Irvine Housing Blog

Love the new video. It was only a matter of time until someone skewered it.

Fortunately my wife didn’t pressure me when I told her the consequences (ie. she couldn’t go shopping).

That is one of the largest floor plans in the College Park neighborhood.  My, how the mighty have fallen.

I wonder if that 2006 buyer was actually making $250k+ a year to have qualified for that property in the first place!

That pricing history is pretty drastic, too.

Nearly $100K lopped off the price in just a month.
Is that monopoly money?

Have you already used U2’s ‘Desire’?  Using the same adjective repetitively doesn’t make it apply more strongly.

From the point of view of a non-Californian with family in south Florida, I see this house as worth in the 300k-400k range, taking 50% off peak.  Are there really that many jobs in OC that pay twice as much as comparable jobs in the rest of the country?

IR, How about The Smith’s “How soon is now?” when we finally get to the are-we-at-the-bottom discussions?

If the property’s so great, how come no pictures except for the two long shots of the house? There’s always something fishy when the property is sold as is and there are none showing the

“Cathedral ceiling. Granite counter tops in kithen and bathrooms. Cabinets throughout. Custom shutters, built-ins and much more.”

What an ugly neighborhood, looks like someplace in Riverside. Oh, no wonder… it was built when Barack Obama was about 12 yrs old.

“...There are likely many people losing sleep over their losses in real estate and the stock market while simultaneously worrying about their job…”

Surprisingly, I’ve accepted that my house has lost 20% of its value and could fall 20% further. I’ve been able to rationalize my stock losses quite well too (3 decades til retirement).

But I am worried about a job loss and think about it constantly. It’s not that finding another job would be difficult in my situation; it’s that it could result in a 30%+ salary difference (to the downside). That worries me more than anything else by far.

Good thing we didn’t reach when we bought - Bless the maxim “Spend less than 2.5x your income on a home.” A cushion is a necessity.

Great post IR! Why don’t the captions come through when I download it? I’ve tried on two different PCs and neither one will do it. Liability reasons?

I heard a wise man say that many women today look for a fool like the one shown in the vid to marry and then dominate. I personally know of more than a few couples that fit this description. What usually happens as a result is financial hardship when the guy just doesn’t bring home enough bacon to satisfy her lifestyle fantasies. She either cheats or gets some business going on her own. Either way the sex isn’t very good

“A sale at this price represents a 24% discount from the peak.”

Yet, but isn’t that the psuedo-inflated discount?

Is it really a discount if the price peak of 05/06 was caused by all the factors IR says in his book and the analysis on this blog?  I have a hard time with understanding the prices of homes here in California being a transplant.  It’s almost like everyone here lives on another planet thinking their 3bd/2ba home is worth $400-600K.  There’s such absurdity that still exists even post-bubble, I can’t digest it.

When will Sellers start to wake-up from this ludicrous dream?

“When will Sellers start to wake-up from this ludicrous dream?”

When they are forced to.

Personally I think women today love to bury their husbands in debt because it keeps them at work all day

My wife does not want me to work, too much, just a little, part time. Otherwise my hands get rough and my charming disposition degrades.
But then again, my MIL is in the Guiness Book as “worlds tightest woman”- she is still pinching pennies while we’re all stretching dollars. Her daughter, my wife, wants to slip right into Mom’s spot when she retires. She’s really a sweet girl- nothing makes her mad except paying interest.

Either way the sex isn’t very good

Guessing who will initiate the murder-suicide is much more fun. It’s usually the man. Traditionally, it’s his job.
And oh,boy, will we see “emacipated minors”. Guess you guys don’t remember the -ties huh?

Thank God Obama will be, God Willing, elected on Tuesday. We may start to clean up the mess.

Just wait till we get a good financial and legal accounting for the last eight years. You will be amazed at how thoroughly the US was looted.

34% off huh? Only 16% more to go! Considering prices basically doubled, we’ll only need a 50% reduction to get to normal.

Then we start watching the ‘undershoot’...

Now this listing is off the market?

I took a huge dump on all your houses and mortgages you stupid buttwipes…