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<p>But y'all probably already knew that.</p> <p><strong>Subprime crisis shines light on mortgage brokers; Class action suit against NovaStar alleges hidden fees; lender to fight back</strong></p> <p><a...

<p><a href="http://www.latimes.com/business/la-fi-layoffs6apr06,0,3760899.story?coll=la-home-headlines">http://www.latimes.com/business/la-fi-layoffs6apr06,0,3760899.story?coll=la-home-headlines</a></p> <p>Pink slips litter loan industry</p>

<p>hbunny,</p> <p>You make a valid point that not all those who "flipped" are "flippers." You sort of backed your way into it (I, for one, am jealous). You also don't fit the mold for a "flipper" because you (presumably) can afford what you bought -- unlike those relying on appreciation --...

<p>I have been wondering when the folks at W Lyon would crack. Maybe this is the first sign. The sales reps always seem so smug. I asked them last year if they were offering incentives and they replied: "We don't need to." Of course, they subsequently have started offering incentives...

<p>iceeman said:</p> <p>"<em>I know the risk involved with buying a home (especially in today's market), but from the study i've done...buying a house is one of the safest investment ( just as long you keep it for a long time). I think of it as my 401k plan almost. There will be times when the...

<p>iceeman,</p> <p>You'd be CRAZY to buy a house in Irvine (or anywhere in the OC) in the next 2 years. Just be patient. What do you have to lose by waiting? Nothing. What to gain? You will have a bigger down payment -- which will save you loads of money down the line. You will also have...

<p>Have prices changed since the 1/13/2007 price list? Just curious -- I won't be buying for at least 2 years (at a minimum) because I am persuaded (like just about everybody else that I know) that prices will drop significantly.</p>

<p>You call the location convenient, I call it bad for your health (especially for kids). It is really close to the I-5. The LA Times had an article on the relationship between a kid's proximity to freeways and permanently reduced lung capacity. Based on a huge long-term study. Scary stuff...

<p>From Bloomberg:</p> <p>Kenneth Heebner, the manager of the top performing real estate fund over the past 10 years, said the economic damage from high-risk mortgage defaults is only going to get worse. </p> <p>``We have a trillion dollars of subprime mortgages and we're going to have huge...

<p>Irvine_native,</p> <p>Did you pick up a price sheet? Any drops? Did you ask about incentives? And don't worry, Plan 4 is out of my price range -- so no competition from me. Also, I have no plans to purchase for at least another 1.5 years.</p> <p>Could you elaborate on what the rep...

<p>crucialtaunt,</p> <p>I've been reading SeekingAlpha for months -- great site. The best columnist is Barry Ritholtz, <a href="http://seekingalpha.com/by/author/barry-ritholtz">http://seekingalpha.com/by/author/barry-ritholtz</a>. His columns on housing are insightful and he agressively...

<p>red,</p> <p>So where are you finding brand-new houses in Irvine at $450,000? Maybe this is a semantics thing, but "house" conveys detached SFR. In Irvine, the only brand new "homes" at $450,000 are condos/townhomes. Prices will have to come down quite a bit for a brand-new house in...

<p>test</p>

<p>IrvineRenter,</p> <p>I agree with much of your analysis, except for the part about builders being sued by recent purchasers (presumably upset about buying on the way down). I have yet to hear someone describe what such a suit would look like. What would the cause of action be?</p> <p>I saw...

<p>Will you have to cross Jamboree to reach The District? Just trying to get my bearings. Thanks.</p>

<p>Comments by Irvine Company chairman Donald Bren in the OC Biz Journal (1/8/2007) on housing: "Our internal forecast here is that within six months, we'll see a distinct turn.... Not a dramatic turn, but a positive turn." "I've been saying this for a long time: The homebuilding industry...

I pressed the Laing rep on pricing yesterday. Tentative pricing is mid $500s to high $600s.

I visited Decada yesterday. They are offering "back-end" incentives ranging from $10,000 to $13,000, applicable to upgrades and/or closing costs. The catch = you have to use their lender.

socalhousingbubble, Thanks for the post. I am also interested in Portola Springs (but not at current prices). Two questions: (1) What sort of control does the Irvine Co. have over the merchant builders' pricing? Could you explain the legal structure, etc.? (2) What exactly was...