Comments on: California Budget Solution – Ignore It. $3 Billion Financial Gap by December. State Budget Deficit Already in the Billions. Tax Revenues Collapse and Unemployment and Underemployment at 23 Percent. http://www.doctorhousingbubble.com/california-budget-solution-ignore-it-3-billion-financial-gap-by-december-state-budget-deficit-already-in-the-billions-tax-revenues-collapse-and-unemployment-and-underemployment-at-23-percent/ How I Learned to Love Southern California and Forget the Housing Bubble Thu, 09 Feb 2012 06:16:36 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: jb http://www.doctorhousingbubble.com/california-budget-solution-ignore-it-3-billion-financial-gap-by-december-state-budget-deficit-already-in-the-billions-tax-revenues-collapse-and-unemployment-and-underemployment-at-23-percent/#comment-41480 jb Thu, 29 Oct 2009 18:25:25 +0000 http://www.doctorhousingbubble.com/?p=2552#comment-41480 Jake, is it? Just shut the f@#$ up already--we've had enough of your ridiculous spamming. As a matter of fact, maybe it's time you went out and found a real job, if for nothing else to experience the pain of actually working for a living, rather than benefiting from the misery of others. Jake, is it? Just shut the f@#$ up already–we’ve had enough of your ridiculous spamming. As a matter of fact, maybe it’s time you went out and found a real job, if for nothing else to experience the pain of actually working for a living, rather than benefiting from the misery of others.

]]> By: Jake http://www.doctorhousingbubble.com/california-budget-solution-ignore-it-3-billion-financial-gap-by-december-state-budget-deficit-already-in-the-billions-tax-revenues-collapse-and-unemployment-and-underemployment-at-23-percent/#comment-41466 Jake Thu, 29 Oct 2009 08:42:02 +0000 http://www.doctorhousingbubble.com/?p=2552#comment-41466 It is a “Buyer’s Market”, but the best bargains are selling quickly. For the first time in several years, we are seeing “multiple offers” on the well-priced properties. Remember now is the time to buy that home you always wanted with prices where they are today,one of your best ways is to work with a realestate agent who has the knowledge and expertise to help you along the process. There is a tool which can erase all the confusion related to home buying. It's a tool which Identifies properties with the most value, establishes the right price range to pay, projects long-term cash flow and appreciation & assesses how to maximize after-tax returns. For more information look into http://www.smartzip.com/info/score It is a “Buyer’s Market”, but the best bargains are selling quickly. For the first time in several years, we are seeing “multiple offers” on the well-priced properties. Remember now is the time to buy that home you always wanted with prices where they are today,one of your best ways is to work with a realestate agent who has the knowledge and expertise to help you along the process. There is a tool which can erase all the confusion related to home buying. It’s a tool which Identifies properties with the most value, establishes the right price range to pay, projects long-term cash flow and appreciation & assesses how to maximize after-tax returns. For more information look into http://www.smartzip.com/info/score

]]> By: Joek http://www.doctorhousingbubble.com/california-budget-solution-ignore-it-3-billion-financial-gap-by-december-state-budget-deficit-already-in-the-billions-tax-revenues-collapse-and-unemployment-and-underemployment-at-23-percent/#comment-41458 Joek Wed, 28 Oct 2009 21:05:16 +0000 http://www.doctorhousingbubble.com/?p=2552#comment-41458 I see AnnS is going off the rails again because Mish used a public campground. We all do it, honey. It's not a political affirmation. It's a vacation. I see AnnS is going off the rails again because Mish used a public campground. We all do it, honey. It’s not a political affirmation. It’s a vacation.

]]> By: Mark http://www.doctorhousingbubble.com/california-budget-solution-ignore-it-3-billion-financial-gap-by-december-state-budget-deficit-already-in-the-billions-tax-revenues-collapse-and-unemployment-and-underemployment-at-23-percent/#comment-41452 Mark Wed, 28 Oct 2009 19:47:54 +0000 http://www.doctorhousingbubble.com/?p=2552#comment-41452 I have been following the Doctor for about 6 months now. I totally agree - we are no where near the bottom yet on housing in CA, especially for properties in the mid and upper end. What I'm wondering is: How long can banks hold onto the "shadow inventory" before it implodes? It seems to me we should be able to estimate how long this waiting game will last. At some point, they will have to pay property tax, HOA, etc for all of these properties to keep the deception of low inventory going. At some point the hit to their balance sheet will start to be painful from the on-going expenses, such that they will be forced to walk away, or let local governments take over the property and sell them at auction due to the tax liens. Either way, I see prices going down due to the huge backlog of loan defaults. Whether banks foreclose, or they are eventually sold to pay for property tax - the effect is the same - at some point there will be a lot more inventory on the market at much lower prices. I have been following the Doctor for about 6 months now. I totally agree – we are no where near the bottom yet on housing in CA, especially for properties in the mid and upper end.

What I’m wondering is: How long can banks hold onto the “shadow inventory” before it implodes? It seems to me we should be able to estimate how long this waiting game will last.

At some point, they will have to pay property tax, HOA, etc for all of these properties to keep the deception of low inventory going.

At some point the hit to their balance sheet will start to be painful from the on-going expenses, such that they will be forced to walk away, or let local governments take over the property and sell them at auction due to the tax liens.

Either way, I see prices going down due to the huge backlog of loan defaults. Whether banks foreclose, or they are eventually sold to pay for property tax – the effect is the same – at some point there will be a lot more inventory on the market at much lower prices.

]]> By: jb http://www.doctorhousingbubble.com/california-budget-solution-ignore-it-3-billion-financial-gap-by-december-state-budget-deficit-already-in-the-billions-tax-revenues-collapse-and-unemployment-and-underemployment-at-23-percent/#comment-41441 jb Wed, 28 Oct 2009 14:08:40 +0000 http://www.doctorhousingbubble.com/?p=2552#comment-41441 Pez-- You're plainly rambling. Apparently conservatism is a poor judge of parody. Pez–
You’re plainly rambling. Apparently conservatism is a poor judge of parody.

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