So....Is the housing market in Southern CA really recovering????
2010 Apr 25, 12:23pm 7,078 views 34 comments
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2010 Apr 28, 3:23pm
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2010 Apr 28, 3:23pm
Well, the good news is that if we get a second leg down GSIDERIUS can walk away from the loan w/o getting taxed on the income. Don't refi and you're golden in California, too.
Expires at the end of 2012. Maybe the gummint knows something we don't.
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I am still a housing bear but EVERYONE believes that that housing market is recovering for good. They are all planning to buy ASAP. WTH?!?!?
Even after I show them the horrifying graphs of the upcoming defaults and ARM resets (starting this year until 2013), they don't see it affecting home prices. OMG!!!
I am also a bear in the economy and think we are headed for a multi-year depression. Also, interest rates are probably going to rise to double-digits due to inflation.
What is your opinion on the housing market in SoCal???? Am I the only crazy one that believes that we still have a long way to fall? Obviously, Patrick himself is on my side.
#housing