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Nor-LA-SD-guy.
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April 18, 2009 at 2:09 PM #384327April 18, 2009 at 2:13 PM #383693
CoronitaParticipant[quote=ralphfurley]
Maybe you wouldn’t wait for a bottom, but if you know the price-point will move downward in a couple months, would you wait? I think most people would. Some wouldn’t.I waited to get an LCD monitor for my computer when they first came out. Knowing they would come down in price eventually. Is it cheaper now, from when I bought mine? Sure, but I think the price has leveled off some.
When people are comfortable buying again, they will buy. Personally, I don’t think the majority of folks are anywhere near that point.
On a side note, has anyone seen the prices for houses near lake Perris? Four year old homes are in the $50/sq ft range. Can they get cheaper than that? I know it’s Perris, but still…[/quote]
There’s a huge difference. You could in theory do without an LCD monitor.
On the other hand, you can’t do without living somewhere. Your choices are either to rent or buy. There comes a point when it’s a wash…. if your savings starts getting eaten by inflation (we have none right now) + expenses from continuing to rent stacked year after year waiting for a trickle down + how well you manage your cash off to the side while it’s not being used.
By all means, this isn’t advocacy to go out and buy…But it’s not an apples apples comparison. Unless you’re comfortable camping out in your car or your place of work, if you’re not spending money on your home, your spending money on rent and vice versa. So in essence, the clock is ticking.
April 18, 2009 at 2:13 PM #383959CoronitaParticipant[quote=ralphfurley]
Maybe you wouldn’t wait for a bottom, but if you know the price-point will move downward in a couple months, would you wait? I think most people would. Some wouldn’t.I waited to get an LCD monitor for my computer when they first came out. Knowing they would come down in price eventually. Is it cheaper now, from when I bought mine? Sure, but I think the price has leveled off some.
When people are comfortable buying again, they will buy. Personally, I don’t think the majority of folks are anywhere near that point.
On a side note, has anyone seen the prices for houses near lake Perris? Four year old homes are in the $50/sq ft range. Can they get cheaper than that? I know it’s Perris, but still…[/quote]
There’s a huge difference. You could in theory do without an LCD monitor.
On the other hand, you can’t do without living somewhere. Your choices are either to rent or buy. There comes a point when it’s a wash…. if your savings starts getting eaten by inflation (we have none right now) + expenses from continuing to rent stacked year after year waiting for a trickle down + how well you manage your cash off to the side while it’s not being used.
By all means, this isn’t advocacy to go out and buy…But it’s not an apples apples comparison. Unless you’re comfortable camping out in your car or your place of work, if you’re not spending money on your home, your spending money on rent and vice versa. So in essence, the clock is ticking.
April 18, 2009 at 2:13 PM #384152CoronitaParticipant[quote=ralphfurley]
Maybe you wouldn’t wait for a bottom, but if you know the price-point will move downward in a couple months, would you wait? I think most people would. Some wouldn’t.I waited to get an LCD monitor for my computer when they first came out. Knowing they would come down in price eventually. Is it cheaper now, from when I bought mine? Sure, but I think the price has leveled off some.
When people are comfortable buying again, they will buy. Personally, I don’t think the majority of folks are anywhere near that point.
On a side note, has anyone seen the prices for houses near lake Perris? Four year old homes are in the $50/sq ft range. Can they get cheaper than that? I know it’s Perris, but still…[/quote]
There’s a huge difference. You could in theory do without an LCD monitor.
On the other hand, you can’t do without living somewhere. Your choices are either to rent or buy. There comes a point when it’s a wash…. if your savings starts getting eaten by inflation (we have none right now) + expenses from continuing to rent stacked year after year waiting for a trickle down + how well you manage your cash off to the side while it’s not being used.
By all means, this isn’t advocacy to go out and buy…But it’s not an apples apples comparison. Unless you’re comfortable camping out in your car or your place of work, if you’re not spending money on your home, your spending money on rent and vice versa. So in essence, the clock is ticking.
April 18, 2009 at 2:13 PM #384199CoronitaParticipant[quote=ralphfurley]
Maybe you wouldn’t wait for a bottom, but if you know the price-point will move downward in a couple months, would you wait? I think most people would. Some wouldn’t.I waited to get an LCD monitor for my computer when they first came out. Knowing they would come down in price eventually. Is it cheaper now, from when I bought mine? Sure, but I think the price has leveled off some.
When people are comfortable buying again, they will buy. Personally, I don’t think the majority of folks are anywhere near that point.
On a side note, has anyone seen the prices for houses near lake Perris? Four year old homes are in the $50/sq ft range. Can they get cheaper than that? I know it’s Perris, but still…[/quote]
There’s a huge difference. You could in theory do without an LCD monitor.
