powayseller, I love your post. I like the “in my opinion” sprinkled throughout your text. How about alternating with “in my view, I feel, I think, I surmise, i deduce” etc… 🙂
It’s scary indeed. I’ve come accross a lot of annecdotal evidence that buyers are in over their heads. A friend talked me into visiting an $800k + development in Del Sur and the loan officer told me that that majority of buyers do interest only 100% financing or as little downpayment as they could. I told her that I didn’t want to put any downpayment. She said that she would find me a good payment plan.
Of course, I’m not buying. I’m taking advantage of the time to become familiar with the neighborhoods in San Diego so when the right time comes, I’ll be ready.
By the time all this unravels, people might be wishing for only a 50% drop from the peak.
