Open Forum (4/19- )

By Dave Fratello | April 19th, 2010
The "Open Forum" is for news clips from various fronts, as well as off-topic discussions, so let's begin with a few news clips of note:
  • Easy Reader's cover story on the S. Bay RE market – It's hard to generalize about real estate markets, a point driven home by the Easy Reader's attempt to capture what's going on and what's coming up in the beach cities' markets. The story, "High-End Headaches," features some cheerleading, some skepticism and a finance professor's point of view. There's this from often-bearish, foreclosure specialist Leo Nordine, speaking of the housing market broadly, not just the South Bay:
Nordine said the overall housing market rests in a state of artificial grace, suspended from a second freefall by lenders who don’t want to foreclose, and government officials who also don’t want them to.

He said the somewhat cheery home price statistics are illusory, and he foresees a second wave of foreclosures once artificial protections are lifted. Such a wave could glut the market with homes for sale, driving supply higher than demand and sending prices down again.

“I think the economy is still really soft, and the market is soft,” he said. “Now it’s holding steady,” he said. “The banks are trying hard not to foreclose.”
  • Where'd El Porto go? – MB Patch also has a good piece pointing to the wintertime washout of much of the sand along El Porto and points north by the power station. Some of it's coming back, but Summer will be the real test. Hey, Waikiki, what's the going rate for getting our sand back?
Comment on these, or any, news clips or topics, in this "Open Forum." Just keep it clean.

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