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lostkitty
Participantsdrealtor – If they use the low end of the “value range” doesnt it seem more accurate than using the high end? You would know better than myself – are people actually making offers within the boundaries of those “ranges”? That would surprise me.
ParticipantYes – duh.. I was in a hurry and so excited.. Sorry! If you look at their inventory #’s for San Diego on 9/1/05, it is way down around 2,000. That is certainly what the calculation was based on – that one very low inventory reading. You’d think they would have fixed that by now.
How about the 200%’s for Norfolk and Phoenix… ??? I’ll have to go look at that data too before I go spewing it to friends at dinner parties. Oh no fun… data data data…
ParticipantMy jaw is on the desk… Could that be a tyypo???
San Diego inventory vs 9 months ago up 507.5%!!!!!!!
The closest cities in inventory increase for the same period are:
1 Norfolk VA up 215%
2 Phoenix up 207%
3 Tuscon up 127%
4 Jacksonville up 122%
5 Riverside up 117%
6 Wash DC up 108%Any coincidence that four of the 7 cities (including San Diego) are heavily NAVY/military?
ParticipantI just saw this:
http://www.benengebreth.org/housingtracker/location/California/SanDiego/
Check out that rise in inventory!!!!! Wooohwee..
I think I better put this one in its own thread. Too bad I am too “wicked retaaahhded” as they say here in the NEast to do one of those hyperlinks…
ParticipantHere is her reply (as you can see I prety much cutnpasted the two suggestions from this blog. I nly added in the “babies dont buy houses” part to a section of what powayseller wrote. She did not respond to the links at the bottom):
From 2000-2004, LA County experienced annual average -22% domestic migration. Natural increase played a greater part in population growth in the coastal counties, whereas domestic migration was the main cause in the Inland Empire. Since 2000, Orange County experienced 14,000 net domestic outmigration. Domestic migrants to the Inland Empire came primarily from Los Angeles. Government Study[
Diane’s response ***** I get my census information directly from the U.S. Census Bureau and our census expert at the paper analyzes the data. We’re correct. ******
“Most of have these shaky loans can sell their homes”.
1) Why do we have record foreclosures? It is up 60% in California versus last year? Couldn’t these people sell?***** I don’t know why they’re starting the foreclosure process–they should be able to sell and come out OK. No matter, demand for homes still far outstrips supply. *****
2) Most people with “shaky loans” don’t even know they have them, think they’ll be able to pay the higher payments somehow, or don’t realize the market is going down and they will be upside down when it’s time to sell
***** I agree with you—and have written about this. Most people who got their interest-only loans—or worse, negative-amortization–don’t know what they’re in for. And economists worry about this. The market is still doing OK–it’s normal, in fact. The 20% appreciation was abnormal. *****
3) House prices have fallen 5-10% already, so anyone who bought in the last 2 years, has a high probability of being upside down on their mortgage. The shaky loans have prepayment penalties, and I know several people who are not refinancing from their ARM into a fixed rate mortgage because they don’t want to pay the 3 months interest that is the penalty.
***** Prices are still rising in the SoCal counties (year-over-year, which is what counts). They sometimes fall a bit for seasonal reasons. Appreciation is not in the double-digits anymore, but homes still are appreciating in the 7% range or so nearly everywhere (not everywhere, of course). Even those who bought two years ago should have equity gains, although you’re very right about pre-payment penalties with some loans. *****
4) The term “population stampede” is erroneous reporting. Births do not affect housing since babies do not stampede to buy homes. Please show your sources for this claim.
***** International immigration accounts for about 1.5 million per year. call it what you will. *****
5) Which economists have you spent “weeks talking to”?
***** I do my reporting well. I have for 30 years now (and have won numerous awards for it). I talk to the most widely respected economists in the country–every week. *****
***** This is my last response to your angry e-mails. We simply do not agree. You view journalists as people who tell “half-truths.” I respectfully beg to differ.
Diane Wedner *****
People can still sell their house in So California?
Ok what happened here?
HereAnd Here
and here this ones for sale exact same list price as paid for it 09/14/2005: $325,000:
And HereParticipantNo mind link… I just understood that portion of her post to be past tense, a different landlord than the one she has now. An incident resolved.
Obviously it is something in the past since she was litigating over a landlord keeping a deposit. Deposits are not returned until a person MOVES OUT. Do you think she would still be renting from someone she had to get legal representation against?
I know you said you have multiple advanced degrees, but between your spelling and your continual misinterpretation of people’s posts. Attention to detail….
ParticipantTrue true docteur!
ParticipantShe did not say she was having trouble with her landlord. She said she was having a lease reviewed. Smart thinking in my opinion.
ParticipantThere we go… Nov ’05 he wrote it. Wonder who is squealing now?!
ParticipantAhhh… I love yoga… Beautiful… I am definitely going to do some today. Thank you!
ParticipantYes, just quickly do the math – and you will see that people who make enough income to afford $2500 a month do not want to rent. They want to buy.
I think rents are increasing because mortgages have, and the owners need to try to get as close to their mortgage as possible. If you look closely, you see all kinds of variation in rental prices for homes of similar quality. Again – has to do with what the break-even (or at least get close to breaking even) point is for the owner.
Rents can only go as high as the local population is able/willing to pay.
ParticipantI think it is funny and right to the point. Just go for it. Never know where those wild ideas can lead you in life if you dont follow them.
I would visit your site!
ParticipantDocteur-
Your words wash over me in a lilting way – like yoga music.
Lovely….
Participant2001 was when I started thinking prices were ridiculous and left CA for NY.
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