Sonoma Housing Bubble

Pulling the cork out of Sonoma's bubbly housing foolishness

Tuesday, April 18, 2006

Score one for Marin Real Estate Bubble!

Marin Real Estate Bubble: It's Faster This Time?: (stolen from Housing Panic)

Actual quote from a lender insider: "Look at all the housing bubble blogs there are with all the reliable data they are providing. It's almost an avalanche of data supporting why all but the most ill-informed should not be looking to buy for at least 2 years."

Marinite scored a big fish commentary from the former marketing analyst for RTC REO at Home Fed Bank.

just a snippet from the marin real estate bubble's scoop...

"some people are going to become very alarmed and very angry when I discuss what happened the last time.When I left the RTC at HomeFed Bank in 1991, the RTC was in the process of closing down. It was the tail end of that cycle.While at the RTC, I personally sold bank REO for 20%-30% of what it appraised for just two and three years earlier. Not for 20-30% less, but 20-30% of that real estate's former value from just 2-3 years earlier."

Read the Rest


At 4/18/2006 09:44:00 AM , Blogger Marinite said...

Uh, in fairness the post that I link to was left at the Housing Panic blog (you can link to it via mine). I just read that blog is all.


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