[cr]

“A total of 13,240…were sold in Southern California last month, up 0.5 percent from November and down 45.3 percent from a year earlier…”

Wow. No spinning this one. Month to month = useless, YOY = devastating.

“Last month’s sales were by far the lowest for any December in DataQuick’s statistics, which go back to 1988,”

“The sales count was 23.5 percent below the previous December low of 17,272 in 1990,”.

This correction is shaping up to dwarf the 90’s correction, as it should.

Prices have fallen 15.8 percent from the peak during the spring and summer.

Can’t wait to hear the NAR’s take on this one. Possible excuses include:

– The credit crisis is preventing anyone from buying
– The unseasonably cold storm last week sent people to the mountains instead of home shopping
– It’s playoff season
– Fires in the SoCal area have made buyers apprehensive
– The election issues have distracted people’s attention

And of course 2008 will be the bottom.

[cr]

“A total of 13,240…were sold in Southern California last month, up 0.5 percent from November and down 45.3 percent from a year earlier…”

Wow. No spinning this one. Month to month = useless, YOY = devastating.

“Last month’s sales were by far the lowest for any December in DataQuick’s statistics, which go back to 1988,”

“The sales count was 23.5 percent below the previous December low of 17,272 in 1990,”.

This correction is shaping up to dwarf the 90’s correction, as it should.

Prices have fallen 15.8 percent from the peak during the spring and summer.

Can’t wait to hear the NAR’s take on this one. Possible excuses include:

– The credit crisis is preventing anyone from buying
– The unseasonably cold storm last week sent people to the mountains instead of home shopping
– It’s playoff season
– Fires in the SoCal area have made buyers apprehensive
– The election issues have distracted people’s attention

And of course 2008 will be the bottom.

[cr]

“A total of 13,240…were sold in Southern California last month, up 0.5 percent from November and down 45.3 percent from a year earlier…”

Wow. No spinning this one. Month to month = useless, YOY = devastating.

“Last month’s sales were by far the lowest for any December in DataQuick’s statistics, which go back to 1988,”

“The sales count was 23.5 percent below the previous December low of 17,272 in 1990,”.

This correction is shaping up to dwarf the 90’s correction, as it should.

Prices have fallen 15.8 percent from the peak during the spring and summer.

Can’t wait to hear the NAR’s take on this one. Possible excuses include:

– The credit crisis is preventing anyone from buying
– The unseasonably cold storm last week sent people to the mountains instead of home shopping
– It’s playoff season
– Fires in the SoCal area have made buyers apprehensive
– The election issues have distracted people’s attention

And of course 2008 will be the bottom.

[cr]

“A total of 13,240…were sold in Southern California last month, up 0.5 percent from November and down 45.3 percent from a year earlier…”

Wow. No spinning this one. Month to month = useless, YOY = devastating.

“Last month’s sales were by far the lowest for any December in DataQuick’s statistics, which go back to 1988,”

“The sales count was 23.5 percent below the previous December low of 17,272 in 1990,”.

This correction is shaping up to dwarf the 90’s correction, as it should.

Prices have fallen 15.8 percent from the peak during the spring and summer.

Can’t wait to hear the NAR’s take on this one. Possible excuses include:

– The credit crisis is preventing anyone from buying
– The unseasonably cold storm last week sent people to the mountains instead of home shopping
– It’s playoff season
– Fires in the SoCal area have made buyers apprehensive
– The election issues have distracted people’s attention

And of course 2008 will be the bottom.

[cr]

“A total of 13,240…were sold in Southern California last month, up 0.5 percent from November and down 45.3 percent from a year earlier…”

Wow. No spinning this one. Month to month = useless, YOY = devastating.

“Last month’s sales were by far the lowest for any December in DataQuick’s statistics, which go back to 1988,”

“The sales count was 23.5 percent below the previous December low of 17,272 in 1990,”.

This correction is shaping up to dwarf the 90’s correction, as it should.

Prices have fallen 15.8 percent from the peak during the spring and summer.

Can’t wait to hear the NAR’s take on this one. Possible excuses include:

– The credit crisis is preventing anyone from buying
– The unseasonably cold storm last week sent people to the mountains instead of home shopping
– It’s playoff season
– Fires in the SoCal area have made buyers apprehensive
– The election issues have distracted people’s attention

And of course 2008 will be the bottom.

[cr]

PR in OC thanks for the info.

For what little I hav eon the table now I just keep telling myself I’m in it for the long rung, but I can’t help but think it’s going to be up one day like yesterday (174pts), and down the next like today (down 270pts).

