Comments on: Real Homes of Genius: It Takes a Pink Home to Lose 80 Percent in Value. 3 Sample Compton Homes Showing the Magnitude of the Housing Bubble and Subprime Mess. Going back to 1990 Prices.

By: CriticalMass

CriticalMass — Sun, 26 Apr 2009 09:57:57 +0000

In engineering we are taught critical thinking–what if everything you thought was wrong. What is common:
Paulson, Giethner, Goldman, Lewis, Dimon, Rothschild, Murdoch.

There are particular people that are parasitic in nature–they do not produce, only consume. Few of us are consumed by the predators we fear, but the parasites consume us all. They are the power brokers of the world. We know the answer, we always have, we just can’t do anything about it because they own the banks, the legal profession, medical, politics and media. And some are my dear friends.

By: Tropical Patches

Tropical Patches — Sat, 25 Apr 2009 02:13:22 +0000

The pink house is now listed on realtor.com for $59,800, discounted another 8%.

By: Moral Hazard

Moral Hazard — Fri, 24 Apr 2009 23:51:43 +0000

House prices in the South Bay of Los Angeles are still really stubborn. Two-or- three on a lot townhouses (mini-macs) that I would consider undesirable due to the lack of yard space and common driveways, are still selling to “the rich” almost daily. (To me, if you can afford a 600k+ house without any fishy financing, you’re rich) I don’t know how there can be so many “rich” around who don’t want or need a real house with a real piece of land. I also find it interesting that, if you put it into National perspective, Compton is a very brief drive from wholesome and upscale areas like Torrance, and North Redondo Beach, except that in one zone the prices have zoomed towards zero, and in the other zone (just a couple miles away), prices are holding very strong. Even rather stodgy cities in the South Bay bay like Hawthorne and Lawndale are holding the line on pricing at levels that I would never consider paying for (in those areas). Location, Location, Location, is the mantra, but I am certain that even these last bastion areas are going to come down like a brick when people capitulate.

By: Boris Said

Boris Said — Fri, 24 Apr 2009 16:23:02 +0000

Wow I seriously can’t believe the high % of price drops on the homes, in such a short time

By: blutown

blutown — Fri, 24 Apr 2009 15:36:34 +0000

From the bottom callers at the National Association of Home Builders:
NAHB director of forecasting Bernard Markstein threw his thoughts into the ring, joining the optimists in the group. “We expect this quarter to mark the end of the decline in residential construction. While not a return to normalcy, 2010 should mark a significant improvement, although the pain will not be over for the formerly hot markets and the upper Midwest.”
Along with NAR, Cramer and the other leaders of the United States of Denial, whatever they say, do the opposite. Be brave Comrades!