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In California, House Sales Are Plunging Like It Is 2008 All Over Again


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2018 Nov 2, 7:20pm   9,535 views  74 comments

by Patrick   ➕follow (56)   💰tip   ignore  

http://theeconomiccollapseblog.com/archives/in-california-home-sales-are-plunging-like-it-is-2008-all-over-again

According to CNBC, the number of new and existing homes sold in southern California was down 18 percent in September compared to a year ago…

The number of new and existing houses and condominiums sold during the month plummeted nearly 18 percent compared with September 2017, according to CoreLogic. That was the slowest September pace since 2007, when the national housing and mortgage crisis was hitting.

Sales have been falling on an annual basis for much of this year, but this was the biggest annual drop for any month in almost eight years. It was also more than twice the annual drop seen in August.

Those numbers are staggering.

And it is interesting to note that sales of new homes are being hit even harder than sales of existing homes…

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41   RWSGFY   2018 Nov 6, 3:55pm  

Malcolm says
MbS says
Malcolm says
They cut down on my traffic and my roads are nice and maintained. I also enjoy the fresh landscaping.


Where is this paradise with no traffic, smooth roads and fresh landscaping? Not SFBA for sure.


No, definitely not SFBA, ?


Yep, didn't think so myself. ;)

See: I bet than most of gas tax money going into state coffers are from our and LAs overcrowded roads but nice roads are elsewhere...
42   Malcolm   2018 Nov 6, 4:00pm  

MbS says
See: I bet than most of gas tax money going into state coffers are from our and LAs overcrowded roads but nice roads are elsewhere...


It just means those wealthy areas aren’t paying enough, It’s a big state you know. The solution is simple, more gas taxes.
43   MAGA   2018 Nov 6, 4:01pm  

Let's not forget Suzanne and her special listings.

www.youtube.com/embed/20n-cD8ERgs
44   Malcolm   2018 Nov 6, 4:04pm  

MAGA says
Let's not forget Suzanne and her special listings.



Memories, oh beautiful memories, how I missed Suzanne, and the pudgy mark.
45   Malcolm   2018 Nov 6, 4:09pm  

I always loved that aggressive head bob, just like a man about to throw a punch. You gotta love the cordless speakerphone. That was some serious IT back in the day.
46   Strategist   2018 Nov 6, 4:16pm  

Malcolm says
MbS says
Malcolm says

I drive electric cars, so I’m with you there. High gas taxes seem very fair to me.


No worries: sales tax and elevated registration fee you pay every time you jump from one of these short-lived toys to another is easily the same or more as owners of old gas jalopies are paying in gas taxes. ;)


Touché, but that’s why I lease, and the state generously gives me $2,500 each time for my troubles.


Except for Tesla, leasing electric cars makes the most sense.
Ultra cheap electricity for charging at night. 8 cents per kWh, subsidized by by you guys. Thank You.
We also get $500.00 per electric car from SDGE utility. Thank You. (Don't forget to apply for yours Malcolm, around February. And please thank our friends who were taxed for it)
Free car pool sticker. Such a pleasure breezing by those guzzlers and their drivers who develop a glazed zombie look in traffic. he he he.
All I ask for is more. Wheeeee!
47   Malcolm   2018 Nov 6, 4:25pm  

Strategist says
Don't forget to apply for yours Malcolm, around February.


Thanks for mentioning. We are going to keep our 2nd car just long enough as to have three cars on that magic date. Then we get an extra $500. The beauty is, we don’t even charge our cars at home, so we get the best of all worlds. Volta is installing free chargers all over the place. It’s a beautiful thing.

Ah those express lanes where I am only limited to 93 MHP because that’s as fast as my Leaf and my Bolt will go, but 0-60 in a Bolt is fast af.
48   RWSGFY   2018 Nov 6, 6:06pm  

Strategist says
Except for Tesla, leasing electric cars makes the most sense.
Ultra cheap electricity for charging at night. 8 cents per kWh, subsidized by by you guys. Thank You.
We also get $500.00 per electric car from SDGE utility. Thank You. (Don't forget to apply for yours Malcolm, around Februa...


