Author Archive: Irvine Renter

The individual county or metro reports are available free below: Orange County, September 2018 (click here) Irvine, California, September 2018 (click here) Los Angeles County, September 2018 (click here) San Diego County, September 2018 (click here) Riverside County, September 2018 (click here) San Bernardino County, September 2018 (Click here) San Francisco Metro, September 2018 (click here) San Jose Metro, September 2018 (click here)[READ MORE]

I updated the monthly housing markets reports for August 2018. The individual county or metro reports are available free below: Orange County, August 2018 (click here) Irvine, California, August 2018 (click here) Los Angeles County, August 2018 (click here) San Diego County, August 2018 (click here) Riverside County, August 2018 (click here) San Francisco Metro, August 2018 (click here) San Jose Metro, August 2018 (click here)[READ MORE]

We updated the monthly housing markets reports for April 2018. The individual county or metro reports are available free below: Orange County, June 2018 (click here) Irvine, California, June 2018 (click here) Los Angeles County, June 2018 (click here) San Diego County, June 2018 (click here) Riverside County, June 2018 (click here) San Francisco Metro, June 2018 (click here) San Jose Metro, June 2018 (click here)[READ MORE]

We updated the monthly housing markets reports for February 2018. The individual county or metro reports are available free below: Orange County, February 2018 (click here) Los Angeles County, February 2018 (click here) San Diego County, February 2018 (click here) Riverside County, February 2018 (click here) San Bernardino County, February 2018 (click here) Ventura County, February 2018 (click here) San Francisco Metro, February 2018 (click here) San Jose Metro, February 2018 (click here)[READ MORE]

We updated the monthly housing markets reports for January 2018. The individual county or metro reports are available free below: Orange County, January 2018 (click here) Irvine, California, January 2018 (click here) Los Angeles County, January 2018 (click here) San Diego County, January 2018 (click here) Riverside County, January 2018 (click here) San Bernardino County, January 2018 (click here) Ventura County, January 2018 (click here) San Francisco Metro, January 2018 (click here) San Jose Metro, January 2018 (click here)[READ MORE]

Politicians favor home ownership because it serves as a proxy for retirement savings; however, unrestricted mortgage equity withdrawal defeats the purpose. Politicians provide many reasons for supporting home ownership through policy initiatives and outright subsidies, but one of the primary reasons they support home ownership is the forced savings account properties of an amortizing mortgage. History has shown that homeowners have more comfortable retirements than renters, and an abundance of home equity is one of the main reasons. A mortgage broker is a person who works for a single creditor only. He/she functions as an independent contractor to enable quite a few different lenders to find excellent deals and the very best interest rates on the loans they offer.…[READ MORE]

People who live in houses they don’t pay for are viewed as folk heroes by some and contemptible deadbeats by others. Have you noticed that most of the human interest stories from the housing bubble have no heroes? The housing bust has brought out the worst in mankind. Every party involved seeks to avoid any financial responsibility while simultaneously looking for ways to game the system to their advantage. The cast of characters includes lenders, realtors, delinquent mortgage squatters, holdover tenants, mortgage brokers, basically anyone involved with real estate. Are delinquent mortgage squatters heroes fighting the system or deadbeats gaming the system? These people quit paying their mortgages, many quit paying several years ago, and banks are either unwilling or…[READ MORE]

Higher home prices without higher wages makes housing unaffordable and only benefits existing homeowners and the bankers they owe money. What good came from the recent house price reflation rally? Did it stimulate the economy? No. Did it put millions of unemployed construction workers back to work. No. Did it stimulate housing sales? No. politicians and the federal reserve promised economic expansion and acceleration; however, so far these great benefits from higher home prices remain elusive. So why isn’t the economy improving with higher house prices? The increase in home prices came with no increase in wages, so now houses everywhere are more expensive, and average Americans need to spend more of their income on housing, which makes less available to…[READ MORE]

Rather than exacerbating a problem with homelessness or creating a mass migration, most people who lost homes in foreclosure stayed in their neighborhoods. What happened to people who lost their house in foreclosure? Did they end up homeless and destitute? Did they resort to a life of crime or prostitution? Was foreclosure the end of modern civilization as we know it? People who tried to prevent foreclosures proffered all of these fallacious reasons why we needed to stop foreclosures and give delinquent borrowers principal reductions or free houses. The reality is, most people who lost their homes in foreclosure moved into a nearby rental — and many were financially better off with a lower cost of housing in something they…[READ MORE]

Based on the moral hazard from lessons learned from the last housing bust, future housing declines will experience very, very low sales volumes. What lesson did lenders learn from the painful losses from the housing bust? Did they learn they shouldn’t peddle toxic mortgages? Nope. Did they learn they shouldn’t give loans to unqualified borrowers? Nope. What they learned is that no matter how foolishly irresponsible their lending gets, they will get bailed out by government cash and federal reserve interest-rate policy, and they can avoid mortgage default losses by loan modification can-kicking until prices rebound. As long as they don’t foreclose and resell for a loss, they can amend-extend-pretend their way out of any lending disaster. That’s really what…[READ MORE]

Monthly Housing Report

In Memoriam: Tony Bliss 1966-2012