Comments on: Case-Shiller: Home Prices Continue Dropping Rapidly in LA http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html Redfin Los Angeles Sweet Digs Sat, 21 Nov 2009 15:18:58 -0800 http://wordpress.org/?v=2.8.1 hourly 1 By: Chuck Ponzi http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html/comment-page-1#comment-22250 Chuck Ponzi Mon, 26 Jan 2009 20:43:37 +0000 http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html#comment-22250 Wow, Infiniti, I think you've all got Andy all wrong. You see... it was all about excessive pessimism that's causing this decline in home prices. If people just stopped being so negative towards home prices, they'd stop falling. It's what I'd like to call a "mental recession". In fact, America isn't in a recession at all. People can still get public assistance and then they can buy houses in Orange County and LA. They can also invest in other consumer durables such as jet skis and vacation homes. Don't you all know that real estate always goes up? Jeebus, it's like talking to a bunch of bubble heads. Chuck Ponzi :) Wow, Infiniti,

I think you’ve all got Andy all wrong.

You see… it was all about excessive pessimism that’s causing this decline in home prices. If people just stopped being so negative towards home prices, they’d stop falling.

It’s what I’d like to call a “mental recession”. In fact, America isn’t in a recession at all. People can still get public assistance and then they can buy houses in Orange County and LA. They can also invest in other consumer durables such as jet skis and vacation homes. Don’t you all know that real estate always goes up?

Jeebus, it’s like talking to a bunch of bubble heads.

Chuck Ponzi :)

]]> By: Me http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html/comment-page-1#comment-21840 Me Thu, 08 Jan 2009 13:26:58 +0000 http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html#comment-21840 Wow, Andy. You really missed that one. I'm sure your right this time though. Why in the world would we judge someone's current reasoning on their past track record. One question: who does it feel to suck so bad at your life's work? Your future epitaph: He lies Andrew Waite at being a hack, he was really great. Now, go kiss your wife and kids, they must be so proud, and understand that some people listen to you and will get hurt but trusting you. I understand you are just trying to promote your business but life is short, don't screw it up by thinking it's all about making money. Wow, Andy. You really missed that one. I’m sure your right this time though. Why in the world would we judge someone’s current reasoning on their past track record.

One question: who does it feel to suck so bad at your life’s work? Your future epitaph:

He lies Andrew Waite
at being a hack, he was really great.

Now, go kiss your wife and kids, they must be so proud, and understand that some people listen to you and will get hurt but trusting you. I understand you are just trying to promote your business but life is short, don’t screw it up by thinking it’s all about making money.

]]> By: SCVTalk.com » Blog Archive » January 7, 2008 - Daily Brief http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html/comment-page-1#comment-21825 SCVTalk.com » Blog Archive » January 7, 2008 - Daily Brief Wed, 07 Jan 2009 18:17:13 +0000 http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html#comment-21825 [...] peak, but they tumbled further and faster than in other metropolitan areas in the country. Check Redfin for the charts then reach for your [...] [...] peak, but they tumbled further and faster than in other metropolitan areas in the country. Check Redfin for the charts then reach for your [...]

]]> By: David http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html/comment-page-1#comment-21739 David Sun, 04 Jan 2009 01:33:37 +0000 http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html#comment-21739 Come on, obviously it was a typo. Andrew meant the 1st Qtr of 2009... or 10 or 11. Come on, obviously it was a typo. Andrew meant the 1st Qtr of 2009… or 10 or 11.

]]> By: HB Bear http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html/comment-page-1#comment-21707 HB Bear Thu, 01 Jan 2009 21:16:20 +0000 http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html#comment-21707 I have to agree with Infiniti: this Andrew character has proven he can't asses a market as proven by his article prematurely calling the bottom as the market declined at an historic pace. That he would believe that anyone, including Case/Shiller, would be interested in what he has to say is beyond me. Ignore the Case/Shiller data at your peril. I have to agree with Infiniti: this Andrew character has proven he can’t asses a market as proven by his article prematurely calling the bottom as the market declined at an historic pace.

