Comments on: The Rise and Fall of the Southern California Housing Empire: Foreclosures, Bad Investments, and Psychological Deception. http://www.doctorhousingbubble.com/the-rise-and-fall-of-the-southern-california-housing-empire-foreclosures-bad-investments-and-psychological-deception/ How I Learned to Love Southern California and Forget the Housing Bubble Wed, 17 Mar 2010 11:59:37 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: DAve http://www.doctorhousingbubble.com/the-rise-and-fall-of-the-southern-california-housing-empire-foreclosures-bad-investments-and-psychological-deception/comment-page-1/#comment-28983 DAve Sat, 13 Dec 2008 03:14:55 +0000 http://www.doctorhousingbubble.com/the-rise-and-fall-of-the-southern-california-housing-empire-foreclosures-bad-investments-and-psychological-deception/#comment-28983 Toluca Lake hasn't got the memo: http://listings.listhub.net/pages/SOCALMLS/F1792521/?channel=zillow Over $800/ sq. ft. for all that 1949 AND LAUSD goodness!!! Toluca Lake hasn’t got the memo:

http://listings.listhub.net/pages/SOCALMLS/F1792521/?channel=zillow

Over $800/ sq. ft. for all that 1949 AND LAUSD goodness!!!

]]> By: mellonhead, andreew http://www.doctorhousingbubble.com/the-rise-and-fall-of-the-southern-california-housing-empire-foreclosures-bad-investments-and-psychological-deception/comment-page-1/#comment-28956 mellonhead, andreew Fri, 12 Dec 2008 19:43:07 +0000 http://www.doctorhousingbubble.com/the-rise-and-fall-of-the-southern-california-housing-empire-foreclosures-bad-investments-and-psychological-deception/#comment-28956 1929 Liquidate everything, sec. treas. Mellonhead said 1929 Liquidate everything, sec. treas. Mellonhead said

]]> By: eric in vegas http://www.doctorhousingbubble.com/the-rise-and-fall-of-the-southern-california-housing-empire-foreclosures-bad-investments-and-psychological-deception/comment-page-1/#comment-28897 eric in vegas Thu, 11 Dec 2008 23:41:52 +0000 http://www.doctorhousingbubble.com/the-rise-and-fall-of-the-southern-california-housing-empire-foreclosures-bad-investments-and-psychological-deception/#comment-28897 California to have $41.8 deficit by 2010. http://www.msnbc.msn.com/id/28179777 California to have $41.8 deficit by 2010.

http://www.msnbc.msn.com/id/28179777

]]> By: compass rose http://www.doctorhousingbubble.com/the-rise-and-fall-of-the-southern-california-housing-empire-foreclosures-bad-investments-and-psychological-deception/comment-page-1/#comment-28888 compass rose Thu, 11 Dec 2008 20:18:30 +0000 http://www.doctorhousingbubble.com/the-rise-and-fall-of-the-southern-california-housing-empire-foreclosures-bad-investments-and-psychological-deception/#comment-28888 Hey, DHB, those spinning rims are little suns...and did anybody besides me ever see the word "Escalade" and remember Tom Lehrer's reference to President Johnson "practicing escaladio"? ~ That's what we've become. Escaladio Nation. More more more (howdayalikeit howdayalikeit). ~ I was thinking about the now deflated notion that the US economy is decoupled from the global one. There's an element to this crash that isn't getting much airtime outside of Doc's columns: how California's economy is connected to other regional ones. ~ An example of this is Californians who profit from gentrification (fat salaries) and housing bubbles, while complaining about what accoutrements they can't afford. Then instead of sticking it out and working to make their communities more sustainable for everyone, they bail for whatever other part of the world looks cheap and good by California Life Style standards. Thus a) removing billions of dollars from the economy that enriched them and b) exporting their gentrification culture to the modest hometowns of those of us who still have to work for a living, and can never hope to save $400K on our US median salaries. ~ That is, in essence, the California Dream. A gold rush. All well and good. But when Californians move to other communities with their fat wallets, all they do is recreate gentification. Though of course their goal is to be on the TOP of that process, not its victims. The victims? Screw 'em, they should've skimmed some Golden State cream. ~ Here's something for y'all. Google or other search on the phrase, in quotes, "efficiency is intelligence." ~ ZERO HITS! ~ rose Hey, DHB, those spinning rims are little suns…and did anybody besides me ever see the word “Escalade” and remember Tom Lehrer’s reference to President Johnson “practicing escaladio”?
~
That’s what we’ve become. Escaladio Nation. More more more (howdayalikeit howdayalikeit).
~
I was thinking about the now deflated notion that the US economy is decoupled from the global one. There’s an element to this crash that isn’t getting much airtime outside of Doc’s columns: how California’s economy is connected to other regional ones.
~
An example of this is Californians who profit from gentrification (fat salaries) and housing bubbles, while complaining about what accoutrements they can’t afford. Then instead of sticking it out and working to make their communities more sustainable for everyone, they bail for whatever other part of the world looks cheap and good by California Life Style standards. Thus a) removing billions of dollars from the economy that enriched them and b) exporting their gentrification culture to the modest hometowns of those of us who still have to work for a living, and can never hope to save $400K on our US median salaries.
~
That is, in essence, the California Dream. A gold rush. All well and good. But when Californians move to other communities with their fat wallets, all they do is recreate gentification. Though of course their goal is to be on the TOP of that process, not its victims. The victims? Screw ‘em, they should’ve skimmed some Golden State cream.
~
Here’s something for y’all. Google or other search on the phrase, in quotes, “efficiency is intelligence.”
~
ZERO HITS!
~
rose

]]> By: Dan http://www.doctorhousingbubble.com/the-rise-and-fall-of-the-southern-california-housing-empire-foreclosures-bad-investments-and-psychological-deception/comment-page-1/#comment-28877 Dan Thu, 11 Dec 2008 17:34:54 +0000 http://www.doctorhousingbubble.com/the-rise-and-fall-of-the-southern-california-housing-empire-foreclosures-bad-investments-and-psychological-deception/#comment-28877 This income/mortgage ratio 2,3 or 4 depends a lot where we are talking about. In Jacksonville, FL at the height of the bubble was 4 and for Los Angeles at bottom of the last cycle was 4.8 ( at 2006 peak was more tan 10 ) . In LA ratio has never been just 4. Never. But even 5 for LA means median price of 5 x 55K (median income) = 20% down payment = 300K, approximately. It means on average we are there but it is due to already undershooting in the slumps and the beaches and west side has barely moved. Woe to those fools that think it is over in Newport Beach and Santa Monica. Don’t get fooled. Just watch what may look like a bottom and jump. It doesn’t matter you can or you cannot afford it. If you have been waiting like me you ought to see the bottom of it. Still too early for me. This income/mortgage ratio 2,3 or 4 depends a lot where we are talking about. In Jacksonville, FL at the height of the bubble was 4 and for Los Angeles at bottom of the last cycle was 4.8 ( at 2006 peak was more tan 10 ) . In LA ratio has never been just 4. Never. But even 5 for LA means median price of 5 x 55K (median income) = 20% down payment = 300K, approximately. It means on average we are there but it is due to already undershooting in the slumps and the beaches and west side has barely moved. Woe to those fools that think it is over in Newport Beach and Santa Monica. Don’t get fooled. Just watch what may look like a bottom and jump. It doesn’t matter you can or you cannot afford it. If you have been waiting like me you ought to see the bottom of it. Still too early for me.

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