I have always been a proponent of listening to the people who have generally been right all along about the housing crisis, while ignoring those who are generally wrong year after year (NAR, Mark Zandi, etc.) I pay extra attention to Mike “Mish” Shedlock who recently suggested that the housing collapse is near it’s end. [...]

Republished from Burbed. While the parent company of the Wall Street Journal, News Corporation, is getting a proper punching across the pond, let’s see how Rupert Murdoch’s business-as-usual cheerleader reports on the causes of The Second Great Depression. Twelve Facts That May Surprise You About the Housing Bust By Nick Timiraos, The Wall Street Journal, May 4, [...]

I’m not going to pick the bottom of the housing market just yet, but I am willing to concede that, for many people, it just doesn’t matter anymore. In some neighborhoods across the Bay Area, home prices may drift 10-20 percent lower over the next few years. In others, they could stay roughly flat or [...]

We’ve seen some seriously conflicting housing headlines recently… The data looks bad: Case-Shiller: Home Prices Continued to Fall in January Case-Shiller March Breakdown for San Francisco Bay Area RadarLogic: Housing Bottom Still Out of Sight Existing Home Sales Slowed in February Just How Weak Is The Demand For New Housing? The median price of Bay Area homes sold in [...]

Here is a graph showing home prices in Napa, Oakland, San Francisco, San Jose, Santa Rosa, Stockton, and Vallejo through the housing bubble and bust. Hat-tip Patrick.