Higher End Properties Starting to Feel the Heat

[Ex-SD]

Here’s an excellent example of a higher end property in Manhattan Beach that was listed in June……..has not sold………and the price has been lowered $100k, four times…………and it’s still for sale.
http://mbcon.blogspot.com/2007/09/systematic-100k-cuts-on-elm.html

[Ex-SD]

And here’s some more in the West End of L.A.

http://westside-bubble.blogspot.com/2007/09/biggest-price-reductions.html

[LookoutBelow]

There is NO group or financial income range that wont be affected by the shitstorm coming…

A joker I played golf with last week told me his house was still worth almost double what he paid for it in 2000…I said Really?…."try" to sell it for that price then.…..He then told me that almost every house on his street has a for sale sign on it…Most people are all underwater already and the damn hasnt even broke yet !!!

Cognitive dissonance…google it if you dont know what it means….its in the lexicon for the "NEW", new economy…… 

[cr]

Here is a sign of things to come.

Nice place – Zillow says 1.8M, but I’m in LA so no interest for me. Anyone near Poway interested? It goes up for auction a week from Tuesday.

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