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<p>Some great quotes in this article: second mortgages are "radioactive" -- "The private secondary market is not functioning."</p> <p><a...

My understanding is that the City of Irvine must comply with this. The home builders are not directly regulated.

<p>4walls4me,</p> <p>Did you find out what the other models are now priced at?</p>

<p>irvine_native,</p> <p>I was blaming the City, not TIC.</p>

<p>reason,</p> <p>I sincerely wish you good luck on the '05 purchase. It sounds like you may have used creative financing to get in the market, did you? If so, have you refinanced or do you plan to?</p> <p>Please don't let the hostility drive you away. We need open forums and divergent...

<p>reason,</p> <p>Are you kidding? I hope so. As IrvineRenter would say, the days of appreciation are over -- especially in the short term ("4 to 5 years"). And BTW, a "little condo or townhome" will run you over $500,000 in Irvine. That's not afforable for a first time buyer making "only"...

<p>I agree that the Jamoboree corridor will become a nightmare. My commute for the past 3 years has been from roughly Irvine Blvd and Culver to South Coast Metro. I take the 261 S (on-ramp at Irvine Blvd.), continue on Jamboree, take the 405 N, and exit at Bristol. In just the past 3 years...

<p>This is priceless:</p> <p><a href="http://news.yahoo.com/s/ap/20070601/ap_en_tv/house_flipper_investigation">http://news.yahoo.com/s/ap/20070601/ap_en_tv/house_flipper_investigation</a></p> <p>'Flip This House' star accused of fraud </p>

<p>graphix,</p> <p>I think you are referencing a unique situation where the renters signed a lease with "straw owners" and were paying rent to folks that didn't own the house. In other words, there was never a valid lease. Not sure though, I didn't read all the comments. Can you confirm if...

<p>rkp,</p> <p>Yep, I'm sure. Property Law 101. Of course, almost everything is negotiable -- so you need to read your lease closely to make sure it doesn't make your leasehold interest somehow subordinate. In most cases, the lease is an encumbrance on the property that survives all...

<p>stillConfused,</p> <p>rkp makes a very good point -- get out of the apartment and rent a house if you are feeling cramped. There should be some excellent rental deals hitting the market soon (all those folks that haven't been able to sell may start renting out their "investment" to slow...

<p>This topic has already been discussed on this forum and on other blogs at length. But I thought this article does a nice job of explaining how appraiser fraud works. I apologize if this has already been posted in another thread.</p> <p>The article also explains how this fraud leads to...

<p>Trooper and mk9,</p> <p>Didn't mean to step on any toes. But I think it is still permissable (and beneficial) in the US to question if the cops acted appropriately. I'm not saying they did anything wrong here -- in fact, from what has been published so far it appears they did what was...

<p> </p> <p>Subprime `Liar Loans' Fuel Bust With $1 Billion Fraud</p> <a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=aonxuz3OYwLg&refer=home"><u>http://www.bloomberg.com/apps/news?pid=20601087&sid=aonxuz3OYwLg&refer=home</u></a>

<p>More details from the LA Times:</p> <p><em>Joni Park summoned sheriff's deputies to the couple's Mission Viejo home Friday to tell them the couple was set to inherit $1 million, according to an investigator who asked to remain anonymous because he wasn't authorized to speak about the...

<p>Sounds more and more like this is related to the housing bubble. But man ... they are leaving 3 kids behind. This is a tragedy.</p> <p>This is off-topic for these forums, but I wonder if the cops acted appropriately? Sounds like it from the LA Times article, but who knows.</p>...

<p>More details from the OC Register:</p> <p><em>The Parks were due in court Monday for a meeting about a civil lawsuit. Laguna Beach police are also investigating whether a visit by sheriff's deputies to the Parks' home Friday could be related to what happened less than 48 hours later...

<p>More details from the LA Times:</p> <p><em>"They were just people that got pushed a little too far with things they couldn't clear up legally and financially," their 23-year-old daughter, Christie Park, said in an interview. "My mom was at her wit's end…. She was so frustrated that it just...

<p>Mel,</p> <p>Based on the details provided in your posts, it sounds like you and your significant other are getting ready to start your careers at big law firms. Take it from somebody in the know, the average associate at a big firm only lasts 2-3 years before they burn out. "Churn and...

<p>arctichaze,</p> <p>While it is true that you will be "OK" (whatever that means) if you stay in the house for the long-term (10+ years), I believe most people only stay in the same house for 5-7 years on average (can somebody confirm with a link?). It is very possible that housing prices...