[XBoxBoy]

Now this is an interesting twist…

http://www.signonsandiego.com/news/business/20080115-1229-bn15homes.html

After an earlier article today with the headline “Median Home Prices Plummet in County.” Do you think the UT heard from some of their realtor advertisers? Hmmmm… Maybe, since now they’ve posted an article with the headline, “Number of SoCal home sales edge up slightly.” Based on the fact that December sales are better than November sales. (Though they are every year) And despite the fact that December 2007 sales are down a whopping 45% from December 2006. These clowns are just too much!

[XBoxBoy]

Now this is an interesting twist…

http://www.signonsandiego.com/news/business/20080115-1229-bn15homes.html

After an earlier article today with the headline “Median Home Prices Plummet in County.” Do you think the UT heard from some of their realtor advertisers? Hmmmm… Maybe, since now they’ve posted an article with the headline, “Number of SoCal home sales edge up slightly.” Based on the fact that December sales are better than November sales. (Though they are every year) And despite the fact that December 2007 sales are down a whopping 45% from December 2006. These clowns are just too much!

[XBoxBoy]

Now this is an interesting twist…

http://www.signonsandiego.com/news/business/20080115-1229-bn15homes.html

After an earlier article today with the headline “Median Home Prices Plummet in County.” Do you think the UT heard from some of their realtor advertisers? Hmmmm… Maybe, since now they’ve posted an article with the headline, “Number of SoCal home sales edge up slightly.” Based on the fact that December sales are better than November sales. (Though they are every year) And despite the fact that December 2007 sales are down a whopping 45% from December 2006. These clowns are just too much!

[XBoxBoy]

FLU,
I share your concerns and yes it does seem rather ominous to me too. I’d also point out that since CA is not a state in play in the upcoming election (Whoever is the Dem Candidate will take all the electoral votes) there is little incentive for politicians to steer any federal government “stimulus” our way. Just another minor issues to put in the “Things look bad Column”

[XBoxBoy]

FLU,
I share your concerns and yes it does seem rather ominous to me too. I’d also point out that since CA is not a state in play in the upcoming election (Whoever is the Dem Candidate will take all the electoral votes) there is little incentive for politicians to steer any federal government “stimulus” our way. Just another minor issues to put in the “Things look bad Column”

[XBoxBoy]

FLU,
I share your concerns and yes it does seem rather ominous to me too. I’d also point out that since CA is not a state in play in the upcoming election (Whoever is the Dem Candidate will take all the electoral votes) there is little incentive for politicians to steer any federal government “stimulus” our way. Just another minor issues to put in the “Things look bad Column”

[XBoxBoy]

FLU,
I share your concerns and yes it does seem rather ominous to me too. I’d also point out that since CA is not a state in play in the upcoming election (Whoever is the Dem Candidate will take all the electoral votes) there is little incentive for politicians to steer any federal government “stimulus” our way. Just another minor issues to put in the “Things look bad Column”

[XBoxBoy]

FLU,
I share your concerns and yes it does seem rather ominous to me too. I’d also point out that since CA is not a state in play in the upcoming election (Whoever is the Dem Candidate will take all the electoral votes) there is little incentive for politicians to steer any federal government “stimulus” our way. Just another minor issues to put in the “Things look bad Column”

[XBoxBoy]

DWCap, you’re right that you can interpret things to mean that the rate of decline must slow, instead of the bottom must come sooner. However, given all the issues, (still plenty of foreclosures in the works, many which haven’t hit the market, looming crisis with option arms, probably recession coming, etc) I don’t see any reason for the rate of decline to slow.

Can you give some solid reasons for the rate to slow? I’m certainly open-minded about this. The only reason I get from people about why it will be 2011 before the bottom is that in the last downturn it took that long. Fine, I can accept that, but it’s not a given that this time will be the same.

The only thing I think that could slow the rate of decline is if we get a good bit of knife catching in the next couple of months. However, with all the fear that is starting to spread, I’m suspicious that there will be more foreclosures coming onto the market than knife catchers, so that won’t slow things at all.

