Jun 30 2008

Is Oil Having an Impact on Housing? Taking a Look at Los Angeles County.

High gas prices are nothing new to those that live in Southern California. But there is something surreal about seeing prices quickly approach $5 per gallon. In fact, as you scroll through the list of your local gas station options, you’ll already see $5 a gallon for diesel serving as a highlight of coming attractions.

Jun 29 2008

California Home Prices Down 35% From a Year Ago. Sales are up due to Distress Sales.

There may be a silver lining in falling prices and that is, homes are selling.  Maybe not at the blistering pace of the early 2000s but there is definitely a minor jump in those searching for bargains in the now heavily hit California market.  Incredibly prices are down statewide by a stunning 35%, the worst […]

Jun 17 2008

Revisiting the Last California Housing Slump: How bad are Things Currently for California Housing?

Sometimes the best way to measure one current downturn with one from a distant past is to look at the headlines. Many will recall that California in particular Southern California faced a boom and bust cycle; in the late 80s prices went up only to bust during the early 90s. Much was to blame including […]

Jun 17 2008

California Home Prices: SoCal Down 27 Percent Year over Year.

The California housing market continues to face severe pressure from distressed properties.  Currently the amount of inventory on the market is near 1 year and prices for the region have fallen a stunning 27 percent on a year over year basis.  Each of the major counties are now down $100,000+ from their bubble peaks.  About […]

Jun 16 2008

Lehman Posts First Loss Ever: Almost $3 Billion in 2nd Quarter

If you needed any more evidence that the loss party on Wall Street isn’t anywhere near an end, just look at the whopping $2.8 billion loss posted by Lehman.  This is the first loss ever posted by the Wall Street investment giant:

Jun 15 2008

Credit Crisis: $390 Billion in Writedowns so Far. The Epic Housing Bubble Explained.

The Washington Post has an excellent three part series that will be highlighting the epic in progress housing bubble. For those of you who are still uncertain how this entire jigsaw puzzle comes together, this resource will prove to be invaluable. You have to wonder how the entire economy has become so dependent on structured […]

Jun 14 2008

NAR: How a 4% Quarterly Gain was Really a 30 % Drop. The New Housing Math.

You would think that someone would double check their own data given the situation in the housing market before reporting a statewide gain.  You would assume that an organization that is the de facto standard bearer for Realtors would make sure that data accuracy would be the pinnacle of their mission.  This is not the […]

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