Comments on: Westside Los Angeles: Even Prime Real Estate not Immune from California Housing Crash. Examining the Westside Luxury Community with Brentwood and Pacific Palisades. http://www.doctorhousingbubble.com/westside-los-angeles-even-prime-real-estate-not-immune-from-california-housing-crash-examining-the-westside-luxury-community-with-brentwood-and-pacific-palisades/ How I Learned to Love Southern California and Forget the Housing Bubble Thu, 09 Feb 2012 06:16:36 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jacque Conway http://www.doctorhousingbubble.com/westside-los-angeles-even-prime-real-estate-not-immune-from-california-housing-crash-examining-the-westside-luxury-community-with-brentwood-and-pacific-palisades/#comment-37877 Jacque Conway Sat, 18 Jul 2009 18:17:19 +0000 http://www.doctorhousingbubble.com/?p=1791#comment-37877 most of the real estate "agents" are basically fraudulent, and do very little to "earn" their ill-earned 5-6% commissions-except to ensure another sucker buys someone else's mistake, with re-fi, hi-fi, we-fi, re-fry; nothing more than gimmicks to sucker the unsophisticated into buying someone's mistake. "they're not making any more land anymore, now", RE always goes up, great investment, etc.....ALL LIES, TO TRICK PEOPLE===$$$$$$ motive. Many of those RE "agents" should give back a portion of those artificially-ill earned "commissions" during the 2004-2006 "booming" fake estate years as many agents were pressuring those buyers with bloated, puffed, falsely elevated home prices thanks to a myriad of con-men--appraisers in bed with banks, RE agents in bed with developers, conflicts of interest, shysters galore, fake "experts", giving 700K mortgage to minimum wage illegal mexican, etc.... You even have condos in the overpriced palisades sinking into the mountains/ravines b/c of poor construction, slapped up condos, poorly designed to sucker the naive/ignorant trustfunders into buying into the non-employable lifestyle of the palisades, etc... and the RE agents do NOT care, only they care about their ill-earned commissions. most of the real estate “agents” are basically fraudulent, and do very little to “earn” their ill-earned 5-6% commissions-except to ensure another sucker buys someone else’s mistake, with re-fi, hi-fi, we-fi, re-fry; nothing more than gimmicks to sucker the unsophisticated into buying someone’s mistake. “they’re not making any more land anymore, now”, RE always goes up, great investment, etc…..ALL LIES, TO TRICK PEOPLE===$$$$$$ motive.

Many of those RE “agents” should give back a portion of those artificially-ill earned “commissions” during the 2004-2006 “booming” fake estate years as many agents were pressuring those buyers with bloated, puffed, falsely elevated home prices thanks to a myriad of con-men–appraisers in bed with banks, RE agents in bed with developers, conflicts of interest, shysters galore, fake “experts”, giving 700K mortgage to minimum wage illegal mexican, etc…. You even have condos in the overpriced palisades sinking into the mountains/ravines b/c of poor construction, slapped up condos, poorly designed to sucker the naive/ignorant trustfunders into buying into the non-employable lifestyle of the palisades, etc… and the RE agents do NOT care, only they care about their ill-earned commissions.

]]> By: ChipChick http://www.doctorhousingbubble.com/westside-los-angeles-even-prime-real-estate-not-immune-from-california-housing-crash-examining-the-westside-luxury-community-with-brentwood-and-pacific-palisades/#comment-36148 ChipChick Wed, 13 May 2009 17:31:39 +0000 http://www.doctorhousingbubble.com/?p=1791#comment-36148 This is a great article, and spot on. But I fear that it is all going to be a moot point - no one will be able to buy anything because once the EU starts printing money, who knows how bad the inflation will be. We are already poised to have super-inflation as soon as the economy "recovers". Its going to be a world-wide epidemic of crashing currencies. If I were to buy a house now - and thank God I'm not in the market having already done the deed by buying a farm before the crash of '07...I'd be looking for a 10K shell, fix it up minimally so I could live in it, and pay for it in cash. I'd even go for land over a house if I could find it. Land can feed you. Ohio is fast following California, and now they are talking about nationally taxing soda pop and HSA benefits to offset the rising tax delinquencies. The average Joe can stop drinking pop & smoking but can't stop taking their meds. At some point, the People of America are going to have to stand up and make their voices heard against this continued tyranny which not only affects the value of the US greenback, but our homes, retirement investments, savings and yes, our standard of living. Congress needs to be wiped clean and we need to start again. I doubt wether that will happen though, as the sheeple of this country have gone complacent and they don't even know who they are voting for. This is a great article, and spot on.
But I fear that it is all going to be a moot point – no one will be able to buy anything because once the EU starts printing money, who knows how bad the inflation will be. We are already poised to have super-inflation as soon as the economy “recovers”. Its going to be a world-wide epidemic of crashing currencies.
If I were to buy a house now – and thank God I’m not in the market having already done the deed by buying a farm before the crash of ’07…I’d be looking for a 10K shell, fix it up minimally so I could live in it, and pay for it in cash.
I’d even go for land over a house if I could find it. Land can feed you.
Ohio is fast following California, and now they are talking about nationally taxing soda pop and HSA benefits to offset the rising tax delinquencies. The average Joe can stop drinking pop & smoking but can’t stop taking their meds.
At some point, the People of America are going to have to stand up and make their voices heard against this continued tyranny which not only affects the value of the US greenback, but our homes, retirement investments, savings and yes, our standard of living.
Congress needs to be wiped clean and we need to start again. I doubt wether that will happen though, as the sheeple of this country have gone complacent and they don’t even know who they are voting for.

