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Checked on a friends house today. He bought it for 800K, comparable homes are selling for 450K now :eek: I think he nailed the peak actually.

LOLOLOLOLOLOLOLOLOL no kidding

Anyone think we think hit bottom within 2 years?

"Until One hour later, my order started to take effective. " Did anyone actually read what he wrote????? This was not an issue with exceeding the 50 messages per second, or the above orders never would have completed.

ttt

If you have posted your model, could you provide a link?

Thats why I added the yellow line. Early 09??? So you think its going to accelerate even more??? That would be an insanely fast crash for real estate. Hate chronic bitchers. Omg its the end of the f-ing world, I wrote 2 posts in a row. :p

Using rough median numbers, detached homes are about 800K, median income 55K 800/55 = 14.5, which is the top of that graph If we hit the lows of 7X income, that 800K home will be $385K :eek: Some people are saying 50% drop for california. Considering the magnitude of this bubble and...

PS: I dont want to hear from cry baby bag holders and irrational real estate bulls. If you think you have a good reason for a vastly different scenario, post some actual data to back it up along with some solid logic

Check out this chart. If we accept the assumption that we will once again hit the bottom of the affordability graph due to crash momentum in the other direction, I pose the question, when will the bottom truly be in? Take a look at the red lines for 2008, 2009, 2010 If that situation...

Sorry to hear youre a bag holder that is getting killed. Bag holder delusions. We have historical record breaking bank owned inventoryand near record breaking regular inventory to burn through. Add 20+ months of ARM resets, and the start of a recession and there is no way prices start to...

Not to mention the climbing crime rate and murders

Forget your reading glasses? It says pinggington.com right on the graphs

Holy crap! Not a good start for 2008

Do you think there is any way we could hit a bottom within 2 years? The last boom had 5 straight years of negative prices. This bubble is much larger. We just had our first year of solid price declines which blew away the previous real estate bear of 5% losses a year tops. I have a lot of...

Whoa Thar she blows! OK SERIOUS QUESTION... who thinks we end up tagging the bottom of this graph on panic momentum???

There now more bank owned properties in san diego than there are homes being sold! Id sure hate to be a seller right now, holy shit At the same time, were still very close to the all time record high for inventory. There is no sign of a bottom

Oceanside is getting destroyed too

Here is a pic of bank owned properties in the more affordable Mira Mesa area of san diego. The realtytrac map will not plot the homes if there are more than 150 on the screen at one time. I had a difficult time finding a spot on the map that had less than 150 homes on it that are bank...

A bit over a year ago I posted there were 146 foreclosures in this san diego area. There are now 358 bank owned propertes :eek: A 245% increase in just over a year in one of the strongest up and coming san diego communities (great schools) The NAR keeps saying the bottom is in...