"DSK" wrote in message
news
Calif Bill wrote:
The California people have not lost money.

Yes, a lot have. Especially people who took cash out of their "increased
equity" by refinancing, and then either got laid off or got the loan
called. Or those who got laid off and had to sell.



That is not losing money! They gambled on permanent, high payed employment
and took money out. It is not free money, they still had to pay it back.
They got the money! That is not losing money. They had to sell the house,
but they got the money.


... May take a little longer to
sell, but the prices have not gone down.

You have your head stuck in the sand, too. Do you have

I have several relatives & close friends who are in the real estate
business in California, and another associate who is an REIT manager and
does a lot of business there. The decline in value is not really a crash
(although it looked like it was going to be a BIG crash for a while) but
it's definite.


... Since the guy and his partners are realtors, they seem
to know a value.

Are they as full of malarkey as you are, Mr Moderate Democrat?

DSK


Well, since the sales prices of most houses in California are not
decreasing, but increasing, maybe slower than during the boom years, you
relatives must be really bad realtors. It is you ultr-lefty Dem's that are
full of malarkey. Is why the Democratic party is in trouble.