California Housing Market in My Eyes

[Anothercoilgun]

Actually in California, more land is being made every day. The problem is that this new land is monopolized by the HOA Tycoons.

[hudreo]

My neighbor purchased their house in San Diego two years ago; for $145,000 more that what I did in 2006.

[Rspringscabin]

if you bought in 06 im bettin someone right now is buying 145k less than you did. The term is called catching the falling knife.

[ourearthhome]

The whole business of investing in housing with the expectation that its value will go up is totally corrupt. When real estate is bought not just for use but for investment it drives the cost (rents) up for everyone including the 50% who do not and will never own. They are permanently left out. In addition all landowners are subsidized by non-owners because the public services they pay for in taxes on earned income increase land values and, ironically, their own rents. No sympathy for injustice

[Anothercoilgun]

Totally agree. I always felt this deep wrongness in seeing houses used as commodities. Will keep this response short. Too many past the character counts I made this week.

[kng863]

What's the name of the song?

[00643981]

Banks loan money they don't have. Then they foreclose on people's property when they don't get "paid back". Don't believe me?  14th edition Encyclopedia Britannica: "Banks create credit. It is a mistake to suppose that bank credit is created to any extent by deposits of money into the banks. A loan made by a bank is a clear addition to the amount of money in the community." More dollars = inflation, a secret tax on the people. Google: "Fractional Reserve Banking" and "Federal Reserve Fraud"

[dan020350]

invite china to come to live in U.S. and make chinese the primary language

[lividmany]

Don't worry! You'll be able to sell your monster house at a profit in only about 25 years or so...

[Bostonterrier97]

Great Time for Buying, Bad Time for Selling.

[VONDUTCH92508]

Naw, maybe 5 or 7 years...

[lennyfest]

i feel bad for anybody that brought in the last 2 years , jesus there so so so screwed. they think they will just sit and wait for things to get better ,things will never get better, we got srewed by the goverment after sept 11th they new what they were doing buy making these house go insane and everybody brought ina and re fied and got easy cash and we all pumped up the usa economy after sept 11th , now things got out of hand and everybody turned there backs ,, 2001 prices coming soon,,

[aTibetLover]

I think that the Real Estate will return to 2001 price is a little bit optimistic. I think it will over correct and slowly return to 1995-1997 level and stay there for a while.

[retreads]

I'll buy your house at 50% today's price. Call me.

[ngwabass]

Drop the prices reasonably well and most of those homes will sell!

[shawnstam]

Ha Ha you dummies what did you think would happen. Owning is a house is part of the american dream, Its not the stock market. I hope the bubble bust right in there face and they go broke.

[cheezeititsthefuzz]

LOL agreed. I laugh at all those greedy people that wanted to "flip" a house when the market was halting and are now bankrupted.

[29XXX]

""Bank Owned""

[lividmany]

Don't worry! The same people who created the bubble got out in really great shape and were the ones who sold you the monster house that you will no longer be able to afford or sell...

[sunnystreets]

That's just mean!! Anyone who made money did it simply due to buying and selling at the right time. We moved out of SoCal in 2005 before the crash. I think about the family who purchased our home and really feel bad about the situation they find themselves in. Even if they don't plan to sell, the house has already dropped $150k. That's just not right. You have to be a real schmuck to dance on anyone's financial grave!!

[davidinla36]

Sunny, that was their risk, not mine. Think about all the people that were locked out of the housing market the last few years because of the insane prices before you call others a "schmuck"

[lennyfest]

anyone that buys real estate now anywhere in the USA is a fool 2001 prices coming soon buckle up ,, dont buy major declines coming ,

[damnright4]

I agree house prices will be pushed off a cliff

[lennyfest]

anyone that buys real estate now anywhere in the USA is a fool 2001 prices coming soon buckle up

[kiet619]

I have cash ready....ain't going to buy.

[LeftLiberalSoCal]

Your Radar/Laser detector is improperly mounted.

[maddohartlepool]

In the UK the ex-governor of the Bank of England basically admitted that they had kept interest rates purposefully low in order to fuel a credit boom & get house prices to rise to release equity & more credit in order to avoid recession.

There is a bit about it in my video: 'hartlepool house prices' if anybody cares to search for it to see it.

[juana4molina]

hey, why the gov doesn't complain when housing goes up? only when housing goes up? ridiculous! just cause the majority has a house... crapy

[movieman523]

Rising house prices buy votes, because people think they're getting rich for doing nothing. That's all that democratic governments ever care about, not the long-term devastation that housing bubbles cause when they burst.

This crash is going to be colossal and the effects will reverberate around the planet.

Great video, BTW.

[AASessions]

Jon,

You must have been in my neighborhood in the Woodcrest/Orangecrest area. It looks just like that.

Thanks for your great videos.

[john67elco]

I think your right as I was just passing through kinda fast. It was off of Cajalco and Wood Rd (major cross streets). The Falling down home builder sign was off of La Sierra below the 91 fwy. Thanks for the response (I hope you are renting there).

[AASessions]

Yeah, right near me. Yes we are renting. Sold our home in spring of 2006. Waiting for the right house at the right price.