Article

2011-06-16 Economy

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Posted by Fred 2011-06-16 00:00|| || Front Page|| [1 views ] Top

#1 Bets that the county assessors are updating the valuation of the properties to reflect the drops? /sarc

Posted by Procopius2k 2011-06-16 08:49|| 2011-06-16 08:49|| Front Page Top

#2 When you have homes that are 7x more than real value, something's bound to give.

Posted by Anonymoose 2011-06-16 09:51|| 2011-06-16 09:51|| Front Page Top

#3 I bought the home of my dreams in Riverside for $675,000 in early 2006. By mid-2008, it was worth $329,000. It took the county until 2009 to revalue the house to $550,000. If my house has lost this much more value, my home worth less than $200K right now.
Thank you Democratic congress, thank you Fannie, Freddie and Wall Street.
The rape of the middle class continues.

Posted by Bill Clinton 2011-06-16 10:34|| 2011-06-16 10:34|| Front Page Top

#4 Oh wow gee! I better get to buying some houses in California then! Why am I throwing away money in rent when I can own a depreciating and over taxed asset!?!?!?!

/sarc

Posted by DarthVader 2011-06-16 12:42|| 2011-06-16 12:42|| Front Page Top

#5 Caliphornia lacks the fundamental driver of job growth required to increase the housing demand. That was true before, during, and after the Gollyvornia housing bubble expanded and then burst. It was also true for the rest of the USA, perhaps with the exception of North Dakota. But CA is the epicenter of wretched housing excess.
The bubble was entirely based on excessive / too easy credit and the madness of crowds. 'Dream house' is a metaphor that cuts in different ways. Some people's housing dreams are now nightmares.

Posted by Anguper Hupomosing9418 2011-06-16 12:50|| 2011-06-16 12:50|| Front Page Top

#6 I actually checked my home on Zillow.

I don't have to slit my wrists anymore. I can just now lose a few fingers.

Posted by anonymous2u 2011-06-16 13:52|| 2011-06-16 13:52|| Front Page Top

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