I don’t think it’s really that easy to know what’s the best solution. We are in a global currency devaluation situation and the yen has already devalued 20%. Homes, if anything are a great inflation hedge and you already have a lot of people from China just trying to buy up all hard assets in the US like homes in LA, Bay area, San Diego, etc…

Also, if you have to rent in the area or what not, maybe buying is tons better than renting since at the low rates now, i wouldn’t be surprised if you calculated your NON-TAX DEDUCTIBLE mortgage payment maybe already lower than the cost of rent of the same home. I know for a fact that a house i live close to rents for MORE than my mortgage + taxes so you add in tax benefits and the cost to carry it is a joke. Then again, we bought a few years ago so many not at the moment for you, but for sellers recently, this is true.

There was also an article today in the ut saying northrop grumman is moving their drone hq to rancho bernardo I think. That’s not going to help prices and inv in the area…

My point is that you just have to do the math and think a bit more. You might be ok waiting 1-4 years, but what if the wait is 10 years? 20 years? I think most of us would probably agree that it’s a pain to rent and rents have been going up…a lot. House shopping also eats up a ton of time and is stressful. This is a bad time, but no one knows how long it will last. A ton of folks here bought the last few years already when it wasn’t such a sellers market. The thing with house buying is really, you just have to buy once…or only a few times if you move. Once you’re done, it’s not a concern for a while anymore.

It’s never good to rush into anything, but run the numbers and see how it stacks up. Interest rates are also very very low so you aren’t getting much from your hoard of cash savings that you probably shouldn’t invest, etc…which is getting killed from inflation.

I think FLU was saying his mortgage out in CV was closer to 2k/month. You can’t rent any SFH for that price really, not in CV or in Poway probably.

People keep saying watch out for interest rates to go up and everything will collapse, but I sorta don’t think this will happen. You’ll simply have a standstill since anyone who needs to refinance already has mostly done so. People buying now also had to put more than 20% down so they already have equity and can wait it out. Loans have been very hard to get and people who can get them are doing well. Even at 10% unemployment, you have 90% employment. Bay area, Los Angeles, QCOM is killing it driving prices higher…Stocks are also at all time highs making people wealthier.

If worst gets to worst, I think you’ll have more creative solutions where your buyer would just assume your loan through some outside contract or creative financing, etc…I think this was done in the late 70s/early 80s so I don’t buy people claiming utter collapse if rates go up…

With the whole world devaluing their currency, you may be in for a very very long wait as well.

Also, if rates do go up, most people would just keep their places and rent it out since it cash flows out and just not sell. Lack of inventory (like now) equals higher prices again leading to what we have now.

I think sometimes, it’s wishful thinking to see a plunge in prices from people who haven’t bought yet, but really just do the math to see if it actually makes sense. It might not if your rent cost is high and you value your time and are sick of looking.

All these housing bear forums are more quiet now because all the bears have bought recently…Even Rich here.