Saturday, December 29, 2007

Great links

Today's Market Ticker, "The Year In Review And a Look Ahead for 2008" is a must-read. Long, but says it very well.

On the lighter side, see Burbed.com's "Redwood City house that needs to be tinted due to termite damage" and "SFGate: Bay Area is too Expensive. ...".

The former documents a house listed in July as "BEST VALUE IN RWC!!!! IMMACULATE HOME, RECENTLY REMODELED! CHERRY KITCHEN CAB, HARDWOOD FLR ENTRY, LAUNDRY IN BACK, ..." for $515K.

It's now "3rd bed 2nd bath no permits, roof needs to be replaced, lots of termite damage, needs to be tinted. lots of code violations.laundry in back no permits. ..." for $399K. Whew, talk about a failed act of attempted flipping!

The second documents a Daly City listing's fall from $850K in January to $639.9K in August to $514.9K in December. This could be a taste of the Westside in 2008, when we too are no longer so special.

3 comments:

SACKERSON said...

I'm impressed with Karl Denninger. House prices have doubled in the UK in the last 7 years, and all that means is that we're where we were in 1999, but worse.

Do you think Governor Schwarzenegger will find a way through for California? He seems to me to have strength of character, at least. (And he made his first fortune in property, I believe!)

Mikey said...

Ahnuld is a clown. All he has done is the equivalent of a series of neg am loans.

Westside Bubble said...

I remember Arnold campaigning that he was going to 'cut up the credit card' for California. But he then borrowed hugely instead of face our structural deficit.

His current call for across-the-board cuts, but subject to relief if that creates the political will to raise some taxes, may be a politically astute improvement.