CHESSNOID

I guess it could be like a PollyAnna game where you are glad that things for what you do have because it could be worse.  It is good to focus on all the good things in your life that way you appreciate them more, and not focus on the bad things in your life which will put you in a rotten mood.

California real estate can be like that.  We have so many foreclosures which is not good, but many people who are able to buy them are getting great deals.

Bloomberg:

California single-family home sales rose 83 percent in November and the median price fell below $300,000 for the first time since 2002 as buyers bought properties in foreclosure, the California Association of Realtors said.

The number of existing single-family detached homes sold in the most populous U.S. state last month increased to 514,710 on an annualized basis, from 280,920 a year earlier, the Los Angeles-based association said today in a statement. Sales decreased 7 percent from October. The median home price dropped 42 percent to $285,680 from $490,511 a year earlier.

“Statewide sales registered a monthly decline for the first time since the first quarter of this year, reacting in part to the worsening situation in the economy, the financial sector, and in terms of consumer and business confidence,” James Liptak, president of the association, said in a statement. “Despite the month-over-month decline, sales were above the 500,000 home level for the third consecutive month.”

Tumbling home values are spurring sales in California, which had the most foreclosure filings of any U.S. state and six metropolitan areas among the top 10 highest foreclosure rates in November, RealtyTrac Inc., a seller of default data, reported Dec. 11.

I don’t actually believe the numbers that are put out because they always seem to be adjusted later. I like the idea of focusing on positives in a situation, but if you are deceived or misinformed, you tend to make bad decisions based on bad data. You know, like the Weapons of Mass Destruction that didn’t exist.

We spent billions of dollars on a war that didn’t make sense or have no justification, but I guess the good news is that the WMDs didn’t exist and they really couldn’t have attacked us. I don’t think I am very good at the glad game yet.