On the other hand, you can’t do without living somewhere. Your choices are either to rent or buy. There comes a point when it’s a wash…. if your savings starts getting eaten by inflation (we have none right now) + expenses from continuing to rent stacked year after year waiting for a trickle down + how well you manage your cash off to the side while it’s not being used.
By all means, this isn’t advocacy to go out and buy…But it’s not an apples apples comparison. Unless you’re comfortable camping out in your car or your place of work, if you’re not spending money on your home, your spending money on rent and vice versa. So in essence, the clock is ticking.
April 18, 2009 at 2:13 PM #384332CoronitaParticipant[quote=ralphfurley]
Maybe you wouldn’t wait for a bottom, but if you know the price-point will move downward in a couple months, would you wait? I think most people would. Some wouldn’t.I waited to get an LCD monitor for my computer when they first came out. Knowing they would come down in price eventually. Is it cheaper now, from when I bought mine? Sure, but I think the price has leveled off some.
When people are comfortable buying again, they will buy. Personally, I don’t think the majority of folks are anywhere near that point.
On a side note, has anyone seen the prices for houses near lake Perris? Four year old homes are in the $50/sq ft range. Can they get cheaper than that? I know it’s Perris, but still…[/quote]
There’s a huge difference. You could in theory do without an LCD monitor.
On the other hand, you can’t do without living somewhere. Your choices are either to rent or buy. There comes a point when it’s a wash…. if your savings starts getting eaten by inflation (we have none right now) + expenses from continuing to rent stacked year after year waiting for a trickle down + how well you manage your cash off to the side while it’s not being used.
By all means, this isn’t advocacy to go out and buy…But it’s not an apples apples comparison. Unless you’re comfortable camping out in your car or your place of work, if you’re not spending money on your home, your spending money on rent and vice versa. So in essence, the clock is ticking.
April 18, 2009 at 2:41 PM #383698ralphfurley
Participant[quote=flu]
Unless you’re comfortable camping out in your car or your place of work…
[/quote]
😀I thought about doing that. Showering at the gym, putting a mattress in the back of a pickup… Food might be more expensive.
Can’t pull the trigger on that with the wife and kid though.
Going back to your point, I see your apples to oranges comparison. Money will be going somewhere. Plus, there are a lot of factors. Living with in-laws comes to mind. Noisy neighbors, chalk outline on the street, etc.
April 18, 2009 at 2:41 PM #383964Participant[quote=flu]
Unless you’re comfortable camping out in your car or your place of work…
[/quote]
😀I thought about doing that. Showering at the gym, putting a mattress in the back of a pickup… Food might be more expensive.
Can’t pull the trigger on that with the wife and kid though.
Going back to your point, I see your apples to oranges comparison. Money will be going somewhere. Plus, there are a lot of factors. Living with in-laws comes to mind. Noisy neighbors, chalk outline on the street, etc.
April 18, 2009 at 2:41 PM #384157Participant[quote=flu]
Unless you’re comfortable camping out in your car or your place of work…
[/quote]
😀I thought about doing that. Showering at the gym, putting a mattress in the back of a pickup… Food might be more expensive.
Can’t pull the trigger on that with the wife and kid though.
Going back to your point, I see your apples to oranges comparison. Money will be going somewhere. Plus, there are a lot of factors. Living with in-laws comes to mind. Noisy neighbors, chalk outline on the street, etc.
April 18, 2009 at 2:41 PM #384204Participant[quote=flu]
Unless you’re comfortable camping out in your car or your place of work…
[/quote]
😀I thought about doing that. Showering at the gym, putting a mattress in the back of a pickup… Food might be more expensive.
Can’t pull the trigger on that with the wife and kid though.
Going back to your point, I see your apples to oranges comparison. Money will be going somewhere. Plus, there are a lot of factors. Living with in-laws comes to mind. Noisy neighbors, chalk outline on the street, etc.
April 18, 2009 at 2:41 PM #384337Participant[quote=flu]
Unless you’re comfortable camping out in your car or your place of work…
[/quote]
😀I thought about doing that. Showering at the gym, putting a mattress in the back of a pickup… Food might be more expensive.
Can’t pull the trigger on that with the wife and kid though.
Going back to your point, I see your apples to oranges comparison. Money will be going somewhere. Plus, there are a lot of factors. Living with in-laws comes to mind. Noisy neighbors, chalk outline on the street, etc.
April 18, 2009 at 8:50 PM #383767carlsbadworker
ParticipantIf I’m in the market to buy jewelry, I will definitely buy at 50% off (if the seller does not move up the original price before he applies the discount). 50% off is typically the wholesaler price. The store is selling at cost. I’m happy to take the jewelry at this price. You can similarly argue that the wholesale price may also drop. But I don’t care.