Jedem das Seine. When it comes to electric cars, it's Tesla or GTFO for me. If driving around in sad little FWD roundabouts and saving money" is the only goal, Yaris or Versa works as well (or better) for it as Leaf and such. Life is too short to drive boring cars. And the beauty of it: you don't have to pay through the nose to drive an interesting car if you're able to turn a wrench now and then.
49   Strategist   2018 Nov 6, 8:04pm  

MbS says
Strategist says
Except for Tesla, leasing electric cars makes the most sense.
Ultra cheap electricity for charging at night. 8 cents per kWh, subsidized by by you guys. Thank You.
We also get $500.00 per electric car from SDGE utility. Thank You. (Don't forget to apply for yours Malcolm, around Februa...


Jedem das Seine. When it comes to electric cars, it's Tesla or GTFO for me. If driving around in sad little FWD roundabouts and saving money" is the only goal, Yaris or Versa works as well (or better) for it as Leaf and such. Life is too short to drive boring cars. And the beauty of it: you don't have to pay through the nose to drive an interesting car if you're able to turn a wrench now and then.


Electric cars not just save you a lot of money, but are more fun to drive, and pack a lot more power when accelerating. Most people don't believe it, or don't want to believe it.
I understand there is skepticism with new technologies, especially when $trillion oil companies spread propaganda to protect their wealth. However, they cannot fool all the people all the time.
50   FortWayneAsNancyPelosiHaircut   2018 Nov 6, 9:06pm  

Heraclitusstudent says
FortWayneIndiana says
Without prop 13 everyones taxes aren't going lower, it's going up for everyone. It'll be pure gentrification, liberal elite will own everything, middle class will lose everything.


That's if you define "middle class" by "people born before a certain date" and "liberal elite" as "young people".

Without Prop13, old people would stop opposing more building, and probably enough people would leave to lower prices (and so taxes).


Everyone will be old one day with little income. Anyone who thinks prop 13 should be repealed practices short term thinking mentality or has a gold plated government pension. Lots of people live in 40-60k income a year in houses that were cheap when they bought years ago, but at old age taxes would throw them on to the street.
51   FortWayneAsNancyPelosiHaircut   2018 Nov 6, 9:40pm  

Aphroman says
If the market tosses the old losers on the streets so be it


no, old people are fine, just you.
52   MisterLefty   2018 Nov 7, 3:26am  

FortWayneIndiana says
Lots of people live in 40-60k income a year in houses that were cheap when they bought years ago, but at old age taxes would throw them on to the street.
They can take out a home equity loan. This bogus claim is made on behalf of the heirs.
53   anonymous   2018 Nov 7, 6:32am  

Property taxes shouldn't be assessed based on the the $ value of the property. It should be something that is levied based on the parcel of land (size, type) and should be FAIR AND EQUAL.
54   HeadSet   2018 Nov 7, 7:24am  

Like a roller coaster at Cedar Point

I assume you are talking about Top Thrill Dragster

www.youtube.com/embed/lBgNx8nts70
55   NuttBoxer   2018 Nov 7, 7:31am  

We also have more people leaving the state than coming, again.
I think the difference in the foreclosures this time will be that the houses will be un-occupied. I believe those who have been buying lately, other than a few suckers who bought at the top, where speculators wanting to cash in on the high rents. But you can only have so many rentals before they start to sit, because there are more options available, or because people are leaving rather than pay a rent they can't afford. Once the market really starts to plummet, the owners without renters will stop making payments, and the owners with renters may also lose out if they don't lower rents to adjust to the market, losing their existing renters, failing to find new ones, and deciding to let the house sink. Some will decide it's better to keep the house than lose it, but they will have to suck it up and pay some of the mortgage, as they won't be able to find renters to pay it all for them. AND, in an economic crash buyers get foreclosed on, but renters, they just move. I see a renters and buyers paradise coming.
56   HeadSet   2018 Nov 7, 7:31am  

They can take out a home equity loan.

