Hampton Homes Decline Most Since Records Kept; Cali Home Prices Fall 36%

ByLoSellHi · May 19, 2009

Quote from Cutten:

What's anti-american or hateful about thinking houses are getting cheaper?

Nothing, which is why surf has either been huffing, is drunk on too many appletinis, or had yet another brain fart.

Debaser82 · May 20, 2009

Quote from 4444CJones4444:

Anyhow, the graph is interesting and to me suggests the U.S. is getting pretty damn close to a bottom in housing prices and Germans just aren't going to overpay for housing.

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Those German stats are unbelievable.

Does anyone knows some more insights on their decade long flat house prices?

Cheers.

makloda · May 20, 2009

Germany is still suffering from a gigantic glut of homes/apartments from the 1990s reunification-fueled homebuilding frenzy. Tons of private investors got burned back then in semi-fraudulent real estate developments/investments.

Home ownership is relatively low, rent increases are barely keeping up with inflation. German law is structured in a way so tenants rights are given higher priority in court than owners' property rights (i.e. you have a single mom with children in your apartment and she can't pay rent, you will have a tough time evicting her -- unless you can provide her with an alternative place to live in. Thousands of owners are being burned by tenants that can't pay but that can't be easily evicted).

Real returns after taxes on owning and renting out e.g. an apartment building are low (< 3-4% annualized is not uncommon). Why the hassle when the good ole' German Bunds pay the same 4%?

Dr. Zhivodka · May 20, 2009

THAT ....is 1.25!!! you gotta be shitting me !!!

You may shaite you collective pants if posted if I a picture or two.

Dr. Zhivodka · May 20, 2009

The surf was on the mainline in Phily. . But no more. Look it up. I thinlk it's in poor taste to say anymore.

Quote from ByLoSellHi:

Hey surf, aren't you the one telling everyone here how great things were in NYC a year ago, you never conceded any real estate bubble, and you've never really ever acknowledged any fundamental economic problems?

I know, I know...things are great where you're at and everyone's flush with cash despite what the actual data has to say about the number of people behind on every loan imaginable and conceived....lmao. Say hi to all the deadbeats up in Westchester for me...including all those social butterflies you hang around like a gnat.

You want to speak truth? You've been talking like an idiot for a long time. Underwater much?

Pa(b)st Prime · May 20, 2009

East Hampton is very expensive. Pretty much anything that you'd say "nice house" is two mil and up.

Quote from Dr. Zhivodka:

THAT ....is 1.25!!! you gotta be shitting me !!!

You may shaite you collective pants if posted a picture or oe two.

GTG · May 20, 2009

I would bet "real" inventory in San Diego is about 2-3 months. (listings without offers)

Jem, do you think the failure of the recent ballot initiatives will have any effect on the San Diego housing market? I'm thinking that a lot of the houses in the 500k to 700k range are owned by public employees and that many of these people are going to get laid off in the next few months. Do you have any thoughts on to what extent this could do for real-estate markets in San Diego?

Dr. Zhivodka · May 20, 2009

Well apparently not if she's trieing dump her place for 1.25

I've been to the Hapton's. Many tmes, I don't get at all ....jelly fish ...medical waste....no waves, grey water ..made over made up bitches (cunts really)....I could go on and on..

And fire Island sucks cack

Quote from Pa(b)st Prime:

East Hampton is very expensive. Pretty much anything that you'd say "nice house" is two mil and up.

marketsurfer · May 20, 2009

huge waves, beautiful water in south hampton, dr. Z.

you must be thinking of the hudson river or jersey housewives...

surf

jem · May 20, 2009

Quote from GTG:

Jem, do you think the failure of the recent ballot initiatives will have any effect on the San Diego housing market? I'm thinking that a lot of the houses in the 500k to 700k range are owned by public employees and that many of these people are going to get laid off in the next few months. Do you have any thoughts on to what extent this could do for real-estate markets in San Diego?

I do not know. Ca has a low homeownership rate. People are standing on the sideline ready to buy as long as banks will give them the money.

Set this off against the wave of foreclosures set hit the market in the fall and I just do not know.

I suspect it will all depend on interest rates and jobs.

The demand is there - the variable are interest rates and fha 3% loans.

Perhaps another leg down in the fall. And a chance at stabilization next spring..... if the worldwide depression does not spread out of Japan and overwhelm the Obanana republic inflationary stimulus.

by the way that Obanana Republic is trademarked by JEM - you may use it with attribution as long as you are elitetrader member as of today.