[Daniel]

Please tell me it’s not called Carmel Valley Highlands 🙂 What’s next? “Carmel Mountain Flatlands”? “Carmel Rainy Deserts”?

[Daniel]

Please tell me it’s not called Carmel Valley Highlands 🙂 What’s next? “Carmel Mountain Flatlands”? “Carmel Rainy Deserts”?

[Daniel]

Please tell me it’s not called Carmel Valley Highlands 🙂 What’s next? “Carmel Mountain Flatlands”? “Carmel Rainy Deserts”?

[Daniel]

Please tell me it’s not called Carmel Valley Highlands 🙂 What’s next? “Carmel Mountain Flatlands”? “Carmel Rainy Deserts”?

[Daniel]

HELOC is the new subprime…

http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

Or, to put it another way, the headline should read:

“WaMu closes barn door. Horses last seen in 2005”

[Daniel]

HELOC is the new subprime…

http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

Or, to put it another way, the headline should read:

“WaMu closes barn door. Horses last seen in 2005”

[Daniel]

HELOC is the new subprime…

http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

Or, to put it another way, the headline should read:

“WaMu closes barn door. Horses last seen in 2005”

[Daniel]

HELOC is the new subprime…

http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

Or, to put it another way, the headline should read:

“WaMu closes barn door. Horses last seen in 2005”

[Daniel]

HELOC is the new subprime…

http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

Or, to put it another way, the headline should read:

“WaMu closes barn door. Horses last seen in 2005”

[Daniel]

I’ve said this before, and I’ll probably have to say it many more times this year: “bottom” means different things to different people. I’m willing to bet that the folks on this site concern themselves with the “price bottom”, and couldn’t care less about the bottom in residential investment, new home construction, new home sales, etc. On the other hand, economists take the opposing view: if construction and sales stabilize, that’s what matters most to the economy. Prices sliding a couple more years are not that big of a deal.

So, I think that we’ll hear bottom calls starting this year (2008 is likely to be the worst year for residential investment, and 2009 should be better, imho) all the way to 2010 and beyond, when prices will probably bottom out. As long as we’re talking about different things, we can all be right 🙂

[Daniel]

I’ve said this before, and I’ll probably have to say it many more times this year: “bottom” means different things to different people. I’m willing to bet that the folks on this site concern themselves with the “price bottom”, and couldn’t care less about the bottom in residential investment, new home construction, new home sales, etc. On the other hand, economists take the opposing view: if construction and sales stabilize, that’s what matters most to the economy. Prices sliding a couple more years are not that big of a deal.

So, I think that we’ll hear bottom calls starting this year (2008 is likely to be the worst year for residential investment, and 2009 should be better, imho) all the way to 2010 and beyond, when prices will probably bottom out. As long as we’re talking about different things, we can all be right 🙂

[Daniel]

I’ve said this before, and I’ll probably have to say it many more times this year: “bottom” means different things to different people. I’m willing to bet that the folks on this site concern themselves with the “price bottom”, and couldn’t care less about the bottom in residential investment, new home construction, new home sales, etc. On the other hand, economists take the opposing view: if construction and sales stabilize, that’s what matters most to the economy. Prices sliding a couple more years are not that big of a deal.

So, I think that we’ll hear bottom calls starting this year (2008 is likely to be the worst year for residential investment, and 2009 should be better, imho) all the way to 2010 and beyond, when prices will probably bottom out. As long as we’re talking about different things, we can all be right 🙂

[Daniel]

I’ve said this before, and I’ll probably have to say it many more times this year: “bottom” means different things to different people. I’m willing to bet that the folks on this site concern themselves with the “price bottom”, and couldn’t care less about the bottom in residential investment, new home construction, new home sales, etc. On the other hand, economists take the opposing view: if construction and sales stabilize, that’s what matters most to the economy. Prices sliding a couple more years are not that big of a deal.

So, I think that we’ll hear bottom calls starting this year (2008 is likely to be the worst year for residential investment, and 2009 should be better, imho) all the way to 2010 and beyond, when prices will probably bottom out. As long as we’re talking about different things, we can all be right 🙂

[Daniel]

I’ve said this before, and I’ll probably have to say it many more times this year: “bottom” means different things to different people. I’m willing to bet that the folks on this site concern themselves with the “price bottom”, and couldn’t care less about the bottom in residential investment, new home construction, new home sales, etc. On the other hand, economists take the opposing view: if construction and sales stabilize, that’s what matters most to the economy. Prices sliding a couple more years are not that big of a deal.

So, I think that we’ll hear bottom calls starting this year (2008 is likely to be the worst year for residential investment, and 2009 should be better, imho) all the way to 2010 and beyond, when prices will probably bottom out. As long as we’re talking about different things, we can all be right 🙂

[Daniel]

FLU, rents in CV are pretty high, especially for nicer properties. I know of a very beautiful 2,200 sq ft house that went for $3,500/month last fall, with multiple offers on it. I also know of at least 3 others, of the same size, and in the same general area, that sat on the market for months, and probably ended up finding tenants in the $2,500 – $2,800 range.

In the rental market, condition of the property is even more important than in the purchase market. You can always remodel a house you buy, but not one you rent.

[Author]

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