“Anyone who has been living here for 7 years of longer and did not buy missed the boat once.”
This statement only applied if you were working 7 years ago. I lived in San Diego for over 15 years, but 7 years ago, I was still a kid in school with only a part time job and housing was the last thing on my mind. When I graduated and have a stable enough job to start thinking about long term investment like a house, that was 2004. I think most people here who are waiting are either young people like myself waiting for our first house or those who bought in 99-ish and sold in 05-ish. I’d say that’s the majority of the posters anyways.
sdcellar, I totally agree. I rather be late (miss the bottom) and catch it on the way up than catch a falling knife. Especially since no one can time the market with any consistency.
