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The article quoted above which you referenced is showing the price drops.  So tell me how prices are either flat or rising? 

The article shows two zipcodes with small sales volume having small increases in price (3.9% and 1.3%), but every other zipcode in Irvine had price drops, some up to 11%.  Not sure how you got that prices are same or higher. 

Honestly, these FCB are the classic examples of "penny wise, pound foolish". 

disagree

Their silence is interesting.

Prices follow volume.  Thus I would argue that we should be comparing YoY prices with a minimum of 6-12 month delay.

Slow down was called less than a year ago thus in it would be inaccurate to compare current prices as the main YoY price effects of a slowdown will be seen later down the line.  I suspect that any rebound seen lately is what you like to call "seasonal" but the real effects of the slowdown are...

Everyone will have a different definitions, however I do not think anyone will argue a 12-15% drop in 1 year as demonstrated by the examples above. 

Why do you assume there would be a number of these same models out at any given time?  There were a few that sold last year for a high price as demonstrated.  The one that sold this year was significantly discounted and there is one more out right now.  The one currently listed is much more...

I dont think the activity looks weird.  Realtyone is a large group in Irvine so it is not unusual to have same group representing both sides.  Also I do not see what is unusual about having 2 price drops in 3 months.  If there was no interest, I would expect at least 2 drops in that time frame. ...

You dont need to but if you waited 1 year and it saved you 140K plus nearly 0.75% less on rate, wouldnt that feel much better?  12% cheaper with nearly 0.75% lower rates.  That equates to roughly 20% cheaper home in 1 year.  OUCH! https://www.redfin.com/CA/Irvine/7-Olinda-92602/home/5771806...

lol.  who do you think Mety was referencing? 

What is considered "really tight lending practices"?  Compared to the NINJA days, sure its tight, but that is relative.  I believe lending is not tight at all.  In fact I feel like its become fairly loose. If the tax overhaul expires in 4 years, will SALT deductions come back? 

True there are things that can kill you everywhere.  Everyone must choose their poison.  Some things are likely to be more dangerous than another.  For me, I would never live too close to a freeway as that is clearly documented to be detrimental to your health.  Living 3 miles from a landfill? ...

Panda seems like you have had a change of heart in your prediction for Irvine.  Half a year ago, you were singing a different tune.  What changed your mind? 

I actually think the opposite is happening.  Sales volume is picking back up, but prices are still dropping.  Im sure the lower and lower rates have helped sales.  Prices follow volume and the affect on prices is delayed.  Just my opinion.

Wells fargo advertising 3.75% jumbo rates today.  Just yesterday it was 3.875, last week it was 4.0 and two weeks ago 4.25%.  Literally 0.5% drop in the past few weeks.  Housing has become 6% more affordable with these rate changes in the past 2 weeks.  If this doesnt boost sales, then housing...

Really?  How many charts or data points have I posted on these threads that showed exactly what you claimed I havent done?  This probably is the biggest BS you have posted yet.  Anyone could clearly go back to the other threads and easily see for themselves.  The fact that data showed things...

Wrong.  The top 0.1% got in also.  Its just that the top 1% only spent 400k instead of 4 Million.  The people that got cheated are the ones who got pushed out by these.

You and I have long conversations about whether this is seasonal or not.  From the beginning you have implied this slowdown is seasonal, yet when you are called out on it, you state you are just "asking" whether its seasonal or not.  Now you are back here implying its seasonal again?  You would...