were prices cut by that much even in 08?
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Is this a good time to buy?
- Thread starter EatatAnteaters
- Start date
NEW -> Contingent Buyer Assistance Program
Wow... you went from "thousands of foreclosures that were profiled in IHB" (impossible by the math) to thousands who lost their homes but still did not include the comparison to other OC cities.
And by your answers, I can tell you were leading the prompts to favor your opinion.
Let's put this to the test:
During the Great Financial Crisis (2007-2012), what was the percentage of homeowners who lost their homes in Orange County, ranked by cities?
(see no bias, no mention of any specific city and starting a new chat):
ChatGPT:
Tier 1 (Highest ~5–10%+)
But I want to find something to match your Irvine numbers so here is Gemini:
So like I said.. compared to losses for other OC cities... the picture is not as sad. 7% during a financial crisis... that's your doomsday?
Even your own post (using Irvine as a baseline) said:
What was that? OUTPERFORMED MOST OC CITIES!
See you in a month or so.
Liar Loan
Well-known member
Please post it. It's an open forum. But this is what happens when Irvine prices don't go anywhere. They blame the guy sharing the data.
irvinehomeowner
Well-known member
Like I said thousands of homes lost.. Sad really.
Final Estimate — Total Irvine Homeowners Who Lost Homes
During the Great Financial Crisis (≈2007–2012):
Category Estimated Homes Foreclosures ~1,850 – 2,000 Short sales / other distressed ~2,000 – 2,500 Total distressed home losses ~3,800 – 4,500
What that means in context
- Irvine had roughly 70,000–80,000 housing units at the time
- So:
~5% – 7% of all Irvine homeowners lost their homes
Wow... you went from "thousands of foreclosures that were profiled in IHB" (impossible by the math) to thousands who lost their homes but still did not include the comparison to other OC cities.
And by your answers, I can tell you were leading the prompts to favor your opinion.
Let's put this to the test:
During the Great Financial Crisis (2007-2012), what was the percentage of homeowners who lost their homes in Orange County, ranked by cities?
(see no bias, no mention of any specific city and starting a new chat):
ChatGPT:
Approximate ranking by % of homeowners who lost homes (2007–2012)
Tier 1 (Highest ~5–10%+)
- Santa Ana
- Anaheim
- Garden Grove
- Rancho Santa Margarita
- Lake Forest
- Fullerton
- Orange
- Tustin
- Costa Mesa
- Westminster
- Irvine
- Mission Viejo
- Huntington Beach
- Yorba Linda
- Seal Beach
- Corona del Mar / Newport Beach
- Laguna Woods
But I want to find something to match your Irvine numbers so here is Gemini:
| Rank | City Tier | Est. Home Loss (%) | Primary Driver |
| 1 | Santa Ana | 14.8% | High subprime loan density; severe price drops. |
| 2 | Anaheim | 12.2% | High volume of "starter homes" with low equity. |
| 3 | Garden Grove | 11.5% | High concentration of "underwater" adjustable-rate loans. |
| 4 | Westminster | 10.1% | Significant short-sale activity in mid-market neighborhoods. |
| 5 | Aliso Viejo | 9.4% | Newer developments with high loan-to-value ratios. |
| 6 | Irvine | 6.2% | High volume, but buffered by strong corporate demand. |
| 7 | Huntington Beach | 4.8% | Divergence between inland (high) and coastal (low) distress. |
| 8 | Mission Viejo | 4.1% | Stable owner-occupancy with fewer subprime loans. |
| 9 | Laguna Niguel | 3.5% | More conventional financing; higher initial down payments. |
| 10 | Newport Beach | 1.8% | High equity and cash-heavy market; mostly insulated. |
So like I said.. compared to losses for other OC cities... the picture is not as sad. 7% during a financial crisis... that's your doomsday?
Even your own post (using Irvine as a baseline) said:
What was that? OUTPERFORMED MOST OC CITIES!
See you in a month or so.
But you posted the data from 2024-2026 for a very specific reason right? I was just curious if data from 2016-2026 would also help make your case? If it helps your case you can gladly post it? And no response to my comment last week in the 2026 happiest cities in America post. Wonder why?
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woodburyowner
Well-known member
Didn't most people who "lost their home" during the GFC make out like bandits? They typically put 0 down, refinanced more money out (hundreds of thousands), stopped paying, lived in the home for an additional few years without any payments and then "lost their homes". And to top everything off, the IRS let these homeowners exclude that forgiven debt from taxes during this period.
EatatAnteaters
New member
Thank you all for the deep discussion. My husband and I are just a normal couple who live on pay checks and need a loan. We like how clean Irvine is and are also planning to have kids. At the same time, we are also thinking of other cities around Irvine.
irvinehomeowner
Well-known member
Honestly, Irvine real estate is very high. If you don’t have to buy in Irvine, you can get more for your money in surrounding cities. The one advantage is Irvine has more newer/brand new stock than other cities.
Since you don’t have kids yet, maybe start renting in places you would like to settle down (although Irvine rent is also high).
I don’t know how this maths out with today’s pricing and high interest rate but not sure you can get a mortgage on a small place and trade up. It’s not the same as before unless as I’ve said you can afford the higher prices in Irvine.
Back when rates were lower or prices were lower, it was okay but today with prices and rates high everywhere, you really have to look at affordability and stability.
Since you don’t have kids yet, maybe start renting in places you would like to settle down (although Irvine rent is also high).
I don’t know how this maths out with today’s pricing and high interest rate but not sure you can get a mortgage on a small place and trade up. It’s not the same as before unless as I’ve said you can afford the higher prices in Irvine.
Back when rates were lower or prices were lower, it was okay but today with prices and rates high everywhere, you really have to look at affordability and stability.
