patrick.net

It is 35% for OC. I wonder it is the highest record for a county in US?

http://lansner.ocregister.com/

Sounds like it's time to get out the wish lists. IMO

Cmon your parents must be sick of you guys already... move out !!

But seriously unless u do live with your folks don't get fooled by the people who told you it was a great time to buy and now are telling you how smart u were for not buying.

Do the math ! I'm telling you there are some steals out there.

My Grandparents bought their land and home in 1937 and my loser relatives are still living off of that purchase. Find a place that screams buy and buy it and have some kids and grand kids and great grand kids :)

While there are a lot of worrisome statistics coming out recently, this should be interpreted with some context.

*New home sales of single family homes dropped from 41K in April 2010 to 26K in May 2010 to 29K in June and 25K in July. They sold 4K less new SFH homes in July than June.

*This is an index of new single family homes. The places with all the single family homes inventory are in the suburbs and exburbs. The last places we need more new SFH are in places like suburbs and exburbs anyway. Guess how many new SFH homes inventory are in San Francisco, penninsula, Lamorinda,etc, essentially none. This is an exburb index.

* New home sales is down because new homes available for sales has been down in all classes, un-built, under construction and completed. There is about 204K of supply, about 80K of which is in completed status (about 50% are sold in completed status), 33% lower than last year.

* Because of the low level of construction, existing homes sales outnumber new homes sales 10-1 to 15-1 making the impact of this index not as important. It is important in the fact that construction jobs and related are not coming back, and therefore job recovery will not be back.