[quote=Reality][quote=temeculaguy]I will happily call it a bubble right now. Mark my words as I will link this post in the future. The invisible hand has been stymied and nothing good ever comes from that, unless inflation counteracts it. Anecdotal case in point, my son and his wife have lived with me rent free through the pandemic and have a six figure down payment. Yes they are mid to late 20 somethings with degrees and a low six figure combined income and they cannot buy a starter home in Temecula. The last time this happened it was 2006 and we all know how that turned out. Haircuts are coming, the two freshly minted teachers rule is back in play, when two freshly minted teachers cannot buy a condo the bubble bursts, exhurbs get it first and gt it the worst, I smell Deja Vu! I like my house, just signed contracts for solar and tesla powerwalls, already got a fake lawn so I’m staying put but I’ll pick up a rental or two in the next crash, your results may vary. But thee current valuations are not sustainable.
The house I paid 270 for at the bottom in 2008 is worth 700-800, you have got to be kidding me, 500 maybe.[/quote]
Thank you for countering what has become largely a cheerleader blog. I don’t have the energy anymore but liked reading your post.[/quote]
Yes Reality. being a permabull is exhausting.
I disagree vehemently. I do not see cheerleaders, I see pragmatists. People who are willing and able to watch what is going on and exploit it. I think most of us would be happy to see a big decline as we are long term investors and committed to the area. Personally i dislike when prices get high and could care less what my house is worth. I have no plans to ever sell and hope it becomes a generational income producing asset for my family or home for my heirs. I like when prices dip and our neighborhood gets rejuvenated with more young families. The sound of kids playing on the tree swing a few houses away brings me great joy and I hope for more of that.
But here’s the worst part. When and if that correction comes, you permabears that have sat on the sidelines will be competing with us pragmistists that have been enjoying massive gains the last 10 years and have been converting them to long term income generating assests like dividend stocks and bread n butter rentals around town.
I glad you enjoyed reading TG’s posts but what you expect to get out of that is likely fantasy. I see why you are exhausted. Temecula is calling your name
