Banks Too Optimistic About Housing

[wannabe2077]

California has two parts – Inland Empire, Central Valley that has collapsed.

The coastal California – LA, SD, SF has not declined too much.

[CA renter]

The coastal California – LA, SD, SF has not declined too much.
————————

I can show you many parts of SD and LA that have already seen 50%+ declines. What we are seeing is the result of the credit bubble collapsing (as it should). If prices went up as a result of the credit bubble, they will fall just the same. The only difference is the timing.

[CA renter]

The coastal California – LA, SD, SF has not declined too much.
————————

I can show you many parts of SD and LA that have already seen 50%+ declines. What we are seeing is the result of the credit bubble collapsing (as it should). If prices went up as a result of the credit bubble, they will fall just the same. The only difference is the timing.

[CA renter]

The coastal California – LA, SD, SF has not declined too much.
————————

I can show you many parts of SD and LA that have already seen 50%+ declines. What we are seeing is the result of the credit bubble collapsing (as it should). If prices went up as a result of the credit bubble, they will fall just the same. The only difference is the timing.

[CA renter]

The coastal California – LA, SD, SF has not declined too much.
————————

I can show you many parts of SD and LA that have already seen 50%+ declines. What we are seeing is the result of the credit bubble collapsing (as it should). If prices went up as a result of the credit bubble, they will fall just the same. The only difference is the timing.

[CA renter]

The coastal California – LA, SD, SF has not declined too much.
————————

I can show you many parts of SD and LA that have already seen 50%+ declines. What we are seeing is the result of the credit bubble collapsing (as it should). If prices went up as a result of the credit bubble, they will fall just the same. The only difference is the timing.

[cr]

LA has dropped 20%. People say the “industry” here isolates it, but it’s simply not true.

Chris Thornberg:

“…the problem we have out there is that prices in much of California tripled over the course of the last 10-12 years – tripled – and then when you look at incomes that went up by 30% well that doesn’t make any sense. You cannot have home prices go up by 300% and incomes go up by 30&, that makes no sense, and we’re seeing the back end of that.”

The Housing Market’s Falling Prices – KQED Public Radio, Forum 2008-06-30

This of course varies by location, but the point stands.

[cr]

LA has dropped 20%. People say the “industry” here isolates it, but it’s simply not true.

Chris Thornberg:

“…the problem we have out there is that prices in much of California tripled over the course of the last 10-12 years – tripled – and then when you look at incomes that went up by 30% well that doesn’t make any sense. You cannot have home prices go up by 300% and incomes go up by 30&, that makes no sense, and we’re seeing the back end of that.”

The Housing Market’s Falling Prices – KQED Public Radio, Forum 2008-06-30

This of course varies by location, but the point stands.

[cr]

LA has dropped 20%. People say the “industry” here isolates it, but it’s simply not true.

Chris Thornberg:

“…the problem we have out there is that prices in much of California tripled over the course of the last 10-12 years – tripled – and then when you look at incomes that went up by 30% well that doesn’t make any sense. You cannot have home prices go up by 300% and incomes go up by 30&, that makes no sense, and we’re seeing the back end of that.”

The Housing Market’s Falling Prices – KQED Public Radio, Forum 2008-06-30

This of course varies by location, but the point stands.

[cr]

LA has dropped 20%. People say the “industry” here isolates it, but it’s simply not true.

Chris Thornberg:

“…the problem we have out there is that prices in much of California tripled over the course of the last 10-12 years – tripled – and then when you look at incomes that went up by 30% well that doesn’t make any sense. You cannot have home prices go up by 300% and incomes go up by 30&, that makes no sense, and we’re seeing the back end of that.”

The Housing Market’s Falling Prices – KQED Public Radio, Forum 2008-06-30

This of course varies by location, but the point stands.

[cr]

LA has dropped 20%. People say the “industry” here isolates it, but it’s simply not true.

Chris Thornberg:

“…the problem we have out there is that prices in much of California tripled over the course of the last 10-12 years – tripled – and then when you look at incomes that went up by 30% well that doesn’t make any sense. You cannot have home prices go up by 300% and incomes go up by 30&, that makes no sense, and we’re seeing the back end of that.”

The Housing Market’s Falling Prices – KQED Public Radio, Forum 2008-06-30

This of course varies by location, but the point stands.

[highpacific]

LA, SD, SF has not declined!

> Submitted by wannabe2077 on September 17, 2008 – 9:05pm.
>California has two parts – Inland Empire, Central Valley that has collapsed.
>The coastal California – LA, SD, SF has not declined too much.

“Denial (also called abnegation) is a defense mechanism postulated by Sigmund Freud, in which a person is faced with a fact that is too uncomfortable to accept and rejects it instead, insisting that it is not true despite what may be overwhelming evidence.”

[highpacific]

LA, SD, SF has not declined!

> Submitted by wannabe2077 on September 17, 2008 – 9:05pm.
>California has two parts – Inland Empire, Central Valley that has collapsed.
>The coastal California – LA, SD, SF has not declined too much.

“Denial (also called abnegation) is a defense mechanism postulated by Sigmund Freud, in which a person is faced with a fact that is too uncomfortable to accept and rejects it instead, insisting that it is not true despite what may be overwhelming evidence.”

[highpacific]

LA, SD, SF has not declined!

> Submitted by wannabe2077 on September 17, 2008 – 9:05pm.
>California has two parts – Inland Empire, Central Valley that has collapsed.
>The coastal California – LA, SD, SF has not declined too much.

“Denial (also called abnegation) is a defense mechanism postulated by Sigmund Freud, in which a person is faced with a fact that is too uncomfortable to accept and rejects it instead, insisting that it is not true despite what may be overwhelming evidence.”

[highpacific]

LA, SD, SF has not declined!

> Submitted by wannabe2077 on September 17, 2008 – 9:05pm.
>California has two parts – Inland Empire, Central Valley that has collapsed.
>The coastal California – LA, SD, SF has not declined too much.

“Denial (also called abnegation) is a defense mechanism postulated by Sigmund Freud, in which a person is faced with a fact that is too uncomfortable to accept and rejects it instead, insisting that it is not true despite what may be overwhelming evidence.”

[Author]

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