Real Estate Broker

Foreclosures Still On the Rise in California

Ahhhh....Round and Round we go...

I agree with Mr. "Believe or not.'" He's obviously speaking from a fundamental perspective.

The problem is not with what he has already said. Rather, the problem lies (as it always does) with people's unwillingness to accept the truth.

Homes will continue to adjust downward, until they converge to the the 5% per annum norm that has defined California Real Estate for 50+ years. In fact, they may even dip lower first. This depreciation or devaluation has little do with foreclosures and the like. It's simply an economic reality.

Everyone on this blog should just admit that they got caught up in the hype of the "ScAmerican Dream," overleveraged to buy non-performing, overinflated, liabilities dressed up as assets.
In other words, we all fell victim to the middle class trap, and the Snake Oil salesman with the GED. I'm referring to Realtwhores that took a 3-week internet course, bubbled in their Scantrons, and were somehow deemed "licensees" by the Deparment of Real Estate.

I did it too, admitted defeat, short sold my home, and got my a** handed to me. But I didn't continue to live in some non-analytcal, opinionated, fairy tale, where prince Charming (Ben Bernanke) bails me out and the PERCIEVED value of my home goes up. Or rather, the value of the banks home, that I rented, and assumed all the liability for... For the lay person, my reference is the American perception of ownership.

I dare you to show me how ignorant you are...