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nirvinerealtor, I'm confused. How did you arrive at the 12% figure? What are the comps from late 2006?

A few months back Wall Street Journal did <a href="http://online.wsj.com/public/article/SB117142055516708035-O6WPplch_duU0zq_zhjQaI19vIg_20080214.html">this study</a> on zestimates. They found the median difference between zestimate and actual selling price was 7.8%. However they also found that...

<p>"I think a lot of the condescension towards housing bulls stems from the fact that the housing market has done so much better for so much longer than most bears predicted."</p> <p>There is probably some truth in that statement. As a bear myself I am willing to admit that the extreme...

<p>How about this?*</p> <p>There has been a nationwide housing bubble, but to a large extent that bubble has masked genuine fundamental increases in value in certain parts of the US, including coastal OC and LA, NYC, and possibly Miami. Home values will continue to hold up and even increase in...

It would really be refreshing if it this turned out to be a signal from the NAR that they are going to stop their tired championing of home prices. This really would be in the best interest of their members. As we have seen over the last 2 years (or you can find by reading a basic microecon...

<a href="http://losangeles.craigslist.org/sgv/rfs/318278781.html">http://losangeles.craigslist.org/sgv/rfs/318278781.html</a> COMPLETELY REMODELED 3/2 house located in the horse haven area of the Altadena Foothills. <a href="http://www.google.com/search?q=Inconceivable">MARKET...

Here is an interesting <a href="http://www.nytimes.com/2007/04/11/realestate/11leonhardt.html">NYTimes piece</a> addressing this very question.

1) Tax write-offs are not free money. They are a discount on the amount you pay to borrow money. If you rent, you don't get the discount because you are not spending the money at all. It's kind of like saying that you should buy something because it's 30% off. Sure, it's nice to get something on...

Can we make this the cool video thread? Someone plotted the 1890-present Case-Shiller home price data as a <a href="http://www.youtube.com/watch?v=kUldGc06S3U">roller coaster.</a>

Seems that there is no such provision. http://www.globalgoldtalk.com/taxes/51190-lost-deposit-forfeited-deposit.html http://answers.yahoo.com/question/index?qid=20070327162940AAyj73B My life for Auir.

What is the Bren tax?

"Bottom fishers!!!" YESSS!!! Priceless. Best old school bubble article since <a href="http://query.nytimes.com/gst/fullpage.html?res=9D04EEDA153BF934A2575BC0A967948260">these</a> <a href="http://query.nytimes.com/gst/fullpage.html?res=9E05E3D71538F93BA35751C1A962948260">classics</a>.

iceeman, If you want to know where the bottom is, then you should really pay attention to rents. Owner-occupied and rental homes are <a href="http://en.wikipedia.org/wiki/Substitute_good">substitute goods</a> and their prices are strongly linked. Think about it - the most expensive places...

<p>"Homes that were renting for $2,200 in 2002 is going for $4,000 in 2007."</p> <p>I call shenanigans! There is no way that example is even close to representative. Show us the data.</p> <p>iceeman,</p> <p>It sounds like you should buy iff you disagree with the prediction that prices in...

<p>finally buyin,</p> <p>It looks like you got a smokin deal compared to the resale market. Why do you feel like you are screwed if prices go down? It sounds like you are happy with what you got for your money.</p>

Don't know for sure, but I remember hearing that somewhere too and it turned out to be false. It may come from the fact that <a href="http://www.icha.uci.edu/groundlease.htm">some areas</a> near the university are subject to resale control to keep them in the UCI community.

<p>OC is about 1% of the US population. 1% of 1.1 million is 11 thousand. Total OC home sales in 2006 were 35728.</p> <p>Non-trivial indeed.</p>

<p>IrvineRenter,</p> <p>I don't get why specific detailed practices / guidlines are unenforcable. Aren't the insurance, accounting, and financial consulting industries highly regulated in this manner? As someone with experience in the field why don't you think similar regulations would fly in...

<p>I think that getting rid of high DTI and exotic loans altogether is a bit too draconian. There are legitimate reasons for people to spend more than 3 times their income. One example is a young professional who expects her income to grew substantially in the future. Another is a guy who never...

<p>"I watch Irvine because it's the ultimate 'declines will never happen here' city"</p> <p>That's why I love this thread. It's a great example of the fact that places like Irvine do not have to self-destruct in order to see massive declines. All it takes is a little healthy competition. Look...