[quote author="graphrix" date=1254497199][quote author="RoLar_USC" date=1254495797][quote author="graphrix" date=1254493813][quote author="RoLar_USC" date=1254492951]"The analysts didn?t forecast home prices. The Barclays analysts including Glenn Boyd, who earlier this year wrote that once it starts, the housing recovery will be dulled by a ?pent- up supply? of homes from owners who have put off sales during the slump, this month predicted <strong>8 percent further depreciation</strong>."
Wasn't everyone saying that declines were going to be 15, 20 and even 30+%?</blockquote>
RE is all about local or the micro economics. Yes, nationally we will see about an 8% decline from here, maybe even 12%. In OC we will see even more. What goes higher than national and per income crashes harder than national and over-corrects for incomes. Honestly, go research the 90s housing market. Wash, rinse, and repeat.</blockquote>
I'm just saying that's a pretty significant difference, not to mention that's Orange County. What will happen to inland california? 60-70%?</blockquote>
Okay... basic math comes into play here. The IE has already seen declines of 40%-50%+++, OC... especially the nice parts has seen 20%-30% declines. Mmmm... who is closer to incomes? Yup, the IE. Fundamentals my friend, it all goes back to fundamentals.
BTW, did you research the 90s bust yet? I'm waiting for your the "defense sector bust" caused the collapse response. When really it was a "credit infused bust" that caused the collapse.
Did you see the home I posted in Hillcrest? Priced below "89" prices in nominal terms and priced below "96" real terms. Get used to it. There is only more of this to come.
What were interest rates like in 93? What were they like in 95 and 96?
Answer the questions Robert.</blockquote>
Hillcrest property - Have you seen an inspection report? Is there mold or structural damage? There's clearly termite work needed to be done, but it's unclear how much. Anytime a property say that it needs work in the description, it REALLY needs work. Even more interesting is the fact that it has fallen out of escrow 6 times... Sounds like there's some pretty big issues going on with the property. Maybe I can find a property that has fire damage and compare it's price. At least compare land values, or BETTER YET! actually use averages
Who asks a question, and then immediately follows it with "Answer the questions." All I see is one question after another, what are you even saying?
Here are your answers:
1) Yes.
2) Between 6.9 and 8.1
3) Between 7.2 and 9.15
4) Between 7 and about 8.3