Irvine Housing Blog

I forgot about the bass boards!

You definitely have your talking points down.  Tell your supervisor to give a you bonus!

The malls ARE crowded - They are full of people that know nothing else to do. People in O.C. have become programmed over the last 10 years that if it’s the weekend, it must be mall time.  I watch these people and they go, they hang out, they wander through the stores, and they leave…..empty handed.  Go to South Coast plaza and notice the huge amount of people in the common areas - Then go into a high end boutique and you will have the place to yourself.  We have been programmed to consume so even if we can’t put something in the offering plate, we still go to the house of worship.

“We have been programmed to consume so even if we can’t put something in the offering plate, we still go to the house of worship.”

Great analogy.

With such nice weather for the past month, it’s surprising that I don’t see more people doing outdoor activities. I spent the past few weekends at the beach with my kids, playing in the sand, throwing balls/frisbees around, flying kites, and even a little swimming in the 57 degree water. When I wasn’t at the beach, I had them out on hikes. FREE ACTIVITIES that don’t require much effort; it’s even better when we pack our own lunch and snacks and eat picnic style.

I despise malls or any other commercial shopping center. I only tolerate them when I *need* something.

I wonder if the vanity plate “MALL H8R” is taken?

That’s fantastic news, Phoenix must be similar to Irvine with current prices the same or greater than late 2008 prices.  it’s nice to know AZ has some areas that are doing well 5 years into the “crash”

Indeed - the lines at the Fish Market and P.F Chang’s prove it.  Clearly Phoenix was spared the “crash”.

PR -

I can totally see you hanging out at a place named “Irvine Spectrum”.  The name suits you perfectly.  I might even suggest that you consider using it as your IHB name at some point.

Despite his denial, I am 99% certain that PR is a loan owner in Irvine.  This is just another way to justify to himself that buying that overpriced Irvine crapbox was a smart financial move.

The Fed and FCBs will save Irvine…just keep telling yourself that PR.

Have you seen the 10yr note today!  This won’t bode well for housing prices.

Sure, keep telling yourself that.
Meanwhile, the demand for new product in Irvine continues to outpace supply despite the “economic downturn” and interest rate volatility.
Who’s buying all these new homes?
The Lucky Charms Elf and the Easter Bunny

the demand for new product in Irvine continues to outpace supply

What a catchy statement, tenmagnet.  Did you generate it from one of those Corporate Bull$hit phrase generators?

Here is one that I just generated to add to yours:

“credibly customize high-quality niche markets”

Yeah, Dave
Kind of like the homemade B.S. generator you use when someone mentions they bought.
“Irvine is not Different”
“What new home sales?”
“You will lose your shirt”
“The 10-year Treasury at 3.64% will ruin everything”

Careful there, the authorities forbid wanking at Irvine Spectrum.

@Vincenzo:

Really? Have you been at the Spectrum on weekends or Friday nights?

Interestingly enough, during the boom years, the Woodbridge Dollar theatre didn’t do so well (changed ownership two times I think).

But that doesn’t mean no one is watching movies at the Spectrum. Costco makes those movies less than 8 bucks… and there are tons of those in Irvine.

Interest rates are actually going down no matter what you say; PR and tenmagnet have assured the blog..

@AZDave:

Easy now… posters on this blog also “assured” that interest rates would rise considerably and the gov would not be able to interfere with the crash.

True, but PR has been gleefully gallivanting around the blog boasting of his past calls with tenmagnet right there cheering him on.

On 12/24/10, PR stated that “Nothing has changed, rates will continue to break record lows”

Then ochomehunter stated that he expected to see 2% interest rates at some point in the future to which PR replied “100% agree”.

It certainly seems like rates are heading in the opposite direction,  but we still have a ways to go.

10-year yields finished the week at 3.65%.  That’s up 32 bps (or a 1/3 of one percent) since last Friday’s close.

Cancel the Super Bowl

Between Shawn Green dropping the price of his house to a paltry $10M and the 10 year tbill at an apocalyptic 3.6%, we should cancel the Super Bowl.  Lee needs to celebrate all of this earth shattering news devastating Irvine.

What’s next, are Lee and Dave planning to boycott the Irvine Spectrum?

Yes, i am boycotting.  No more weekend getaways to irvine spectrum for me.

If rates increase 250-300 bps this year, it will hurt affordability significantly.

Think about that.

250 to 300 bps is actually quite tame considering the fact that the Fed presently has pegged the discount rate at “0” percent (WTF), and we’re now well into QE2 (WTF).  I personally think we could be looking at perpetual QE ... it just kinda becomes part of the American economy.  Print as much as you need to keep assets from falling.

Just think everyone, we’re gonna see a reduction as a percentage of our HH budget going to shelter (mortgage & rent), but most, if not all of that reduction is gonna be absorbed by additional cost, not yet realized because morons are in charge of monetary and fiscal policy.  Morons don’t want us to save, they want us to consume, and anything left over, they want to tax-tax-tax!

I hope everyone understands that The Feds and the US govt is setting this country up for another financial crisis.

Excuse me, but you’re shocked to discover that the US is a consumer culture? The economy, not to mention political system, is based on perpetual growth. With accelerating growth being the Holy Grail. Just try imagining a city planning to maintain its current size, much less to shrink. It just doesn’t compute.