Mr Mortgage-CA Housing Crisis - Currently 4.25 Years Supply!

[IDFSpokespersonunite]

Very informative thank you

[RingsofMediocrity]

we will fallaten out like a pancake. 5 to 7 years of flat prices will be our curse

[SimpleSys]

Japan had 15. With the imigration retraction / lack of speculators it could happen here. Ill keep selling people REITS.

[MoeBedard]

THE HOUSING CRISIS HAS DEEPLY EFFECTED CALIFORNIA AND OUR BEAUTIFUL COUNTRY THAT THOSE WHO CAME BEFORE US MADE FOR OUR Safety. FOR EXCLUSIVE LEAKED UPDATES ON THE HOUSING CRISIS AND A CHANCE FOR HOPE CHECK OUT MY CHANNEL.

-GOD BLESS AMERICA

[brent85243]

Cali needs a large earth quake. That will help with the surplus

[COUNTCARDULAR]

the investment banks are vacuming up all land and assets. 300 banks predicted to go bust in 09.. total economic collapse on horizon, dollar is on life support. south east asia is holding onto it for dear life, as soon as they let go, boom hyper inflation!!! millions and millions homeless. food shortages, and dont forget some terror attacks sprinkled in for good measure.

[951pete]

food shortages??

LOL

sounds like Y2K !!

WIll the mortage crisis coincide with a drought?

I dont get it.

[COUNTCARDULAR]

usa has less than 2 days stored food in its warhouses. currently still importing foods but when dollar implodes you will not have any.. look at whats happeningin iceland now to see the domino effect in the rest of thewest.

[COUNTCARDULAR]

your house prices will not only drop to pre 2000 levels wiping out your "profit" , but they will drop even further back. perhaps 90% less than they are now.. you are indeed in deep poo poo. coupled with the north american union and the amero.

[gotchabytheleg]

I didn't know that Ray Leeota had a YouTube channel!

[LiveTheAmericanDream]

we are in deep caca...... and the government is in denial...we need to be informed...check out video - living the american dream.. green money graph...

[mgilbo1]

27% decrease in California is not even near where we need to be for home devaluation. What good is 27% when some areas went up 3-500%?? Home values across the nation are still way too high and I feel sorry for the sellers more than the buyers. How naive people are to think we can solve this problem in 7 months when it took 7 years to get here. This will continue for some time.

[cycoaxe]

Another 30-50% from here would make houses somewhat affordable in Cali. I'm waiting 12 months before I jump in. Great videos keep them coming!

[paulagloria]

learn about binary economics and how the same financing that the rich use can help the poor and the entire pie can grow...not robbing Peter to pay Paul

[WTFRUCrazyOrDumb]

Dude,

You are dumb, and a fraud.

First, DQ sales do NOT include auction and courthouse REO sales as you state in your blog.

Second, you are comparing non-REO-resales to inventory that includes REO inventory.

I could go on, but I don't need to.

You are dumb. Dumber than hammered you know what.

Sorry, you are.

[Thunderwavia]

Cool Its about that inventory thing. Units coming on the market in California, and sales down. So why would you buy a house now in Californy, just going to go down further, much futher. Especially in the larger centres with unsustainable transportation networks, all based on the car using gas to get around. A lot of the homes will just be abondoned, and those neighbourhoods, entire parts of the cities will decay quickly, bringing values of homes around down a crapload. Informative!

[coultrane]

I really appreciate the concise analysis, you are a smart guy. Great Job.

[sanashsana]

Crap. I waited, and waint and then thought I was in the right to buy my home in October. I "thought" I got a great deal negotiating my home down by 45K; 2 houses on my street popped up as REOs 2 months later and voila! Both sold for 40K less than mine (and one has a gorgeous pool taboot!). I am not a yuppie, just a lowly middle class person that has dreamed of owning her own home for years. Now it will be at least 6-8 years before my little 1000 Sq Ft. home attains the value it had last Dec :-(

[markmti]

ah, dont worry. It wont be too long before the Prime Govt Bailout hits.

