Housing price bottom delayed to at least 2013

Dec 27th, 2011  
by IrvineRenter  in Library News

Astute Observations

Astute Observation by Swiller
2011-12-27 11:35 AM

Well well….not many comments lately. Here’s to hoping the new year brings about yet another 30% drop in OC home prices.

Suffering brings understanding, while the suffering is not pleasant, I look forward to many more thousands of people coming to a similiar view of the U.S. and it’s economic thievery.

Laws of the land have become obscured through legalism. There are none more hopelessly enslaved than those whom believe they are free.

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Astute Observation by jimmyJoe3
2011-12-27 11:44 AM

$450,000 for a 2 bedroom condo?  Yeah….ok….not gonna see a bottom until 2050 if this is the price.

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Astute Observation by newbie2008
2011-12-27 11:58 AM

This condo has the selling point of being close to UCI, which means higher rents.

The rents can only go so low to cover maintance, tax and insurance.  If it goes below that point, time to start the bulldozers to knock down the buildings to lower the taxes and insurance cost.  Knocking down condo are harder since there are multiple owned.  Deeply underwater condo “owners” aren’t left with many options—squat and/or rent-out and then walk-away?  Non-squaters (the responsible) are left holding the bag.  Of course the govt will make the banks whole (another ilresponsible group).  Maybe it’s time to join the ilresponsible?

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Astute Observation by Strategic Renter
2011-12-27 12:08 PM

the bottom is 3x median income plus 20%. Whatever the banks and government do will only delay this bottom from being reached. Only then will house prices stabilize.

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Astute Observation by Maggie Jode
2011-12-28 07:35 AM

Ugly condo, too. Hey, I thought the bottom was in 2009 with moderate appreciation this year? At least in California. Texas is booming and so is DC.

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