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By 'refocus' do you mean they lowered minimum credit scores and other qualifying criteria?

Conservation of what?

The all cash buyers are a valid thing to pay attention to, but they aren't what has driven the market historically, even for Irvine. In fact, Irvine has shown itself to be more sensitive to rates than other areas. The Irvine price declines in 2013-14, 2018-19, and 2022 all coincided with rapid...

Here's a question for you -- Does climate ever change for the benefit of humanity?

Wow... He got off light considering the whole use case for crypto is money laundering.

No, that was Danimal math there. Kumon could help with that. Your larger point is also pretty weak because raw population numbers don't say anything about the number of people shopping for homes. The median price in OC is $1.2M and that really just gets you a basic 1,200-1,400 sq ft home...

There are only 3.1 million residents in OC, so about 1 listing per 1,100 residents.

@zubs chart also shows inventory higher than at the end of the low rate era.

We are on the cusp of stagflation.

Abject denial of reality. This is a textbook case of cognitive dissonance.

If that's what you said, then you got it completely wrong. Inventory has already doubled off the recent lows even as rates more than tripled.

Goalposts moved. You started out saying "anytime is a good time to buy if you can hold on for at least 5-10 years". It didn't work out that way in the 90's or the 00's. Now you're saying "show me the losses" after spending years complaining about Larry's incessant posts doing exactly that...

This question betrays all the other shuckin' and jivin' you're doing. Holding for five years was not enough to come out ahead in Irvine historically.

The three year average is from 5-7 years ago (2017-2019). You said higher rates this year would lead to lower inventory this year.

Ah, so your advice to hold for at least 5 years only applies to that narrow, limited segment of homes you were tracking in 2008. Got it. :rolleyes:

Mortgage rates hit a new high for the year. I can almost feel that sweet, sweet inventory disappearing before our eyes. But wait a second... What's this I see? Inventory is actually higher than last year and so is market time for homes under $4M. Well, never mind all these silly...

Yes, a 28% decline in value is your idea of a good time to buy. Of course, there were also the thousands of Irvine residents that lost their homes. I'm sure those people are glad they listened to your sage advice.

Yeah, those people that bought in 2006 and held on until 2011 really made out like bandits.

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