Subscribe to:
Post Comments (Atom)
Look it up!
The Valley's Own: Monkey Island
FAQs
- So, whatever happened to all those listings in Fashion Square?
- What about those houses between $900k and $1.5M in the hills?
- What's up with that house on Noble?
- I just want to see the posts about your house hunt, where are they?
- Where can I find Kate in the Valley posts?
- What's the significance of May 5?
El Sid
Other Like Totally Awesome Blogs & Sites:
- L.A. Land
- FTC on Competitive Real Estate
- Bubble Market Inventory Tracking
- Westside Bubble (Santa Monica High End)
- Calculated Risk
- Real Estalker
- I <3 Joel Stein
- Steve! Don't Eat It!
- All & Sundry
- Not Martha
- LJC FYI
- Miss Doxie
- Persephone, The Golden Doodle
- Project RunGay
- L.A. Noir
- Potatomato
- Slashfood
- Shelterrific
- Open House @ Apt. Therapy
- LA.com
- Ask Meta
Legal Stuffs
5 comments:
Very interesting. So what is your best reasoned view, Kate & Kate's astute readers, on
a) what month/year the LA market will bottom
and
b)at that point, the median price will be equivalent to what past month/year (that is, a price rollback to what month/year)?
Market bottom: Jan. 2010.
Rollback to: Feb. 2003.
I just scrolled through listing on the LA Times housing listing (from MLS?) and the worst house was sitting around $200,000 still. Too high! I bet these truly terrible places will drop to $150k before the land speculators will start snatching them up. So that means, another 25% drop from NOW.
So, Market Rollback to Dec. 03, and
Market Bottom: February 09.
Unless there's an earthquake.
Cheers!
Market Rollback to Spring 1998
Market Bottom Fall 2012 - then housing prices will more or less bump along that bottom for several more years.
Love the optimism! Considering that the bottom of the last market dip was 1997, I think a market rollback that far would mean that houses have been a poor buy since before the 1994 Northridge Earthquake. If that 1997 bottom was the 'correct' value, then inflation alone brings the median price to about what they were in January '02 (me, eyeballing the graph). Then, the median price for Los Angeles was $240k.
I personally don't think that the median will drop that far, but our little house in Van Nuys could easily see that number again!
Cheers!
Post a Comment