Comments on: Real Homes of Genius: The Five Figure Zip Codes are Growing. A $62,000 Median Home Price in Southern California?

By: C'

C' — Sat, 27 Dec 2008 19:08:18 +0000

Totally agree that 2009 is going to see prices continue to drop. At the pace things continue dropping, I think it’s unlikely prices will drop a lot in 2010.

I also totally agree that it will most likely take a while for things to start going up in any meaningful way — unless there’s some sort of artificial stimulus (which there sure could be).

When people ask me if it’s a good time to sell, I tell them, well, it’s a bad time to sell compared with a few years ago.

But is it a better time to sell than a year or two from now? Maybe so.

If prices continue the way they’re going, the answer is yes. If these trends continue, you’ll likely have to wait 4-5 years to see home values at where they are now.

But if you are going to sell, you need to be realistic. Cut your losses.

By: ozamerican

ozamerican — Sat, 27 Dec 2008 13:38:42 +0000

What’s going to happen in 2011 to magically drive up home prices?

Nothing.

In a few yearsm baby boomers start to die off and all those houses go onto the market. You can’t really see an end to this until 2018 or so…

2011? Forget it, unless you can provise a compelling reason…

By: Sabin Figaro

Sabin Figaro — Sat, 27 Dec 2008 09:33:52 +0000

After the insane ride of 2008 we have all been numbed to a great degree. What would be surprising anymore? I think it is just a matter of scale, as these homes indicate. $53 trillion of debt is not a lot, if it is just virtual dollars–just write $53,000,000,000,000.00 –that was easy. The problem is that all the real dollars are becoming virtual, as well. It’s amazing to see the great rift that is forming with the massive inflationary plate undergoing subduction from the deflationary plate. By some measures the two might appear to cancel one another out, but energy is neither created nor destroyed–it just changes form. These pressures are building and will probably snap with the next major event. That could very well be the Alt-A/Opt-Arm avalanche of 2009-2011 as the Doc has so carefully presented in his thesis that last few years. Earthquake followed by tsunami is the natural course here. We’ve already got our boots on from wading through the BS all this time…

By: Dan

Dan — Fri, 26 Dec 2008 19:26:16 +0000

I love these upbeat posts of Dr. HB. Let’s not forget it is not a crisis for everyone. It‘s a wonderful time. How about people like me waiting for this bubble for 5-6 years to become a history!? And what a history it makes.

By: Genius

Genius — Fri, 26 Dec 2008 08:29:51 +0000

I love these posts, you just made my Christmas. I’m seeing areas like Torrance and Culver City starting to get killed. Looks like the main attraction is about to finally get underway.