That he would believe that anyone, including Case/Shiller, would be interested in what he has to say is beyond me.

Ignore the Case/Shiller data at your peril.

]]> By: infiniti http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html/comment-page-1#comment-21694 infiniti Thu, 01 Jan 2009 06:05:47 +0000 http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html#comment-21694 Andrew Waite, You sir should just go away. Case / Shiller won't respond to you because you are an idiot. http://www.reinusa.com/ReinReport/Market_Bottom_Called.pdf Sincerely, Renter who knows how to value real estate. Andrew Waite,

You sir should just go away. Case / Shiller won’t respond to you because you are an idiot.

http://www.reinusa.com/ReinReport/Market_Bottom_Called.pdf

Sincerely,

Renter who knows how to value real estate.

]]> By: Andrew Waite http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html/comment-page-1#comment-21687 Andrew Waite Wed, 31 Dec 2008 20:58:33 +0000 http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html#comment-21687 The S&P/Case Shiller index is bad for American Consumer Confidence because of their objectives and methodology. Only 20 most volatile cities, only up to 5000 sales pairs per city (MSA) to create an index for a vast multi-market housing basket. (23, by city, rolled up by 10, then 20 then national) Case Shiller uses a laughably small sample that lumps all neighborhoods together to get to an index. This overweights foreclosures in modest neighborhoods so drags down the MSA average. Go look at the better indexes and most obviously those that address specific discrete address valuations at IAS360, NAR and OFHEO. All show a significantly lower drop than Case Shiller. Also see Personal Real Estate Investor Magazine January cover story outlining the agenda Karl and Bob have with MacroMarkets to pump their housing index hedge find. Anyone smell conflict? We tried to interview them for the article and they would not talk while their PR agency lied abut their availability. Even the NYT prefers IAS360 to Case Shiller as the holes and conflict are beginning to bother that "bastion of truth and editorial objectivity." Best Andrew Waite www.PersonalRealEstateInvestor.Mag The S&P/Case Shiller index is bad for American Consumer Confidence because of their objectives and methodology. Only 20 most volatile cities, only up to 5000 sales pairs per city (MSA) to create an index for a vast multi-market housing basket. (23, by city, rolled up by 10, then 20 then national)

Case Shiller uses a laughably small sample that lumps all neighborhoods together to get to an index. This overweights foreclosures in modest neighborhoods so drags down the MSA average.

Go look at the better indexes and most obviously those that address specific discrete address valuations at IAS360, NAR and OFHEO. All show a significantly lower drop than Case Shiller.

Also see Personal Real Estate Investor Magazine January cover story outlining the agenda Karl and Bob have with MacroMarkets to pump their housing index hedge find. Anyone smell conflict?

We tried to interview them for the article and they would not talk while their PR agency lied abut their availability. Even the NYT prefers IAS360 to Case Shiller as the holes and conflict are beginning to bother that “bastion of truth and editorial objectivity.”

Best Andrew Waite
http://www.PersonalRealEstateInvestor.Mag

]]> By: Case-Shiller: Rapid Home Price Declines in OC | Redfin Orange County Sweet Digs http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html/comment-page-1#comment-21665 Case-Shiller: Rapid Home Price Declines in OC | Redfin Orange County Sweet Digs Tue, 30 Dec 2008 16:59:42 +0000 http://blog.redfin.com/losangeles/2008/12/case-shiller_home_prices_continue_dropping_rapidly_in_la.html#comment-21665 [...] Since Case-Shiller lumps LA and Orange Counties together, I won’t repeat everything I wrote on the LA Sweet Digs blog. For more analysis and some graphs of the LA Case-Shiller data, check out my post over there: Case-Shiller: Home Prices Continue Dropping Rapidly in LA. [...] [...] Since Case-Shiller lumps LA and Orange Counties together, I won’t repeat everything I wrote on the LA Sweet Digs blog. For more analysis and some graphs of the LA Case-Shiller data, check out my post over there: Case-Shiller: Home Prices Continue Dropping Rapidly in LA. [...]

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