[Kittenkattan]

I would like to thank VisionVictory for directing me to your channel. Great job!

I have subscribed and will be watching closely.

Peace.

K.K.

[truthsabre7]

My brother is a broker in the bay area, he has not sold a house going on 4 months.

[BRANDONCARMODY]

I work for a loan servicer in loss mitigation and we are slammed. There is no realistic way to get through the massive work load which is mostly comprised of MOD'S, Forbearance and short sales. 50 reps trying to process 14, 000 accounts with more being added everyday. This is the craziest time I have ever seen.

[pfowler20]

good job

[suffern7]

Your Right On!!!! the Media has no idea what's about to hit them in their face. I work for one of the largest Mortgage Loan Servicers in the country in the REO dept. I work 7 days a week trying to move my reo's properties. My dept has quadrupled in 3 months. We are ordered to lower listing prices 7% every 30 days. So your seeing the impact of our liquidation.

Good job!!!

[flagstaff1321]

Over 1 Million homes now in foreclosure and climbing says CNN today. The downward spiral is picking up steam.

[philiefay]

Good 1, time for house prices to come back to a realistic price range anyway. No gov't bailout, that will only preserve the already ridiculous prices and us renters (the sensible people) will pay through the nose to let those not so sensible speculators sleep soundly at night in their homes they cannot afford.

[visionvictory]

Dude, you are the man. :) Great Job

[indyattic]

Time for the land barons to move in and take private property ownership away from the middle class.

[rasoros]

and with every passing day these bank owned properties are falling apart, being vandalized and being trashed by squatters. Just imagine the look on auction buyers faces when they show up to the property only to be confronted by angry crackheads & vagrants that have staked out a spot in the living room

[1samothrace77]

lol

[srichards01]

Thank you very much! I'm waiting for the bottom to buy and I WILL SERIOUSLY try to use you because you are the only one out there that seems to be honest! Thanks!

[glacierroast]

Great Video- you hit the nail on the head...

I will say this, the Friggin Bubble states are going to cause this thing to hang on (down) for several years..then you have the banks that are totally making it worse by not lending ANY money to anyone besides people who don't need loans. SHEEPlE everywhere...Bahhhhhh baaaaaahhhhh!

[tictalktic]

great video and yes its getting worse keep up the good work.

[Kelvin701Lakeland]

i think you made a mistake saying the house price peak is in May 2008. Did you mean to say 2006? It confused the heck out of people.

[woodstocksal]

Not in California. I live in San Diego and only the condos have been lower before May. But typical (if you have been here) 800k homes have stayed at peak levels because these yuppies just refuse to believe thier stucco/particle board McMansions are worth any less. That is why few have sold. The shock is now wearing off and selling prices have finally dropped. California was the first in the bubble and will be the last out.

[bdc03]

as many people have pointed out he meant to say 2007.

[mrp421]

Thank you for this. Your search for truth is desperately needed.

[Azt1an]

Keep up the excellent work, you saved from a mistake i might have made.

[burritosburritos]

Does it really matter if the bank makes the market or homeowners make the market? I mean other than the Schadenfreude phenomena it really doesn't effect the non homeowner outsiders.

The key will be when market rents=PITI. That'll be the light at the end of the tunnel.

[BRANDONCARMODY]

This helps a lot. I have a new job and I have to see this on the front lines! Oh yeah! Front lines! Scary s***.

[sporefantast]

Great vid Mark! I hope you dont mind that I point out that at the start of the video you mention that prices topped in may of 2008, Later you explain that they topped in 2007 when you bring up the spreadsheet data.

Anyway, keep up the great work, 5 stars!

[bdc03]

sporefantast yeah he miss-spoke when he said topped in 2008 he meant 2007 like you said :D.

[mrzack888]

very good. I listen to alternative journalists such as you mr. mortgate, instead of the mainstream media.

