Most of the accountants that I know are not typically following their wiives around. I guess they are better at it than you.
Let’s face it. Your posts make an effort at you somehow being knowlegable of Real Estate. have you sold real estate. NO Have you been in the appraisal side. No Have you been on the lender side NO. I don’t know maybe you are a good accountant but that doesn’t mean you know anything about real estate. Additionally if you left Chi town in 04 you don’t have nearly enough time in the San Diego area to step up like you are some kind of expert.
As I have stated in numerous posts I am renting. If my wife and I were both working I would buy something I was comfortable with. I would be less inclined to wory about the timing of my purchase. There has rarely been a period of time when people buying houses did so becasue they were timeing markets. The majority of people buy because they have families, are looking for particular school systems, and can afford to buy. Ask them ten years after they bought and they will tell you people thoght they were paying a premium.
Why don’t you take a look at OFHEO and take a look at California and the historical price increases. There was a period from I believe 1990 to 1996 where there were declines but this was due to job losses in the area and a Change in teh ta codes in terms of write offs. While I would cheerlead for a decline in prices because it would advantage me the reality is that I don’t foresee the declines most here are suggesting in the areas that I would consider buying. La jolla, Del Mar, Encinitas, Carlsbad, Carmel Valley, Mt soledad. So rather than hope and be disgruntled I will focus on creating revenue and doubling my income to make up for the high prices. This I can control. The housing market I can not.
