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I agree in the long term the stability of home ownership cannot be beat. But one of your comments threw me...how is "a comparable mortgage payment getting closer to rent cost"??? It seems like it is getting further away. I know in the San Fernando Valley, a short distance away, the Wells...

Since last year interest rates are up quite a bit, thus increased payments. If your cousin paid all the $$$, he would be committed for a much bigger monthly payment than people that bought last year. In O.C. where sales volume is down like 30-40%, and prices action is showing like 40%+ of...

“Centex Corp., the fourth-largest U.S. home builder, on Monday said its net profit fell 31 percent and orders were off 21 percent, prompting the company to slash its forecast in another sign of the eroding U.S. housing market. ‘Centex is another confirming data point that the trends...

http://www.iht.com/articles/2006/07/23/bloomberg/bxhome.php “Bonds of U.S. home builders, profitable through April, have turned into the biggest losers this year in the market for debt with ratings below-investment grade. Debt sold by D.R. Horton, KB Home and other construction companies...

Agreed about the interest rates, but one thing that is shocking is that most people did not lock (and still are not) in these historically low rates. In many bubble areas people got ARMS or even neg am option ARMs instead. That way they could leaverage even more house. In CA these loans were...

Your make some good points, but I am still having a problem getting past the multi year 20% run ups in price, while incomes are up about 3% (maybe). This fundamentally is based on??? I believe the excess is speculative, could it be anything else? Hard to make comparisons between cities (ie...

It's never over till it's over, but something is brewing in Va. Sales down 30%, inventory chart is parabolic (link) http://askmerv.choice3realty.com/cat_loudoun_inventory.html

ATM - Add to the problems, all of those home owners that used their homes like ATM machines to buy cars, boats, skiddos and vacations. The counted on ever increasing home prices and low interest rates to keep them afloat. What do they do now? Put their homes on the market in hopes of cashing in...

Thursday, July 20, 2006 Ghost Housing Market Following is an update from Mike Morgan at Morgan Florida. Mike Morgan: We recently had two more of Wall Street’s finest out on a tour of Florida real estate markets. After the first day, these guys needed diapers. They’ve been...

the "soft landing" continues....lol DOW JONES NEWSWIRES July 20, 2006 12:37 p.m. By Janet Morrissey Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)–D.R. Horton Inc. (DHI) Chief Executive Don Tomnitz predicts the housing sector will continue to struggle with high inventories and...

Agreed Camarillo is cooler, up to 10 degrees in the summer. That would be welcome, but more inland areas in all of So. Cal are hot in the summer. Simi, like most places, is a trade off. My wife works in W.L.A. and I work in Pasadena. Camarillo would just about be impossible to commute like we...

I live in city number 35 (Simi Valley, Ca). Extremely low crime, good weather, nice people, a little boring but one of the safest cities in America according to the FBI list. Took a a$$ pounding in the last downturn (1990-96), and also in the downturn before that (1979-83). Inventory right now...

This article goes to show...morons have good company. If they couldn’t afford 30-year fixed at 5%, how on Earth are they going to afford it at 7 or 7.5%? It has continually amazed me how people of ordinary means toss out numbers like $500,000 and $600,000 as if it’s not a lot of money to pay...

http://www.voiceofsandiego.org/articles/2006/07/15/housing/976condodrop.txt “Chris Thornberg, at the University of California, Los Angeles, said the housing market is in uncharted territory. Thornberg attributes the ‘everything’s fine’ response from the realty industry to the ‘bunker...

DR Horton Market Cap: 7/20/05 (1 year ago) $13.4 Billion 7/14/06 (today) $6.48 Billion

WSJ.com/marketbeat. 9:17 a.m.: Amid the steady drum beat of bad news from home builders, D.R. Horton’s report Thursday night that it was sharply slashing its earnings guidance for 2006 is especially worrisome to the battered sector. The Fort Worth, Texas, homebuilder has long been the...

DHI just puked up again...slashed earnings.....AGAIN! The homies may be in for an a$$ pounding tomorrow...OWP NEW YORK, July 13 (Reuters) - D.R. Horton Inc. (DHI.N: Quote, Profile, Research), the largest U.S. home builder, said on Thursday that orders for new homes fell 4.4 percent in its...

About a year ago in this thread I posted this news story....turned out in the last year Ken Heebner pretty much nailed it. The home builders stocks since his call are down around 50% and still tanking. This guy has a fantastic track record, and controls billions. And now there is more news...

I Want My Bubble Back! By Seth Jayson The Motley Fool The housing spin There’s nothing funnier or more satisfying (for me, at least) than watching the National Association of Realtors (NAR) change its tune these days. The latest news release from this sunny-Jim industry group finally...

Fed Steals Punchbowl, Party Ends, Hangover Starts: Mark Gilbert June 20 (Bloomberg) The Federal Reserve has taken away the punchbowl it spent two years pouring absinthe into. The party is over, and the guests are staggering off to endure skull-cracking hangovers. So far, so predictable...