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This is the HERD MENTALITY. Sammy and Niner are the exceptions. Sammy being in the energy industry know what the failure of Prop 23 is going to do to CAli. Niner has a commercial RE plan, and as such the equity he risks is offset by income. So we shall see the veracity of his thinking in 10 years. For the rest I would suggest U stick to your day jobs..

Don't U fking get it the reason why RE prices are still not falling is that the Banks have a Shadow Inventory of homes that they have foreclosed on that ARE NOT UP FOR SALE apx 2,000,000 homes worth . Right now apx 25% of ALL HOME MORTGAGES ARE UNDERWATER..that means that people owe more than the home is worth. THIS IS A TIME BOMB WAITING TO GO OFF.

Secondly..OHHH YES interest rates are going to go up and the rates are about as cheap as they are going to get. what a fking joke this is..for someone to say now is the time because interest rates are low...Ahhhh what happens to prices WHEN and not if INTEREST RATES GO UP? It does make an already tough loan market even tougher and it will put pressure on prices.

This fking morning the 30 year Bond went from 4.2% to 4.3%....the biggest jump in the past year or so.

People really have to stop thinking about homes as an investment, but as a living EXPENSE. You have been conditioned by the past 30 years of one bubble economy after another. So most of you are not fking old enough to remember when a house was just a home and not a piggy bank.

And Cali being an International destination, NOT WHEN those foreigners get wind of CAlis CAP & TRADE policy and the ramifaications there of...Ohhhh yeah and the state of the budget in Cali...CALI IS FKING BROKE and in the next year or so is going to have to go to DC with hat in hand begging for a bailout (this is along with CT, NY, MI & IL) The Republicans are going to tell em to pound sand...to bust the Public Employee Unions...or go live in the shyte pile of the Liberal utopia Cali created.

BTW Don't U people get it...Corporations are spending money on Capital improvements in things that will replace having employees. So what America is doing is creating a large underclass of unemployed people. Not only that the estimable Tom Friedman of the NYT fame said that Ameircans are going tohave to be 10 times as productive as a Chinese employee, or 1 American is going tohave to be able to be as productive as 10 Chinese workers. This is in order to be worth being paid the wages Americans are used to making. Somehow I just don't think it is possible for 1 American Woker to be able to do the work of 10 Chinese, unless of course an American worker can work more than 24/7/365.