Man, that looked like "Tired House Price Indices".

hey get outta my way, im an investment banker, let me take my rightfull place...not first

In Sacto of all places, hoocoldaanode (sp?)  /end snark...

Equilibrate?
 
Is that possible when our eCOnomy and political systems are equiliBROKE? 

I remember the realtors shouting that desirable areas like San Francisco would never decline in price. Oops

r
I grew up in Solano and liked it well enough -- the southern end was blue-collar burbs for the local military bases and the industrial base in northern Contra Costa, across the water. The northern end was all ag and food processing, with one air force base.
 
Have gone back to Vallejo a couple of times in recent years and checked out the old neighborhood -- 60 year-old houses now , but still maintained and hanging tight.  Partly because it's a good location -- in the middle of schools, parks, nearby library, etc. It looks better than when I grew up.
 
But past what used to be the "edge of town" are now literally miles of tight-packed houses and condos on cramped lots, shoddily built with no civic facilities nearby.  They were practically turning into slums as you watched, even before the big subprime collapse. 
 
Fairfield's like that, too, up in north county.  Miles of ag land covered with anonymous tracts, largely for commuters. 
 
Frankly, I expect prices in these subprime areas to continue to collapse.  They won't equilibrate with SF and the inner Bay Area.  They'll continue to go below.  Because, absent easy credit and the promise of quick appreciation, there's no reason for them to be there.  I doubt there's enough local economic activity to support them all, long-term.

Looking at money flows, some of the biggest selling on strength today is for IEF, SHY and IEI...just sayin'
 
 
http://online.wsj.com/mdc/public/page/2_3022-mflppg-moneyflow.html?mod=mdc_leader

a nice 12:30 sell off... (PST)
 
BBAD everywhere
 
..............

r
Well I live in the "budget belt" of CA and here is what I see in my neighborhoods and as someone who watches the markets. Prices in the better neigborhoods dropped from Oct to Jan. Now is the spring bounce and the properties who stopped their once a month reductions or raised prices to take advantage of the stimulus monies are sitting with little traffic.
 
Now there are properties that have gone in and out of pending since last june and about 40% are back on the market - some with price cuts and some without. Homes held by the GSEs are priced stupidly but at least they hold little interest for the speculatards.
 
Job losses here are bad and aren't reflected in the unemployment numbers.  Many people have had to take work at a fraction of their previous wages just to keep food on the table. I wish I had the math to guessimate the multiplier effect on the loss to local money movement. Business shuttering everywhere but CRE especially retail was severely overbuilt so this had to happen.
 
Of course, the attractiveness of the region is going down as crime rate goes up. What were once upscale neighborhoods are now being rented out as section 8 housing just to keep tenants in. My little culdesac is either owned by city or county safety workers or are in default. I can just see someone trying to squat in the wrong house and staring into a service revolver.
 
I'm guessing that the people buying (or trying to buy) are monied folks from the BA. Yesterday, I had two suits stop me to ask about the house next door which is vacant and in default. Plate frame was an advert for a RE co in Palo Alto. I took great joy in misdirecting them to an overseas asset management firm. I hope they have fun burning up the cell minutes and working hours on hold.
 
Back to enjoying the slight breeze off the lake, playing with the dogs, the sounds of song birds, and a little victory gardening on my day off >; )
 
 
 

CR - Instead of "real adjusted" do you mean "disinfaltion adjusted"

Whoo, hoo!  Doubbled-down on my FAZ at exactly the right time.

EHP - way less thought...

EHP,
 
What about options on the leveraged ETF's? lol

"A 165 speeding infraction"
 
Sh*t girl slow down... whats the rush? LOL!

ATM card,
good find. seems to be a second story after Fritz's initial comments. Only Reuters has it so far.
 
Has got to qualify as a watershed moment

wtf
Reuters website has replaced the GM bankruptcy by June 1 (end of govt grace period), and now has some fluff "breaking news" bit about the indices closing up 1%

Senate Panel Approves Bill Limiting Credit-Card Rates (Update2) 
 
This is definitly inflationary right? LOL!
 
Who is going to support the economy now?

"You can thank the never-ending increases in CRA goals for that."
 
CRA is such a tiny piece of the pie that I find that hard to belive, although the (R) would like you to belive that.  Otherwise this debacle clearly falls on their watch and has their fingerprints all over it.
 
Community Reinvestment Act - Wikipedia, the free encyclopedia 
 
"Some legal and financial experts note that CRA regulated loans tend to be safe and profitable, and that subprime excesses came mainly from institutions not regulated by the CRA."

CRA only requires that lenders must use the same lending standards (income, assets, down payment) for the rich zip codes, as the poor.  It was the banks that ran out of prime borrowers and started reducing those standards to keep the ponzi going, NOT the CRA.  CRA is NOT subprime.  Defaluts in CRA banks were lower than non-CRA institutions.

ghostfacedinvestah
Don't have the time to get into it now, maybe someone who remembers one of my posts on why subprime didn't cause the real estate bubble can chime in.
 
But I will put it this way, do you think minorities are responsible for the $13tn+ outstanding in mortgages? The 19mn and growing vacant housing units?

Well, today was a 3 new foreclosure day.  One in the morning, one faxed, and one in the afternoon.  And a closing not closing day.
 
The saddest was the afternoon one.  Heavy equipment operator, who knows nothing else, with no work, or rather half time work.

Blackhalo,
Hardly even matters. I remember reading Freddie and Fannie were in the practice of borrowing quota-type loans from the private market, just to have on their books during the reporting period (a few days each quarter)