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I live in LaQuinta/Indio near Palm Springs. The place I currently rent is selling for the low 400's, when I began renting it was in the low 500's. Rent is 1700/mo roughly .33 when I began. Now I can get the same place or slightly large for around 1400. Ratio has remained fairly constant in...

My chuckle comment wasn't a personal dig at you. If you took it as such, i apologize. I hear more than a few make similar statements on a national level. Even the local realtors are spouting something along those lines. Which, I think as stated before, national just doesn't matter to...

I have to chuckle at this statement. Maybe on a national basis 20-25% and a bit of a cushion from a lower interest rate environment. Not uncommon to see 40-50% retracements in CA or other hot market areas. My area ALREADY has come down approximately 20-25% from the highs a year or so...

I'm about as bearish on housing in my areas as you can get. I don't care what's going on nationally, cause it really doesn't matter to my neighbor selling their place. We have about 150 houses in my community ranging in price from 325K to 600K. Prices per sq ft run from 150 to 275. The...

Harvick and Burton caught with some not so kosher wheels... .003 slit cut in them to bleed off excess air pressure.

There is a neat mortgage broker commercial here where he says get a $500,000 1% fixed for five year loan and pay only $1200/mo. They repeat it three times, like that stupid "HeadOn" commercial to make sure you get the point. The actual apr in real small print just to be legal. Personally...

Q, My comment was directed at the cash flow situation all things remaining equal. We all know that teaser ARMs with no apprecation or worse a drop in pricing = no chance to refi to a fixed and avoid the reset payment shock. And yes, people feel poor when their home is valued less than...

Assuming they have a FR note. You would be correct. However, a great number of loans in these areas have been hybrids the last 2-3 years. No appreciation + rising rates = bad news

With as many cars as Tony wrecked this year I have no sympathy for the guy missing out. Couldn't happen to a nicer guy. He's probably the best current driver in the series, but, his actions this year sunk him.

Yep... Plus, 70% of all homes sold in this valley are <400K. What's the old adage, Statistics don't lie, but, liars use statistics.

Why don't they just drop the price??? It's an obvious attempt to keep comps up. Lennar has been cutting prices 15% without much resistance. Just say you want to buy and prices are too high... 15% off. Valley sellers and builders offering top-notch incentives to potential buyers Lou...

Not the case. All purchased in the last 18-24 months. with the lure of CHEAP money and NONE are in FR loans...

I always like your post QQQ. I know far too many people living in 1-2 million dollar homes on incomes of less than 150K/yr. Something just doesn't work with that equation... it's out of balance, IMHO. Most have a leased Escalade and a BMW/Benz in the garage as well. Live the high life...

I know the thing that IS different this time is homeowners have used their house as an ATM. That really wasn't the case in the 90's blow up. Now they do care what it's worth because they can't finance their lifestyle on employment income alone. $2,000/month would have bought you a nice...

There is a surprise... NOT!!!

Anytime the sub-industries start slashing prices to garner business, it usually doesn't bode well. I did like the RE whore on CNBC today, saying that with the huge run ups in price, that a 5% adjustment should correct some of the froth or whatever in the market. Priceless!!! After homes...

UNFIAR? It's alll about gaining an advantage and he missed by 3 feet. They tried to get to the pits before the yellow came out. Happens all the time at other track and you never know if NASCRAP will throw one anyways. The issue I had when I saw it was KB had no alternatives. He was to...

I saw something today about it and I'm no fan of either Busch kid, but, Kurt got shafted big time. Another reason I don't watch NASCRAP anymore.

The total dollars evaporating in CA alone will dwarf Enron losses... How's that? I see assumption about buying at the top. I also see assumptions about people enjoying the appreciation so a drop won't hurt. One problem... almost EVERY client of mine has re-fied and taking huge amounts of...

I'd still rather pay 15% on a 200K home than 5% on a 400-500K overpriced pig. At worst I still only have a max of 200K in debt, instead of 400+. How do you think a 20-40% correction would affect an owners feeling of "wealth" if they own the 400-500K pig? I've been through three of these...