Comments on: State of the State: California Budget and Housing Situation. Backroom Deals, Screaming for Paulson, and Understanding Revenues. http://www.doctorhousingbubble.com/budget-finance-california-budget-and-housing-situation-backroom-deals-screaming-for-paulson-and-understanding-revenues/ 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: Evelyn C http://www.doctorhousingbubble.com/budget-finance-california-budget-and-housing-situation-backroom-deals-screaming-for-paulson-and-understanding-revenues/#comment-33210 Evelyn C Mon, 16 Feb 2009 04:30:32 +0000 http://www.doctorhousingbubble.com/?p=1401#comment-33210 Can someone please explain to me what these deluded idiots in Sherman Oaks and Studio City are doing? Here is a house in Studio City that was purchased for $530K in 2000 (which was already to high in my opinion) and now they have the audacity to list it for : $1,269,000 4215 Lemp Ave Studio City, CA 91604 Beds: 3 On Redfin: 38 days Baths: 2 Year Built: 1950 Sq.Ft.: 2,030 Lot Size: 10,301 sf $/Sq.Ft.: $625 MLS#: F1794791 Status: Active Last Sale: $530,000 (09/08/2000) Do they not know we are in an economic crisis in the United States and that it all stems from the ridiculous housing boom? There are many more even worse than this. People who bought in 2008 are now listing their homes for higher prices than they paid last year. Are they out of their minds? Are the realtors that are working with them also loosing it? The prices in these two areas are coming down much slower than anywhere else. This is why the comps are so high in this area. Are they manipulating the comps? Isn't that illegal? Help me to understand ...please. Who is still buying at these heavily inflated prices ? Talk about con artists...that's all these realtors are, if they can convince people to buy at these prices. Can someone please explain to me what these deluded idiots in Sherman Oaks and Studio City are doing?
Here is a house in Studio City that was purchased for $530K in 2000 (which was already to high in my opinion) and now they have the audacity to list it for :
$1,269,000

4215 Lemp Ave
Studio City, CA 91604

Beds: 3 On Redfin: 38 days
Baths: 2 Year Built: 1950
Sq.Ft.: 2,030 Lot Size: 10,301 sf
$/Sq.Ft.: $625 MLS#: F1794791
Status: Active
Last Sale: $530,000 (09/08/2000)

Do they not know we are in an economic crisis in the United States and that it all stems from the ridiculous housing boom?
There are many more even worse than this. People who bought in 2008 are now listing their homes for higher prices than they paid last year. Are they out of their minds? Are the realtors that are working with them also loosing it? The prices in these two areas are coming down much slower than anywhere else. This is why the comps are so high in this area. Are they manipulating the comps? Isn’t that illegal? Help me to understand …please. Who is still buying at these heavily inflated prices ? Talk about con artists…that’s all these realtors are, if they can convince people to buy at these prices.

]]> By: compass rose http://www.doctorhousingbubble.com/budget-finance-california-budget-and-housing-situation-backroom-deals-screaming-for-paulson-and-understanding-revenues/#comment-33166 compass rose Sun, 15 Feb 2009 17:46:50 +0000 http://www.doctorhousingbubble.com/?p=1401#comment-33166 Re: 2/12--my comment appears to have gotten munched or lost...I wanted to tell Expat that we financial/real estate heretics all need a vacation. South of France sounds good. ;D ~ I wanted to add this link from the Sunday NYT on the new Senate minority whip, Eric Cantor, which is also a portrait of party politics uber alles at a time of national emergency: http://www.nytimes.com/2009/02/15/us/politics/15cantor.html ~ I'm with DHB on this. One of the big poisons of our situation is that the two-party system is spending as much or more energy worrying about holding power, than sharing it, or doing their jobs. ~ "They're not printing more land," is, pardon me, an incredibly infantile concept. "Land," like houses, jets, and crap on the Home Shopping Network, is a concept. It has only the value it is assigned and commands in the market. And that value is assigned on generally idiotic terms. ~ Come back to me in 20 years, Anonymous, and tell me how much all that parched desert in California is worth, or the submerged parts of Florida, or the far-flung suburb-hinterlands of Arizona. The whole frikkin point of what's happening today is that people have, for example, ceased to believe that filling a McMansion with consumer crap is the highest possible calling in life. Jinglemail, jinglemail, moonwalking away. ~ The late 20th century models of economic boom were based on deferring costs, and the assumption that fossil energy and water would always come cheap for home and office developers, backed up with zillions of dollars of socialized spending, It was always a stupid model. And just because someone can come up with a new bubble to play Monopoly with doesn't mean any of it has real value. ~ There is, by the way, another bubble waiting to burst. It's the fossil-energy-derived population one. ~ rose Re: 2/12–my comment appears to have gotten munched or lost…I wanted to tell Expat that we financial/real estate heretics all need a vacation. South of France sounds good. ;D
~
I wanted to add this link from the Sunday NYT on the new Senate minority whip, Eric Cantor, which is also a portrait of party politics uber alles at a time of national emergency:
http://www.nytimes.com/2009/02/15/us/politics/15cantor.html
~
I’m with DHB on this. One of the big poisons of our situation is that the two-party system is spending as much or more energy worrying about holding power, than sharing it, or doing their jobs.
~
“They’re not printing more land,” is, pardon me, an incredibly infantile concept. “Land,” like houses, jets, and crap on the Home Shopping Network, is a concept. It has only the value it is assigned and commands in the market. And that value is assigned on generally idiotic terms.
~
Come back to me in 20 years, Anonymous, and tell me how much all that parched desert in California is worth, or the submerged parts of Florida, or the far-flung suburb-hinterlands of Arizona. The whole frikkin point of what’s happening today is that people have, for example, ceased to believe that filling a McMansion with consumer crap is the highest possible calling in life. Jinglemail, jinglemail, moonwalking away.
~
The late 20th century models of economic boom were based on deferring costs, and the assumption that fossil energy and water would always come cheap for home and office developers, backed up with zillions of dollars of socialized spending, It was always a stupid model. And just because someone can come up with a new bubble to play Monopoly with doesn’t mean any of it has real value.
~
There is, by the way, another bubble waiting to burst. It’s the fossil-energy-derived population one.
~
rose

