onslipperyslope

California Home Sales: 43% Year Over Year Increase!

You sound more like a fool who fell from the 13th floor. When passing down by 10th floor, he said to himself, "So far so good".

Moral of this story is that there are better exercises than jumping to conclusions and riding on guesses.

Just check patrick.net, there is whole wave of alt-a and low/no doc (meaning liar loans), and now prime is performing worse than sub-prime as people are getting stuck with -ve acquity.

What we have seen is only tip of the ice-berg. I suspect, home prices have atleast 20-30% to drop yet.

Some Real Talk on Housing

I meant that RE values peeked at 2006, thus the starting point for free all.

Some Real Talk on Housing

Mr. Ben living in an illusional world remindes me a guy who fell from the 13th floor. When he passed the 10th floor, he said to himself, "so far so good".

Objectively speaking, I believe Mr. Nicelthrower puts forward a very realistic scenario.

With 20% required down payment (I wonder how many american have more than next month's rent in their account) and costing $1,000+ in gas etc to commute to jobs. those McMansions look more like a white elephants.

Without cheap credit and those no down loans, we don't have a population to afford those giants.

Why do we need a 3,500 house anyways? What we need a drastic change in our lifestyle? and forgo 3,000+ sq feet homes and 5,000 sq ft SUV, and live like rest of the world.

There is a silver lining in this thing. Just consider how much mother earth would appreciate using her resources more wisely.

And you know what? your grand children will appreciate also for leaving them few drops of oil, some trees & fishes and livable enrionment.

I say, lets go with 10% value of 2006 peek.

Some Real Talk on Housing

And one morething:

My RE broker just called to tell me that I must make an offer by tonight on this 2bd 500 sq ft. home for only million doallrs, beacuse there are 10 other buyers compteting for the house.

According to the broker, this is the BEST time to buy, as prices will double by next month.

I told him that I will try to expedite the closing of sale the brooklyn bridge since I need 20% down payment now.

Truly, I know Mr. Yun of NAR gets paid for being a spin master. But listening to some of his recent comments, I wonder if he has trouble sleeping at night, or lie a psycho path, have lost his consicous.

Anyone thing of bying a home before 2011 should get their head examine and finance a stay at the mental ward via escrow.

Some Real Talk on Housing

Good to see the home prices come down to earth, right now they more like on the 13th floor, meaning long way to go down, which is great, as it would give us some time to save and purchase one.