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I saw something on the news today that was shocking.  More than 25% of NYC condos built after 2013 remain unsold.  OUCH!

Lets compare a person who bought in 2006 versus renting till now.  For the average person who bought in California, the home value is about the same or slighter high now than in 2006.  During those 10 years, you would have built up about 22% equity ( at 30 year fixed with no extra payments) but...

Good luck getting any support on this forum.  Although I agree with you that people are at long term risk here, most here will not care or they are too worried this will hurt their property values.  Money>health. 

I dont think anyone will disagree with your statement here.  However I would argue that the Chinese buyers may be a potential liability in the future for Irvine home prices. If there is ever a situation where the Chinese sell in mass that would be disastrous for cities like Irvine.  I truly...

Correct me if I am wrong but I have not seen LL compare todays climate in real estate to that of 2006.  If so, it appears you are simply putting words into his mouth. 

I dont think I trust you actually.  LOL

I could see how someone may use this to get a deposit back, but what about all the other people who are not trying to get a deposit back.  What would be the reason they claim to smell asphalt?  Although you may claim fake news, those who do smell it would claim you are in denial.  Perspective...

SELL!! SELL!! SELL!!  (imagine Jim Cramer)

IHO will only accept a greater than 15% price drop for a true slowdown, otherwise its all seasonal.  hahahahaah

Poured asphalt that has cured over many months/years vs new asphalt constantly being manufactured.  Hmmmmm wouldnt ya think there just a tiny bit of difference there???  

If there is asphalt smell at nights, thats a hard pass for me.  But I would also pass on anything in the great park area because its built on a superfund site. 

There seems to be no doubt that there is an odor coming from the plant.  If that is the case, people should know that there are tons of toxic chemicals in asphalt and that should be a concern for the residents of nearby developments.

I have a friend in Stonegate that says he can smell it at night. 

Im sorry, did I misread you writing "YoY"????  Wait a minute... no you clearly wrote YoY.  So no, I did not misread you, but you seem to be misleading if anything. LOL really?  Maybe?  Yeah maybe since these are easily two exchangeable terms huh?  If prices have dropped nearly 5% and there...

Sounds like you are hedging now.  Only drops greater than 15% is worth talking about?  15% in Irvine can easily be a 200K price drop.  How long would it take you to save 200K post tax dollars? Contrary to what you say, Irvine has not seen YoY price declines in the last 5-8 years.  We are...

math is not his forte as we saw previously.

Really?  Your argument is that one particular house increased 50K whereas LL's argument is that all of Irvine dropped 4.6% on average?  Your argument, regardless of your position, is simply just weak. 

In this price range with high demand, a house that sits for 134 days is clearly overpriced. 

Dont forget that prices are down 4.6% in the midst of a tremendous drop in rates.  Rates are down greater than 1% compared to the year before.  As I explained before a 1% rate difference is an affordability difference of 11%.  For those that waited, you can now buy 16% more home than you could...

Key words here:  "with 50% down"  I can make any property cash flow well............................................. with 100% down.