Irvine Housing Blog

“I wonder if you can pick up any good cashflow properties there now that prices have crashed?”

If you’re patient and you do your homework, like Senator Dodd, the sky is the limit.

http://online.wsj.com/article/SB124545642440632999.html

Irvine Inventory

821 = 3/17/11
545 = 3/18/10
786 = 3/18/09
919 = 3/16/08

Homes like these sold for $300k in 1999.

Even with 9 Springbuck at $488k, that’s still 40% away.

Irvine has a long way to go to hit AZDave’s benchmark.

Course correction time:

Does anyone still think Irvine will hit $200/sf? I think even IR modified his to $275/sf.

You write: “Savings will provide the internal capital for Ireland to prosper again.”

I respond that I do not see Ireland propering ever again.

In my blog article … European Financials Fall Turning The Euro Lower … As Exhausting Quantitative Easing Turns The Nasdaq, Technology And World Shares Shares Lower … I relate European shares, VGK, fell 3.1% lower on falling European Financials, EUFN, -3.6%.

The falling European Financials turned the Euro, FXE, 1.8% lower. Germany, EWG, -3.6%, Italy, EWI, -4.3%, Spain, EWP, -4.1%, The United Kingdom, EWU, -3.2% and Sweden, EWD, -3.1%.

Competitive currency devaluation is now underway as the US Dollar,$USD, is rising and most all currencies except the Yen and the Franc are falling.

The failure of quantitative easing is specifically seen in the trading lower of the distressed Fidelity mutual fund FAGIX, which approximates the value of the US Federal Reserves’ assets taken in under TARP, and which together with Excess Reserves, serves as the basis of Neoliberalism’s seigniorage.

Today’s rising Dollar is evidence of quantitative easing failure and also the end of neoliberalism.

Junk bonds, JNK, manifested massively bearish engulfing today providing even more evidence of the failure of neoliberalism’s seigniorage.

Failed neoliberalism means there will not be economic growth.

Failed neoliberalism also means the world is passing into The Age of Deleveraging which will be characterised by inflation destruction, debt deflation, credit ill-liquidity, instability, economic contraction and austerity.

The European Leaders are effecting a bloodless political economic coup which draws out an important concept that the rule of the sovereigns replaced neoliberalism and democracy in February and March of 2011.

The rule of the sovereigns is now the governing political and economic regime and construct.

Neoliberalism was the political and economic regime that governed mankind from the time that the Free To Choose economic theory of Milton Friedman replaced the gold standard in the early 1970s, to the exhaustion of Ben Bernanke’s quantitative easing 1 and 2 on February 22, 2011, which was reflected in the fall in value of the distressed securities, which underwrote quantitative easing, and which are approximated by the Fidelity Mutual Fund FAGIX.

It was on February 22, 2011 that the value of FAGIX, and world stocks, ACWI, both fell lower.

Under the rule of the sovereigns, leaders meet in task groups such as the Pact for Euro, that is the Pact for Competitiveness, to develop Framework Agreements.

Then leaders meet in summits to formally announce Framework Agreements, which set forth regional political and economic governance which replace treaty, constitutional and historic rule of law. The Leaders’ Agreements waive national sovereignty. One is no longer a resident of a sovereign nation state; rather one is a resident living in a region of global governance, as called fro the Club of Rome in 1974.

Government minsters and business leaders appoint stake holders who effect the mandate of the leaders which promotes global corporatism, that is combined state corporate rule. Policies are enacted which promote the security and prosperity of corporations, and enforce austerity for the people.

Neoliberalism and democracy are replaced by the rule of the sovereigns, where the word will and way of the leaders is law.

The European sovereign crisis will intensify, and out of Götterdämmerung, an investment flameout, a Sovereign, and a Seignior an Old English term for top dog banker who takes a cut, will emerge to establish a common EU Treasury with fiscal sovereignty, as well as a new seigniorage replacing the currently failing US Federal Reserve’s Quantitative Easing seigniorage; and the Bank of Japan’s failed Yen Carry Trade seigniorage.

These two will assure the security and prosperity for select corporations while providing austerity for all people. Global Corporatism and the Rule of the Sovereigns will replace Neoliberalism as the world’s economic and political regime.

Banks will become even more integrated with government; and leased property living like that presented in the 1973 movie Solyent Green will be the norm

I guess I wanna hear from those who insisted that inflation can not occur without a concurrent rise in wages.