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Nor-LA-SD-guy.
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April 19, 2009 at 11:54 AM #384704April 19, 2009 at 12:38 PM #384095
blahblahblah
ParticipantSDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.
Unfortunately for us, RT66, the government is subsidizing the banks so that they can keep the shadow inventory in the shadows. Just like they cook the books on CPI, unemployment, and everything else. The banks know that they are ruined if the true values of these assets become known so they just get their buddies in the government to make sure that doesn’t happen…
April 19, 2009 at 12:38 PM #384361ParticipantSDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.
Unfortunately for us, RT66, the government is subsidizing the banks so that they can keep the shadow inventory in the shadows. Just like they cook the books on CPI, unemployment, and everything else. The banks know that they are ruined if the true values of these assets become known so they just get their buddies in the government to make sure that doesn’t happen…
April 19, 2009 at 12:38 PM #384559ParticipantSDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.
Unfortunately for us, RT66, the government is subsidizing the banks so that they can keep the shadow inventory in the shadows. Just like they cook the books on CPI, unemployment, and everything else. The banks know that they are ruined if the true values of these assets become known so they just get their buddies in the government to make sure that doesn’t happen…
April 19, 2009 at 12:38 PM #384608ParticipantSDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.
Unfortunately for us, RT66, the government is subsidizing the banks so that they can keep the shadow inventory in the shadows. Just like they cook the books on CPI, unemployment, and everything else. The banks know that they are ruined if the true values of these assets become known so they just get their buddies in the government to make sure that doesn’t happen…
April 19, 2009 at 12:38 PM #384745ParticipantSDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.
Unfortunately for us, RT66, the government is subsidizing the banks so that they can keep the shadow inventory in the shadows. Just like they cook the books on CPI, unemployment, and everything else. The banks know that they are ruined if the true values of these assets become known so they just get their buddies in the government to make sure that doesn’t happen…
April 19, 2009 at 1:43 PM #384150SDEngineer
Participant[quote=Rt.66]This just in:
Fly-over country can’t fall to 1 x earnings (Detroit at 2.5 MONTHS x earnings right now)
Investors can always cash flow if they purchase at 2.5 x earnings or less.
Lot prices and building costs can’t come down.
It’s different here.
LJ and Carlsbad are no longer coastal.
SDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.[/quote]
Detroit is not typical of flyover country, and by suggesting that it is you clearly don’t understand WHY Detroit’s home prices are so low. It is NOT because Detroit was bubble territory (it’s housing prices did NOT experience a bubble during the last 8 years).
The reason why Detroit can drop so low is that it’s been hemmorhaging residents at an unbelieveable pace. The population of the City of Detroit has fallen by half over the past 50 years. There’s a lot less demand for housing there because Detroit only has a population of 900,000 in a city that had enough housing for 1.8 million. There is NO DEMAND for housing. Unless you’ve noticed the population of the U.S. doing the same, you can’t draw a similar conclusion about the rest of the country.
And I’m certainly not assuming the shadow inventory will just disappear – but if they were going to flood the market, they WOULD HAVE ALREADY DONE IT. They clearly have either decided not to, or are simply unable to. And frankly, with the bailouts they’re getting, they have no motive to – they CAN just hold properties and meter them out.
April 19, 2009 at 1:43 PM #384418Participant[quote=Rt.66]This just in:
Fly-over country can’t fall to 1 x earnings (Detroit at 2.5 MONTHS x earnings right now)
Investors can always cash flow if they purchase at 2.5 x earnings or less.
Lot prices and building costs can’t come down.
It’s different here.
LJ and Carlsbad are no longer coastal.
SDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.[/quote]
Detroit is not typical of flyover country, and by suggesting that it is you clearly don’t understand WHY Detroit’s home prices are so low. It is NOT because Detroit was bubble territory (it’s housing prices did NOT experience a bubble during the last 8 years).
The reason why Detroit can drop so low is that it’s been hemmorhaging residents at an unbelieveable pace. The population of the City of Detroit has fallen by half over the past 50 years. There’s a lot less demand for housing there because Detroit only has a population of 900,000 in a city that had enough housing for 1.8 million. There is NO DEMAND for housing. Unless you’ve noticed the population of the U.S. doing the same, you can’t draw a similar conclusion about the rest of the country.
And I’m certainly not assuming the shadow inventory will just disappear – but if they were going to flood the market, they WOULD HAVE ALREADY DONE IT. They clearly have either decided not to, or are simply unable to. And frankly, with the bailouts they’re getting, they have no motive to – they CAN just hold properties and meter them out.
April 19, 2009 at 1:43 PM #384615Participant[quote=Rt.66]This just in:
Fly-over country can’t fall to 1 x earnings (Detroit at 2.5 MONTHS x earnings right now)
Investors can always cash flow if they purchase at 2.5 x earnings or less.
