Cy & Late
I think there are actually just a few of us that are guessing that a big chunk of the recent appreciation is coming out soon. Most are of the “It will be long and slow camp”. I have no pride on the line. It’s just fun to opine. I guess I am going to choose to watch the value of my house decline. Right now I could sell and try to time the bottom but I think my opportunity to do so will be over soon. I did time the top an sold my other property which enabled me to pay cash for my current property and house which I built(am finishing).It is absolutely not that I don’t understand the writing on the wall. We like where we live and the yard is a gently rolling 20 acres with views to Downtown and Point Loma. We are permitted to build another house here.I am not sure we wan’t to give that all up. It’s 45 minutes from down town.
Bugs,if you read this would you be so kind as to state wether you think homes on acreage will hold up a little better or not? Not that it is going to change my mind.
My guess is that my property will go from about $800k to $425k. I guess I am ready to live with that.Obviously in theory it could go down to zero but at that point I think we have more important things to worry about!My goals since my first child was born are to be debt free and live in what is hopefully a safe and sound enviornment.My financial goals now are to aquire sources of passive income.The second house would produce income right away or my wife’s parents could live there if they wanted to. Actually I would love to have them closer to my family.
So anyway,I guess we get excited about doing things our own way and nothing is going to change that!
Best wishes
