: IEbuyer http://www.doctorhousingbubble.com/a-tale-of-two-california-housing-markets-the-financial-gambling-psychology-and-exploring-the-distress-housing-market-10-charts-examining-the-volatile-california-housing-market/#comment-42167 IEbuyer Fri, 20 Nov 2009 02:11:13 +0000 http://www.doctorhousingbubble.com/?p=2662#comment-42167 At the bottom of the market, here in the Inland Empire, it is almost impossible to buy a distressed property with FHA financing. I have been trying for 9 months but the banks always go with the cash offers, even if they are for less money. Most distressed houses also need repairs and do not meet FHA standards. Banks are unwilling to put a dime into repairs and would rather sell the houses off to cronies or investors (or do I repeat myself) for 60 cents on the dollar. This is in the 100-125k range. At the bottom of the market, here in the Inland Empire, it is almost impossible to buy a distressed property with FHA financing. I have been trying for 9 months but the banks always go with the cash offers, even if they are for less money. Most distressed houses also need repairs and do not meet FHA standards. Banks are unwilling to put a dime into repairs and would rather sell the houses off to cronies or investors (or do I repeat myself) for 60 cents on the dollar. This is in the 100-125k range.

]]> By: martin http://www.doctorhousingbubble.com/a-tale-of-two-california-housing-markets-the-financial-gambling-psychology-and-exploring-the-distress-housing-market-10-charts-examining-the-volatile-california-housing-market/#comment-42114 martin Thu, 19 Nov 2009 03:44:36 +0000 http://www.doctorhousingbubble.com/?p=2662#comment-42114 I would like to add to my previous post. The statistics may show that prices many other decent areas, may have fallen 20 to 30% and are barely rising now, but that is not the real world. The house and condo sales that created those statistics were for the most part for the well connected or the all cash buyers. There is no question the "barrios" did decline and prices were available to all but anywhere else, not a chance. Again, I am talking halfway decent areas within ten miles of the coast. I would like to add to my previous post.

The statistics may show that prices many other decent areas, may have fallen 20 to 30% and are barely rising now, but that is not the real world.

The house and condo sales that created those statistics were for the most part for the well connected or the all cash buyers.

There is no question the “barrios” did decline and prices were available to all but anywhere else, not a chance.

Again, I am talking halfway decent areas within ten miles of the coast.

]]> By: RL http://www.doctorhousingbubble.com/a-tale-of-two-california-housing-markets-the-financial-gambling-psychology-and-exploring-the-distress-housing-market-10-charts-examining-the-volatile-california-housing-market/#comment-42093 RL Wed, 18 Nov 2009 15:27:27 +0000 http://www.doctorhousingbubble.com/?p=2662#comment-42093 Greeny: You need to wait!! My husband and I seem to be in the same position as you and your wife (about 200k combined income, plenty of savings, no debt) . We have been waiting for over five years in LA and now in OC (for the last 3 years we have been waiting with our son). The market is still not rational at the mid to upper end. What is so wrong with renting? Why do you want to give this corrupt industry so much of your hard earned $$? I am 35 and my husband is 40. We may never own a home in socal!! This may seem unusual, but we want to preserve our marriage and family. Greeny:
You need to wait!! My husband and I seem to be in the same position as you and your wife (about 200k combined income, plenty of savings, no debt) . We have been waiting for over five years in LA and now in OC (for the last 3 years we have been waiting with our son). The market is still not rational at the mid to upper end. What is so wrong with renting? Why do you want to give this corrupt industry so much of your hard earned $$? I am 35 and my husband is 40. We may never own a home in socal!! This may seem unusual, but we want to preserve our marriage and family.

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