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Exactly.  Because affordability is at the extremes, home prices will be sensitive to interest rates.  In this climate, it does not make sense to discuss home prices independently of rates.

just another anomaly.  Nothing to see here.  :o

The difference between you and Steve Thomas is that he actually has legitimate data and numbers.  Oh wait, you dont believe in data and numbers. 

Just seasonal ya know.  200-400K off previous sale price is normal seasonal variance right?  :o

Spoken like a true realtor.

I actually agree with you on this.

You talk as if rates and prices are not related.  The fact that rates went down is probably the main reasons why prices didnt fall even further than it did.  Thank lower rates or you would have probably seen a 10% drop by now.

In this case, it is literally poison. 

You know that crazy people dont know they are crazy, which is why they are crazy.  Im not calling you crazy, but I would just switch out "crazy" for "delusional" for you.  That my friend was an insult.  My previous comment was just my response to your insults. 

How did we prove your position?  LOL  youre funny.  BTW 5% price decrease and 1% drop in rates equals at 16% affordability difference.  Does that still confuse you? 

Finally you concede that there was tremendous saving buying now vs one year ago.  What you clearly still dont get is what is seasonal and YoY.  The price drops we have seen are YoY, not seasonal.  And no there is no such thing as 15% historical seasonal price drops.  Do you even believe what...

I supported Eyephone because he was spot on and yes I agreed with him.  In no way did I ever try to hedge my opinions, which unfortunately I cannot say the same for you.  If people read my earlier posts, I think everyone knew where I stood.  You on the other hand, were the one who constantly...

I love how you like telling half truths.  Yeah I said Irvine was slowing down because it did slow down.  Does anyone actually refute that Irvine slowed down?  However, I do take objection to the statement that I was recommending people wait to buy a home.  You had issues with others telling...

What is your APR for this loan?

I would have to disagree here.  If there is a Chinese sell-off, places like Irvine are exactly where we will feel it.  Where have and where do all the Chinese own homes?  Irvine, Arcardia, Walnut, etc.  Because of the high percentage of Chinese ownership in these cities, your argument does not...

Less than 1%?  LL has repeatedly shown you prices dropped more than that even our inhouse realtor (USC) says something to the tune of 5% or so (correct me if I am wrong).  Furthermore, look at the costs of a house now vs last year.  Price is one part of the equation, but one must consider rates...

Everyone knows its slowing down.  its just a matter of how much at this point.

There is probably not many people who felt buying a house in 2006 was a good idea.  As I mentioned, many people have just now recouped the value of their homes 13 years later.  Nomimal prices may have recovered but inflation adjusted, they are still way behind.

I dont, but do a simple google search and it should be easy to find. 

Im sure all those who bought in 2006 think its better to own than rent.