L.A. County median home price ties record high as housing market sizzles

[jm1982]

Also these predictions don't take into account things like a stock market crash , recession
Or massive layoffs ,etc .

People are just saying it's different this time because the loans people have now are more solid.
There's a lot of other moving parts though when one looks at the bigger picture .

[JustMike77]

Yet another lovely aspect of my business. When prices are soaring, I'm working for buyers and mortgage lenders. When prices are crashing, I'm working for banks. When there's a big earthquake (1994), I get paid to re-inspect every home I've appraised in the past 90 days. It's all good.

One word of caution if you're buying in this market (silly wabbit). Get the loan that you want FOREVER. Prices and interest rates are related, eg. if current rates were 6%, prices would not be this high. Therefore, when rates eventually DO rise to 6%+ you might have difficulty refinancing as values will adjust with the interest rate. I've seen this happen before, it's one way that people get in trouble.

[LoveMeSomeSFVHouses]

He did take a look at all industries and not just housing.... but all this was also before the election and no matter what side you're rooting for, I think everyone can agree that it's been a disruptor. I hear Frank-Dodd is slated to be essentially repealed so I'll be curious to see what happens to lending in the long term. That'll certainly affect the stability of lending as well.