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?

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.

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.

Los Angeles County has witnessed every facet of the housing bubble. From historically lower priced areas such as Compton having homes sell at $500,000 to higher priced areas like Beverly Hills seeing homes sell in the multi-millions. We also were at the vanguard of interest only, option ARM, and other exotic mortgages [...] Related Posts: ■ Living Large on $25,000 a Year in Southern California. ■ Double Bubble: California Compared to the United States. Vacancy Rates up Homeownership Down. ■ Southern California Housing Numbers Exposed: The Bottom Falls out of the Housing Market, Again. ■ The Genesis of the Credit Bubble: Advertising, Deception, and $163 Billion in Subprime California Loans Resetting in 1 Year. ■ Are you a Debt Slave?

Once again the ministry of truth tells us that inflation is tame so long as you don’t eat or drive which makes for a fascinating Wall Street spectacle. At this point, it has become an utter joke trying to rely on the BLS data for inflation numbers. Practically speaking they are making it [...] Related Posts: ■ Real Homes of Genius: Today we Salute you Compton with a Short Sale at $375,999. New! Short Sale Search Option. ■ Real Homes of Genius: Today we Salute you Compton. $321,000 for 594 Square Feet! Can You Really Get Two Bedrooms Into That Space? ■ Real Homes of Genius: Today we Salute you Compton. $294,900 for Your Very own Prison. ■ 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 Compton. 3 Bedrooms on 806 Square Feet!

Orange County, an area with over 3,098,121 people sometimes has a reputation at least nationwide as being an exclusively prime area. What most people that don’t live or work here realize is that the media perception of the “OC” is guided by a few prime cities such as Laguna Hills and Newport Beach. [...] 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: Lifetime Achievement Award. Nearly 80 Percent Loss in Oakland California. ■ Home Sales: Worst Drop in 18 Years. Enjoy your Day! ■ C.A.R. says 2007 will see a -2% Drop in California. Does This Feel like a 2% Yearly Drop? ■ Real Homes of Genius: Today we Salute you Maywood. 853 Square feet for $385,000.

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.

If anyone was expecting a spring bounce from the housing Easter Bunny they’ll need to wait for another year. Frankly, all this hyperbole of reaching a bottom is wishful thinking and is completely devoid of the economic realities surrounding us. But what can you expect from an industry that kept chanting a mantra [...] Related Posts: ■ Southern California Housing Numbers Exposed: The Bottom Falls out of the Housing Market, Again. ■ Real Homes of Genius: Two For One in Compton. Southern California Housing Bubble Hangover. ■ Top 55 Housing Resource Blogs: Gaining a Solid Foundation in Housing and Finance Information. ■ The Abyss is Deep: The Housing Abyss is Deep: 4 Major Reasons Why Housing in Southern California is Nowhere Near a Bottom. ■ C.A.R. says 2007 will see a -2% Drop in California. Does This Feel like a 2% Yearly Drop?

Even though things appear to be deteriorating rapidly and are shocking the public and officials, this castle made of mortgage sand was built over a decade of frankly irresponsible greed and corruption. There really is no way of sugar coating it. In the middle of it all, there was ethical behavior and those [...] Related Posts: ■ Foreclosures? Housing Bubble? In Southern California? Impossible! ■ Foreclosure Shrugged: The Issue with Finding an Exact Foreclosure Number. ■ The Foreclosure Story: What does the Process Look Like? ■ Real Homes of Genius Flashback: Looking back at Lakewood California. $105,000 Loss. ■ Superstars of Housing Love: The Sheriff Deputy Evicting People who Default.

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.