Comments on: Real Homes of Genius: An Economic Investigation of La Mirada. Median Sale Price, Incomes, Trends, Shadow Inventory, and the case for no Price Bounce. Mortgage Equity Withdrawal Home Value from $157,000 to $570,000.

By: avs

avs — Mon, 19 Oct 2009 02:39:54 +0000

Dan, I am not in the real estate business. In fact, I don’t even own any property, but would like to. I have been trying to understand and figure out this housing issue. My original point being, which I probably, could have stated better is that immigration into california could not have contributed to the housing prices….more people buying less houses. The numbers that I gave came from the US census.

By: Dick

Dick — Sun, 18 Oct 2009 12:17:17 +0000

Thanks again Dr. Bubble. I ran across an article purporting to “debunk” shadow inventory. They’ve done this by redefining shadow inventory as part of a subset of homes that have already been foreclosed upon. This is not how the good Dr. defined shadow inventory. More ostrich behavior patterns from RE shills/goons. To their credit, they do recognize the coming alt-a/arm wave. That, on top of non-existent shadow inventory should about do it. Patience is key.

http://www.foreclosuretruth.com/

By: Chipchick

Chipchick — Sat, 17 Oct 2009 18:20:15 +0000

“I think owning a home will be the last thing you care about if you really believe hyper-inflation will hit”. Most people in this country can’t fathom 10% inflation on a yearly basis, hyperinflation like a country like Argentina has suffered (120%+ a MONTH) is not even imaginable. Right now, most people are in what I call the “post-bust blues” which means they are mulling over how to turn their next quick buck, not survive the debt bomb we are currently in.
I truly believe that it won’t matter how low the real estate prices go, there just isn’t going to be credit to pay for them, or money to put down on them. People have used their homes like Dr. House says ” an ATM” and they haven’t a clue yet how to stop doing it. They’ll remain in bankruptcy a long long time.
And Partyboy, that is exactly what the gov’t is doing. The danger is in assuming that the inflated prices and less robust dollar are going to survive that treatment. Eventually like housing prices, the dollar will have to seek its own level. Despite what anyone does or says.

By: Sigma

Sigma — Sat, 17 Oct 2009 15:19:09 +0000

Yet ANOTHER reason why foreclosures haven't hit market. Deadbeat judges and laywers holding up the process in the favor of deadbeat homedebtors. boston herald link

By: Partyboy

Partyboy — Sat, 17 Oct 2009 12:37:38 +0000

Since the banks and the govt are clearly in cahoots, is the govt printing money in an effort to create inflation to prop up home prices in order to minimize the losses (on paper) to the banks? Will the govt tell the american public that inflation is good because it was necessary to protect the american taxpayers’ involuntary investment in Freddie Mac and Fannie Mae? Would it make sense on some level that the govt would take over these defunct institutions and then make them seem profitable by reinflating the real estate bubble via inflation? I have always thought that when someone does something that doesn’t make sense, they are either deceitful of dumb. I don’t think that the people in power are dumb which leaves me with only one option…