Joined Nov 10, 2007
23,417 Blog Posts
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Geez. This is brutal. It just don’t stop.
Well, its almost as bad as Shangahi – another whiplash day – up 5% – three days in a row this mkt moved 5+% – maybe the Ohio regional banks need to raise fuel prices
I shaved for all you freaks. Now get in there and short HRB. I have a sneaking suspicion news is about to break.
Be honest. Someone knocked your mustache off.
He didn’t like last month’s commentary about how he looked like he was coming off a five night meth/coke speedball binge in Vegas…
I guess.
But hey, at least he’s not fat.
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Hey, serious, MM — your biggest fan, right here.
27.5 on FITB yesterday, because you got me looking at the Midwest the way you were looking at the West Coast.
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if it wasn’t for artificials I couldn’t deal with all this shit. Especially the dicks hiding behind computers.
This Mr. Mortgage guy looks familiar. I think I may have met him sometime in the past. He may live in Phoenix or LA.
While the California housing market is a piece of shit, prices have barely budged in areas like Beverly Hills, Newport Beach,Laguna Beach,Palos Verdes etc. I have my RE agent looking for a place for me in BH . I can’t find anything half decent under $3 mil. Prices are seriously fucked up. $3 mil for a 3000 sq ft. 1960s built house. WTF ???
NorCal, but used to live in LA 20 years ago to party for a year. How old is your sister? Hahah…just havin fun.
Thanks, Mr. Mortgage! Good stuff.
I’ll have you know, “The Fly” doesn’t hide behind his computer. His computer hides in front of him.
Let’s get something straight. Cycles are cycles. This one is the most fucked up cycle yet for “overall” general real estate numbers. This guy will be long gone in about 3 years. He’ll be one of the clowns that is still renting when the market turns up. The market will turn up. My coastal neighborhood at the beach in CA is thriving. Recently, there was a $1.6M property with 6 offers. Many more desirable properties that are priced (finally) low by banks are receiving 3-6-10 offers and closing well above the artificially low list price. Is the market bad? Of course it is! Will Mr. Mortgage continue to rent a trailer home in Hemet in 3 years? If he is as much as a tool as he appears I’ll let you answer that question.
Shut up.
I hope California finally breaks away from continental U.S. and floats to China, where you will be invaded by the Chicoms and put into slave factories.
http://www.youtube.com/watch?v=ZimMoZVcgOY&eurl=http://calculatedrisk.blogspot.com/
What the hell are “the artificials?”
I mean, besides your average California 25-year old’s “factory air” job.
Forget the meth-binge.
Is my man wearing green contacts this month?
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Never miss an episode, babe. No joke.
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Jake is going out to SoCal next week. I will let you know if I see anyone selling pencils on the corner of Wiltshire and Santa Monica Blvd.
Or if they are renting out Nicholas’s dungeon in Laguna Beach yet.
Joey- quit the crack man, its not becomming. This is not a fucking ‘cycle’. Is this Dennis Kneale? Come on. The meltdown oozes out from the crisis epicenter. It is happening now. Zillow has sone good free negative equity charting if you dont have access to a better source. I live 20 miles outside SF and the median home price of my city was 950k a year ago. It still is rather high but that is because no sales are going off. Comps are stale. We will take a 50% hit in the next year guaranteed. coastal cities will be torched too. Sorry.
jake – ‘artificials man’ and no, there is a tree outside the window that was reflecting some good light. Haha.
LOL!
You jealous fly?
You whiney low IQ bitches (ex fly)wish you could live like us!
What’s the difference between a west coast WAP and and East coast WAP?
3000 miles and much better New York Pizza!
LMFAO!
JoeyBagoCrackrox:
At least New York is a real city, and not a smoggy extenda-burb.
(Fuggin’ rookies)
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Why is it California in particular ?
I have noticed that most states that are in real trouble, are all situated in sun destinations and spanish speaking. Same thing in Spain which is far worse than California. England is not spanish speaking but they have the same religious mentality towards property. “A house is a man’s castle.” In Europe a lot of stupid Brits and Germans bought the villas in the south of Spain, and even Morocco, as a second home for their retirement. Most of them are now losing their shirts.
Mr. Mortgage, you better take over NAR’s chief analyst.
MM is absolutely correct in what he says, prices are finnally starting to drop in higher end coastal communities. I have lived in Newport Beach my entire life and I have never seen so many Newps agents this despondent. Coldwell Banker is having to dip into the coffee jar to pay their overhead. Mcmonigale can build 70 million dollar palaces in Shady but that is .001% of market and most of them are just sitting. I have full access to MLS and the price decline activity is taking off. New money communities such as Turtle Ridge & Ladera ranch have allready fallen off a cliff (-30-45% from 05 highs) as the majority of buyers were mortgage agents on alt a no down loans. Newport is always last to fall in SoCal down cycles, but it catches up in a hurry toward the end of the cycle. Look at prices in 2010-2011 and you will understand.
http://www.comedycentral.com/videos/index.jhtml?videoId=173525
The graph of home prices vs. income is the key to the entire situation – you cannot have home prices going far above the average income – simple. California is very much about location and the land – that is why an old 3000 feet home in Beverly Hills can be priced above a million – most of the value is the lot.