You can bet with a day linke this Wall Street will start talking of more than a half point cut.

It’s going to be a long year.

[cr]

PR in OC thanks for the info.

For what little I hav eon the table now I just keep telling myself I’m in it for the long rung, but I can’t help but think it’s going to be up one day like yesterday (174pts), and down the next like today (down 270pts).

You can bet with a day linke this Wall Street will start talking of more than a half point cut.

It’s going to be a long year.

[cr]

PR in OC thanks for the info.

For what little I hav eon the table now I just keep telling myself I’m in it for the long rung, but I can’t help but think it’s going to be up one day like yesterday (174pts), and down the next like today (down 270pts).

You can bet with a day linke this Wall Street will start talking of more than a half point cut.

It’s going to be a long year.

[cr]

PR in OC thanks for the info.

For what little I hav eon the table now I just keep telling myself I’m in it for the long rung, but I can’t help but think it’s going to be up one day like yesterday (174pts), and down the next like today (down 270pts).

You can bet with a day linke this Wall Street will start talking of more than a half point cut.

It’s going to be a long year.

[cr]

PR in OC thanks for the info.

For what little I hav eon the table now I just keep telling myself I’m in it for the long rung, but I can’t help but think it’s going to be up one day like yesterday (174pts), and down the next like today (down 270pts).

You can bet with a day linke this Wall Street will start talking of more than a half point cut.

It’s going to be a long year.

[cr]

Rent’s have gone up because prices have gone up, but they’re still not as out of whack as prices. I think we’re reaching the point (due to layoffs, living expenses, over-crowding, and demographic conditions) where we will see population declines, rent declines, and further price drops.

The psychological benefits of a home I would argue are most often imagined by those who have never owned. I used to think I was saavy because I didn’t want to throw money out the window by renting. I couldn’t be happier renting.

Foreclosures typically go for market value, not necessarily 50% below the FSBO down the street. Think of them as incremental corrections to inflated prices. And with an unprecedented number of them, and more on the way, prices will fall for a long time.

[cr]

Rent’s have gone up because prices have gone up, but they’re still not as out of whack as prices. I think we’re reaching the point (due to layoffs, living expenses, over-crowding, and demographic conditions) where we will see population declines, rent declines, and further price drops.

The psychological benefits of a home I would argue are most often imagined by those who have never owned. I used to think I was saavy because I didn’t want to throw money out the window by renting. I couldn’t be happier renting.

Foreclosures typically go for market value, not necessarily 50% below the FSBO down the street. Think of them as incremental corrections to inflated prices. And with an unprecedented number of them, and more on the way, prices will fall for a long time.

[cr]

Rent’s have gone up because prices have gone up, but they’re still not as out of whack as prices. I think we’re reaching the point (due to layoffs, living expenses, over-crowding, and demographic conditions) where we will see population declines, rent declines, and further price drops.

The psychological benefits of a home I would argue are most often imagined by those who have never owned. I used to think I was saavy because I didn’t want to throw money out the window by renting. I couldn’t be happier renting.

Foreclosures typically go for market value, not necessarily 50% below the FSBO down the street. Think of them as incremental corrections to inflated prices. And with an unprecedented number of them, and more on the way, prices will fall for a long time.

[cr]

Rent’s have gone up because prices have gone up, but they’re still not as out of whack as prices. I think we’re reaching the point (due to layoffs, living expenses, over-crowding, and demographic conditions) where we will see population declines, rent declines, and further price drops.

The psychological benefits of a home I would argue are most often imagined by those who have never owned. I used to think I was saavy because I didn’t want to throw money out the window by renting. I couldn’t be happier renting.

Foreclosures typically go for market value, not necessarily 50% below the FSBO down the street. Think of them as incremental corrections to inflated prices. And with an unprecedented number of them, and more on the way, prices will fall for a long time.

[cr]

Rent’s have gone up because prices have gone up, but they’re still not as out of whack as prices. I think we’re reaching the point (due to layoffs, living expenses, over-crowding, and demographic conditions) where we will see population declines, rent declines, and further price drops.

The psychological benefits of a home I would argue are most often imagined by those who have never owned. I used to think I was saavy because I didn’t want to throw money out the window by renting. I couldn’t be happier renting.

Foreclosures typically go for market value, not necessarily 50% below the FSBO down the street. Think of them as incremental corrections to inflated prices. And with an unprecedented number of them, and more on the way, prices will fall for a long time.

[Author]

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