]]> By: ObamaNation http://www.doctorhousingbubble.com/westside-los-angeles-even-prime-real-estate-not-immune-from-california-housing-crash-examining-the-westside-luxury-community-with-brentwood-and-pacific-palisades/#comment-36143 ObamaNation Wed, 13 May 2009 03:42:02 +0000 http://www.doctorhousingbubble.com/?p=1791#comment-36143 What if everything you thought you knew was wrong? Almost everything is a spin and meant to put yourself in the usury bondage? Did you know that the bankers started both world wars? Do you realize yet that it was a war against the bankers and we helped the bankers win? Do you realize we have lost this war to the bankers? They have pillaged our treasury and are about to do it again. Just as they secured their counterparty CDS positions with AIG 'bailout' money, they are doing the same with Chrysler--forcing them into bankruptcy so the taxpayers can pay their credit default swaps at 100% instead of maybe 35% in a reasonable cram-down. You people are missing the point--we're worried about whether some house in a crowded desert is worth 500,000 or $600,000 while the treasury is looted by Lynch-America and Gold-Mine Sack-Sam. We are spiraling out of control while many of you are still wondering if you can get a granite counter-top with renaissance garbage cans at the next auction. These aren't green shoots, they're Charybdis' green tentacles. What if everything you thought you knew was wrong? Almost everything is a spin and meant to put yourself in the usury bondage? Did you know that the bankers started both world wars? Do you realize yet that it was a war against the bankers and we helped the bankers win? Do you realize we have lost this war to the bankers? They have pillaged our treasury and are about to do it again. Just as they secured their counterparty CDS positions with AIG ‘bailout’ money, they are doing the same with Chrysler–forcing them into bankruptcy so the taxpayers can pay their credit default swaps at 100% instead of maybe 35% in a reasonable cram-down. You people are missing the point–we’re worried about whether some house in a crowded desert is worth 500,000 or $600,000 while the treasury is looted by Lynch-America and Gold-Mine Sack-Sam. We are spiraling out of control while many of you are still wondering if you can get a granite counter-top with renaissance garbage cans at the next auction. These aren’t green shoots, they’re Charybdis’ green tentacles.

]]> By: Kevin http://www.doctorhousingbubble.com/westside-los-angeles-even-prime-real-estate-not-immune-from-california-housing-crash-examining-the-westside-luxury-community-with-brentwood-and-pacific-palisades/#comment-36138 Kevin Tue, 12 May 2009 21:27:17 +0000 http://www.doctorhousingbubble.com/?p=1791#comment-36138 Totally agree with your article but I think you overstate the bubble effect using the BLM inflation calculator with 1997 as a base point. To wit the last time we had a housing bubble occurred during the the 1986 - 1989 mania. It was also a time of houses doubling in value in a year or two and the first time we saw bidding wars. When the So Cal market crashed in 1990 - recession plus end of the cold war and loss of aerospace jobs - it did not bottom until 1995 and home prices did not recover to the 1990 level until 1999. I would prefer to use 1999 as a starting point which still yields a number - $578,000 - 32% below the current sales price! Totally agree with your article but I think you overstate the bubble effect using the BLM inflation calculator with 1997 as a base point. To wit the last time we had a housing bubble occurred during the the 1986 – 1989 mania. It was also a time of houses doubling in value in a year or two and the first time we saw bidding wars. When the So Cal market crashed in 1990 – recession plus end of the cold war and loss of aerospace jobs – it did not bottom until 1995 and home prices did not recover to the 1990 level until 1999.

I would prefer to use 1999 as a starting point which still yields a number – $578,000 – 32% below the current sales price!

]]> By: NoHoDolphin http://www.doctorhousingbubble.com/westside-los-angeles-even-prime-real-estate-not-immune-from-california-housing-crash-examining-the-westside-luxury-community-with-brentwood-and-pacific-palisades/#comment-36136 NoHoDolphin Tue, 12 May 2009 18:09:20 +0000 http://www.doctorhousingbubble.com/?p=1791#comment-36136 Hi all, I know that this site is mostly concentrated on the Westside but I'm hoping to pick some brains here about the SFV. I know that the good areas are still in line to get hit with the Tsunami even though prices there have dropped - obviously some areas (bars on windows) more than others but it would stand to reason that if the Westside drops to $300-$500 for their lower end that mid-upper Valley should go down to at least $200? any thoughts out there? thansk, Hi all,

I know that this site is mostly concentrated on the Westside but I’m hoping to pick some brains here about the SFV. I know that the good areas are still in line to get hit with the Tsunami even though prices there have dropped – obviously some areas (bars on windows) more than others but it would stand to reason that if the Westside drops to $300-$500 for their lower end that mid-upper Valley should go down to at least $200?
any thoughts out there?

thansk,

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