Comments on: Case-Shiller: LA Home Price Declines March On

By: Matt

Matt — Tue, 13 Jan 2009 17:27:42 +0000

I know you keep saying to save your money and buy in a year, but what if you are completely fine purchasing for example, a 2 bed 2 bath condo that has dropped more than $100,000 down to $300,000? You can never time the bottom and if I am comfortable with that price, why not grab it? I doubt on the lower end with condos that prices will drop another $100,000 and with interest rates as low as they are now, does this sound plausible? Thanks!

By: Warren Trump

Warren Trump — Wed, 07 Jan 2009 06:52:42 +0000

Dan said:

Mortgage rates are basically 5% for a FHA 30 year fixed. Home prices have taken a majority of hit to price declines. Don’t forget the rental market also supports housing prices.

It couldn’t be a better time to buy. It’s impossible to time the bottom and if you really want to buy your dream house, now is the time. What a selection. You can wait to buy but in the summer its going to be booming as everyone starts growing optimistic.

Believe it or not, housing is going to lead us our of this recession.

=========================

Sure it is, Champ.

The economy won’t be “booming” by next summer. At best there will be a slight uptick in GDP but not enough to fuel a big increase in real estate demand.

It makes little sense to buy in now with prices continuing to drop since sellers are still coming to terms with their homes not being worth nearly what they paid for them. It’s going to get worse before it gets better. Save your money and buy in a year.

By: Tim Ellis

Tim Ellis — Thu, 25 Dec 2008 02:13:44 +0000

Hi Christopher,

Case-Shiller data comes out on the last Tuesday of every month, for the period two months prior. So the September data is currently the most recent, which came out the last Tuesday of November.

Next week the October data will come out, and I will indeed be posting an update.

By: Christopher Hain

Christopher Hain — Wed, 24 Dec 2008 20:53:16 +0000

Are you going to update this?

The data is through September, and a lot has changed in the economy (for the worse) since September.

By: Dan

Dan — Sun, 21 Dec 2008 20:34:55 +0000

Mortgage rates are basically 5% for a FHA 30 year fixed. Home prices have taken a majority of hit to price declines. Don’t forget the rental market also supports housing prices.

Believe it or not, housing is going to lead us our of this recession.

By: A Look at Los Angeles Supply and Demand | Redfin Los Angeles Sweet Digs

A Look at Los Angeles Supply and Demand | Redfin Los Angeles Sweet Digs — Wed, 17 Dec 2008 22:06:04 +0000

[...] Angeles Sweet Digs « Case-Shiller: LA Home Price Declines March On December 17, [...]

By: Shaun

Shaun — Tue, 09 Dec 2008 01:49:45 +0000

Ivy Equity. Did you read the article? Prices are still dropping.

Even at a rate of 4.5%–which I have not seen, eating what may be a 6 figure loss is not to be taken lightly, especially with the economic uncertainty ahead and job cuts being announced every day.

I know you’re fishing for sales, but this is not the article to do it in.

By: Ivy Equity Realty

Ivy Equity Realty — Fri, 05 Dec 2008 07:08:18 +0000

With mortgage rates as low as 4.5% and home prices well off their recent highs, now is the perfect opportunity for a homebuyer with a long or medium term outlook to purchase the right home. http://www.ivyequity.com

By: Case-Shiller: OC Home Prices Still Falling | Redfin Orange County Sweet Digs

Wed, 03 Dec 2008 02:20:55 +0000

[...] 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: LA Home Price Declines March On. [...]