I would like to chime in here also and make a few statements too:
first off Doc, you said you’ve lived here for 50 something years and NEVER saw a “Coastal Living Correction of 50%” or anywhere near that high, well, good news for you!.. you shouldnt feel like you missed it then, because it has NEVER happened, in fact, this current economic climate and govt strategies have never been seen before either. The closest was wayyyyy back in 1929, and whatever the heck the govt has planned, we havent a clue and it might be possible that they dont either! They might just be “reacting” daily. It kinda looks that way from here. The world changes VERY fast now.
As far as home ownership goes, you and SDrealtor have far different “Midwestern American” idea’s than my generation (45 yrs. old) and including the generations behind me too.
I did NOT want to live in my parents house anymore than I wanted to wear my Dad’s old shoes, I want what I want, not be satisfied with what HE wanted or thinks I want. I was and still am capable of deciding what it is that I want for myself.
Is your child not capable of finding his own way ? Is your confidence in him already so low that you think the only way he’ll ever own a home and amount to anything is if YOU give it to him ?
Are you going to saddle him or brain wash your 16 yr old child into thinking he will inherit the “best house in all the world” from your good fortune and or benevolence ?
Im sure you guys will try to use it as leverage with statements like, “Do you want a free house ?” well maybe “IF” you get good grades? Then are going to be picking his future wife for him, telling him what color car he “should” have ? Well…SURPRISE ! ..He wont want it, his cohorts will tell hm how lame that idea of yours is and he will learn to hate that house that YOU’VE grown so attached to.
At what point do you turn him loose in the world and see how far in life and how successful his own good judgement takes him ? Apparently for you and SDRealtor, that point will never get reached for your children.
Your plan of him “raising his family” there needs revision also, I think he’ll be changing diapers in the very same room you did, except he’ll be changing YOURS this time around not his baby’s !
Is that your secret plan ?
My father tried that similar type crap on me too and it backfired, I left at 17 yrs old, I paid for my own college, got started in a completely different career path, got extremely lucky, (but was prepared to recognize the opportunity) and very comfortably retired in my mid to late 30’s. Hell, I retired BEFORE he did and spent more on taxes in each year for the last 8 years than he has EVER seen. I retired from my profession and sold 2 very successful small companies that I started plus sold all of my real estate 2 years ago because my common sense told me it was topped out and get out NOW.
I am digressing…my apologies.
Are you trying to “rationalize” your real estate purchase by citing all of these fantasies of “giving” your home to your son ?
A person can be inundated by too much superfulous data, at some point he’s going to have to use his own good judgement (if possessed) and make a move, win, lose or draw. Nothing worse than paralysis from analysis, or brain cramps.
Why do you visit this site ? It seems pretty rosy in your world, this must seem all doom and gloom….
If you believe SD/SoCal real estate will experience no more than a 10% decline over the next couple of years, despite all the data, history and trends, well, I believe thats being blinded by what Greenspan calls “Irrational Exuberance” and my opinion counts for exactly nothing. But I felt it needed to be said.
I have absolutely NO intentions of insult or snideness, if it at all it appears that way, my apologies now, it was NOT ever intended.
