First off, I’m deeply sorry to hear that there may be any bad news about your son. I have two youngsters and there could be nothing worse. Please keep us informed.
Second of all, I’m coming to your defense big time here. Anybody who thinks a realtor should be responsible for the housing bubble is a total ignoramous. I know powayseller is just a little obssessed about the housing bubble, but its clear by comments she has made, that she is herself quite an ignorant investor and has little knowledge of how our capital markets acutally function. She sounds deeply distraught that she sold her house that she built for the sole purpose of financial gain and I think if the housing market doesn’t crash like she thinks it does, she is going to feel deeply foolish for having done that. She is going to be really upset if inflation takes off and the housing crash is brought back down to its median with no actual nominal price decline. That would be a realy humdinger. Sorry Poway, I like you , I just think your motivations here are more then a little strange.
I happen to be a sophisticated investor and even though I think there is a high probablity of a signficant housing crash, there is also a good chance I will buy a million dollar plus home in San Diego in the near future.
Why?
Because I have a young family and I want to own the house I raise them in. I’m wealthy and I can afford to lose all of my investment. I do so with full knowledge of what I’m spending my money on. If there is a housing crash, I will buy another couple houses when it gets ugly and average down my exposure to the SFR market in San Diego, or use the new futures market to hedge my investment if that emerges as a viable platform.
If I were single, sure I’d just rent a home, but with a family, there is simply no comparison between ownership and renting. When I buy, I’m certianly not going to blame my realtor for any loss I may or many not sustain.
I think a quality real estate agent like SDrealtor is a facilitator of market transactions. They do NOT make a market, they do not drive a market and they are in no way shape or form responsbible for what happens to the prices of housing.
Here is a question, if the realtors were responsible for this market, how come some of the mid-country real estate markets have not shown any price increases during this big bull market? Was it because the realtors were not good as promtions? Please…
So Sdrealtor if you are still reading this, what are some good neighborhoods to check out that are off the beaten path….Poway looks interesting, but it seems that its very hot there in summer. Which is funny, because who knew there was bad weather in San Diego? The Bressi Ranch looks interesting, I’ll have to check it out…I like the new urban design ideas they have incorporated and seems like a lot of families there. How far along is that one?
