Lionel
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- Lionel
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LA is, in fact, a sprawling wasteland. You don't even need a happy face to say so. Anywhere inland was "the hood" to me, a scary, smoggy malevalent place. But this is also why the nice areas here always appear to be so insulated from price declines.…
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Mossejaw, it sounds like you have your finances under control, so I wouldn't sweat any price declines, especially if you're happy where you are. As to Queen Anne being special, it made me smile, as I am from a very special neighborhood in Los Angele…
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I'm with you, Lake Hills. I'm still uncertain if it's genius satire or the ramblings of a madman, but either way, I like it a lot.
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Hey, just a dog-gone minute here, I might have found the single thread of faulty logic in your brilliant, devastating diatribe. You say your father's wealth is based on his vast real estate holdings, but you also state that landlords are evil. Your …
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My landlord is actually in Brussels right now as a presecutor in a human rights trial against a Serbian mass-murderer, but you're right, he might still be evil. Of course that would make my mom evil too, because she owns an apartment building in LA.…
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If I were a realtor I'd be a little angry and frustrated too. Although they've been able to live in denial for a little while now, the numbers will soon obliterate that denial. It was reported today that sales in LA dropped 50% YOY. 50%! Imagine …
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I'm not sure about Boeing. Their existence seems a little precarious: http://tinyurl.com/34js7h
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Everyone's repsonsible for the bubble. A broker I heard from yesterday said that banks would ruotinely give him a hard time if he came in with a full-doc loan, because it took so much extra work for them to process. He says they were much more amena…
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I'm a neophyte to the Seattle area, so I don't have the nuanced insight that others might have about specific markets, but I have noticed a huge inventory in Shoreline. Pop it into a craigslist search and numerous properties diaplay. I wouldn't be s…
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Worked for me. Love to see the words "inventory", "Seattle", and "exploded" all in the same sentence.
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SRS is an ETF that goes up when RE goes down. If you think that REITS will continue to get hammered it's a solid choice. If not, stay away. The nice thing about it is that you can short a number of companies without worrying about a buy-out sending …
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No, no I cannot believe it. Why stop at 16? Why not 60 or 80. Or buy a whole town?
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Just moved to Ravenna. Renting for under 1700. Very nice 3 bedroom craftsman, set back on a hill, great house, best kitchen I've ever had. Nearby there's a 2 bedroom, very mundane place listed for 450K on redfin. Despite Shug's contention that my ne…
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For the first one, I love that they've calibrated the price to $76 and not $75. I wonder how they came to that. What did they need that extra buck for?
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George, I think you're dead-on with your belief in ignorance and laziness. I corresponded briefly with an LA Times reporter in the RE section, and she clearly believed her realtor-assisted stories. When I asked her what an LA Times reporter earning …
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Steve Martin (in the Jerk): "Ah, it's a profit deal!"
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I'm just relieved that we're in a broad cyclical trough.
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Oh, but this can't be good: Some of the markets ZipRealty covers suffered far bigger inventory expansions than the total jump. Los Angeles reported a 39.7 percent leap since April of 2006, Miami climbed 53.9 percent and Seattle soared 63.2 percen…
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Uh oh, Seattle's not the only place where people are moving: "Velto says the county could be the most recession-proof market in the Southland. 'There are 3.5 million people supposed to be moving into Southern California the next 10 years,' he sai…
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Keep building, you morons! SRS up 2.59 today! You might not be figuring it out, Shug, but the market is.
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Thanks, Mike. That's one eye-opening series of charts. Wow.
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"Hi Matthew...considering your prediction that prices would drop in April was total bunk...why should we believe anything you predict?" Why? Because Matthew has a grasp of fundemantal laws of economics, and he knows that if you stretch price to i…
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A buddy of mine has done very well for himself ivesting in real estate in the Seattle area for the last 15 years. He thinks condos are going to tank.
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Shug, is that projected population surge really such good news? Come down to LA for a visit and check out the traffic, which has become increasinly unbearable. It took me 2 hours to get from the Palisades to Beverly Hills last week, not during rush…
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Well, dejay, this can mean only one thing: it's a great time to buy! Because, as the realtors tell me, a rising inventory means there's lots of selection!
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The Chinese government last week warned that, due to the poor rent to own ratios, there is a housing bubble at work in China. Congratulatios, Shug, you are now a less reliable source of housing information than the Chinese government.
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Altnernative energy sources