[ambrose]

3326 MALABAR ST Los Angeles, CA, 90063 offered at $225,000

photo 1 of 6

Bedrooms: 3 Bathrooms: 1 Full / 1 Partial Year Built: 1920

PROBATE CASE#VP00953. SUBMIT OFFERS ON PROBATE OFFER FORM. COURT APPROVAL NEEDED. 10% MINIMUM DEP. SUBMIT COMPLETE CREDIT REPORT F/ALL 3 AGENCIES W/PRE-QUAL LETTER. BUYER TO VERIFY LEGALITY OF ADDITIONS. ALL DISCLOSURES NEEDED. FOR VIEWING APPT. CALL LA.

View Home Details $330,000 1029 W 151st Street, Compton, Ca 90220 Map it! Listing provided courtesy of C-21 Action Bedrooms: 3 | Bathrooms: 2 | Sq Ft: 1,200 Comments: No comments provided.

[IMRight]

The report notes that current population growth supports about 1.5 million to 1.6 million new houses being built throughout the nation. But 1.9 million units were built last year and 2 million are slated for construction this year, indicating that a slowdown is in order.

And how many houses become unusuable and need to be replaced? I bet it's more than the difference.

[thoughtomator]

This housing bubble NEEDS to pop or much of this next generation of adults will never get the opportunity to be homeowners, without signing themselves into debt slavery for the rest of their productive lives.

[finnman69]

Those are frightening examples. Who the hell is dumb enough to buy those homes at those prices?

[2banana]

Today people wonder how they could have paid $235 a share for a book warehouse with a website back in 2001...

Tomorrow they will wonder how they could have paid $657,000 for a 3 bedroom shack located next to a highway in 2005...

[TheDon]

U.S. housing bubble may pop

or

U.S. housing bubble may not pop

The word 'may' should be disallowed in story titles.

[the Real fifi]

Housing is very expensive in southern California, but I doubt the market will "pop" rather than stop climbing so precipitously. More people still move there than move away and there is not enough buildable land (even accounting for the fact that Californians seem able to contruct on lots that are vertical, not horizontal).

[Pessimist]

Normally I don't care much about the "housing bubble", since here we don't really have one here in Cleveland, OH. But yesterday I read in the WSJ that some economists now think that because the bubble areas are so pervasive, a pop in those bubbles could actually drag down the entire US economy. If I recall correctly (and I often don't), something like 45% of the current housing value in the US is in what are considered bubble markets (ie > 30% gain over the last 3 yrs).

This will probably end up just like the dot com boom and bust. Rational, conservative investors will end up getting gutted by the market too, all because of the greed and "irrational exuberance" of the relatively few.

[durasell]

Pics of Usonian Homes!

I figured out the resistance to the housing market bulls -- it's the word "pop." The phenom makes more sense to them when phrased as "sudden decline."

[Lazamataz]

We're all gonna die!!!!

[new cruelty]

End o' the world bump

[montag813]

FReepers...please don't fall for the bubble mania the MSM is pushing. USA Today on Friday made the entire issue about scaring sellers into dumping their homes before the "crash". Only in the last paragraph do they quote a contrarian who calmy states the 3 reasons why home prices will continue to rise for the forseeable future, but that is only after 4 pages of bubble-hysteria.

Please understand that the MSM sees the housing boom as the only thing holding up this economy and consumer spending. If they can derail that boom and wreck the economy, they can wreck George W. Bush and set the table for Hillary. That is the primary reason why the MSM is in total lockstep manic mode about this.

Further evidence of this comes today from Morgan Stanley's Chief Economist today, Steven Roach. roach blasts the Fed for "an irresponsible, reckless monetary policy," holding rates artificially low, "fooling asset-dependent American consumers to keep on binge-buying." Roach, who has been a HUGE contibutor to Hillary Clinton and the DNC, actually says "We need politically independent central bankers. That's what's missing right now". This clearly means that Roach wants the Fed to ratchet up rates fast to kill the housing boom and destroy Bush.

Don't allow the MSM and Hillary stooges to destroy your confidence in the housing market, which is strong for fundamental reasons which are quite sound. DON'T PANIC. That is what the Left want you to do.

[austinite]

There is no bubble. Nothing to see here, move on.

[M Kehoe]

Two words: business cycle.

Such is life.

Be prepared.

5.56mm

[1Old Pro]

It probably won't "pop" or burst in 95% of the country. It very well may and probably will flatten off as Merrill Lynch predicts. Shaving a half point off GNP will hardly be disasterous. CHICKEN LITTLE WARNING.

[Toddsterpatriot]

By the end of the year, America's bubbling housing prices will likely flatten or pop, causing an economic slowdown, economists warned in a flurry of reports yesterday and today.

I think it's more likely that an economic slowdown will pop housing prices than the other way around.

But I could be wrong. :^)

[Doohickey]

Boy, that's a real fixer-upper...

[GOP_1900AD]

No doubt man - essentially, prices HAVE to flatten, if not soften, here in Cali, or else we'll lose lots of jobs as employers move out of state due to the housing costs. Even execs cannot afford to move here (unless they want to live in very plain, old ranch homes!).

[Argus]

What your house is "worth" on the market is only relevant if you want to sell. If you plan to continue living in it (and that is what houses are for, right?), it makes no difference what it could fetch at the moment. The reason housing prices are going up in the bubble areas is supply and demand - more buyers than sellers. What that means to me is - people are staying put, despite the prospect of inflated profits. As long as this situation pertains, how is the bubble going to pop?

[Vision]

bttt

[atlanta67]

I saw some good data on So Cal hosuing prices going back to 1982.


Right now the bubble is probably worse than in 1987-90 as hte run up from 2001-04 has been greater than in 1987-90.

When the bubble did burst in CA prices fell about 20% but it took 5-6 years to bottom out. What you had wasnt really a popping as much as air coming out of the balloon. From 1991-96 housing prices fell by 1-5% each year. Each individual year didnt look to bad but cumulative it was pretty bad