Real Homes of Genius All-Star Edition: Today we Salute you Compton. Investigating 3 Blocks of Housing Bubble History and Hundreds of Thousands of Dollars Lost.
Much was made on Tuesday that the Case-Shiller Index showed a positive increase for the first time in many years. This of course was for nationwide data and did not take into account seasonal adjustments. However, there is noticeable change going on. Yet the Los Angeles and Orange County data point was still trending lower. Not exactly good news as we look into the exotic mortgage zoo with our Alt-A and option ARM waste. On Monday, the big jump in home sales was led by the median price dropping by $13,000 but the media was spinning this as some kind of sign that housing bubble version 2.0 is around the corner.