Contrary to popular belief, home loans are not free money. If Prop 13 were to be repealed, a far better idea would be for the retiree to sell the house and use the proceeds to move to a more affordable area. Nothing beats a paid for home, especially for a person on fixed income.

HELOCs and "Reverse Mortgages" are more gifts to banks than to the public.
57   HeadSet   2018 Nov 7, 7:59am  

That’s the one. When it is over, everyone’s hair is frozen back and they have bugs stuck to their grill (face). That video doesn’t do it justice.

No, the video cannot do it justice. You cannot tell you zipped to 120 mph in that few second launch. Six Flags Great Adventure in NJ has an even bigger version of that ride called Kingda Ka. Slightly faster and taller.

When at Cedar Point, I suggest you try the lake trout sandwich they sell. I live on the coast and love my salt water fish, and consider fresh water fish to be bland. But that lake trout (I presume local fresh from Lake Erie) was quite tasty.
58   Malcolm   2018 Nov 7, 8:43am  

I went to Cedar Point this year. Just back in September. It is a marvelous place.
59   HeadSet   2018 Nov 7, 8:44am  

stayed at their cheaper hotel at the outside edge of the property

I did the same thing when I took wife and daughter, stayed at the Econolodge outside the gate. We have been twice, not crowded either time. Been to Hershey Park once, extremely crowded. Kid was little then, so for her the fun part of that trip was the little boat tour through the Hershey factory.
60   MrBark   2018 Nov 7, 9:24am  

MisterLefty says
FortWayneIndiana says
Lots of people live in 40-60k income a year in houses that were cheap when they bought years ago, but at old age taxes would throw them on to the street.
They can take out a home equity loan.


Solid financial advice.
61   Strategist   2018 Nov 7, 10:02am  

MbS says
If driving around in sad little FWD roundabouts and saving money" is the only goal, Yaris or Versa works as well (or better) for it as Leaf and such. Life is too short to drive boring cars. And the beauty of it: you don't have to pay through the nose to drive an interesting car if you're able to turn a wrench now and then.


Why drive a Yaris or a Versa, when you can get something more powerful, fun, larger, and economical? It's like using the old slide rulers to make calculations, when a simple calculator does it better. Conservatives tend to cling to obsolete technologies even though newer ones can do a better job. It's just irrational.
62   RWSGFY   2018 Nov 7, 10:11am  

Strategist says
Why drive a Yaris or a Versa, when you can get something more powerful, fun, larger, and economical?


This is exactly what I said: it's Tesla or GTFO when it comes to EVs. The rest of the EV crop are not different from Versas in the above mentioned departments.
63   Strategist   2018 Nov 7, 10:12am  

APOCALYPSEFUCKisShostikovitch says
Strategist says
pack a lot more power when acceleratin


Zero to 120 in 2 seconds is what driving is all about.

There was a story about a professor at an engineering school in Arizona, someplace out west who had permanent goggle face because he didn't both putting windscreens on his electric cars. Had these hopped up contraption blasting around the nearest town and told the reporter the same thing. People don't know how insane it is to get into a car that can explode from zero to 100 in no time flat. If they knew, they'd never drive internal combustion again.


They know, but are in denial. Some people resist change because they do not want to step out of their comfort zone. They foolishly fought tooth and nail to prevent the use of LED light bulbs, a much better and efficient technology. Now they use it without a word, because they are embarrassed at how silly it was to oppose LED light bulbs. Just a matter of time before they buy an electric car.
64   Strategist   2018 Nov 7, 10:14am  

MbS says
Strategist says
Why drive a Yaris or a Versa, when you can get something more powerful, fun, larger, and economical?


This is exactly what I said: it's Tesla or GTFO when it comes to EVs. The rest of the crop are not different from Versas in the above mentioned departments.


