Doctor, I have a bad case of Schadenfreude

I re-read this article today from Dr. Housing Bubble again. If you're considering buying a home in Orange County California, I highly recommend it to you.

I think it's interesting to consider such an article when laid next to the very recent views (January 2010) of realtors like this one, who has stated he believes that home prices will increase 7.5% in Orange County in 2010.

I'm not saying prices won't increase by 7.5% in Orange County. However, given the long laundry list of suspiciously errant opinions on the direction of the housing market in California over recent months, I think the Orange County register needs to demand evidence and facts, not just subjective stated opinions of realtors. I don't care if a realtor has been in his/her profession for 17, 20 or even 2 years. Answering the "what" question is not good enough. Let's start demanding that the "why" questions be answered as well.

What evidence suggests to us that the Orange County residential housing market will increase by 7.5% in 2010? I just don't see it.

2009 Realtors Say: "Fence-sitters, Your Wait May Be Over!"

Realtors have no shame. They are completely out of touch with reality.

"It's a great time to buy a house!"

Yeah, but not because it's right for me or a good future investment. It's always as great time to buy a home (even as prices fall like a rock) because that's when you get your 6% commission check.

"They said we should wait."

Millions of Americans were convinced to buy a home in order to "get in now while you still can", "there not making any more land", "buy now, you can always refinance". Realtors continued to find greater and greater fools as the Ponzi scheme built itself up higher and higher. They cashed their commission checks and still managed to face themselves in the mirror every morning.

"I want one, Mom!".

Jesus Christ! Trillions of dollars of paper wealth have been destroyed forever in either home values, or 401Ks in just 18 short months. One might think that the National Association of Realtors could propose something a little less along the lines of "childish greed" in their television commercials.

We have enough overgrown children already who have proven incapable of reading their own signed mortgage contracts, thanks very much all the same.

No, the NAR wants you to get off that fence and buy, buy, buy?

Why? For future investment wealth?

No. Because they want their 6%.

The sooner the investigations begin, the better off we will all be.