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?

I was digging through the nationwide distressed property information put out for April of 2008. In this data, we have notice of defaults, notice of foreclosure sale, lis pendens, and REOs. This data gives us a snapshot of where we are but also allows us to see where we are heading. For [...] Related Posts: ■ Foreclosure Shrugged: The Issue with Finding an Exact Foreclosure Number. ■ Foreclosed: Predicting Foreclosures in California. How Many Homes will Be Foreclosed in 2008? ■ Foreclosures? Housing Bubble? In Southern California? Impossible! ■ Real Homes of Genius: Today we Salute you Cypress. Wait 5 Months, Then Drop Price by $130,000. ■ Zillowed, Disappearing Inventory, and Free Housing: 3 Major Psychological Reasons Why Housing is Still Declining and Living Rent and Mortgage Free.

The real health of a nation is derived from a citizenry that is employed adequately. The debate over what “adequate” constitutes can be debated but it is sufficient to say that the way current national data is gathered for employment is simply inadequate. People are undercounted. Even with the report that was [...] Related Posts: ■ California Budget Details: How the Recession Will Affect Revenues for the State. ■ Housing in Graphics and California $16 Billion in the Hole: The Genesis of the California Housing Market. ■ The Short End of the Stick: Examining Short Sales in Southern California ■ The Abyss is Deep: The Housing Abyss is Deep: 4 Major Reasons Why Housing in Southern California is Nowhere Near a Bottom. ■ Southern California Housing Still Not Finding a Bottom: Worst Decline Ever, no Exaggeration. Examining the Numbers in Great Detail.

The bigger they are, the harder they fall. That mantra is now being witnessed first hand by many prime areas of Los Angeles County. Luxury properties have a very specific and niche based market. They cater to a very unique audience that usually resides outside the confines of the average [...] Related Posts: ■ Real Homes of Genius: Today we Salute you Beverly Hills. When the 90210 Simply Isn’t Enough. ■ How Many People Overpaid for Their Home in Los Angeles County? Trying to get a Raw Number of Households Underwater. ■ Foreclosures jump statewide by 40% in California in just one quarter! Welcome to California’s Gold! ■ This Housing Mess is Getting Ugly and Your Face Shows it. Unintended Consequences of Lost Home Equity. ■ Real County of Genius: Los Angeles County Reaches Another Record: $540,000 Median Price. 3 Reasons why this Number is a Fabrication.

Making predictions is a tricky business. Just ask any political pundit or economist how easy it is to forecast the future. Yet we have enough current data from multiple sources to give us a solid idea that foreclosures, the ultimate finality to housing distress will continue to be a problem for the upcoming [...] Related Posts: ■ Don’t Catch a Falling Guillotine: Housing Free Falling in Southern California. A Deep Look at the Numbers. ■ Real Homes of Genius: Today We Salute you Artesia. 626 Square Feet of Barbie Love for $360,000. ■ Captain Credit Crunch: Homes Sales, GSE Love, and Neverland. ■ The Abyss is Deep: The Housing Abyss is Deep: 4 Major Reasons Why Housing in Southern California is Nowhere Near a Bottom. ■ Blame it on the Ritz: Market Psychology. Blame the Downturn on Homebuilders and Banks.

You know someone loves you when you post a $3.6 billion quarterly loss and you end the day up 1 percent. We are talking about the mortgage giant Fannie Mae. Incredibly, the action on the stock today was breathtaking. At a point, it was up 10+ percent on the OFHEO announcement of [...] Related Posts: ■ The Short Sale Report: Volume 1 – The True Barometer of the Housing Market ■ Real Homes of Genius: Two For One in Compton. Southern California Housing Bubble Hangover. ■ Real Homes of Genius Flashback: Looking back at Lakewood California. $105,000 Loss. ■ 2007 Year in Review: Subprime Explodes, Prices go Negative, and Captain Credit Crunch Enters the Sea of Housing. ■ Real Homes of Genius: Today we Salute Culver City. Flipping Homes in Today’s California Housing Market.

Now that was an interesting start to the week. Can you believe that we are only 3 weeks into the year? Anyone that can tell you they predicted this playing out exactly this way is flat out lying to you or should be given some sort of award for forecasting. As many [...] Related Posts: ■ Big Ben and the Ministry of the Fed: Housing Doublespeak. NovaStar Shining. ■ C.A.R. says 2007 will see a -2% Drop in California. Does This Feel like a 2% Yearly Drop? ■ The History of the Los Angeles County Housing Bubble (2000 – 2007). Proudly a County of a Renting Majority. ■ The Short End of the Stick: Examining Short Sales in Southern California ■ When will my home cost me an ARM and a leg?

Oh that Ben Bernanke, aka Boom Boom, aka Helicopter Ben, aka Big Baller, aka credit liquidity magician. After talking to the market with a stern voice and demonstrating that he does have some restraint with rate cuts, he follows the next day by opening up a corner loan shark store. While they don’t [...]

Most will agree that as a society, we cannot spend our way into prosperity. In fact, many even the most ardent bulls will acknowledge that we have some serious issues to address in our current economy. From preliminary reports, this rate freeze will have a very minimal impact on the overall housing market. [...]

I’ve been digging deeper into the current Bush plan and if this doesn’t smack of political posturing with no meat, I really don’t know what does. Let us refresh your memories of what Mr. Bush said in August of this year: WASHINGTON — President Bush said Thursday concern should be shown to those who’ve lost [...]