The Fat Lady Has Finished Singing

[LADoc00]

The housing boom is over, prepare for FREEFALL.
its a long day living in Reseda...
Now Im freefalling
Freefalling
Ya Im freefalling
Freefalling

http://www.economy.com/default.asp

Forecasting firm projects that the median sales price for an existing home will decline in 2007 by 3.6 percent, which would be the first decline for an entire year in home prices since the Great Depression of the 1930s.

---

Members don't see this ad.

 

[The White Coat Investor]

3.6%...not exactly a freefall yet. I mean, what is that about 1 month worth of gains in California and Arizona these last 3 years?

 

[LADoc00]

3.6%...not exactly a freefall yet. I mean, what is that about 1 month worth of gains in California and Arizona these last 3 years?

Youre not seeing the big picture....a 3.6% NATIONWIDE decline would translate into a potential drop in Cali of 30%+....this is far far worse than the early 80s crash, likely will be the single biggest price decline in the bubble markets ever....I taking bets, I predict SF will lose 40% of its value over the next 3 years....Now median is 700K, look for it to hit 420K by 2009.

 

[mshheaddoc]

....a 3.6% NATIONWIDE decline would translate into a potential drop in Cali of 30%+....

whoa, where are you coming up with that? its averages ... as well as I really see a decline nationwide as a sign that the housing market has stopped and is reversing. As I keep stating, if you live in one of the "big" markets I feel for you because you are going to be the ones who feel this so-called "bubble" the most. But will it be the "big" markets that fuel this 3.6% drop?

No offense but the cali market is whack and always has been. I'd like to maybe look at things at more of a general spread rather than one particular market that skews the data.

 

[SDN]

Central valley and inland California will probably see more of a drop than coastal areas.

 

[LADoc00]

Housing correction "substantial," Bernanke urges

Bye Bye equity...everyone kiss their inflated home value goodbye and with it any equity they "imagined" they built up over the last 5 years of market insanity.

When it comes down this time, it will hurt...alot.

Bye bye home equity bye bye.

 

[LADoc00]

http://www.safehaven.com/article-5978.htm
check that out

 

[etf]

Bye Bye equity...everyone kiss their inflated home value goodbye and with it any equity they "imagined" they built up over the last 5 years of market insanity.

When it comes down this time, it will hurt...alot.

Bye bye home equity bye bye.

the only thing coming crashing down in the bay area will be your precious metals portfolio...

 

[LADoc00]

the only thing coming crashing down in the bay area will be your precious metals portfolio...

Ohhh how silly people can be...nice article this week about prices in Sacramento have dropped 17% in only 3 months, the biggest drop in Cali real estate history.

I see you little BUBBLEHEAD, etf.

Anyway who knows the bay area knows prices have driven out middle income families in record numbers...how long can a regional market survive on consumer base of gay men, single women and immigrant engineers?? They opened a new elementary school in outer sunset and less students showed up the first day than teachers!! hahahahahaha. SF is dying! 5% drop in the last census....no income gain, 9 new high rises going up in financial district=the PERFECT STORM of real estate busts...

Prediction: Average home price in SF 2006=700K, Average price 2012<300K