Tuesday, January 30, 2007

Holy Mother of God: Declines in OC Mortgage Lending Jobs!

Can this really be happening in Orange County?
I mean, aren't real estate jobs (real estate agents, mortgage lenders, builders) a main, critical staple for the county's economy?

Holy crap, the first seal is opening....!

Thursday, January 18, 2007

Illegal Immigrants Assisted After Citrus Crop Freeze

California's day laborers, many of whom are illegal immigrants from Mexico, and who work for citrus crop industries, will be offered assistance by the state of California in the form of food programs, temporary housing, low-income energy assistance and other social services.

None shall receive unemployment insurance.

If George W. Bush adheres to Governor Schwarzeneggar's request, more federal aid may also be made available for farm workers affected by the citrus crop devastation.

OC Sales Down, Median Price Up

Home sales fall 29%, but home prices increase by 3%
How much longer can this kind of bullshit economics continue?

Usually when sales in units declines over a period, one could come to expect, all things being equal, declines in average selling price, not increases.

But anyone who has visited Orange County can tell you, nothing here is equal.

Prices will eventually come down some, but according to DataQuick's Marshall Prentice, the 100% home value appreciation experienced by OC home owners the past 5 years is "here to stay".

In other words, "soft landing" ahead folks!

Gee, aren't you glad there are independent, unbiased sources of information like DataQuick right at your fingertips?

Orange County Rents to Rise 6.9% in 2007

Just when home owners thought their misery index was rising, renters may also experience a proportionate, though probably less financially devastating, hike in housing costs.

If you're paid $2000/mo. in rent last year, that could rise to $2138/mo. in 2007, or about $2000.00 paid over 12 months.

Is an increase in rent better than the risk of borrowing money from a bank to "own" a liability (home or condo) that will likely declining in value over the next several years in OC?

Wednesday, January 17, 2007

Orange County Housing Crash Over?

Sure 2006 was an "interesting" change up year for housing in Southern California.

But there is no housing crash people.

Not happening.

Here's the deal: The minute someone can prove that home prices are truly declining, then you can say there's a housing crash in Orange County.

Inventories of homes for sales continue to rise.
Orange County median home prices are UP 3% YTD January 2007 to $642,000 per home! That's an average price for a shack to live in folks.

A housing market correction?

Yeah, right.
This is the OC.
Nothing to see here.

After the corrupt real estate industry complex (home builders, real estate agents and mortgage lenders) in southern California are done laughing there asses off, they start shouting "bullshit!, bullshit!" at the top of their lungs.

Thursday, January 11, 2007

Got $212,000 Annual Salary? OK, You Can Live Here.

More encouraging news for renters in Orange County, California.

John Lansner of the OC register reports on his blog that, hey, you only need a measly $212,500 annual salary to properly afford a house here!!

$212,500??!! Well, stand back and let me pull out my check book!!