[quote=rockingtime]Just curious, How do you define coastal california ?
Would whole of SD be qualified as coastal ?
For my perspective, everything is cyclical and nothing keeps going up for ever. This gives us opportunity.
A lot of people tried to convince me otherwise about SD real estate in 2007, I disagreed with them and bought in 2011.
The first house I bought in 2001, I sold it in 2007ish..
I am sure, my current house valuation would come down with due time
My guess: Wages are going to be stagnant at best which would affect the housing prices as well.[/quote]
I don’t know. You seem to be set that things have to go down.
Again, I can say it can “eventually” go down too, but if it happens in 20-30 years, who cares? I’m probably dead already.
As Rich has posted, we are no where near any bubble levels of the 2005s and the stock market is near all time highs. This means like you and I’m sure many of the posters here, many have TONS of cash sitting on the sidelines not sure what to do about it.
I don’t know who or what they were disagreeing with you in 2007, but 2011 probably actually missed some of the upside in some areas. A lot of people here (you can see their posts) bought in 2009 and 2010 (we did in 2009).
As I’ve mentioned before, in some areas, wages for “those” people are not stagnant. They may get more of their income from stock options or stocks in general. People buying 600-1 mil homes aren’t making “middle class” household salaries I don’t think.
You also have foreign buyers. I don’t buy the collapse I read here due IMO, to rents. Rents are way too high in the areas I watch for housing prices to collapse. Add in low interest rates for people who bought those homes, low investment options in other areas, and you have most people not willing to sell for less than what they paid IF THE RENTS easily cover their holding cost.
As posted, supply still seems rather lowish from what I’m seeing.
All this is due to me only looking at areas I’d personally wouldn’t mind living in (1-2 miles from beach, CV…etc…)
No condos, east or south side as you lose the “asian” buyer I feel in those markets. Asians love real estate and you can tell from simply going to 1 new development opening in Carmel Valley. Last time I went to one, there were hundreds of people.
You bought in 2011 and I doubt any of us would “miss” things if it truly crash. Other than a nuke or something like wars, I don’t see any easy opportunities.
