Tuesday, January 3, 2012

Krugman: Obama, Romney, Jobs

Paul Krugman posted this chart today that really says it all.
Greg Sargent is rightly outraged by Romney’s claim that Obama is a job destroyer ... Does this look to you like a president who “lost jobs”, or like a president who inherited an economy in free fall? You can accuse Obama of not doing enough to promote recovery — and I have (although the biggest villain here was Romney’s own party). But to claim that Obama caused the job loss is indefensible.
(There's so much to say in this election year, I think you're going to be hearing rather more from me.)

Sunday, January 1, 2012

Low-end 90402 and 90405 sales in 2011

Ah, Redfin. I used to manually track and report listings and subsequent sales for Santa Monica 90402 and 90405. Now it's as simple as putting a zipcode into Redfin, selecting sales within the last year, and sorting by price.

So here are the 2011 sale prices to $1.75M in 90402 on the regular streets (omitting busy 7th, 26th, and San Vicente). Conclusion is there's little low-end, and it's continued to hold between $1.6M and $1.7M since the crash.

Address, bed/bath, sale price

210 21st Pl., 2/2, $1,625K
620 17th St., 2/1.75, $1,650K
533 10th St., 3/2, $1,692K
828 Georgina Ave., 3/2, $1,693K
220 12th St., 2/1.5, $1,700K
434 17th St., 3/2, $1,725K
620 15th St., 3/2, $1,730K
445 18th St., 3/2, $1,747K

And here are 2011 sale prices to $900K in 90405 Sunset Park, omitting busy streets (Ocean Park, Pearl, Marine, 11th, 14th, 17th, Cloverfield, 23rd), 40-foot-wide lots, and airport-adjacent.

Here I'm seeing a continuing price decline, with quite a few sales below $800K, in contrast to even two years ago, let alone peak Ashland and Hill sales prices 2005-2008 well over $1M, and Hill Street back to 2004.

1514 Maple St., 2/2, $675K
1337 Grant St., 2/1, $675K
1741 Cedar St., 3/1, $730K
2345 21st St., 4/3, $750K
2025 Ashland Ave., 3/2.5, $770K
2940 16th St., 3/2, $775K
1109 Maple St., 2/1, $798K
1114 Maple St., 3/1.75, $814K
2315 27th St., 2/1, $825K
2417 18th St., 4/2, $849K
1044 Maple St., 3/3, $873K
1808 Ashland Ave., 3/1, $875K
2216 Pier Ave., 4/2.5, $880K
2255 22nd St., 2/1, $900K