| Homeowners' big question: How low will prices go?
Southern California home prices have fallen for five straight months, according to data released this month, and are now down 12% from their peak last spring and summer.
For most of this decade, skyrocketing home values were a frequent topic whenever people gathered along soccer sidelines or at backyard barbecues. But the conversation has taken an about-face, noted Jeff Vendley, a Ventura mortgage broker who is trying to sell two Oxnard town houses he bought in 2004 and 2005.
Now, he said, people are wondering, "How low we can go?"
No one knows how severe the slump will be, but economists and real estate experts interviewed by The Times, and who were willing to make predictions, said prices could fall 15% to 25% before turning back up.
Most said values would continue falling through at least next year, and some thought the market wouldn't reverse course until 2010.
The Michael
My sister was playing Dr. Mario on the gameboy and I was playing with a laser pointer. I had forgotten how much fun it was to play with the laser pointer, because I played with it for quite a while. Things I did with the laser pointer: I spun around in the computer chair with the laser in hand making squiggles on the wall. Lifted the window shade to see how far I could shine the laser outside. Shined the laser on the gravel at the bottom of the fish aquarium. The fish actually tried to eat the red dot! Made cool laser light shows by shining the laser on different shiny surfaces. If you need something to do tonight find a laser pointer. .
Tata Motors rolls out Nano, the world's cheapest car
India's Tata Motors on Thursday unveiled its much anticipated $2,500 US car, an ultra-cheap price tag that brings car ownership into the reach of tens of millions of people. Members of the media look at a newly launched Tata Nano car at the 9th Auto Expo in New Delhi on Thursday. The ultracheap car — $2,500 US — suddenly brings car ownership into the reach of tens of millions of people around the world. (Saurabh Das/Associated Press) But critics worry the car could overwhelm the country's roads and create an environmental nightmare. Company chairman Ratan Tata, introducing the Nano during India's main auto show, drove onto a stage in a white version of the tiny four-door subcompact, his head nearly touching the roof. With a snub nose and a sloping roof, the world's cheapest car can fit five people — if they squeeze.
Growth can be a nightmare
They put in months of time and effort to draft a comprehensive vision plan to improve this part of our city. It would make a mockery of their hard work and dedication to approve a project that would compound the poor planning that caused this location to be the problem it is today. Let something more acceptable be built to provide jobs.San Marcos, Vista and the Oceanside Planning Commission got it right when they turned down the Robertson's Ready Mix plant. Let's hope our City Council has the wisdom to do the same.Harriett BledsoeOceansideA thorough investigation is in orderIn light of recent revelations about Philip Zelikow's undisclosed White House ties, a fresh look at all the commissions and issues surrounding this administration is due ("9/11 panel member close to administration," Feb.
Flooding in S.J. courthouse has caused over $200,000 in damages; cost ...
Last week's flood in the main San Joaquin County courthouse left between $200,000 and $300,000 worth of damage in its wake, officials said Wednesday.About 15,000 gallons of water poured out of a pipe into a construction area on the fourth floor of the Stockton courthouse Feb. 13, and water soon began soaking through the floor. It damaged the third-floor ceiling and poured down elevator shafts, and everyone in the building was evacuated.The exact cause of the flood is still under investigation, said Karen McConnell, public information officer for the county. Whether liability rests on the county or on contractors will not be determined until the investigation is finished, she said.On the morning of the flood, Safety and Risk Manager Richard Pietz said a pipe was left open in an area where the air conditioning system was being replaced.
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