Housing in California is years away from a bottom. Let me make that clear and if you have any doubts, after reading this essay you will have a better understanding as to how I arrived at that conclusion. This article is longer since it will try to answer many of the arguments from [...] Related Posts: ■ California Budget Details: How the Recession Will Affect Revenues for the State. ■ Riding in the Short Bus of Housing: Southern California Short Sale Numbers. 1 in 10 Homes is a Distress Sale. ■ San Diego Down 4.5 percent YOY - or $42,000 from Peak. ■ A Lost Decade of Housing Equity: Los Angeles and Orange County will hit a Housing Price Bottom in May 2011 seeing May 2003 Prices. ■ Redefining Success: One Year of Inventory and 27 Percent Annual Drop for Southern California. Is This the Elusive Bottom?

Before you ring the bell and signal the end of the California housing bubble, there are cities and properties that still defy the laws of economics.  California has corrected hard.  The velocity of the one year correction is unlike anything we have ever seen in the history of our housing market.  Seeing prices drop by [...] Related Posts: ■ Real Homes of Genius: Today we Salute you Santa Ana. 498 Square Feet for $440,000, What a Deal! ■ Real Homes of Genius: Today we Salute you Pacoima. Zillow says $457,000 but Listed at $225,000? ■ Real Homes of Genius: Today We Salute you Huntington Park. Tweedledum and Tweedledee of housing. $500,000 Homes in Wonderland. ■ Real Homes of Genius: Today we Salute you Stanton. ■ Real Homes of Genius: $80,000 off in San Fernando for 865 Square Feet of Joy!

The California housing market is facing a major calamity. In April of 2007 California reached a peak median price of $597,640 only to see those gains erased in the following year. By June of 2008, the median price in California is hovering at $368,250, a drop of 38.38% with no signs of slowing [...] Related Posts: ■ How Many People Overpaid for Their Home in Los Angeles County? Trying to get a Raw Number of Households Underwater. ■ Predicting the Housing Future: Los Angeles and Orange Counties. Using the Case-Shiller Index to Find a Bottom. ■ Of Bubbles Past. Need a Map for Housing? Ask a Housing Perma-Bull and They’ll See the World Through Colored Glasses! ■ Southern California Housing Numbers Exposed: The Bottom Falls out of the Housing Market, Again. ■ Don’t Catch a Falling Guillotine: Housing Free Falling in Southern California. A Deep Look at the Numbers.

Trying to figure out the aggregate housing price decline of a state as large as California is no easy task. For a state with over 36,000,000 people getting a simple statistic on housing is challenging and requires the ability to look at multiple sources of data. During the height of the housing bubble [...] Related Posts: ■ Foreclosures jump statewide by 40% in California in just one quarter! Welcome to California’s Gold! ■ Even the Harlem Globe Trotters Couldn’t Spin Today’s Housing News! ■ Real Homes of Genius: Today we Salute you Huntington Park. Sold 3 Times in 4 Years. ■ Housing Bloggers Unite: The Housing Blogger Network (HBN) has Started. ■ Think Housing Can’t Go Down Significantly in Southern California?

Did you hear that? Probably not because that was the sound of Treasury Secretary Hank Paulson’s bazooka shooting out a dud. The market on Monday simply reaffirmed what we all know at our core; housing is still a long way from any bottom and even though the Senate signed off on the housing [...] Related Posts: ■ Real Homes of Genius: Today We Salute you Huntington Park. Tweedledum and Tweedledee of housing. $500,000 Homes in Wonderland. ■ Real Homes of Genius: Today we Salute you Stanton. ■ Real Homes of Genius: Today we Salute you Santa Ana. 498 Square Feet for $440,000, What a Deal! ■ Real Homes of Genius: Today we Salute you Pacoima. Zillow says $457,000 but Listed at $225,000? ■ Real Homes of Genius: Today we Salute you Buena Park. $511,000 for 864 Square Feet. Even Knott’s Berry Farm is Cheaper!

/* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} You really have to tip your hat to our politicians.  The House approved the biggest bailout in the history of this country although they are trying [...] Related Posts: ■ Housing Bloggers Unite: The Housing Blogger Network (HBN) has Started. ■ Ode to the Housing Market: Learning to Love the Housing Bubble. ■ Real Homes of Genius: Half-Off Sale in Lynwood California and the Distance Theory of Investing. ■ Stage Two of the Mortgage Collapse: $500 Billion in Pay Option ARMs Meet the Piper in 2008 with 60 Percent Being in California. ■ Foreclosed: Predicting Foreclosures in California. How Many Homes will Be Foreclosed in 2008?

Unless you’ve been living under a rock and given how bad the housing market is, this may be a reality, the big news making the rounds this week is the housing bailout plan otherwise know as the Housing and Economic Recovery Act of 2008. We can talk about the B-list theatrics with Mozilo shedding [...] Related Posts: ■ Two 400+ Point Days in Two-Weeks: Why this is Horrible News for Housing. Volcker and Protecting your Mac. ■ Real Homes of Genius: Two For One in Compton. Southern California Housing Bubble Hangover. ■ Real Homes of Genius: 675 square foot home in Lynwood California at $425,000?! ■ Housing Contradiction: Home Prices Down = Sales Up. Any Questions? ■ Ross Perot Charts: How I Learned to be a Housing Blogger from Ross Perot.

With housing, there are only two positions in which someone can be. You own or you rent. That is it. The fascinating market dynamics are making people ask whether this is the bottom and should they jump into the market to buy. From the beginning, this question should not be approached [...] Related Posts: ■ Real Homes of Genius: Culver City Pricing Dysfunction! Prices all Over the 405. ■ Real Homes of Genius: Today we Salute Inglewood. Bought in 1970 for $20,000 now selling for $397,400. ■ Real Homes of Genius: Today we Salute Culver City. Flipping Homes in Today’s California Housing Market. ■ Housing Rehab: 2 Step Program - Real Homes of Genius: Today we Salute you Burbank. $626,000 Short Sale. ■ The Rent vs. Buying Dilemma: Mortgages the Southern California Way. 3 Factors to look at: Increase Rental Prices, Housing Price Declines, and Tighter Credit Markets.

I’ve been digging through the 44 page State of the Nation’s Housing report put out by the Joint Center for Housing Studies at Harvard University. The report is chock full of excellent data yet once again they miss on a few of their forecasts. I’ll get to the data in the current [...] Related Posts: ■ How I learned to Love SoCal and Forget the Bubble! ■ Sins of Years Ago Come to Haunt the Housing Market: Foreclosure is a Slow Process in California. ■ Realtor Mantra: Buy Today, buy Tomorrow, buy Yesterday! ■ Tell me the Sales Data: You Can’t Handle the Sales Data! ■ California Examined: The Deep Budget Impact of the Mortgage Crises.

Predicting future prices is a dangerous game. Trying to predict peak prices during a mania is like predicting the future behavior of an insane person. By definition their nature is not predictable and thus trying to determine what they’ll do tomorrow may be a fruitless exercise. Yet now that we are slowly [...] Related Posts: ■ How Many People Overpaid for Their Home in Los Angeles County? Trying to get a Raw Number of Households Underwater. ■ Housing Contradiction: Home Prices Down = Sales Up. Any Questions? ■ There will be Housing: How we’ve Returned to Selective Market Ignorance. ■ The Abyss is Deep: The Housing Abyss is Deep: 4 Major Reasons Why Housing in Southern California is Nowhere Near a Bottom. ■ The Quest for Accurate Housing Prices: Three Counties and Multiple Prices.