Posted on 09/25/2006 8:41:42 AM PDT by GodGunsGuts
Sep 20, 2006
4 Major California Home Markets See Drop In Prices
(AP) LOS ANGELES A real estate research firm says the median price of a California home increased last month at the slowest annual rate in nine years.
Four counties actually saw price declines. Among the largest real estate markets, according to DataQuick Information Systems, the steepest drop was 6.7 percent in San Mateo County. Other decreases were seen in Marin County (2.3 percent), San Diego County (2.2 percent) and Alameda County (1.5 percent).
Appreciation in Sonoma, Santa Clara, San Francisco and Contra Costa counties was essentially flat.
The statewide median price was $472,000 in August, a 3.5 percent hike over the year-ago period. It was the slowest increase since June 1997, when statewide home prices rose just 2.8 percent.
(© 2006 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
To paraphrase JP Morgan "If you have to ask, you can't understand it".
It just isn't 'nice' weather - it's perfect weather ie not too hot, not too cold, not too humid, not too dry. This means one can live every day of the year - there are practically -0- days where one has to close up their windows & turn on the a/c and/or heat.
Calif lies in between the Pac northwest where it rains every day, and Baja where it almost never rains. Those earthquakes create both mountains & valleys, which, when combined with just the right amount of precipatation, makes California one of the most beautiful places on earth.
I'm not a liquidationist. Although, I do believe that the economy can suffer (and sometimes severely) as a result of economic mismanagement. Currently, GSEs have a lot to do with said mismanagement, and I believe GSEs carry global implications. Allocating 5 to 10 percent into gold/gold stocks is not the same as saying "sell everything." Gold offers a prudent protection plan against economic shocks. It's that simple. Do you see anything in the prescription above that resembles "the sky is falling"?
I see that you are full of well reasoned arguments today! d:op
Goldbugs don't understand deflation. Among other things.
Nothing so sophisticated as an "argument" is needed to expose goldbuggery.
The fiat dollar would still be the best investment heading into a depression. I said nothing about goiing into stocks.
Cash can be a good investment in a deflationary depression. But gold is by far the best investment when faith in fiat money evaporates, such as during a period of stagflation. You can always sell your gold for cash or stocks when the dollar begins to appreciate and stocks are at rock bottom prices.
I guess freedoms don't mean much when compared against weather then. ;)
If everything I owned got moved into California, I'd be a major felon several times over considering how much stuff is banned in commiefornia.
Enjoy the weather, I'll go enjoy shooting.
Some may be forced to bail. But if your home equity has been looted by exotic refinancing schemes . . . Look Out Below!
Sounds like something heard just before stepping in horse manure.
Perhaps because you have already admitted you are a mortgage broker? . . . "Living your life abundantly."
That's a lie, on many levels. I have made no such admission, nor could I "admit" a falsity, nor am I a mortgage broker.
But then again, nobody expects truth from you.
Fixed it for you.
Sorry about that, a certain FReeper told me that it's the rules to ping someone when you talk about them. Please see post #60.
Oh, I forgot. You are a novelist. Right? Have you found a publisher, yet? Yes? No? Maybe?
Is that supposed to be an admission that you lied?
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