As far as those who happen to live in areas which either did not bubble or are still appreciating are concerned, who cares? If a volcano erupts in Indonesia, do you deny it means anything to anyone because you live in Iowa? Some real estate is local, but nationally the housing market is collapsing. So, specific, individual protests are either wishful thinking or irrelevant gloating.

I say, Burn, baby, burn. Call me when the median price is about $130k and I might buy something somewhere.

Add the billion dollars of lost capital, the trillions of dollars of worthless fiat money entering the economies of the whole world, the 17% increase in inflation, and you have a real ticket to oblivion. The end of the world has begun. Welcome to the mad max scenerio.

I feel the same way you do about the San Gabriel Valley. The reason being that the Asian culture has taken hold of that area and they retain the finanacial discipline and values that America once had. It’s called SAVING and “If you can’t pay cash, you can’t afford it.” When you drive around there, you see many folks driving a 7 year-old clean toyota Camry and they have equity in their house. You bet when most of them buy a house, they definitley have skin in the game and will do anything to hang on to it. That makes the area more stable than most. If you go out to areas like Corona, Canyon Country, Etc., you see numerous folks “credit crunchers” living week to week with their accumulated debt load and the first thing to go is the “no money down house.” It has a lot to do with our value or lack of value system here stateside.

good thing this blog is about places other than Southern California.

Glad to see our educational system churning out such bright candidates for our military.

Chuck Ponzi