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Thanks for the PM. Please check my reply when you have the time. Regarding your comment: "I could see housing getting to 400K in corona, especially the larger places, lots." Anything with a large lot, etc. is already well over 300K, sometimes to 350K. Can 400K be far away?

I sent you another PM. When you have a chance please look it over. I agree with you. The Corona area will never be Orange County due to the reasons you listed. I guess the guy I talked to assumed that if average prices in Corona get to >$400,000 then average prices in Orange County will be...

I live in so cal (Corona) and was talking to a guy last night about the local real estate market. We were discussing how much longer the run up was going to last. I thought he would say 1-2 years at best but he made the prediction of eight more years. Prices, he told me, won't flatten out until...

Thanks for the pm. When you have time could you look over my response? Thanks. "A couple of things to look for are avg time a listing is on the market, total units available for sale". It sound like you are watching this very closely. Have you seen any weakness in your area?

I don't know if anyone read my earlier post but I live in so cal and had a house in escrow that I am presently trying to get my deposit back on. Since the house is in a fire hazard zone I was unable to get anyone to insure it and even if I can the cost would be prohibitive. Well now I am being...

VIX is now above 50 for the first time since 9/21/2001

"How about the people who haven't been talked into a balloon adjustable and haven't cashed out??? looking pretty good right about now @ 6.25" Exactly my point

If someone locks in a 30 year fixed rate loan at say 6.25% how can they no longer afford it if rates go up?

So what you are saying is the supply/demand argument doesn't work since once prices/interest rates get too high people won't be able to afford the home in the first place?

If there is a shortage of new homes being built why doesn't anyone believe this will continue to push prices higher? Isn't all supply vs demand?

I also get the computerized refinancing sales messages (as well as the satellite). I have noticed with the new housing developments out where I live that they first open a phase with say 1,800 to 2,300 square foot homes for around $230,000 just to see how the demand is. Now when those sell...

The salespeople at the home developments where I live around Corona are so arrogant they act like they are doing you a favor just to speak to you. Of course just about every new home development phase sells out as soon as they put them up for sale. Boy, I sure wouldn't mind seeing it turn around...

So do I :cool:

That PMI topped two months ago and this all with recent record home sales. Somebody must see something bad coming?

This index has lost almost 25% of its value over the past two weeks. This with even lower interest rates and near record mortgage applications. Does somebody know something?

The bottoms of 1987, 1989, 1997, 1998 and 2001 were all accompanied with VIX readings over 50.0. It is around 46 now. If it gets above 50 and reverses I would buy SPY for a medium term trade.

After the tech collapse of the last two years and the resulting job losses in northern cal. how are these prices able to sustain such a sharp advance? Where are the people getting the money if they dont have jobs or stock options that are worth anything?

I noticed the Dow Jones home construction index got slaughtered the last two weeks and is now actually down on the year. Do you think this was just part of the overall decline or is there more to it? I dont recall reading any bad news on home purchases as mortgage applications are still near...

From this weeks Plugged In column in Barron's "Not a day goes by without some Northern California company announcing another round of layoffs....Siebal Systems last week said it would slash its workforce to 6,000 from 7,100. Strangely enought the housing market in the San Fransisco Bay Area...

This real estate market reminds me also of the late 80s. I dont know if you are familiar with the Moreno Valley area but that was the hot thing then. After the defense cutbacks all those people (who must have had 2 hour one way commutes) lost their jobs and simply walked away from their homes...