]]> By: JimAtLaw http://www.doctorhousingbubble.com/budget-finance-california-budget-and-housing-situation-backroom-deals-screaming-for-paulson-and-understanding-revenues/#comment-33154 JimAtLaw Sun, 15 Feb 2009 13:02:16 +0000 http://www.doctorhousingbubble.com/?p=1401#comment-33154 Wow, I haven't heard someone say "priced out forever" seriously in quite a long time. I guess it just goes to show, whenever you think there might be a bottom to Realtor dishonesty, nope, you haven't gotten there yet! Wow, I haven’t heard someone say “priced out forever” seriously in quite a long time.

I guess it just goes to show, whenever you think there might be a bottom to Realtor dishonesty, nope, you haven’t gotten there yet!

]]> By: garotoz http://www.doctorhousingbubble.com/budget-finance-california-budget-and-housing-situation-backroom-deals-screaming-for-paulson-and-understanding-revenues/#comment-33121 garotoz Sun, 15 Feb 2009 04:09:56 +0000 http://www.doctorhousingbubble.com/?p=1401#comment-33121 There is another dynamic to all of this is that wages paid to men between 1967 and 2006 (in 2006 dollars) rose only marginally from about $29,500 to $34,500/yr - about 15%. Women did better on a percentage basis form $13,000 to $26,000/yr - a near double. Workers have simply not made enough wages and have lived beyond their means for a long time. Savings rates also began to decline in the early 1980's and went negative several years ago. It is no wonder people used their homes as ATMs. Unemployment and underemployment are one thing. It is another thing altogether when one is fully employed and still barely survives. So much for "Free Trade Agreements," outsourcing, off shoring and so on. These programs have failed to serve the American people, but have served crony capitalists. There is another dynamic to all of this is that wages paid to men between 1967 and 2006 (in 2006 dollars) rose only marginally from about $29,500 to $34,500/yr – about 15%. Women did better on a percentage basis form $13,000 to $26,000/yr – a near double. Workers have simply not made enough wages and have lived beyond their means for a long time. Savings rates also began to decline in the early 1980′s and went negative several years ago. It is no wonder people used their homes as ATMs. Unemployment and underemployment are one thing. It is another thing altogether when one is fully employed and still barely survives. So much for “Free Trade Agreements,” outsourcing, off shoring and so on. These programs have failed to serve the American people, but have served crony capitalists.

]]> By: js http://www.doctorhousingbubble.com/budget-finance-california-budget-and-housing-situation-backroom-deals-screaming-for-paulson-and-understanding-revenues/#comment-33062 js Sat, 14 Feb 2009 17:35:48 +0000 http://www.doctorhousingbubble.com/?p=1401#comment-33062 By the way how much is LAND in Detroit worth, there is your answer. They aren't making any more!! By the way how much is LAND in Detroit worth, there is your answer. They aren’t making any more!!

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