ARCHIVED BLOG POSTS

2008 

Yesterday, the S&P/Case-Shiller home-price index dropped 10.7 percent from January 2007, after a 9 percent year-on-year decrease through December 2007. This gauge has fallen for 13 consecutive months! The index was created by Robert Shiller, chief economist at MacroMarkets LLC and a professor at ...
03/26/2008
I'm proud to say that my blog post Does the National Association of Realtors really need an economist? posted to the San Diego real estate blog on 3-14-08 was selected as one of the top tem blog posts in the inmanews (Joel Burslem) 3-24-08 Carnival of Real Estate. Nice to be in the company of som...
03/25/2008
The National Association of Realtors said that sales of existing homes rose by 2.9 percent in February to a seasonally adjusted annual rate of 5.03 million units.  But, here in the West, sales of existing homes actually dropped by 1.1 percent! Also, reported by NAR was the fact the median existin...
03/24/2008
The Fed has allowed Fannie Mae and Freddie Mac to ease capital requirements, allowing them to pump up to $200 billion into the distressed US mortgage market. This was done by lowering to 20 percent from 30 percent the amount of extra capital the companies are required to hold. The extra $200 bill...
03/20/2008
For San Diego, the summer of 2005 was the peak in the real estate bubble.  Now almost 2 1/2 years into the steady deterioration of San Diego home values, the predominant question asked by most potential home buyers is: “Has the San Diego real estate market bottomed out, or when do you think the b...
03/14/2008
I've been a member of the National Association of Realtors (NAR) for over 30 years and I'm hard-pressed to remember the Association forecast being anything but overly optimistic.I'm also a member of the San Diego Association of Realtors and the California Association of Realtors.   I have nothing...
03/13/2008
DataQuick, based in La Jolla, CA, reported today that sales fell 39 percent from a year earlier in Los Angeles, Orange, San Diego, Riverside, San Bernardino and Ventura counties. There were 10,777 homes sold in February in those six counties. Southern California's home sales volume has hit new lo...
03/13/2008
Gold and platinum prices have risen more than 200 percent since 2001 and are hitting historic highs this year. A recent Bloomberg headline that I thought was right to the point: "Gold beats financial assets on global distrust of central banks." This is why people need to own gold. You can't trus...
03/10/2008
According to the latest data from the California Building Industry Association (CBIA), new home construction starts in California fell 62 percent in January. Chief Economist Alan Nevin said the drop in new residential projects breaking ground coupled with the ongoing push to move existing invento...
03/06/2008
Rainmaker
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