The Big Enchilada – Prices in LA Co. dropping at 19.2% Annual Rate

Jas Jain has been saying the housing market in Santa Clara Valley would drop for a decade. My house would have to fall by 50% to reach the price it was when I first met Jas Jain and he told me property prices were going to crumble.

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Subject: The Big Enchilada – Prices in LA Co. dropping at 19.2% Annual Rate
Date: Wed, 16 Jan 2008 16:59:39 -0800
From: Jas Jain

--The Big Enchilada – Prices in LA Co. dropping at 19.2% Annual Rate

According to Radar Logic, the price per sq ft (PPSF) of homes recorded in 4 weeks ending on 11/14/07 in LA Co. fell at an annual rate of 19.2% during the 7-month period (mid-Apr to mid-Nov).

That is a big enchilada, folk.

As the Scam Market turns nasty, the Silly.con Valley will see 25%+ annual rate drop in prices. The Chosen Area syndrome has to end one day. The Crooks’ Game, including Scam Options, will be ending and they were the ones buying into the Chosen Areas. The Chosen Areas are full of Crooks and their underlings. This also applies to Manhattan.

Jas

All that time I've lived here in Los Altos, since 1994, I have saved the cost of renting. Had I listened to Jas Jain's "real estate advice and predictions" back when I met him in 1998, I would have missed a near double in equity.

Add all the money saved by not renting to the equity I have gained and I just chuckle when I read his posts and emails about the crash in Silicon Valley (and Manhattan for that matter) real estate.

Jas Jain Rewrites History

Jas "forgot" to mention in this email that he has been forecasting a "depression right around the corner" every year I've known him... dating back a decade to 1998!!!

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Subject: Bloomberg: “Worst Start For the Dow Since 1904”
Date: Fri, 4 Jan 2008 16:41:00 -0800
From: Jas Jain

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Bloomberg: “Worst Start For the Dow Since 1904”

Holy Pig!

S&P 500 has given up all the gain of 2007 in the first three trading days. It closed at the same level as on 12/22/06.

What if 2008 ends up being the worst year since 1904? And 2009 worse than 2008! Who knows how long can the record continue.

It is lucky to take care of after-tax annual expenses in the first three days of trading, at least on paper. :-) It could turn out to be the case of easy come easy go.

I have been forecasting depression during 2008-10 and I feel confident about that forecast based on the recent developments.

Jas

Twice a day a stuck clock is right. How often is a the yearly "depression forecast" correct?