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I know I heard that 95% part correctly, although i have no way to validate his claim it may account for the discrepency in the inventory stats.

http://www.realtytrac.com/Mapping/Mapping/DetailsMap.aspx?criteriaType=zip&criteriaValue=92104

Just eyeballing the worst areas of SD with realtytrac would seem to indicate that as well. I’m getting actually seriously worried at this point, given the carnage thats present and considering we are just on the upswing of ARM resets, interest rates are climbing and job growth is hitting a wall. Now think what a recession will do. A fifty percent drop seems optimistic at this point.

So I wonder if the banks are playing some sort of game holding properties like this to try and stave of a crash, or there is some other not-obvious-to-me benefit to doing so.

[kewp]

Foreclosure activity still seems brisk in the area:

http://www.realtytrac.com/Mapping/Mapping/DetailsMap.aspx?criteriaType=zip&criteriaValue=92127&code=

…so if you can wait a year go for it.

[kewp]

Foreclosure activity still seems brisk in the area:

http://www.realtytrac.com/Mapping/Mapping/DetailsMap.aspx?criteriaType=zip&criteriaValue=92127&code=

…so if you can wait a year go for it.

[kewp]

http://www.realtytrac.com/Mapping/Mapping/DetailsMap.aspx?criteriaType=zip&criteriaValue=92562&code=

Amazing! The market is melting down so fast here there are literally too many distressed properties to list! And this is just getting started!

I guess the upside is in a year or so all the illegals will be able to buy McMansions with cash!

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http://www.realtytrac.com/Mapping/Mapping/DetailsMap.aspx?criteriaType=zip&criteriaValue=92562&code=

Amazing! The market is melting down so fast here there are literally too many distressed properties to list! And this is just getting started!

I guess the upside is in a year or so all the illegals will be able to buy McMansions with cash!

[kewp]

In the face of a weak dollar what is it that Southern California makes that we can see an increase in exports that would help buffer this?

Well, we are going to be exporting housing at fire sale prices to Asian immigrants, right? The double-whammy of a crashing housing market and dollar must make California an attractive destination.

I really, really, wonder… more and more… if this entire mess is an engineered plan by wealthy Japanese and Chinese to basically occupy most of Southern California.

Not that I mind, I dig their women!

[kewp]

In the face of a weak dollar what is it that Southern California makes that we can see an increase in exports that would help buffer this?

Well, we are going to be exporting housing at fire sale prices to Asian immigrants, right? The double-whammy of a crashing housing market and dollar must make California an attractive destination.

I really, really, wonder… more and more… if this entire mess is an engineered plan by wealthy Japanese and Chinese to basically occupy most of Southern California.

Not that I mind, I dig their women!

[kewp]

I’ll second that, Lonestar.

For us savers, we’ve been living in a self-induced recession for the last decade. It’s about time the overconsumers went on a diet.

[kewp]

I’ll second that, Lonestar.

For us savers, we’ve been living in a self-induced recession for the last decade. It’s about time the overconsumers went on a diet.

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I’ll agree the market is always right. It’s not surprising in the least that the declining dollar is pushing up the various indices in the absence of any solid fundamentals. Unfortunately, due to that inflation the actual real value of the market is less than Y2K levels.

So yeah, the Dow soars to record highs, but not enough to keep up with the cost of energy, food and basic goods. Funny that!

I’ll agree that I don’t see a 1929 like event happening again (at least, I hope not). We have better checks and balances now.

[kewp]

I’ll agree the market is always right. It’s not surprising in the least that the declining dollar is pushing up the various indices in the absence of any solid fundamentals. Unfortunately, due to that inflation the actual real value of the market is less than Y2K levels.

So yeah, the Dow soars to record highs, but not enough to keep up with the cost of energy, food and basic goods. Funny that!

I’ll agree that I don’t see a 1929 like event happening again (at least, I hope not). We have better checks and balances now.

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Watch the foreclosures. They should peak, drop, then plateau, which should be as close to a bottom as anyone can call.

[kewp]

Watch the foreclosures. They should peak, drop, then plateau, which should be as close to a bottom as anyone can call.

[kewp]

Can someone paraphrase what this event means to MBS/CDO/CMO etc., markets? Can some hedge funds be expected to melt down? Any impact on non-mortgage debt markets? can it unwind treasuries? push $ over the edge? Stock market seems not to be noticing any of this turmoil.

As I understand it, ABX is just an index of the securities you’ve mentioned. So it is reflecting their loss of value, not driving it.

Regarding hedge funds, thats a catch-all phrase for a class of funds that are open to accredited investors only and not significantly regulated. They can follow any number of investment strategies and do not necessarily have to be exposed to REI related risks. In fact, as has been mentioned elsewhere, some hedge funds have been shorting the MBS market and stand to make a killing.

But, as we saw with the BearStearns fiasco, others are highly leveraged (another common hedge fund trick) in the MBS market and stand to be totally wiped out.

Regarding treasuries, the dollar and stock market, who can say. I would think treasuries would become more popular (stable investment), the dollar will continue to tank and the stock market keep going up.

[kewp]

Can someone paraphrase what this event means to MBS/CDO/CMO etc., markets? Can some hedge funds be expected to melt down? Any impact on non-mortgage debt markets? can it unwind treasuries? push $ over the edge? Stock market seems not to be noticing any of this turmoil.

As I understand it, ABX is just an index of the securities you’ve mentioned. So it is reflecting their loss of value, not driving it.

Regarding hedge funds, thats a catch-all phrase for a class of funds that are open to accredited investors only and not significantly regulated. They can follow any number of investment strategies and do not necessarily have to be exposed to REI related risks. In fact, as has been mentioned elsewhere, some hedge funds have been shorting the MBS market and stand to make a killing.

But, as we saw with the BearStearns fiasco, others are highly leveraged (another common hedge fund trick) in the MBS market and stand to be totally wiped out.

Regarding treasuries, the dollar and stock market, who can say. I would think treasuries would become more popular (stable investment), the dollar will continue to tank and the stock market keep going up.

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