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moneymaker
11 years ago

Excellent graphs and
Excellent graphs and analysis. I don’t think that this can continue without a pop somewhere. Looks like many of the foreclosures have worked through the system. With no increase in sales and dimishing supply I think the market becomes more prone to erratic moves (which way is hard to say) the odds are something will change soon. I wish data was available for the last bubble,to see if the fuzzy correlation worked then too.

MistaVista
11 years ago

I agree Money maker something
I agree Money maker something has got to give. I go back and forth over whether I should try to purchase anything just to have something that will gain equity and allow me to work my way up market or to continue to rent and save. I just don’t see the current prices lasting. When homes are going for $500k in east Clairemont, It leads to flashbacks of 2006. I feel as if I have been priced out of the market in the last 6 months alone. The bidding wars are out of control and the inventory is non existent. Its not easy looking for a starter home with a young family these day and its even more difficult determining what side of the fence to jump to in a market that seems unstable.

SD Squatter
11 years ago

I wonder how is the San Diego
I wonder how is the San Diego house affordability now. The latest graphs by Rich are over a year old:

http://piggington.com/shambling_towards_affordability_november_2011

spdrun
11 years ago
Reply to  Rich Toscano

Meanwhile, I’ve seen a few
Meanwhile, I’ve seen a few investment condos (1’s and 2’s) that are still decently priced, and have got accepted offers on two, all in the last few months. It’s much easier when your only criteria are a non-scary neighborhood and the possibility of 7.5+% cash flow.

Perhaps the best plan these days is to buy purely for cash flow and use the cash flow to rent something wherever you want in the County. (Or really anywhere in the world…) Non-investment property just ties you down.

SD Squatter
11 years ago
Reply to  Rich Toscano

Rich Toscano wrote:SD
[quote=Rich Toscano][quote=SD Squatter]I wonder how is the San Diego house affordability now. The latest graphs by Rich are over a year old:

http://piggington.com/shambling_towards_affordability_november_2011%5B/quote%5D

It’s on my list… :-)[/quote]

๐Ÿ™‚

sdduuuude
11 years ago

I’m wondering, adjusting for
I’m wondering, adjusting for inflation, in what year did housing prices first hit the current level ?

spdrun
11 years ago
Reply to  sdduuuude

Where? San Diego city? SD
Where? San Diego city? SD County? North County? The whole country?

Jazzman
11 years ago
Reply to  spdrun

Are there any data that shows
Are there any data that shows the trend for REOs to other sales, and how the tiers behave. I’d be interested in knowing the numbers that support where it has gone. Looking at these charts, it can’t be ordinary sellers because a) what makes 2012 so different from previous years, and b) did they all suddenly collude? A wild guess says the dearth of inventory points to 40% institutional investors syphoning off trustee sales, 40% lenders REO constipation, and 20% seller eternally-hopefuls.

sdduuuude
11 years ago
Reply to  sdduuuude

spdrun wrote:Where? San
[quote=spdrun]Where? San Diego city? SD County? North County? The whole country?[/quote]

Whatever Rich’s graphs cover.