[Polybius]

"We're selling houses at $90,000, with monthly payments of $750 to $800 with insurance and taxes.

Gee, you put houses up for sale at a price that the buyers can actually afford without gimmick loans that will bankrupt them in five years and those houses sell like hotcakes.

Go figure!

[paul51]

"We're within driving distance of the San Fernando Valley and Los Angeles,

When the gas prices resume the climb and the water runs out, those homes will have less appeal

[BobS]

And drive down the 14 and the 405. There is always an accident there. Some are hilarious. Like when a truck full of chickens overturned and they ran around 12 lanes. And an armored truck had a problem and there were quarters all over the place. When the beer truck overturned, the contents were absorbed quickly. And another one carrying pigs a month later.

Jimmy Buffett can write a song about this. His I-95 song is close.

[anglian]

Percentage of residents living in poverty in 2007: 18.1%
(6.5% for White Non-Hispanic residents, 20.4% for Hispanic or Latino residents, 22.7% for other race residents)

http://www.city-data.com/city/Palmdale-California.html

[sten]

never saw this coming /sarc

last week there was a story about how various wealthy asians were coming in to snap up realestate at foreclosure prices

[Yaelle]

High gangs and crime, unbearable heat, no water, and 1-2 hour commutes. Sounds like fun.

[Rational Thought]

Be willing to bet over 70% of these buyers were from people who walked away from their homes in the city.

The statistic that sales rose while prices plunged indicates a huge increase in supply.