[markmti]

MRZACK888 - thank you for the comment but it is a sad world when the truth is 'alertnative'.

[john67elco]

dont forget to add to ur taggs: housing bubble bust

It will gain more views. I think im pushin 500k views

[markmti]

thanks john

[john67elco]

this dude makes a video and it get plastered every where. I itch untill the next one. I was looking for a new video yesterday actually!

[TAX2000]

YOU ROCK YOU STUD

[THolleyH46]

As always, awesome information and well-presented. Keep it up Mr. Mortgage!

[robkim55]

This is wonderful research. I wish some body could do the same research about the Fed and how it connects with the housing market and interest rates. I am sure it will be surprising.

[bbaxter1a]

Mark you are providing a great service in providing the inside scoop on the housing market instead of us relying on the garbage from NAR and others. Keep up the good work and BTW, I don't believe the hype. Thanks.

[darclex]

when you say 'we're not going to move any inventory' you're talking to your fellow realtors right? i mean, why should i care if 'we' aren't going to move inventory when i only want to buy one house?

[bdc03]

I think by we he mean the American economy. Not we the realtors. If he wasn't concerned he wouldn't make these videos...DUH.

[dapunisher1000]

Sheer genius!!!!!! I first saw your video on the marketticker forum and I new I had to subscribe. Your work is outstanding!!!

[SlyToocan]

5 STARS for me!

Keep the information flowing.....

[Khayl66]

Hey man! Thank you so much for the most informative videos on the crisis I've seen anywhere. Great job! It's all kicking off here in the UK now too. Very Scary. I hope politicians on both sides on the pond are understanding the scale of this! You're work is vital. Keep it up dude!

[seabassbanker]

WOW...thanks. that is pretty freaking bad...just like neg am loans but negative am inventory for banks books...I wonder at what values these guys carry them on their books

[seabassbanker]

hey...just curious how do new bank REO as % of total sales exceed 100%???

thanks again for a good video

[markmti]

bad explanation. Ok, banks buy the homes back if they dont sell at auction in april to the tune of 22,324 homes. These are NOT counted in the total sales figures because they are not sales. Then, in April total sales were 33,150.

So, reo as a % of total sales was about 72%. It is just a comp point - the two have nothing to do with each other other than that.

REo as a % of total sales is important. If you look at the grey area of the chart, you will see it is 38% last month.

[stinkypoon]

Fascinating stuff. Mark saves me countless hours of market research of which I could never obtain as much underlying data as he has. Awesome stuff. Makes Lawrence Yun and NAR look like child's play, and they're the ones running a multimillion-dollar propaganda campaign.

[markmti]

much appreciate StankyP

[bdc03]

Thanks Mark great video!

[JP5466]

I love your informative videos! Can't wait till the next one.

Mr Mortgage is the man!

[flagstaff1321]

Brilliant!! Sheer Genius! Thanks for another 5 star vid Mr. M. It is clear that CA is your area of expertise, however I'm hoping that you could do at least a 5 min vid that looks at the larger national picture as well.

[markmti]

Thanks Flag - I will have national data within a month.

[flagstaff1321]

excellent

[OCForeclosures]

Here in Orange County foreclosures (NODs and NOTS) are surging. But the lenders are building a huge wave of disaster in by constantly delaying trustee sales for as long as one year. 

I am seeing similar patterns in LA, Riverside, and San Diego counties. So the 38% could have been higher.

As the bank REOs bring prices down 20% or more, many homeowners will just walk away from their homes not willing to service a debt that will take years just to bring them to a break even point.

[markmti]

very interesting

[tyronebiggums3]

Here are the Sonoma Co. totals: NODs for '08 451 for Jan 513 for Feb 498 for Mar 509 for Apr 492 for May Foreclosures for '08: 164 for Jan 238 for Feb 221 for Mar 236 for Apr 274 for May

[MoralObserver]

Excellent analysis. Please keep this up.