Timing the housing market is important. Pundits make predictions all the time, and mostly they are wrong. It’s rare to find an analyst who has the foresight to see a change in the market and the courage to act on their insights. Mark R. Kiesel, a Pimco fund manager, is one such analyst. Back in 2006, he posted For Sale and Still Renting on Pimco’s site (no longer there), a detailed analysis of the housing bubble and the reason for [Read More...]
I still rent. I own investment properties, but I still rent my primary residence. In all likelihood, the properties at the mid to high price points common in Irvine will continue to come down over the next few years, so there is little urgency. I am enticed by the low interest rates and the historically low cost of ownership, but there are advantages to renting that shouldn’t be overlooked. There are two good reasons to rent in today’s market: (1) [Read More...]
The OC Housing News profiles properties for sale each day and presents current market data on each city in Orange County. If you really want to know what’s happening in the OC Housing market, you need to read the OC Housing news and subscribe to the our monthly newsletter. Redfin is the most popular real estate search site in Southern California. They track the most popular listings based on the number of views each receives. Below are some of the [Read More...]
Huntington Beach Overview Median home price is $456,000. Based on a rental parity value of $582,000, this market is under valued. Monthly payment affordability has been improving over the last 10 month(s). Momentum suggests improving affordability. Resale prices on a $/SF basis declined from $318/SF to $311/SF. Resale prices have been weak for 12 month(s). Price momentum suggests weak prices over the next three months. Median rental rates increased $0 last month from $$2,458 to $$2,458. Rents have been slowly [Read More...]
The OC Housing News profiles properties for sale each day and presents current market data on each city in Orange County. If you really want to know what’s happening in the OC Housing market, you need to read the OC Housing news and subscribe to the our monthly newsletter. Redfin is the most popular real estate search site in Southern California. They track the most popular listings based on the number of views each receives. Below are some of the [Read More...]
The OC Housing News profiles properties for sale each day and presents current market data on each city in Orange County. If you really want to know what’s happening in the OC Housing market, you need to read the OC Housing news and subscribe to the our monthly newsletter. Redfin is the most popular real estate search site in Southern California. They track the most popular listings based on the number of views each receives. Below are some of the [Read More...]
Huntington Beach Overview Median home price is $460,000. Based on a rental parity value of $582,805, this market is under valued. Monthly payment affordability has been improving over the last 9 month(s). Momentum suggests improving affordability. Resale prices have been falling for 12 month(s). Price momentum suggests falling prices over the next three months. Resale prices that are falling generally causes payment affordability to increase. Rents have been slowly rising for 12 month(s). Price momentum suggests slowly rising rents over [Read More...]
When I first started writing about the housing market in 2007, I gained attention by making some outlandish predictions about the housing market. I was one of the few who publicly made the case for a crash in housing prices. I laid out the case, provided my reasoning, and stood by my predictions. I reviewed my results in early 2011 in Predictions versus reality: Irvine Renter’s track record. Today, I want to take a another stroll down memory lane and [Read More...]
The loan limit on FHA loans is now $729,750. The venerable FHA which was founded to provide loans for low to middle income Americans is now being used to subsidize the mortgages and the house prices of high wage earners in places like Irvine. The government should get out of the housing market. Even the government knows this, but when removing its support causes house prices to weaken, so does the resolve of those in government to get out of [Read More...]
Astute Observations