I don’t know why people are arguing here. If you want to wait for the bottom of the price, this may not be the time to buy. We will know the bottom after we have passed the bottom. Since the price most likely will not be V-shape, there will be plenty of opportunity to get the bottom-like price at that time.
But buying house, like buying jewelry, like buying HDTV, may not be purely an economical activity, many of which are life-style choice. Today’s buyers will definitely not looking foolish if he can hold onto the property for a long time. As Rich pointed out in his article, the housing price has become reasonable at many places, especially the locations where price has been 50% off. Even if the price worth only 1/2 what we paid for 20 years from now (like the Japan example you gave, although I didn’t check the data to see if it is true), SO WHAT? Price is definitely much much lower than 240x rent right now. 20 years of renting would cost you MUCH MUCH more than buying, who cares if you can get another 50% off today’s price at that time. You are paying more on rents and you missed out the joy of 20 years of homeownership.April 18, 2009 at 8:50 PM #384033ParticipantIf I’m in the market to buy jewelry, I will definitely buy at 50% off (if the seller does not move up the original price before he applies the discount). 50% off is typically the wholesaler price. The store is selling at cost. I’m happy to take the jewelry at this price. You can similarly argue that the wholesale price may also drop. But I don’t care.
I don’t know why people are arguing here. If you want to wait for the bottom of the price, this may not be the time to buy. We will know the bottom after we have passed the bottom. Since the price most likely will not be V-shape, there will be plenty of opportunity to get the bottom-like price at that time.
But buying house, like buying jewelry, like buying HDTV, may not be purely an economical activity, many of which are life-style choice. Today’s buyers will definitely not looking foolish if he can hold onto the property for a long time. As Rich pointed out in his article, the housing price has become reasonable at many places, especially the locations where price has been 50% off. Even if the price worth only 1/2 what we paid for 20 years from now (like the Japan example you gave, although I didn’t check the data to see if it is true), SO WHAT? Price is definitely much much lower than 240x rent right now. 20 years of renting would cost you MUCH MUCH more than buying, who cares if you can get another 50% off today’s price at that time. You are paying more on rents and you missed out the joy of 20 years of homeownership.April 18, 2009 at 8:50 PM #384226ParticipantIf I’m in the market to buy jewelry, I will definitely buy at 50% off (if the seller does not move up the original price before he applies the discount). 50% off is typically the wholesaler price. The store is selling at cost. I’m happy to take the jewelry at this price. You can similarly argue that the wholesale price may also drop. But I don’t care.
I don’t know why people are arguing here. If you want to wait for the bottom of the price, this may not be the time to buy. We will know the bottom after we have passed the bottom. Since the price most likely will not be V-shape, there will be plenty of opportunity to get the bottom-like price at that time.
But buying house, like buying jewelry, like buying HDTV, may not be purely an economical activity, many of which are life-style choice. Today’s buyers will definitely not looking foolish if he can hold onto the property for a long time. As Rich pointed out in his article, the housing price has become reasonable at many places, especially the locations where price has been 50% off. Even if the price worth only 1/2 what we paid for 20 years from now (like the Japan example you gave, although I didn’t check the data to see if it is true), SO WHAT? Price is definitely much much lower than 240x rent right now. 20 years of renting would cost you MUCH MUCH more than buying, who cares if you can get another 50% off today’s price at that time. You are paying more on rents and you missed out the joy of 20 years of homeownership.April 18, 2009 at 8:50 PM #384275ParticipantIf I’m in the market to buy jewelry, I will definitely buy at 50% off (if the seller does not move up the original price before he applies the discount). 50% off is typically the wholesaler price. The store is selling at cost. I’m happy to take the jewelry at this price. You can similarly argue that the wholesale price may also drop. But I don’t care.
I don’t know why people are arguing here. If you want to wait for the bottom of the price, this may not be the time to buy. We will know the bottom after we have passed the bottom. Since the price most likely will not be V-shape, there will be plenty of opportunity to get the bottom-like price at that time.
But buying house, like buying jewelry, like buying HDTV, may not be purely an economical activity, many of which are life-style choice. Today’s buyers will definitely not looking foolish if he can hold onto the property for a long time. As Rich pointed out in his article, the housing price has become reasonable at many places, especially the locations where price has been 50% off. Even if the price worth only 1/2 what we paid for 20 years from now (like the Japan example you gave, although I didn’t check the data to see if it is true), SO WHAT? Price is definitely much much lower than 240x rent right now. 20 years of renting would cost you MUCH MUCH more than buying, who cares if you can get another 50% off today’s price at that time. You are paying more on rents and you missed out the joy of 20 years of homeownership. -
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