[cr]

It diminishes the respectability of this site and it’s valuable contributors when people like this come along and cry foul to anyone who thinks a housing correction is in order, yet is guilty of their own accusations, while showing nothing but complete ignorance in making such ludicrous claims.

I couldn’t be happier as a renter, as long as my landlord doen’t start gloating about having stood in breadlines as a child, and call me bitter about not being one of the 2 million people recieving default notices.

Here’s the number MPO – 1-888-995-HOPE, it’s probably busy.

[cr]

It diminishes the respectability of this site and it’s valuable contributors when people like this come along and cry foul to anyone who thinks a housing correction is in order, yet is guilty of their own accusations, while showing nothing but complete ignorance in making such ludicrous claims.

I couldn’t be happier as a renter, as long as my landlord doen’t start gloating about having stood in breadlines as a child, and call me bitter about not being one of the 2 million people recieving default notices.

Here’s the number MPO – 1-888-995-HOPE, it’s probably busy.

[cr]

It diminishes the respectability of this site and it’s valuable contributors when people like this come along and cry foul to anyone who thinks a housing correction is in order, yet is guilty of their own accusations, while showing nothing but complete ignorance in making such ludicrous claims.

I couldn’t be happier as a renter, as long as my landlord doen’t start gloating about having stood in breadlines as a child, and call me bitter about not being one of the 2 million people recieving default notices.

Here’s the number MPO – 1-888-995-HOPE, it’s probably busy.

[cr]

It diminishes the respectability of this site and it’s valuable contributors when people like this come along and cry foul to anyone who thinks a housing correction is in order, yet is guilty of their own accusations, while showing nothing but complete ignorance in making such ludicrous claims.

I couldn’t be happier as a renter, as long as my landlord doen’t start gloating about having stood in breadlines as a child, and call me bitter about not being one of the 2 million people recieving default notices.

Here’s the number MPO – 1-888-995-HOPE, it’s probably busy.

[cr]

It diminishes the respectability of this site and it’s valuable contributors when people like this come along and cry foul to anyone who thinks a housing correction is in order, yet is guilty of their own accusations, while showing nothing but complete ignorance in making such ludicrous claims.

I couldn’t be happier as a renter, as long as my landlord doen’t start gloating about having stood in breadlines as a child, and call me bitter about not being one of the 2 million people recieving default notices.

Here’s the number MPO – 1-888-995-HOPE, it’s probably busy.

[cr]

This article just showed up on MSN: http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/HomePricesByCity.aspx?GT1=10622

Of most concern to us:
Metro area ——————————Rank-Qtr–1yr–5yr
Los Angeles-Long Beach-Glendale, CA–206 -0.53 -0.07 107.86
Santa Ana-Anaheim-Irvine, CA———-249 -1.89 -3.49 86.09
San Diego-Carlsbad-San Marcos, CA—-262 -1.85 -5.07 61.75
Riverside-San Bernardino-Ontario, CA–240 -2.25 -2.37 107.8

LA and Riverside still have over 100% appreciation rates in 5 years. Still some damage to come for sure.

Not that it changes what’s happening, but the use of “metro area” seems odd. In LA they use “LA, Long Beach, Glendale” as one area. That encompasses at least 7 areas codes (213, 323, 661, 626, 310, 818, and 562 are all I can think of) probably 10x as many zip codes, and maybe 10 million people, where Wausau, WI has less than 50,000 people, and probably one Zip code.

If anything it probably masks the real damage.

[cr]

This article just showed up on MSN: http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/HomePricesByCity.aspx?GT1=10622

Of most concern to us:
Metro area ——————————Rank-Qtr–1yr–5yr
Los Angeles-Long Beach-Glendale, CA–206 -0.53 -0.07 107.86
Santa Ana-Anaheim-Irvine, CA———-249 -1.89 -3.49 86.09
San Diego-Carlsbad-San Marcos, CA—-262 -1.85 -5.07 61.75
Riverside-San Bernardino-Ontario, CA–240 -2.25 -2.37 107.8

LA and Riverside still have over 100% appreciation rates in 5 years. Still some damage to come for sure.

Not that it changes what’s happening, but the use of “metro area” seems odd. In LA they use “LA, Long Beach, Glendale” as one area. That encompasses at least 7 areas codes (213, 323, 661, 626, 310, 818, and 562 are all I can think of) probably 10x as many zip codes, and maybe 10 million people, where Wausau, WI has less than 50,000 people, and probably one Zip code.

If anything it probably masks the real damage.

[cr]

This article just showed up on MSN: http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/HomePricesByCity.aspx?GT1=10622

Of most concern to us:
Metro area ——————————Rank-Qtr–1yr–5yr
Los Angeles-Long Beach-Glendale, CA–206 -0.53 -0.07 107.86
Santa Ana-Anaheim-Irvine, CA———-249 -1.89 -3.49 86.09
San Diego-Carlsbad-San Marcos, CA—-262 -1.85 -5.07 61.75
Riverside-San Bernardino-Ontario, CA–240 -2.25 -2.37 107.8

LA and Riverside still have over 100% appreciation rates in 5 years. Still some damage to come for sure.

Not that it changes what’s happening, but the use of “metro area” seems odd. In LA they use “LA, Long Beach, Glendale” as one area. That encompasses at least 7 areas codes (213, 323, 661, 626, 310, 818, and 562 are all I can think of) probably 10x as many zip codes, and maybe 10 million people, where Wausau, WI has less than 50,000 people, and probably one Zip code.

