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That's a GRM of about 180-190. Smoking hot deal in today's market. Horrible deal in 2010's market.

Anyone have any recent news? Has Lennar mothballed the whole thing for now? Apparently they can't even get started on the <a href="http://www.latimes.com/news/local/la-me-greatpark4feb04,1,6523827.story">runway demolition</a>.

Question for ipop, NSR, and 123: After adjusting for interest rates, do you see any reasons why PE/ratios will be significantly higher at the next market bottom than they were at the last one (mid 1990's)? I don't, but I have an open mind.

Yes, the write-downs need to happen. Why aren't they? I contend it's because someone is holding on to the hope that they won't have to. If the management of Lennar woke up tomorrow and suddenly became convinced that home prices were going to decline drastically over the next five years, do...

They are waiting because they believe that they will be able to charge significantly higher prices in 2010 then they can charge now. They are mistaken. When they realize they are mistaken, they will begin developing in earnest once again. It's not greed, or arrogance, or a desire to sell only to...

<em>"When I bought a townhome in Eastside Costa Mesa in 1999, the rent was $1450. I paid $170,000. "</em> And I remember in 1998 my father's landlord offering the Anaheim condo he was renting for $175,000. His rent at the time: $1300. past ≈ future If we were seeing GRMs in...

Did anyone see <a href="http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_csmahp/0,0,0,0,0,0,0,0,0,1,1,0,0,0,0,0.html">today's numbers</a>? 3.6% drop in one month, which I believe is the largest on record for LA/OC. Things see to be picking up steam.

The devil is in the details. After reading the paper in full I'm not convinced you can directly compare their method of estimating owner-occupied rent to a GRM analysis of an individual property. An average of 230 or so doesn't pass the "smell test" in terms of other numbers I've seen the last...

Very interesting data.

<p>IRAQ-KUWAIT BORDER—As the U.S. Army's 3rd Infantry Division began its ground assault on Iraq Monday, President Bush marched alongside the front-line soldiers, bravely putting his own life on the line for his country by personally participating in the attack.</p> <p>"Bush is the real...

<a href="http://www.dqnews.com/RRSCA0108.shtm">All 6 Southland counties post double digit year-over-year median price declines.</a>

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<p><a href="http://rentals.realtor.com/rentals/search/searchresults.aspx?ctid=12221&ml=3&mnp=34&mxp=37&typ=40">How about some $800 - 900K homes?</a></p> <p>http://rentals.realtor.com/rentals/search/searchresults.aspx?ctid=12221&ml=3&mnp=34&mxp=37&typ=40</p> <p>Couln't find any that "should"...

<a href="http://piggington.com/december_housing_data">SD median home prices fall 6.4% in December</a>. No, that's not a typo, 6.4% in one month.

<p>"didn't somebody say on this blog before that the Irvine Company won't ever let the new home prices go down?"</p> <p>Really? Let's all just stop and think about that one for a minute.</p>

<p>"How can they be desperate if they put almost 100K down?"</p> <p>The market price declines more than 100K. Ta-da!</p> <p>"They still have some cushion left."</p> <p>You sure about that? Prices have fallen an awful lot in the last year. And condos (this is a condo at 530K, right?) have...

iceeman, We know you are itching to pull the trigger, and as a fellow wannebee first time buyer I feel you. But there has never been a time where it was so damn profitable to wait a little. Median asking prices in OC fell about $100K last year, and all the leading indicators say it's likely...

Like you peter, I live in an IAC complex and am noticing a lot more vacancy than I did a few months ago. It seems that they believe that demand will pick up soon and that letting them sit vacant for a while will be worth keeping prices higher on the ones that are rented. Who knows maybe they are...

Sure, 10% total peak to trough is not a collapse. But we're only talking about 2008 here. 10% in one year surely qualifies as a "collapsing" rate given how stick RE prices typically are. Do you plan on ever being a move up buyer? Or even moving into a similar, different home (think about...

"It is timing. Not the asset. And not renting vs. buying. It is timing. It is timing. It is timing." Awesome awgee. Words to live by. The rent vs. buy equation is extremely complicated and depends on all sorts of variables that are both highly personal (tax situation, need for...