Shocking News: L.A.’s housing market overvalued

The LA Daily News reports this unheard bit of news – L.A.’s housing market overvalued. The story also goes on to say, get this, that it wasn’t always over valued. Even more shocking – previously it was undervalued! But wait, there’s more. Apparently this kind of thing happens all over the country, where homes that are undervalued later become over valued, or not.. sometimes they stay under valued! OMG! And the final bit, which is going to send waves of terror through real estate developers everywhere… there’s no sure way to know what’s going to happen next, it’s all speculation! Holy Crap!!!

3 Replies to “Shocking News: L.A.’s housing market overvalued”

  1. Hold on a minute.

    Let me get this straight, houses are sometimes under valued and then go up in value to become over valued?????? Or, they could be over valued and then go down in price to become under valued??????? CREEPY MAN

    Wow, I never knew prices went up and down like that!

    It’s a good thing we’ve got top notch news reporting here in helLA to make all this clear. Next thing you know they’ll be reporting about those movies with sound and that 2+2 does indeed = 4.

  2. This is truly a profound observation. Who are these folks that rush out to pay top prices? And who is encouraging them to do so? The answer to these questions will provide a lot more insight as to what is happening. Is there anyone out there with some answers?

  3. All I know is that the approximate-1,800 square foot dump (albeit with a fresh coat of paint and some polished hardwood floors) two doors down from us in Silver Lake south of Sunset is listing for $870,000. It’s frickin’ lunacy!

    From my feeble understanding a lot of people are buying crap like that at prices like that because of the “interest-only” loans and 100% financing that’s being arranged.

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