California's Housing Market Is In Dire Straits

[hausdok]

According to an article in NAHB's Nations Building News, the California Housing market is in serious trouble.

To read the entire article click here.

[antelespec]

On the plus side.... there are a lot of investors buying up the foreclosures. I have talked with a few guys that are pretty busy looking at bank owned stuff.

Good and bad I guess.

Tim

[kurt]

It is the collective puking up of unbridled speculation and lunacy in the market. It has to be bad. You can't behave like that and think everything is going to be wonderful.

There's a reason it's called speculation. It's why I remained hunkered down in my foxhole during the "boom" and paid down my mortgage instead of leveraging it. I'm too much a skeerdy-cat. I was there in '79, and every builder in America going bankrupt left a lasting impression. Remember US Homes? I'm sure Les does.......

Apologies to all Californian's who are getting hit by this that didn't act crazy, but are caught up in it.

[Richard Saunders]

I agree with Kurt, boo-F****ing- Hoo

[Brian G]

Ditto. If we could get perfect poetic justice, everyone who threw gas on the fire would burn down with the market and be left with ashes. Greed is not pitiable.

But of course, some innocent parties will be hurt, and some guilty parties will slither away unharmed. Not much poetic justice in this life. [8]

Brian G.

See This Thread Again in 5 - 10 Years (and again, and again, and...) [:-crazy]

[Brandon Whitmore]

See This Thread Again in 5 - 10 Years (and again, and again, and...)

Man, that would mean we would have to pop back out of this slump soon. Was it this bad the last couple of times?

Of you inspector's inspecting during the last downturn, was it this slow then as well?

Reason I ask, I have a pretty good opportunity to go to work with a large commercial HVAC company. The guy's say working for the company is just like owning your own business without all of the headaches. The pay would be about the same as it is doing HI work when business is good.