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The ultra-low interest rates lasted until December 2021 and inventory bottomed two months later. Inventory is not suppressed - It's 96% higher than it was two years ago after bottoming out. It's just that ultra-low interest rates caused inventory to get so depleted, that it's going to be a...

Active listings are the highest in four years, and price reductions are the highest in eight years for the month of March. But poor IHO predicts the recent spike in mortgage rates will lead to less inventory. Home Sales Clobbered by Mortgage Rates. New Listings & Active Listings Surge. Most...

Rapidly increasing rates caused Irvine to decline in 2013-14, 2018-19 and 2022, but I'm sure this time will be different. tic, tic, tic..

Rates went from low to ultra low, and so did inventory. Now rates have been increasing for 2+ years and so has inventory. Your chart proves that, which disproves your prior assertion about higher rates suppressing inventory earlier in the thread. Irvine did worse than the national market in...

Rates were only ultra low starting with the grey bar in 2020 and lasting until the end of 2021. Which as you can see is when inventory also got ultra low. Inventory has been recovering at a rapid clip ever since, even with rates tripling from their recent lows. Going back further, rates were...

We've already won the battle. Inventory is up 24% vs. last March and up 96% vs. March 2022 when rates first started increasing rapidly.

Another day, another 1/8 of a percent

So it was big news that realtors have finally been held liable for ripping off home sellers with their shady practices. In effect, realtors have been acting as a cartel by coercing sellers to pay the buyers' commissions. We all know that if you offer a 0% buyers commission, the realtors...

In Irvine, it's often said that an empty home is the best neighbor you can have. State Farm should update their jingle to reflect that.

Delving inside the inflation numbers, many components are clearly accelerating to the upside, including the Fed-touted "supercore" services number that excludes shelter-related prices. As Apollo Global Management chief economist Torsten Sløk noted to clients, the year-over-year change in...

It's actually much more likely they would suffer a hate crime living in California than in Georgia, statistically speaking. California has 4x the population, but 13x as many hate crimes due to Sexual Orientation according to the US Justice Dept. https://www.justice.gov/hatecrimes/state-data

The world's most famous driver of a Bronco, OJ Simpson, has sadly passed away.

Oh, I think it will. The odds of recession just got higher as a "soft landing" depends on rates going lower before unemployment spikes in a big way.

Biden On Arizona Abortion Law: "Elect Me, I'm In The 20th Century" https://www.realclearpolitics.com/video/2024/04/10/biden_on_arizona_abortion_law_elect_me_im_in_the_20th_century.html

Guess what is leading the charge for higher inflation?

Ouch!

What is it with targeting specific industries with a minimum wage? Fast food... ride share... In the old days, at least the minimum wage was broadly applied to all workers.

That assumes there will be 3-4 people with steady incomes. Just looking at the unemployment chart for OC I wouldn't feel too confident about that going forward.

Keep in mind, you are posting the seasonally adjusted charts. Without those seasonal adjustments, LA doesn't look like it has "a little more upside" because the peak was May 2022 and it has not yet surpassed that. All of these Case Shiller charts seem to tell a similar story of a double...

San Francisco, Seattle, Portland, Denver, and San Diego are also down from their respective peaks, some by double digits. These were hardly covid friendly areas, but rather tech hubs / hipster areas that have taken it in the shorts.