Comments on: Real Homes of Genius – 1 out of 7 homeowners not paying mortgage or in foreclosure. Examples in Pasadena. 672 square feet apartment for $385,000. 676 square feet home became equity machine. http://www.doctorhousingbubble.com/pasadena-real-homes-of-genius-foreclosure-distress-properties-southern-california-equity-machines/ 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: Tom Lowe http://www.doctorhousingbubble.com/pasadena-real-homes-of-genius-foreclosure-distress-properties-southern-california-equity-machines/#comment-50302 Tom Lowe Wed, 30 Jun 2010 07:10:05 +0000 http://www.doctorhousingbubble.com/?p=3304#comment-50302 The author incorrectly assumes that any mortgage over 30 days late should be part of real estate inventory for sale. Such a notion is not only patently incorrect, but absolutely ridiculous as well. The author incorrectly assumes that any mortgage over 30 days late should be part of real estate inventory for sale. Such a notion is not only patently incorrect, but absolutely ridiculous as well.

]]> By: Brenda Tucker http://www.doctorhousingbubble.com/pasadena-real-homes-of-genius-foreclosure-distress-properties-southern-california-equity-machines/#comment-49433 Brenda Tucker Sat, 29 May 2010 16:39:09 +0000 http://www.doctorhousingbubble.com/?p=3304#comment-49433 I can see the listing you linked to, but it is not a small home like the article discusses. It is a 3 bed, 2 bath which has a greater market niche and it is a nice size for a condo, almost 1300 s.f. So I take it you are questioning the price, but it is close to the ocean and that's why the price is so high. I can see the listing you linked to, but it is not a small home like the article discusses. It is a 3 bed, 2 bath which has a greater market niche and it is a nice size for a condo, almost 1300 s.f.

So I take it you are questioning the price, but it is close to the ocean and that’s why the price is so high.

]]> By: compass rose http://www.doctorhousingbubble.com/pasadena-real-homes-of-genius-foreclosure-distress-properties-southern-california-equity-machines/#comment-49277 compass rose Fri, 21 May 2010 15:06:41 +0000 http://www.doctorhousingbubble.com/?p=3304#comment-49277 While houses have been ATMs for buyers/owners, they are mints/currency engines for the financiers and banksters. ~ That's the whole point of "money as debt," and why debasers-of-the-coin IndyMac and Countrywide jumped all over this practice. The magic mill of fiat currency. ~ Community scrip and barter seems to work well in the communities that practice that. This is why the stock market is tanking again: the only players are the Players, and people with sense invest in food stores rather than the shallow bubble/bust nonsense of the markets. ~ rose While houses have been ATMs for buyers/owners, they are mints/currency engines for the financiers and banksters.
~
That’s the whole point of “money as debt,” and why debasers-of-the-coin IndyMac and Countrywide jumped all over this practice. The magic mill of fiat currency.
~
Community scrip and barter seems to work well in the communities that practice that. This is why the stock market is tanking again: the only players are the Players, and people with sense invest in food stores rather than the shallow bubble/bust nonsense of the markets.
~
rose

]]> By: BubbleFollower http://www.doctorhousingbubble.com/pasadena-real-homes-of-genius-foreclosure-distress-properties-southern-california-equity-machines/#comment-49244 BubbleFollower Fri, 21 May 2010 01:48:46 +0000 http://www.doctorhousingbubble.com/?p=3304#comment-49244 Time for some humble pie for me... On my previous comment, please ignore the last part about the nit-picking. I jumped the gun. My mistake. Time for some humble pie for me…
On my previous comment, please ignore the last part about the nit-picking. I jumped the gun. My mistake.

]]> By: BubbleFollower http://www.doctorhousingbubble.com/pasadena-real-homes-of-genius-foreclosure-distress-properties-southern-california-equity-machines/#comment-49243 BubbleFollower Fri, 21 May 2010 01:37:26 +0000 http://www.doctorhousingbubble.com/?p=3304#comment-49243 Thank you for the blog, which is very instructive. I appreciate the graphs and tallys in particular, as well as the comments. By dumb luck, I have not been caught in this latest housing euphoria. I admit that I was starting to feel left behind but the last two years have cured that. Presently working in Europe, I see the same RE operatives peddling the granite counters and automatic window shades and tv´s in the bathroom. Lots of people have bought into the fantasy, as we see in Spain. The prices shot up and the banks were glad to lend money, even for the furniture! The problem is now, with all the indebtedness. Of course, prices are down. One does not see/hear out in the open about foreclosures but they are there. The banks have taken back lots of places. But very hush-hush. I hate to finish my 1st comment with a nit, but here is: at the beginning of your post you use 672 and 676 square feet. There! My engineer soul feels better. Thank you for the blog, which is very instructive. I appreciate the graphs and tallys in particular, as well as the comments.
By dumb luck, I have not been caught in this latest housing euphoria. I admit that I was starting to feel left behind but the last two years have cured that.
Presently working in Europe, I see the same RE operatives peddling the granite counters and automatic window shades and tv´s in the bathroom. Lots of people have bought into the fantasy, as we see in Spain. The prices shot up and the banks were glad to lend money, even for the furniture! The problem is now, with all the indebtedness. Of course, prices are down. One does not see/hear out in the open about foreclosures but they are there. The banks have taken back lots of places. But very hush-hush.

I hate to finish my 1st comment with a nit, but here is: at the beginning of your post you use 672 and 676 square feet. There! My engineer soul feels better.

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