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Nice call IHO! Irvine-based electric vehicle company Rivian slashing jobs for second time this year The electric vehicle company will announce about 150 job cuts, citing high interest rates and lower demand. https://abc7.com/rivian-jobs-irvine-careers-electric-vehicle/14761190/

Another correct prediction... ---------------------------------------- The Worst Bond Bear Market Ever Marches On Zero coupon bonds, which are essentially long-duration bonds on steroids, are still down almost 60%. Long-term Treasuries are still down more than 40%. Even 7-10 year Treasuries are...

Ruh roh Shaggy.... higher rates lead to higher inventory. Home sellers are returning to the market In addition to a higher number of new listings, more new contracts were started this week than at any time in 2023 Unsold inventory now is almost 32% higher than at this time last year — and...

I think most Asian parents use Kumon to get their kids ahead in math, while white parents use it for remedial learning. I'm a white parent that uses it for remedial learning for my son. He had severe ADHD starting in Kindergarten that got a lot a better in the middle of third grade, but he...

This can't be correct. I thought inflation was transitory?

By 'refocus' do you mean they lowered minimum credit scores and other qualifying criteria?

Conservation of what?

The all cash buyers are a valid thing to pay attention to, but they aren't what has driven the market historically, even for Irvine. In fact, Irvine has shown itself to be more sensitive to rates than other areas. The Irvine price declines in 2013-14, 2018-19, and 2022 all coincided with rapid...

Here's a question for you -- Does climate ever change for the benefit of humanity?

Wow... He got off light considering the whole use case for crypto is money laundering.

No, that was Danimal math there. Kumon could help with that. Your larger point is also pretty weak because raw population numbers don't say anything about the number of people shopping for homes. The median price in OC is $1.2M and that really just gets you a basic 1,200-1,400 sq ft home...

There are only 3.1 million residents in OC, so about 1 listing per 1,100 residents.

@zubs chart also shows inventory higher than at the end of the low rate era.

We are on the cusp of stagflation.

Abject denial of reality. This is a textbook case of cognitive dissonance.

If that's what you said, then you got it completely wrong. Inventory has already doubled off the recent lows even as rates more than tripled.

Goalposts moved. You started out saying "anytime is a good time to buy if you can hold on for at least 5-10 years". It didn't work out that way in the 90's or the 00's. Now you're saying "show me the losses" after spending years complaining about Larry's incessant posts doing exactly that...

This question betrays all the other shuckin' and jivin' you're doing. Holding for five years was not enough to come out ahead in Irvine historically.

The three year average is from 5-7 years ago (2017-2019). You said higher rates this year would lead to lower inventory this year.