10 Comments

1. 

   greenlander on March 15, 2011 at 2:10 pm

   I’ve never seen him speak before.

   He’s clearly a very sharp guy and a great writer…but an awful public speaker.

2. 

   Consultant on March 15, 2011 at 2:30 pm

   What goes up must come down.

3. 

   Mozart on March 15, 2011 at 2:34 pm

   Yeah, there seem to have been a few good times to buy. Just don’t try selling.

   His awkwardness somehow lends credibility.

4. 

   James on March 15, 2011 at 5:19 pm

   Hard to get excited when someone is telling the truth.

   Nice post JtR.

5. 

   Consultant on March 15, 2011 at 5:59 pm

   Deep post:

   http://www.zerohedge.com/article/guest-post-gathering-storm

   Real estate is not my field, but I follow this blog because it contains sane descriptions (posts and comments) of what’s happening out here, with the obvious emphasis on the San Diego area.

   Jim and his staff are like a platoon in a large army who have figured out the main outlines of the battle taking place, but are rebuffed by the general staff when they report back what’s actually happening in the field.

   The general staff doesn’t want to hear that they’re out of ammunition and possible defeat is on the horizon.

6. 

   Indie Home Owner on March 15, 2011 at 7:35 pm

   Wanna see bubbly?

   Just happened to hear this on Bloomberg TV.

   Mortgage cure rates:

   90 days delinquent:
   today – 1%
   2005 – 40%

   Effectively everyone who is 90 days late is going to become a foreclosure/short sale now.

7. 

   Anonymous on March 15, 2011 at 7:41 pm

   Indie – They are not actually in default because there was a typo on the notice of default rendering the foreclosure invalid and thus entitling the homeowner to get the deed to his house and his loan erased.

8. 

   Ross on March 15, 2011 at 8:09 pm

   What will all this do to the rental market?

   http://money.cnn.com/2011/03/15/real_estate/rent_rise_housing/index.htm

   President of Rent.com forecasts 31% increase in San Diego rents by 2015.

9. 

   genius on March 16, 2011 at 2:16 am

   Then I hope they’re predicting a 31% salary increase as well. Otherwise there are gonna be a lot of vacancies.

10. 

    FreedomCM on March 16, 2011 at 1:13 pm

    and a lot of companies/jobs moving to a place where the wages match the rental rates.