Archive for the 'housing 2011' Category

The foreign buyer argument –Cerritos California has 82 percent of households listed as homeowners. Median income of $82,000 does not support city median price of $540,000. If it did, you would not see homes falling by $231,000 in a few short years.


The California contradiction – Record high unemployment and highest home prices in the nation. Share of Californians employed at record low levels and July home sales forecast dire home price cuts moving ahead. During bubble years July home sales came in at over 60,000 for the month while last July they came in at 34,000.


Shadow inventory Armageddon – Foreclosure timeline up to an average of 599 days with 798,000 mortgages having no payment made in over 1 year and no foreclosure process initiated. Shadow inventory grows to over 6,540,000 properties.


Manhattan Beach 800 square foot home sells for $870,000 in 2007 and now chases market down. Refinancing proposal will not save housing because shadow inventory and bank accounting chicanery is true problem in our economy.


« Previous Entries
Next Entries »

By Month:



By Category:

© 2016 Dr. Housing Bubble