Jan 26 2013

Can you live in California on a $60,000 a year household income? Living the middle class lifestyle in California on $60,000 a year.

Can you live comfortably in California making $60,000 a year?  It really depends on what you define as comfortably.  We should note that the median household income in the US is $50,000 and in California it isn’t much higher.  California gets a notorious rap of being an expensive state but this is if the entire […]

May 9 2011

The financial bubble that is still popping – Home prices enter a deep double dip because household incomes are still in a rut. Housing bubbles in Los Angeles and San Francisco persist while Miami and Phoenix metro areas face double digit annual price declines.

Some people are stunned that home prices continue to sink as if a lead weight was placed on the value of housing.  The mainstream press never sliced and diced the minor jump in prices we had last year because much of the increase occurred around tax credit gimmicks and the Federal Reserve using artificially low […]

Nov 16 2010

California facing $20 billion budget deficits deep into 2016 – $25 billion budget deficit starring California in the face for the next fiscal year and overly optimistic economic predictions.

California, the wealthiest state in our nation is facing some Herculean financial troubles yet again.  As the elections came to a dramatic close, it was announced that a $6 billion budget deficit emerged from “miscalculations” of potential revenue streams.  The current Governor was overly optimistic in many respects including an expectation that the Federal government […]

Nov 12 2010

The stalling of the California housing market – California Foreclosure Prevention Act has institutionalized a drawn out foreclosure process. 470,000 MLS listed and distressed homes in the state. California construction industry employing the same number of workers as it did in the early 1990s.

The state of California continues to grapple with the collapse of the enormous housing bubble.  The Governor earlier in the week called for a special emergency session to deal with a $6 billion deficit that emerged just weeks after the state budget was signed and the ink dried.  States with a large dependence on the […]

Oct 2 2010

The housing documents mess – Why banks are carelessly rushing foreclosures in Florida and not in California. Mortgage foreclosure deficiency judgments.

In the last few weeks the issue has come to the table that in some states, in particular Florida, banks are rushing through the foreclosure process so quickly that they have mismanaged the paperwork process.  Apparently the same forged paperwork that got people with very little income into highly leveraged properties is now working in […]

Sep 19 2010

U.S. home prices will resume price decline after year of banking and government intermission. Multiple signs point to another year of slow home price growth and U.S. home values over priced by 20 percent.

Home sales follow very seasonal patterns.  Yet much of this natural mechanism was stunted by banks delaying foreclosures and the government artificially stimulating home sales.  Now that much of the stimulus has been exhausted, it is clear that home prices are correcting once again.  It is hard for many to imagine that home prices can […]

Sep 9 2010

California MLS inventory up 25 percent since April. MLS public data at 144,000 but 742,000 mortgages in California are in foreclosure or one payment behind.

MLS inventory for California has increased by 25 percent since April of this year.  Part of this has to do with more foreclosures and short sales trickling their way onto the market.  It also has to do with sales declining because of tax credit expiration fatigue.  But what is the real inventory if banks were […]

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