California Housing Disaster — Home Prices Down 26% Statewide, Falling $3000 A Week. Prices Off 31% In Sacramento And 39% In Santa Barbara
UK House Prices Face First Annual Fall Since Mid-90s
Japanese Data Shows Worsening Consumer Spending Environment
Japan’s Jobless Rate Rises; Inflation At Decade High
Japan’s February Data Reflects Weak Economy
Harsh Economy Pounds Lennar
Lots Of Uncertainty Developing In The Market For New Homes
Home Prices Fall 11.4% In January: A Chance To Hit Bottom?
U.S. Home Prices Fell 10.7% In January
The Expected Economic Impact Of An Energy Downturn
Sales, Prices Fall In Local Housing Market
New Home Sales: Lowest Reading Since 1995
Home Prices Still Spiraling Down
Capital Gain? Forget It - For Quite A While
California Freefall: Home Prices Down 26% In February
Bay Area Home Prices Drop A Record 13.2%
U.S. House Prices Post Record Decline
U.S. Home Prices Brace For Dismal Spring
Sales, Prices Fall In Local Housing Market
Housing-Market Difficulties Continue In Polk, Across State
Home Prices Have Fallen 15%
Weak Sales, Write-Downs Send Homebuilder Lennar To Q1 Loss
***Who is worse, the seller seeking $700K for a 3 bedroom piece of junk in California or the buyer? The Real Estate Agent got his or hers off the top so they love all this corrupt inflation. But how many buyers have $700K cash to buy a piece of junk in the land of plenty? Virtually no one. Therefore this housing inflation was caused by greedy mortgage companies providing the money for these corrupt transactions to happen. Come to Georgia and see some of the fabulous homes on several acres of land you can buy for about $500K. You could live here in a virtual palace and fly to the cesspool once a week and be better off. California has also benefited from fixed interest rates over the country but “free market” on prices. But those prices would be meaningless unless someone put up the capital to make these outrageous inflated transactions happen. Government loved it all too, didn’t they, since they received all that tax money from these inflated, corrupt values that have nothing to do with reality. Some of these homes were likely even on an earthquake fault. HGTV has widely disseminated to the whole country images of California homeowners, seemingly ordinary people like the rest of us with presumably ordinary incomes, discussing the shocking prices they “paid” (apparently, “borrowed”) for their homes and what they hoped to get at resale. These programs at first baffled us–howcome these people were given a $700k mortgage? How did they qualify for that?–then offended us, as it became clear they were being handed something free through trickery, and now apparently make some of us gleeful as we see the unfairness being punished by the marketplace. HGTV, which tries to be entertainment more than education, will never pass along value judgements about the wisdom of the pricing of its markets and subjects, but homeowners across the whole country have come to see California homeowners as the cause or a least symbol of the crisis that’s hurting the rest of us***
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haecus
