[SGVLUG] Back on topic: housing and bear stearns

[matti]

Hi,

I tried to find a mashup on foreclosures/reos...

but so far no luck...

hmmmm... anyone want to start a company???? ;-)

> Some of the higher priced communities in more established areas
> (read: geographically
> close to "enterprise"-level commerce or industry) seem to have held
> their prices quite
> well.  Where is this "housing crash" in those communities?

It will happen... just give it time...

basically the biggest places falling are neighborhoods
which were insanely priced (as you pointed out...
no good jobs in many inland locations.. )

here's an interesting site btw...
http://www.doctorhousingbubble.com/

he's posted some examples of insanely priced housing...
http://www.doctorhousingbubble.com/category/real-homes-of-genius/

the data of average house price has a lot to
do with the foreclosures, as those are bringing
the average down.

As the economy cools and some people get laid off,
you will see more foreclosures, and short selling...

Tho, don't expect this to happen so much on the upper class
areas, as many of those people aren't as dependent
on work as the middle and lower classes.

I'm guessing the US economy is gonna get kicked in
the privates for a few years...

Oh, and David's article was an interesting read,
tho I certainly hope we don't get that bad...

best
matti




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