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Seeing LL post is like looking at a broken clock.

I suspect it will go over ask in this market

ROTFL

I didn?t read it as losing a debate.  I read it as a perspective of where they stand.  My only concern about your price to rent chart is that you didn?t provide the disclaimer that recent rent increases were not factored into the chart (as the author originally noted).  I am all about data, but...

LL?s graph was directed at me: Which I accept, however, please understand that the chart presented by LL cut out the disclaimer ?that OER is lagging behind other measures of recent rent increases.?  I am not saying the chart is wrong, but the chart doesn?t take recent rent increases into its...

I agree with you MM: Q1 last rents compared to now is like HPI.  I found a nice luxury rental in La Habra for a buddy last year for $2900.  He just told me they raised the lease renewal to $3,500.  Apparently, it?s a new build and exempt from CA rental caps.  This low inventory impacts even renters.

Unlike 2007, rents have also kept up with HPI.

Curious if you have seen any buyers with ?lock and shop? pre approvals. 

Interesting: Even if it states 1 common wall, if there is an ?air gap? in the construction, its ?detached? by definition.  Gotta love this new definition.

Mainly GPN:https://www.redfin.com/CA/Irvine/141-Spectacle-92618/home/173437471

I?ve noticed some ?attached? halfplexes have same HOA as detached condos.

MM, was waiting for a Safe Harbor disclosure. lol Thanks for your insights.

Thanks for the inside tips. Curious, how?s the West LA / South Bay markets compared to Irvine at the moment?

That area has only one supermarket nearby: Zion.

Yes, we are all worried that prices will drop down to 2020 levels.  I expect the same prediction in Dec 2022 after 5-7% appreciation.

Interesting flip here: 4 months with 80k appreciation.  Considering possible upgrades and fees, doesn?t look like much profit...

I tell people that are waiting for an Irvine price drop to keep waiting.  While they wait, make sure they have a hedge strategy because the ?drop? could occur after much appreciation.  Without a inverse HPI hedge, the wait strategy is like saying your broken clock will be right at some point in...

It?s all situational since you have to account for property type (and square footage) and square footage. I.e. would that $2m house be worth more further away. 

You?re seriously on point.  One thing you didn?t mention are the LTV requirements for Jumbo vs Conv High Balance.

I concur it needs to stop: Yet the market will reflect a lower price for homes next to the development than homes away from it. All things equal.