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.

Try for a second to flash back to 1992. What were you doing back then? Like many during this time, you may have been feeling some of the pinch from the 1990-91 recession. Even though recessions may have exact dates, their impact is powerful years before and after the official dates. [...] Related Posts: ■ New Century Financial Now Has A Market Cap of $92 Million and Owes $8 Billion. Now That is Leverage Baby! ■ I Am Facing Foreclosure: Response to Casey ■ Two Faces of Housing Panic: Schadenfreude and the Lender of Last Resort. ■ Housing Bloggers Unite: The Housing Blogger Network (HBN) has Started. ■ About

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.

I think the best way to discuss the “reemergence” of the credit crisis is to remember a childhood story. Remember that time your family was throwing a party and you were concerned about crazy grandma going off on her usual rants? You thought carefully about what you were going to do since you [...] Related Posts: ■ Two Faces of Housing Panic: Schadenfreude and the Lender of Last Resort. ■ The Sham of our Current Unemployment Rate Numbers: Lessons from the Great Depression: Part X. Data Mining. ■ Manias, Panics, and Crashes: 2007 First Quarter All-Stars – Foreclosures, Subprime, and Politics. Five Characteristics of a Housing Bubble. ■ A Bubble That Broke the World: Lessons from the Great Depression Part IX. When Credit is Debt. ■ Just Because you Crawl Today, Doesn’t Mean you Won’t Walk Away Tomorrow from a Home: The Next Chapter in the Foreclosure Crisis.

I’m about to reveal an extraordinary secret, one that rivals the coordinates for the lost city of Atlantis. As experts and government officials are now in their second year of scrambling for housing solutions it appears that we have found one that works. Here it goes; when you lower prices you actually move [...] Related Posts: ■ How Many People Overpaid for Their Home in Los Angeles County? Trying to get a Raw Number of Households Underwater. ■ About ■ Putting Home Sellers on the Couch: The Psychology of why Sellers Refuse to Lower Prices. ■ Consulting ■ Riding in the Short Bus of Housing: Southern California Short Sale Numbers. 1 in 10 Homes is a Distress Sale.

This weekend I’ve gotten many e-mails talking about the walking away “myth” and an onslaught of articles now addressing the issue. For those of you that read many of the economic and housing blogs, this is something you are already familiar with. In fact, there has been a sudden shift of trying [...] Related Posts: ■ New Century files for Chapter 11. ■ Real Homes of Genius: Today we Salute you Stanton. ■ Real Homes of Genius: Today We Salute you Artesia. 626 Square Feet of Barbie Love for $360,000. ■ Dr. Housing Bubble Examines Patients of the Housing Bubble. ■ Ponzi Financing – The House that Credit Built.

You know you do it. Deep down you know you feel a bit sneaky when you do it like going on a clandestine secret mission. I would venture to guess that you have Zillowed yourself or homes in your neighborhood. Welcome to the major equalizing force in the housing game, information. [...] Related Posts: ■ Living Large on $25,000 a Year in Southern California. ■ Real Homes of Genius: Today we Salute you Monterey Park. 800 Square Feet for $479,000. ■ Real Homes of Genius: Forget Buy 1 get 1 Free Deals. How About 3 for the Price of 1. Today we Salute you Riverside. ■ 5 Reasons Why The Housing Market Will Continue to Decline Until 2010: Extrapolating The Free Ride Bird and Dancing with the Housing Pied Piper. ■ The Short Sale Report: Volume 2 – Record 10,000+ Short Sales in Southern California.

There are moments in history that change the world profoundly. The fall of the Berlin Wall. The industrial revolution and the impact it made on our society. And finally, David Lereah, the former National Association of Realtors chief economist telling us that that things will get worse before they get better? [...] Related Posts: ■ Did you Feel That? Housing Just Hit the Third Rail. ■ Mission Accomplished: 3 Housing Issues: Multiple Bottoms, Declining Dollar, and More Sub-prime and Alt-A Defaults. ■ Even the Harlem Globe Trotters Couldn’t Spin Today’s Housing News! ■ Think Housing Can’t Go Down Significantly in Southern California? ■ California Budget Details: How the Recession Will Affect Revenues for the State.

Today the market tumbled again reflecting the underlying reality that earnings are much weaker than expected and this will have a long and deep impact on our economy. This isn’t going to be a minor downturn but potentially a severe one. The market wasn’t dragged down heavily even after all the craptastic data [...] Related Posts: ■ Dr. Housing Bubble Examines Patients of the Housing Bubble. ■ Real Homes of Genius: Today We Salute you Huntington Park. Tweedledum and Tweedledee of housing. $500,000 Homes in Wonderland. ■ When The FBI Gets Involved, You Know We Are in a Bubble! ■ Real Homes of Genius: $463,000 Price Reduction in Bell! I Just Saved Close to $500,000 by waiting 4 Months! ■ Real Homes of Genius: End of $1 Million Home in Pasadena and the Extinction of Mortgage Equity Withdrawals.

There seems to be a crescendo rising from the Southland that we are now nearing a market bottom in real estate. The argument goes a little something like this: prices have fallen significantly, inventory is still at peak levels, and rates are still historically low that the water is now warm for any [...] Related Posts: ■ Real Homes of Genius: Today we Salute you Glendale. When Prime is no Longer Prime and WaMu Dilution. ■ California Budget Details: How the Recession Will Affect Revenues for the State. ■ Don’t Catch a Falling Guillotine: Housing Free Falling in Southern California. A Deep Look at the Numbers. ■ Sexy Bottom: The Naked Truth of the 10 Percent Southern California Housing Drop. ■ California Examined: The Deep Budget Impact of the Mortgage Crises.