40% decline? – What do you think?

[jpinpb]

Aren’t we already seeing 20% off peak in many areas, many different homes throughout SD county? Does that mean we hit bottom? I think we still have a ways to go before the market improves. Does that mean prices will just stay flat? With less people buying because of the difficulty w/financing and if there are still more places anticipated to be on the market, I would think prices would decline further.

[blackbox]

In the big bubble cities where they, apparently, not running out of land, like SD, LA and the OC they will be around 40% off peak in SFH, and 40-60% from peak in condos. 1 br condo conversions being hit the hardest.

[blackbox]

In the big bubble cities where they, apparently, not running out of land, like SD, LA and the OC they will be around 40% off peak in SFH, and 40-60% from peak in condos. 1 br condo conversions being hit the hardest.

[blackbox]

In the big bubble cities where they, apparently, not running out of land, like SD, LA and the OC they will be around 40% off peak in SFH, and 40-60% from peak in condos. 1 br condo conversions being hit the hardest.

[blackbox]

In the big bubble cities where they, apparently, not running out of land, like SD, LA and the OC they will be around 40% off peak in SFH, and 40-60% from peak in condos. 1 br condo conversions being hit the hardest.

[blackbox]

In the big bubble cities where they, apparently, not running out of land, like SD, LA and the OC they will be around 40% off peak in SFH, and 40-60% from peak in condos. 1 br condo conversions being hit the hardest.

[Ex-SD]

SoCal could easily get whacked 50-60% in SFH prices. It depends on how badly the economy performs / the resulting job losses / number of foreclosures / amount of available inventory / etc-yada yada yada.

That article is referring to the national home market and many cities did not have the ridiculous run-up in house prices that CA experienced.

I have a friend who bought a nice townhome in SD in 1997 for $180k. He could have easily sold it for $500k-$520k in early 2005 and I encouraged him to do so but he decided to wait. Today, it’s only worth around $360k and the value is falling every month. I would not be surprised to see his townhome (1800 sq ft / 2 car garage) drop all the way to $200k before things clear up, primarily due to the number of SFH / Condos / Townhomes that will be on the market as more & more owners default on their loans.
Time will tell who is correct.

[Ex-SD]

SoCal could easily get whacked 50-60% in SFH prices. It depends on how badly the economy performs / the resulting job losses / number of foreclosures / amount of available inventory / etc-yada yada yada.

That article is referring to the national home market and many cities did not have the ridiculous run-up in house prices that CA experienced.

I have a friend who bought a nice townhome in SD in 1997 for $180k. He could have easily sold it for $500k-$520k in early 2005 and I encouraged him to do so but he decided to wait. Today, it’s only worth around $360k and the value is falling every month. I would not be surprised to see his townhome (1800 sq ft / 2 car garage) drop all the way to $200k before things clear up, primarily due to the number of SFH / Condos / Townhomes that will be on the market as more & more owners default on their loans.
Time will tell who is correct.

[Ex-SD]

SoCal could easily get whacked 50-60% in SFH prices. It depends on how badly the economy performs / the resulting job losses / number of foreclosures / amount of available inventory / etc-yada yada yada.

That article is referring to the national home market and many cities did not have the ridiculous run-up in house prices that CA experienced.

I have a friend who bought a nice townhome in SD in 1997 for $180k. He could have easily sold it for $500k-$520k in early 2005 and I encouraged him to do so but he decided to wait. Today, it’s only worth around $360k and the value is falling every month. I would not be surprised to see his townhome (1800 sq ft / 2 car garage) drop all the way to $200k before things clear up, primarily due to the number of SFH / Condos / Townhomes that will be on the market as more & more owners default on their loans.
Time will tell who is correct.

[Ex-SD]

SoCal could easily get whacked 50-60% in SFH prices. It depends on how badly the economy performs / the resulting job losses / number of foreclosures / amount of available inventory / etc-yada yada yada.

That article is referring to the national home market and many cities did not have the ridiculous run-up in house prices that CA experienced.

I have a friend who bought a nice townhome in SD in 1997 for $180k. He could have easily sold it for $500k-$520k in early 2005 and I encouraged him to do so but he decided to wait. Today, it’s only worth around $360k and the value is falling every month. I would not be surprised to see his townhome (1800 sq ft / 2 car garage) drop all the way to $200k before things clear up, primarily due to the number of SFH / Condos / Townhomes that will be on the market as more & more owners default on their loans.
Time will tell who is correct.

[Ex-SD]

SoCal could easily get whacked 50-60% in SFH prices. It depends on how badly the economy performs / the resulting job losses / number of foreclosures / amount of available inventory / etc-yada yada yada.

That article is referring to the national home market and many cities did not have the ridiculous run-up in house prices that CA experienced.

I have a friend who bought a nice townhome in SD in 1997 for $180k. He could have easily sold it for $500k-$520k in early 2005 and I encouraged him to do so but he decided to wait. Today, it’s only worth around $360k and the value is falling every month. I would not be surprised to see his townhome (1800 sq ft / 2 car garage) drop all the way to $200k before things clear up, primarily due to the number of SFH / Condos / Townhomes that will be on the market as more & more owners default on their loans.
Time will tell who is correct.

[kewp]

All these projections are assuming the housing bust has no effect on the economy. Given that much of the economic growth of the last decade was due to the housing bubble to begin with, I don’t see how it can remain in its absence.

[kewp]

All these projections are assuming the housing bust has no effect on the economy. Given that much of the economic growth of the last decade was due to the housing bubble to begin with, I don’t see how it can remain in its absence.

[kewp]

All these projections are assuming the housing bust has no effect on the economy. Given that much of the economic growth of the last decade was due to the housing bubble to begin with, I don’t see how it can remain in its absence.

[kewp]

All these projections are assuming the housing bust has no effect on the economy. Given that much of the economic growth of the last decade was due to the housing bubble to begin with, I don’t see how it can remain in its absence.

[Author]

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