Comments on: Housing in Graphics and California $16 Billion in the Hole: The Genesis of the California Housing Market. http://www.doctorhousingbubble.com/housing-in-graphics-and-california-16-billion-in-the-hole-the-genesis-of-the-california-housing-market/ How I Learned to Love Southern California and Forget the Housing Bubble Sat, 05 Jul 2008 11:10:42 +0000 http://wordpress.org/?v=2.2.2 By: Raj C. http://www.doctorhousingbubble.com/housing-in-graphics-and-california-16-billion-in-the-hole-the-genesis-of-the-california-housing-market/#comment-16051 Raj C. Tue, 27 May 2008 18:25:32 +0000 http://www.doctorhousingbubble.com/housing-in-graphics-and-california-16-billion-in-the-hole-the-genesis-of-the-california-housing-market/#comment-16051 Full Disclosure: I don't have any bullion, and I'm definitely not sitting on " One Mill" But what do have is some simple anecdotal evidence, do what you want with it. Specs. 4bd, 2bath, 1200sq.ft REO in West Fullerton, currently on the market for 340K. The house is needs about 10k in incidentals (paint, floors touch-ups etc) IN January of 2007 the home sold for a little of $500k. Since it hit the market less then two weeks ago its had multiple offers at and above listed price. Agents I've spoken to in the area are claiming that not only is interest heating up, but so are the contracts pens. Where can one find sales figures to back these claims up? Has anyone else heard anything of this nature happening Fullerton? Full Disclosure: I don’t have any bullion, and I’m definitely not sitting on ” One Mill” But what do have is some simple anecdotal evidence, do what you want with it.

Specs. 4bd, 2bath, 1200sq.ft REO in West Fullerton, currently on the market for 340K.
The house is needs about 10k in incidentals (paint, floors touch-ups etc) IN January of 2007 the home sold for a little of $500k. Since it hit the market less then two weeks ago its had multiple offers at and above listed price. Agents I’ve spoken to in the area are claiming that not only is interest heating up, but so are the contracts pens.

Where can one find sales figures to back these claims up? Has anyone else heard anything of this nature happening Fullerton?

]]> By: Steve http://www.doctorhousingbubble.com/housing-in-graphics-and-california-16-billion-in-the-hole-the-genesis-of-the-california-housing-market/#comment-11508 Steve Sun, 20 Apr 2008 20:17:16 +0000 http://www.doctorhousingbubble.com/housing-in-graphics-and-california-16-billion-in-the-hole-the-genesis-of-the-california-housing-market/#comment-11508 DHB, First thanks for your info on Lakewood in a recent post. Much appreciated as are all the other detailed insights. @CompaJD.."I have a great idea for all current home shoppers, find a home you want to buy and staple this article with a 50% below asking price bid and see what happens." I think this may be happening in my area. Until recently, for sale listings had prices starting in the high 400s-500s for mast homes. Today for the first time, we see a slew of homes listing in the mid-300's. DHB, First thanks for your info on Lakewood in a recent post. Much appreciated as are all the other detailed insights.

@CompaJD..”I have a great idea for all current home shoppers, find a home you want to buy and staple this article with a 50% below asking price bid and see what happens.”
I think this may be happening in my area. Until recently, for sale listings had prices starting in the high 400s-500s for mast homes. Today for the first time, we see a slew of homes listing in the mid-300’s.

]]> By: joomblaah http://www.doctorhousingbubble.com/housing-in-graphics-and-california-16-billion-in-the-hole-the-genesis-of-the-california-housing-market/#comment-11477 joomblaah Sun, 20 Apr 2008 07:35:41 +0000 http://www.doctorhousingbubble.com/housing-in-graphics-and-california-16-billion-in-the-hole-the-genesis-of-the-california-housing-market/#comment-11477 check out this blog to explain all the funny money http://elainemeinelsupkis.typepad.com/ also see fromthewilderness.com solari.com freedomtofascism.com onlinejournal.com globalresearch.ca theoildrum.com energybulletin.net lifeaftertheoilcrash.net/BreakingNews.html cheerio check out this blog to explain all the funny money

http://elainemeinelsupkis.typepad.com/

also see

fromthewilderness.com
solari.com
freedomtofascism.com
onlinejournal.com
globalresearch.ca
theoildrum.com
energybulletin.net
lifeaftertheoilcrash.net/BreakingNews.html

cheerio

]]> By: Matt http://www.doctorhousingbubble.com/housing-in-graphics-and-california-16-billion-in-the-hole-the-genesis-of-the-california-housing-market/#comment-11415 Matt Sat, 19 Apr 2008 06:54:24 +0000 http://www.doctorhousingbubble.com/housing-in-graphics-and-california-16-billion-in-the-hole-the-genesis-of-the-california-housing-market/#comment-11415 Doc- One other item I might add. I work for an RIA that manages between 50-100B; I sat there today and listened and I heard the PM's say that "earnings were positive" on financials(???) and they were going "overweight" in investment banks, starting today. Interesting, I thought, I then walked - calmly - back to my office, logged into my Schwab account, and dumped the following: C+V, BK+E, RBS+H and JPM+J. Why? I just wanted out, and this - I think - is the closest I can ever get to getting out whole. If you are in the financials, in any way whatsoever, well, you better think the same way. Remember that we have short term news coming up that - well, hell, break that. How about some REAL LONG TERM news that should make your blood boil? http://www.bloomberg.com/apps/newspid=20601087&sid=avUb49fO8dzY&refer=home Yep , glad I dumped C+V Pfd today; real glad. Doc-
One other item I might add.
I work for an RIA that manages between 50-100B; I sat there today and listened and I heard the PM’s say that “earnings were positive” on financials(???) and they were going “overweight” in investment banks, starting today.
Interesting, I thought,
I then walked - calmly - back to my office, logged into my Schwab account, and dumped the following:
C+V, BK+E, RBS+H and JPM+J.
Why?
I just wanted out, and this - I think - is the closest I can ever get to getting out whole. If you are in the financials, in any way whatsoever, well, you better think the same way.
Remember that we have short term news coming up that - well, hell, break that.
How about some REAL LONG TERM news that should make your blood boil?

