Lionel
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Here's what's happening in San Diego as the subprime disappears: --Sales for the month of April were a dismal 2324, a decline of 18% from April 2006 and 44% from 2005. This is the lowest April sales activity in the past 12 years. --Pending sal…
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Alright, Redmond, thanks for my best laugh of the day. No, the pony wasn't pink, but for $5 it should've been.
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Be careful what you wish for, Shug. Gentrification isn't all it's cracked up to be. Growing up in West LA in the 70's and 80's, there were many more dives (restaurants and bars) than there are now. Even in the nice beach town I grew up in (Pacific P…
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I don't know, JD, I think buying property now, especially in an area that's still frothy (as Seattle certainly is) would be tantamount to buying stocks in the summer of 1929. The only ones who made out well then were those who shorted the market. Yo…
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I think everyone here is talking about two entirely different eras of real estate. My parents bought a house back in the late sixties for a pittance in LA that now would list for millions. Flash forward to present era, my brother bought a house in N…
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Shug, home owners in LA use 63% of their income to pay off their housing debt. Historical levels hover closer to 25%. Where does one find analysts dim enough to believe this is sustainable?
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That's true, the Tim, perhaps with Lereah moving on, Shug could take over his job. You don't really need to know anything about economics, just an idiotic belief that housing prices will always go up.
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Shug, a little advice: when housing becomes an actual joke, it's really not the time to buy.
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sourmash, your point about short commute struck home with me. I rented a house recently in Ravenna because I could literally walk to UW from there (where I'll be in grad school). It's incredibly liberating knowing you can do that. Post grad school, …
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I'd left this on the end of an open thread, so my apologies for anyone having to read this twice, but, frankly, it amused the heck out of me. Q: What city has average rents of $1,100? In other words, higher than Seattle. A: Compton. That $1…
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All Schiller seems to be saying is that Seattle arrived late to the party. The remaining quotes in the article are from NAR shills. Only an imbecile would buy now.
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The $1000 club. Wow. Impressive. You know who belongs to the 1,100 club? Paris? Boston? Vancouver? London? Uh, Compton. Yep, murder capital of the world has a higher rental rate than Seattle. But everyone wants to live in Compton.