I thought it would be interesting to look at the sale prices of condos in the condo complex where we rent in Downey, CA. The graph speaks for itself. Prices in Southern California were completely out of touch with reality. Look at the bubble in the early 90’s. Prices only went up by 50% and [...]
Tagged with: bubble, california, economy, Housing, prices
Posted under: Money Stuff
Back in August of 2007 I wrote this post, Someone forgot to refill the Real Estate ATM, and predicted that we would see a continued drop in prices, foreclosures would go up and so on. What I didn’t see coming was a big drop in the stock market, sharp increase in unemployment and the massive [...]
Tagged with: bubble, economy, Housing
Posted under: Money Stuff
Shared from Google Reader:
Analyst sees ‘ghost town’ in Inland Empire
Tagged with: bubble, Housing, shared
Posted under: Political Stuff
This is some the best mainstream media Housing Bubble coverage I’ve seen and it spells things out pretty clearly. If you aren’t sure what exactly is going on this is a pretty good 15 minute overview of the current situation.
House of Cards
Tagged with: bubble, foreclosure
Posted under: Money Stuff
Dr. Housing Bubble featured Downey this week in an edition of Real Homes of Genius that shows just how screwed up things are in housing right now. I couldn’t buy a house even if I wanted to and it’s not like I’m making minimum wage. As long as prices are out of touch with people’s [...]
Tagged with: bubble
Posted under: Money Stuff