The Nissan Leaf, Volt, and the rest of the crop are very different from the Versas. There isn't even a comparison.
65   anonymous   2018 Nov 7, 10:21am  

HeadSet says
Like a roller coaster at Cedar Point

I assume you are talking about Top Thrill Dragster

www.youtube.com/embed/lBgNx8nts70
This is analogous to sex with my wife.
66   HeadSet   2018 Nov 7, 10:22am  

This is analogous to sex with my wife.

Yeah, we all know.

Sorry, you set yourself up for that, to hard to resist.
67   anonymous   2018 Nov 7, 10:25am  

Strategist says
hy drive a Yaris or a Versa, when you can get something more powerful, fun, larger, and economical? It's like using the old slide rulers to make calculations, when a simple calculator does it better. Conservatives tend to cling to obsolete technologies even though newer ones can do a better job. It's just irrational.
I totally agree with your philosophy. Which EV vehicle would you recommend? Chevy Bolt get great ratings. Would federal and state incentives make it better to lease or buy an EV vehicle?
68   HeadSet   2018 Nov 7, 10:30am  

They foolishly fought tooth and nail to prevent the use of LED light bulbs, a much better and efficient technology.

Who did that? I fought the use of CFLs back in the day because CFLs contain mercury and I knew that LEDs were on the way.
69   Strategist   2018 Nov 7, 12:22pm  

PrivilegedtobeWhite says
Strategist says
hy drive a Yaris or a Versa, when you can get something more powerful, fun, larger, and economical? It's like using the old slide rulers to make calculations, when a simple calculator does it better. Conservatives tend to cling to obsolete technologies even though newer ones can do a better job. It's just irrational.
I totally agree with your philosophy. Which EV vehicle would you recommend? Chevy Bolt get great ratings. Would federal and state incentives make it better to lease or buy an EV vehicle?


Lease it. Technology is rapidly changing. Eventually you will work out the pros and cons, and zero in on a permanent vehicle. Also, on a EV lease, all the rebates and discounts are condensed into the 3 year lease, making it unusually economical.
You would need to research the models to make sure which one meets your requirements. You can lease a Volt for around $8,000 in total payments with zero drive off, and still get a $1,500 check from the state. I just leased a Nissan Leaf, the new better 2018 model for $4,500 drive off, and $219.00 per month. I will get $2,500 rebate check from the state. Electricity is free from Nissan for 2 years. I purchased a Tesla Model 3, and am expecting delivery next week. I did not think the Tesla was worth leasing.
Check out this site. It tells you where the best deals are for EV's. It's the most useful site if you plan on getting an EV. Don't lease before going through this site. Good luck.

http://ev-vin.blogspot.com

http://evadoption.com
70   Strategist   2018 Nov 7, 12:24pm  

HeadSet says
They foolishly fought tooth and nail to prevent the use of LED light bulbs, a much better and efficient technology.

Who did that? I fought the use of CFLs back in the day because CFLs contain mercury and I knew that LEDs were on the way.


A lot of conservatives like Dennis Prager.
71   anonymous   2018 Nov 7, 5:52pm  

Strategist says
Check out this site. It tells you where the best deals are for EV's. It's the most useful site if you plan on getting an EV. Don't lease before going through this site. Good luck.

http://ev-vin.blogspot.com

http://evadoption.com
Thanks
72   WookieMan   2018 Nov 7, 6:10pm  

One more comment and the pooping photo is off this page. And here it is. @MAGA I get the humor, but fuck that photo is/was gross.
73   FortWayneAsNancyPelosiHaircut   2018 Nov 7, 9:11pm  

PrivilegedtobeWhite says
Property taxes shouldn't be assessed based on the the $ value of the property. It should be something that is levied based on the parcel of land (size, type) and should be FAIR AND EQUAL.


That won't work in CA. CA is a "equality" state where if you have anything more than another person, there are twenty people who want your shit taxed away into equality. Their view of fair and equal is "take from white man" just because.
74   Ceffer   2018 Nov 8, 1:20am  

I'm glad the proposition requiring any Californian with an income above 60K per year to quarter a randomly appointed illegal alien extended family for five years (except for exemptions granted to busy Hollywood executives and State employees) didn't pass.

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