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woodrow
ParticipantJust checked the “market overview” on SDLookup for this zip (91915). It lists 370 total properties for sale, with 84 foreclosures and 36 short sales. That suggests that 120 of the 370 listings are being sold under distress.
Is there any way that this doesn’t spell disaster? Won’t this rob virtually every home in that zipcode of 20-30% of their equity?
ParticipantKelly – nice piece as always. You’re doing fantastic work over at VOSD exposing the overheated RE market for what it is: a house of cards. I think we’re going to find out that there is a tremendous amount of fraud that has helped the artificial inflation in home prices over the next couple years, and I’m sure you’ll be on the leading edge of those stories in the future as well.
Keep up the great work!
ParticipantKelly – nice piece as always. You’re doing fantastic work over at VOSD exposing the overheated RE market for what it is: a house of cards. I think we’re going to find out that there is a tremendous amount of fraud that has helped the artificial inflation in home prices over the next couple years, and I’m sure you’ll be on the leading edge of those stories in the future as well.
Keep up the great work!
ParticipantKelly – nice piece as always. You’re doing fantastic work over at VOSD exposing the overheated RE market for what it is: a house of cards. I think we’re going to find out that there is a tremendous amount of fraud that has helped the artificial inflation in home prices over the next couple years, and I’m sure you’ll be on the leading edge of those stories in the future as well.
Keep up the great work!
ParticipantChris – I’d love to get the link to your blog also – you’ve been one of the better posters on this board for a couple years now.
ParticipantChris – I’d love to get the link to your blog also – you’ve been one of the better posters on this board for a couple years now.
ParticipantChris – I’d love to get the link to your blog also – you’ve been one of the better posters on this board for a couple years now.
ParticipantPublic sentiment has only recently changed – it takes awhile for significant drops in the reported numbers. We still haven’t begun to feel the sting from subprime going away, and foreclosures are continuing to accelerate.
I think we’ve seen ~ 10-15% drops across the board already (obviously some neighborhoods have been hurt worse than others) but the next year to 18 months is when we’ll see bigger drops.
Patience.
ParticipantI had a couple of minor spats with “lakesideseller” (thanks for the backstory, sdrealtor) when she began posting very shallow analysis which made it obvious for anyone with an economics background to understand that she had absolutely no economic training/experience. She misused terms and concepts and refused to listen when it was pointed out to her.
She railed against people who thought they were geniuses for buying a home and riding the equity wave up, but then fell into the same trap by considering herself some kind of investment guru because she sold before the crash.
I wonder how long she’ll keep her website alive? It’s obvious that it’s a waste of time and money – her motivation has to be waning. I give it mid-summer, tops.
Participantsounds just like powayseller to me.
Participantglass houses… "Analyses" is the plural of analysis.
Well aware of that – her sentence indicates analysis was the term she was looking for, not analyses.
ParticipantFor good housing market analyses, go to my website.
Hey Professor Berkland – do you know what "spell check" is?
Why would ANYONE pay for analysis from someone who can't even spell analysis?
Poweyseller = amateur hour.
ParticipantExcellent work PowaySeller. Thumbs up!
ParticipantYou’re “not sure”? It ain’t happening.
And I’m not insulting you, just asking that you not spam the “other bloggers” section.
GL with your website – I personally think you have a lot to offer but wish your analysis and insights were free.
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