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Perhaps we should redefine the bottom in terms of carrying costs in order to adjust for the impact of interest rate fluctuations.

I love it when awgee pulls the race card! My wife is mexican, correspondingly so are my kids. As for the innaccuracy of my statement, I will take some photos with my phone next time I drop by fashion island. I assure you my description is an accurate assessment of a common Newport...

That is a great book. Big fan. Bigger fan of Baruch.

Conforming rates WILL be between 6 and 7% in Q3 and Q4 of next year. Jumbo + 100-200 bps. Rates are roughly 5% now, while the Treasury curve is artificially held down, and the MBS spread is artificially narrowed. I figures 1-1.5% rise in rates is very reasonable given the sunset of the...

On interest rates staying low forever, and the impact on the housing market, we have an obvious example in Japan. Property valuation there have NEVER recovered despite morre than two decades since beginning of the crash, and near zero policy rates and sub 2% mortgages. So to answer RobLar's...

Thanks for the response and honesty. I must disagree with your view that current sales are indicative of a stable markets. Your analysis assumes past is prologue, and ignores fundamental drivers of housing prices. The biggest single driver at present is RECORD low interest rates that are...

I think the point that there will always be home sales is an important one. As I mentioned previously, I would probably be buying a home right now if I could afford something I liked. Though, in fairness, if I wasn't 99.97% confident the prices were going to fall I would probably be far more...

Its a very simple, question. I am guessing by your evasiveness that the answer is No. Proceeding on that premise (and lacking any indication otherwise), the natural follow up question is, Why Not? There are two possible answers (1) because you can't afford one you like and are hoping to...