Comments on: Real Homes of Genius: Foreclosure in Manhattan Beach. Bear Market Sucker Rallies.

By: blutown

blutown — Sun, 30 Nov 2008 01:43:49 +0000

“The only way to overcome today’s economic turmoil is to motivate and encourage worried or cautious housing consumers to enter the marketplace,” said NAR President Charles McMillan. -November 18,2008
~
Let me take a stab at what the NAR’s self-serving statement means:
1. Bring back toxic mortgages!
2. The bubble hasn’t burst, it’s just halftime!
3. Click your heels three times and repeat, “there’s no place like home”!
4. Supply and demand is a quaint but antiquated concept!
5. Ditto for debt!
~
Note to self, whatever the NAR says, do opposite.

By: el guapo

el guapo — Sat, 29 Nov 2008 18:27:57 +0000

I live in Manhattan Beach and read http://www.mbconfidential.com as religiously as this site. It’s getting pretty chippy in the comments section these days. The bulls argument keeps getting modified. They would point to the fact that this isn’t a prime location/ house. That’s true. But it used to be never in LA. Then never in the South Bay. Then never in MB. But prime properties are taking a hit (foreclosures aren’t part of the equation yet). The last stand for the bulls (in MB) is everything is fine if you live “west of Highland, South of the Pier and on a walk street.” It reminds me of a scene in The Jerk when he’s working at the carnival where you can win “anything between the napkin dispenser and the toy soldier, anything in this tiny area, here.”

Of course, the “west of highland, south of pier, walk street” homes are under pressure too.

By: Dillpup

Dillpup — Sat, 29 Nov 2008 09:51:56 +0000

Re: Comment by Phillip Katt
Classic, a San Franciscan who dodges addict’s needles and feces on the sidewalk while nostalgically visioning Herb Caen’s column in the Chronicle finds the real world of a Redondo Beach area oil refinery to be the death knell of life. Has he ever driven through Hercules, Calif. on I-80?
L.A. has the spin, is the go-er, the mover, the reality, the industry, the motion, the REAL happening, S.F. had it but now thinks itself too elite for the common worker. S.F. has killed itself, Hippie Died in the early ’60’s, officially and figuratively. Even Herb Caen realized that the “City” was dying. Redondo Beach, now, one can still get a shark sandwich at Captain Kidd’s with a good cross section of the entire world on a bench for $6, no corking fee!

By: orchimike

orchimike — Sat, 29 Nov 2008 07:04:04 +0000

i think it’s not a big deal.
even the house price fall 50%.
it is still higher than 1980’s or 1970’s.

will donald trump lost all his money?
will robert kiyosaki bankruphy?

Be honestly,”fear”"greedy” make the trends.
when people fear…
when people greedy…

By: Laura Louzader

Laura Louzader — Sat, 29 Nov 2008 02:05:20 +0000

This house is not beautiful. It’s an ordinary utilitarian “midcentury modern” that even in prime areas of L.A., ought not to fetch at dime over $400K, which would make the extremely average house pictured here affordable (sort of) to someone making $122K.