Comments on: Special Edition: Real State of Genius: Today we Salute you California with Our Real Home of Genius Award! 10 Homes throughout the Golden Bubble State.

By: Alex

Alex — Fri, 26 Sep 2008 10:26:07 +0000

I live in Buffalo, New York.
FYI : We are doing great during this recession/depression/collapse. Real estate prices have NOT fallen in Buffalo.
The average house here sells for about $110,000.
which is a 3 bedroom, 1&1/2 bath, with a decent sized yard.
Also : there are NO TRAFFIC JAMS HERE.
We are 10 minutes from the Canadian border.
AND OUR WEATHER IS MUCH BETTER THAN CALIFORNIA, FLORIDA, OR TEXAS. We have 4 nice seasons, and never have a hurricane, flood, wildfire or earthquake. Oh, and also we have the largest fresh water supply on earth.
Move to Buffalo.
It is the best.
Thanks
Alex

By: Misha

Misha — Sat, 09 Feb 2008 08:55:13 +0000

I may not be able to sleep tonight after reading this post. I knew CA had it bad, but this is rank. Even so, I really can’t see charging $200K for that doghouse in Riverside. These people need to wake up.

By: third-gen-cali

third-gen-cali — Mon, 14 Jan 2008 23:31:47 +0000

Jo Jo,

Truth is, I rent a 2500 sq foot House (4 bed/3 full baths) in Hermosa Beach (one of the prime beach communities in So Cal) for $2200/mo. It’s a beautiful home, and I can walk to the beach. What a joke to pay $2500 for a 692 sq foot shack in Santa Monica…it’s all the same sand and the same ocean! The problem is, most transplants come to Cali and get hypmotized by the glamor and glitter of it all, then seem to lose thier senses. Why you would ever buy this house is besides me. In the end, there’s gonna be some half-off bargains from San Ysidro to Redding after this senseless runnup deflates! Just look at the data!

P.S.
Those that don’t study history are doomed to repeat it. (Global Recession in the mid-70s, Cali Real Estate Demise in the 90s, Florida Real Estate crash of 1927, etc.)

By: joey jo jo

joey jo jo — Wed, 09 Jan 2008 03:11:48 +0000

I don’t see a major problem with #9. A 6-6.5% 30Y fixed mortgage with 20% down (typical for the old days and any responsible person these days) would be paying about $2800, after tax-benefits. Similar rent is $2500. Rents are only going up with so many people displaced from real estate. Its not a GOOD deal, but not a bubble if in fact similar rents are $2500.

By: Clownshoe

Clownshoe — Sun, 06 Jan 2008 05:39:20 +0000

I’m here in Nor-Cal,how far down will the market fall ? Big question.I’m looking to buy right now but I’m afraid of paying too much as the market slides.Looked at a 4/2 1450 nice neighborhood for 570k and in this”out of touch with reality” area that seems cheap.That house was up to 775k not to long ago.