No there is no chance that we are out of the woods. However kids grow up fast, and last time I checked, you cannot take money with you when you croak.
The bottom line is that for some people buying works and for others it does not. For the most part, people who post here are bright and make good money, well over the average. Many of them have families or are starting a family. I cannot think of a single Pigg who made a purchase and did not understand the risks. It should be intuitively obvious that these people had other priorities over the possible risk premium. Personally I think taking advantage of these rates for rental property is a great opportunity for long term additions to portfolios but not necessarly San Diego rentals.
Going back to what JP said, I think that when (not if) rates rise significantly, and I mean I believe we will be in for triple bk slider sized rates, then pricing will suffer (perhaps significantly). The problem is I have thought rates would be rising since the turn of the century and they have defied my prediction. So maybe they go up in a year and maybe not for 10 years.
Still, two things are very clear. Time on this planet is short, I mean DAMN short. I blink my eyes and boom, 6 years go by and my kids are aready in 1rst grade. I remember them being born like it is yesterday. Second, buying is not for everyone so if you wanna stick to your guns because you think rates are gonna skyrocket, then that is okay. However stick to your guns for the right reasons. If you feel that everyone has bought and now there will be a shortage of organic buyers then that is very much incorrect. For a place like San Diego, especially the more desireable areas, there will ALWAYS be buyers.