http://www.bloomberg.com/apps/newspid=20601087&sid=avUb49fO8dzY&refer=home
Yep , glad I dumped C+V Pfd today; real glad.

]]> By: drhousingbubble http://www.doctorhousingbubble.com/housing-in-graphics-and-california-16-billion-in-the-hole-the-genesis-of-the-california-housing-market/#comment-11404 drhousingbubble Sat, 19 Apr 2008 05:54:11 +0000 http://www.doctorhousingbubble.com/housing-in-graphics-and-california-16-billion-in-the-hole-the-genesis-of-the-california-housing-market/#comment-11404 @Matt: I’ve noticed some of that logic now. You really have to be amazed at the spin that goes like, “things are so bad that come on, how can they possible get any worse?” If anything, some of the rally this week was based on that. Citi, WaMu, JP Morgan, and Merrill all did not do so hot. The good news with Google, CAT, Coke, and others seemed to be enough even though some of these companies warned of slower earnings. Two worlds here. @Omar, Looking at the data and trends I think we are still looking at a bottom in 2010 or 2011 at least for California. If anything, it seems like the official agencies are reluctant to call a recession probably until summer. The official definition is 2 negative quarters of GDP growth but we are definitely in a contraction. My guess is the next big shoes to fall are commercial real estate and state budgets taking hits this summer. @js, Gas isn’t helping those that bought homes in the Inland Empire and had to commute into Los Angeles especially those with fuel inefficient cars. Talk about a major double whammy. Plus oil is used for many things in life and with the PPI roaring and CPI holding out, what seems to be occurring is producers are eating some of the cost and are reluctant to pass the cost onto consumers. Of course food and energy go straight to the end user but Wal-Mart trinkets are still very cheap. @Steve, Because of fractional reserve banking it is the case that banks keep a limited amount of cash on hand at any given time. Of course, if you really think about it, how often do you deal with “real cash” otherwise known on the street as Federal Reserve Notes? You probably pay your rent/mortgage with a check, charge items on your credit card, and most likely get paid via direct deposit. Of course with the FDIC, your deposits should be insured up to $100,000 per account but if an institution is failing and you have a large sum there, I’m not sure many know how easy it will be to access accounts. The few that e-mailed went to get funds in excess of $5,000 and of course, this is simply anecdotal. I’m sure given the nature of our government and their action they would simply rev up the printing presses and print greenbacks and increase the money supply before allowing this kind of panic to set in. After all, it seems like the American people are more focused on gas going up 10 cents a week while their dollar is collapsing and most don’t seem to care. How often do you hear the media talking about the crashing dollar? @Matt:

I’ve noticed some of that logic now. You really have to be amazed at the spin that goes like, “things are so bad that come on, how can they possible get any worse?” If anything, some of the rally this week was based on that. Citi, WaMu, JP Morgan, and Merrill all did not do so hot. The good news with Google, CAT, Coke, and others seemed to be enough even though some of these companies warned of slower earnings. Two worlds here.

@Omar,

Looking at the data and trends I think we are still looking at a bottom in 2010 or 2011 at least for California. If anything, it seems like the official agencies are reluctant to call a recession probably until summer. The official definition is 2 negative quarters of GDP growth but we are definitely in a contraction. My guess is the next big shoes to fall are commercial real estate and state budgets taking hits this summer.

@js,

Gas isn’t helping those that bought homes in the Inland Empire and had to commute into Los Angeles especially those with fuel inefficient cars. Talk about a major double whammy. Plus oil is used for many things in life and with the PPI roaring and CPI holding out, what seems to be occurring is producers are eating some of the cost and are reluctant to pass the cost onto consumers. Of course food and energy go straight to the end user but Wal-Mart trinkets are still very cheap.

@Steve,

Because of fractional reserve banking it is the case that banks keep a limited amount of cash on hand at any given time. Of course, if you really think about it, how often do you deal with “real cash” otherwise known on the street as Federal Reserve Notes? You probably pay your rent/mortgage with a check, charge items on your credit card, and most likely get paid via direct deposit.

Of course with the FDIC, your deposits should be insured up to $100,000 per account but if an institution is failing and you have a large sum there, I’m not sure many know how easy it will be to access accounts. The few that e-mailed went to get funds in excess of $5,000 and of course, this is simply anecdotal. I’m sure given the nature of our government and their action they would simply rev up the printing presses and print greenbacks and increase the money supply before allowing this kind of panic to set in. After all, it seems like the American people are more focused on gas going up 10 cents a week while their dollar is collapsing and most don’t seem to care. How often do you hear the media talking about the crashing dollar?

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