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jpinpb.
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March 11, 2008 at 11:32 AM #12066March 11, 2008 at 11:41 AM #167408
cr
ParticipantThey claim this is an unlikely worst case scenario but entire article, and of course Yun’s comments, make no mention of the coming Alt-A crisis, the already rising unemployment, and the equity crisis.
Not to mention many say we are already in stagflation.
Based on the peak Case Shiller data a 40% decrease would be late 2002 prices for SD and Mid-late 2003 for LA.
March 11, 2008 at 11:41 AM #167833cr
ParticipantThey claim this is an unlikely worst case scenario but entire article, and of course Yun’s comments, make no mention of the coming Alt-A crisis, the already rising unemployment, and the equity crisis.
Not to mention many say we are already in stagflation.
Based on the peak Case Shiller data a 40% decrease would be late 2002 prices for SD and Mid-late 2003 for LA.
March 11, 2008 at 11:41 AM #167766cr
ParticipantThey claim this is an unlikely worst case scenario but entire article, and of course Yun’s comments, make no mention of the coming Alt-A crisis, the already rising unemployment, and the equity crisis.
Not to mention many say we are already in stagflation.
Based on the peak Case Shiller data a 40% decrease would be late 2002 prices for SD and Mid-late 2003 for LA.
March 11, 2008 at 11:41 AM #167731cr
ParticipantThey claim this is an unlikely worst case scenario but entire article, and of course Yun’s comments, make no mention of the coming Alt-A crisis, the already rising unemployment, and the equity crisis.
Not to mention many say we are already in stagflation.
Based on the peak Case Shiller data a 40% decrease would be late 2002 prices for SD and Mid-late 2003 for LA.
March 11, 2008 at 11:41 AM #167736cr
ParticipantThey claim this is an unlikely worst case scenario but entire article, and of course Yun’s comments, make no mention of the coming Alt-A crisis, the already rising unemployment, and the equity crisis.
Not to mention many say we are already in stagflation.
Based on the peak Case Shiller data a 40% decrease would be late 2002 prices for SD and Mid-late 2003 for LA.
March 11, 2008 at 12:28 PM #167433Deal Hunter
ParticipantNot the problem. A 40% decrease in home value is not something to worry about as much as other indicators. I don’t know if anyone remembers the 70% decrease in home values in the Antelope Valley of Southern California back in the early 90’s?
The index that should be worried over is the percentage of homes nationwide that are in foreclosure. Currently just over 1% nationwide. (I know in some markets it is higher – as much as 20%) In the Great Depression, that number was 40% nationwide.
Going back to 2002-2003 prices in SoCal is really not that bad a thing.
March 11, 2008 at 12:28 PM #167858Deal Hunter
ParticipantNot the problem. A 40% decrease in home value is not something to worry about as much as other indicators. I don’t know if anyone remembers the 70% decrease in home values in the Antelope Valley of Southern California back in the early 90’s?
The index that should be worried over is the percentage of homes nationwide that are in foreclosure. Currently just over 1% nationwide. (I know in some markets it is higher – as much as 20%) In the Great Depression, that number was 40% nationwide.
Going back to 2002-2003 prices in SoCal is really not that bad a thing.
March 11, 2008 at 12:28 PM #167791Deal Hunter
ParticipantNot the problem. A 40% decrease in home value is not something to worry about as much as other indicators. I don’t know if anyone remembers the 70% decrease in home values in the Antelope Valley of Southern California back in the early 90’s?
The index that should be worried over is the percentage of homes nationwide that are in foreclosure. Currently just over 1% nationwide. (I know in some markets it is higher – as much as 20%) In the Great Depression, that number was 40% nationwide.
Going back to 2002-2003 prices in SoCal is really not that bad a thing.
March 11, 2008 at 12:28 PM #167754Deal Hunter
ParticipantNot the problem. A 40% decrease in home value is not something to worry about as much as other indicators. I don’t know if anyone remembers the 70% decrease in home values in the Antelope Valley of Southern California back in the early 90’s?
The index that should be worried over is the percentage of homes nationwide that are in foreclosure. Currently just over 1% nationwide. (I know in some markets it is higher – as much as 20%) In the Great Depression, that number was 40% nationwide.
Going back to 2002-2003 prices in SoCal is really not that bad a thing.
March 11, 2008 at 12:28 PM #167759Deal Hunter
ParticipantNot the problem. A 40% decrease in home value is not something to worry about as much as other indicators. I don’t know if anyone remembers the 70% decrease in home values in the Antelope Valley of Southern California back in the early 90’s?
The index that should be worried over is the percentage of homes nationwide that are in foreclosure. Currently just over 1% nationwide. (I know in some markets it is higher – as much as 20%) In the Great Depression, that number was 40% nationwide.
Going back to 2002-2003 prices in SoCal is really not that bad a thing.
March 11, 2008 at 12:31 PM #167863jpinpb
ParticipantAren’t we already seeing 20% off peak in many areas, many different homes throughout SD county? Does that mean we hit bottom? I think we still have a ways to go before the market improves. Does that mean prices will just stay flat? With less people buying because of the difficulty w/financing and if there are still more places anticipated to be on the market, I would think prices would decline further.
March 11, 2008 at 12:31 PM #167796jpinpb
ParticipantAren’t we already seeing 20% off peak in many areas, many different homes throughout SD county? Does that mean we hit bottom? I think we still have a ways to go before the market improves. Does that mean prices will just stay flat? With less people buying because of the difficulty w/financing and if there are still more places anticipated to be on the market, I would think prices would decline further.
March 11, 2008 at 12:31 PM #167765jpinpb
ParticipantAren’t we already seeing 20% off peak in many areas, many different homes throughout SD county? Does that mean we hit bottom? I think we still have a ways to go before the market improves. Does that mean prices will just stay flat? With less people buying because of the difficulty w/financing and if there are still more places anticipated to be on the market, I would think prices would decline further.
March 11, 2008 at 12:31 PM #167760jpinpb
ParticipantAren’t we already seeing 20% off peak in many areas, many different homes throughout SD county? Does that mean we hit bottom? I think we still have a ways to go before the market improves. Does that mean prices will just stay flat? With less people buying because of the difficulty w/financing and if there are still more places anticipated to be on the market, I would think prices would decline further.
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