Just my two cents though.
XBox

[XBoxBoy]

DWCap, you’re right that you can interpret things to mean that the rate of decline must slow, instead of the bottom must come sooner. However, given all the issues, (still plenty of foreclosures in the works, many which haven’t hit the market, looming crisis with option arms, probably recession coming, etc) I don’t see any reason for the rate of decline to slow.

Can you give some solid reasons for the rate to slow? I’m certainly open-minded about this. The only reason I get from people about why it will be 2011 before the bottom is that in the last downturn it took that long. Fine, I can accept that, but it’s not a given that this time will be the same.

The only thing I think that could slow the rate of decline is if we get a good bit of knife catching in the next couple of months. However, with all the fear that is starting to spread, I’m suspicious that there will be more foreclosures coming onto the market than knife catchers, so that won’t slow things at all.

Just my two cents though.
XBox

[XBoxBoy]

DWCap, you’re right that you can interpret things to mean that the rate of decline must slow, instead of the bottom must come sooner. However, given all the issues, (still plenty of foreclosures in the works, many which haven’t hit the market, looming crisis with option arms, probably recession coming, etc) I don’t see any reason for the rate of decline to slow.

Can you give some solid reasons for the rate to slow? I’m certainly open-minded about this. The only reason I get from people about why it will be 2011 before the bottom is that in the last downturn it took that long. Fine, I can accept that, but it’s not a given that this time will be the same.

The only thing I think that could slow the rate of decline is if we get a good bit of knife catching in the next couple of months. However, with all the fear that is starting to spread, I’m suspicious that there will be more foreclosures coming onto the market than knife catchers, so that won’t slow things at all.

Just my two cents though.
XBox

[XBoxBoy]

DWCap, you’re right that you can interpret things to mean that the rate of decline must slow, instead of the bottom must come sooner. However, given all the issues, (still plenty of foreclosures in the works, many which haven’t hit the market, looming crisis with option arms, probably recession coming, etc) I don’t see any reason for the rate of decline to slow.

Can you give some solid reasons for the rate to slow? I’m certainly open-minded about this. The only reason I get from people about why it will be 2011 before the bottom is that in the last downturn it took that long. Fine, I can accept that, but it’s not a given that this time will be the same.

The only thing I think that could slow the rate of decline is if we get a good bit of knife catching in the next couple of months. However, with all the fear that is starting to spread, I’m suspicious that there will be more foreclosures coming onto the market than knife catchers, so that won’t slow things at all.

Just my two cents though.
XBox

[XBoxBoy]

DWCap, you’re right that you can interpret things to mean that the rate of decline must slow, instead of the bottom must come sooner. However, given all the issues, (still plenty of foreclosures in the works, many which haven’t hit the market, looming crisis with option arms, probably recession coming, etc) I don’t see any reason for the rate of decline to slow.

Can you give some solid reasons for the rate to slow? I’m certainly open-minded about this. The only reason I get from people about why it will be 2011 before the bottom is that in the last downturn it took that long. Fine, I can accept that, but it’s not a given that this time will be the same.

The only thing I think that could slow the rate of decline is if we get a good bit of knife catching in the next couple of months. However, with all the fear that is starting to spread, I’m suspicious that there will be more foreclosures coming onto the market than knife catchers, so that won’t slow things at all.

Just my two cents though.
XBox

[XBoxBoy]

> At this rate of decline, sometime in 2010 house
> prices will hit zero.

Actually if that’s correct, and we assume that houses will not go to zero, then you make a strong argument that the bottom will be sooner than 2010. Very good news IMHO.

[XBoxBoy]

> At this rate of decline, sometime in 2010 house
> prices will hit zero.

Actually if that’s correct, and we assume that houses will not go to zero, then you make a strong argument that the bottom will be sooner than 2010. Very good news IMHO.

[Author]

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