If anything it probably masks the real damage.

[cr]

This article just showed up on MSN: http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/HomePricesByCity.aspx?GT1=10622

Of most concern to us:
Metro area ——————————Rank-Qtr–1yr–5yr
Los Angeles-Long Beach-Glendale, CA–206 -0.53 -0.07 107.86
Santa Ana-Anaheim-Irvine, CA———-249 -1.89 -3.49 86.09
San Diego-Carlsbad-San Marcos, CA—-262 -1.85 -5.07 61.75
Riverside-San Bernardino-Ontario, CA–240 -2.25 -2.37 107.8

LA and Riverside still have over 100% appreciation rates in 5 years. Still some damage to come for sure.

Not that it changes what’s happening, but the use of “metro area” seems odd. In LA they use “LA, Long Beach, Glendale” as one area. That encompasses at least 7 areas codes (213, 323, 661, 626, 310, 818, and 562 are all I can think of) probably 10x as many zip codes, and maybe 10 million people, where Wausau, WI has less than 50,000 people, and probably one Zip code.

If anything it probably masks the real damage.

[cr]

This article just showed up on MSN: http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/HomePricesByCity.aspx?GT1=10622

Of most concern to us:
Metro area ——————————Rank-Qtr–1yr–5yr
Los Angeles-Long Beach-Glendale, CA–206 -0.53 -0.07 107.86
Santa Ana-Anaheim-Irvine, CA———-249 -1.89 -3.49 86.09
San Diego-Carlsbad-San Marcos, CA—-262 -1.85 -5.07 61.75
Riverside-San Bernardino-Ontario, CA–240 -2.25 -2.37 107.8

LA and Riverside still have over 100% appreciation rates in 5 years. Still some damage to come for sure.

Not that it changes what’s happening, but the use of “metro area” seems odd. In LA they use “LA, Long Beach, Glendale” as one area. That encompasses at least 7 areas codes (213, 323, 661, 626, 310, 818, and 562 are all I can think of) probably 10x as many zip codes, and maybe 10 million people, where Wausau, WI has less than 50,000 people, and probably one Zip code.

If anything it probably masks the real damage.

[cr]

“California is a big state with a lot of people. So wtf does the article have to say?”

It says “A U.S. Conference of Mayors report predicted a 16% decline for California home prices in 2008.”

And you’re wrong about SF:

Here’s the last 6 months of data as a percentage of 2000 from Case Schiller, all DOWN:

April 2007 211.47
May 2007 210.89
June 2007 209.48
July 2007 208.64
August 2007 208.15
September 2007 206.46

SF has had a NET 5% decrease since May of 2006. It may not be much, but there goes the Super City theory.

By 2009 I expect a NET drop from the peak of 25-30%. There will be ups and downs the whole way, but it will continue for at least 5 more years.

[cr]

“California is a big state with a lot of people. So wtf does the article have to say?”

It says “A U.S. Conference of Mayors report predicted a 16% decline for California home prices in 2008.”

And you’re wrong about SF:

Here’s the last 6 months of data as a percentage of 2000 from Case Schiller, all DOWN:

April 2007 211.47
May 2007 210.89
June 2007 209.48
July 2007 208.64
August 2007 208.15
September 2007 206.46

SF has had a NET 5% decrease since May of 2006. It may not be much, but there goes the Super City theory.

By 2009 I expect a NET drop from the peak of 25-30%. There will be ups and downs the whole way, but it will continue for at least 5 more years.

[cr]

“California is a big state with a lot of people. So wtf does the article have to say?”

It says “A U.S. Conference of Mayors report predicted a 16% decline for California home prices in 2008.”

And you’re wrong about SF:

Here’s the last 6 months of data as a percentage of 2000 from Case Schiller, all DOWN:

April 2007 211.47
May 2007 210.89
June 2007 209.48
July 2007 208.64
August 2007 208.15
September 2007 206.46

SF has had a NET 5% decrease since May of 2006. It may not be much, but there goes the Super City theory.

By 2009 I expect a NET drop from the peak of 25-30%. There will be ups and downs the whole way, but it will continue for at least 5 more years.

[cr]

“California is a big state with a lot of people. So wtf does the article have to say?”

It says “A U.S. Conference of Mayors report predicted a 16% decline for California home prices in 2008.”

And you’re wrong about SF:

Here’s the last 6 months of data as a percentage of 2000 from Case Schiller, all DOWN:

April 2007 211.47
May 2007 210.89
June 2007 209.48
July 2007 208.64
August 2007 208.15
September 2007 206.46

SF has had a NET 5% decrease since May of 2006. It may not be much, but there goes the Super City theory.

By 2009 I expect a NET drop from the peak of 25-30%. There will be ups and downs the whole way, but it will continue for at least 5 more years.

[cr]

“California is a big state with a lot of people. So wtf does the article have to say?”

It says “A U.S. Conference of Mayors report predicted a 16% decline for California home prices in 2008.”

And you’re wrong about SF:

Here’s the last 6 months of data as a percentage of 2000 from Case Schiller, all DOWN:

April 2007 211.47
May 2007 210.89
June 2007 209.48
July 2007 208.64
August 2007 208.15
September 2007 206.46

SF has had a NET 5% decrease since May of 2006. It may not be much, but there goes the Super City theory.

By 2009 I expect a NET drop from the peak of 25-30%. There will be ups and downs the whole way, but it will continue for at least 5 more years.

[Author]

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