Lot prices and building costs can’t come down.
It’s different here.
LJ and Carlsbad are no longer coastal.
SDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.[/quote]
Detroit is not typical of flyover country, and by suggesting that it is you clearly don’t understand WHY Detroit’s home prices are so low. It is NOT because Detroit was bubble territory (it’s housing prices did NOT experience a bubble during the last 8 years).
The reason why Detroit can drop so low is that it’s been hemmorhaging residents at an unbelieveable pace. The population of the City of Detroit has fallen by half over the past 50 years. There’s a lot less demand for housing there because Detroit only has a population of 900,000 in a city that had enough housing for 1.8 million. There is NO DEMAND for housing. Unless you’ve noticed the population of the U.S. doing the same, you can’t draw a similar conclusion about the rest of the country.
And I’m certainly not assuming the shadow inventory will just disappear – but if they were going to flood the market, they WOULD HAVE ALREADY DONE IT. They clearly have either decided not to, or are simply unable to. And frankly, with the bailouts they’re getting, they have no motive to – they CAN just hold properties and meter them out.
April 19, 2009 at 1:43 PM #384664Participant[quote=Rt.66]This just in:
Fly-over country can’t fall to 1 x earnings (Detroit at 2.5 MONTHS x earnings right now)
Investors can always cash flow if they purchase at 2.5 x earnings or less.
Lot prices and building costs can’t come down.
It’s different here.
LJ and Carlsbad are no longer coastal.
SDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.[/quote]
Detroit is not typical of flyover country, and by suggesting that it is you clearly don’t understand WHY Detroit’s home prices are so low. It is NOT because Detroit was bubble territory (it’s housing prices did NOT experience a bubble during the last 8 years).
The reason why Detroit can drop so low is that it’s been hemmorhaging residents at an unbelieveable pace. The population of the City of Detroit has fallen by half over the past 50 years. There’s a lot less demand for housing there because Detroit only has a population of 900,000 in a city that had enough housing for 1.8 million. There is NO DEMAND for housing. Unless you’ve noticed the population of the U.S. doing the same, you can’t draw a similar conclusion about the rest of the country.
And I’m certainly not assuming the shadow inventory will just disappear – but if they were going to flood the market, they WOULD HAVE ALREADY DONE IT. They clearly have either decided not to, or are simply unable to. And frankly, with the bailouts they’re getting, they have no motive to – they CAN just hold properties and meter them out.
April 19, 2009 at 1:43 PM #384801Participant[quote=Rt.66]This just in:
Fly-over country can’t fall to 1 x earnings (Detroit at 2.5 MONTHS x earnings right now)
Investors can always cash flow if they purchase at 2.5 x earnings or less.
Lot prices and building costs can’t come down.
It’s different here.
LJ and Carlsbad are no longer coastal.
SDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.[/quote]
Detroit is not typical of flyover country, and by suggesting that it is you clearly don’t understand WHY Detroit’s home prices are so low. It is NOT because Detroit was bubble territory (it’s housing prices did NOT experience a bubble during the last 8 years).
The reason why Detroit can drop so low is that it’s been hemmorhaging residents at an unbelieveable pace. The population of the City of Detroit has fallen by half over the past 50 years. There’s a lot less demand for housing there because Detroit only has a population of 900,000 in a city that had enough housing for 1.8 million. There is NO DEMAND for housing. Unless you’ve noticed the population of the U.S. doing the same, you can’t draw a similar conclusion about the rest of the country.
And I’m certainly not assuming the shadow inventory will just disappear – but if they were going to flood the market, they WOULD HAVE ALREADY DONE IT. They clearly have either decided not to, or are simply unable to. And frankly, with the bailouts they’re getting, they have no motive to – they CAN just hold properties and meter them out.
April 19, 2009 at 2:45 PM #384185
CoronitaParticipant[quote=Rt.66]This just in:
Fly-over country can’t fall to 1 x earnings (Detroit at 2.5 MONTHS x earnings right now)
Investors can always cash flow if they purchase at 2.5 x earnings or less.
Lot prices and building costs can’t come down.
It’s different here.
LJ and Carlsbad are no longer coastal.
SDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.[/quote]
You know what Scarlet, you’re right. I think $165k for La Jolla would be good pricing. Best wishes with your house hunting and welcome to san diego.
April 19, 2009 at 2:45 PM #384453CoronitaParticipant[quote=Rt.66]This just in:
Fly-over country can’t fall to 1 x earnings (Detroit at 2.5 MONTHS x earnings right now)
Investors can always cash flow if they purchase at 2.5 x earnings or less.
Lot prices and building costs can’t come down.
It’s different here.
LJ and Carlsbad are no longer coastal.
SDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.[/quote]
You know what Scarlet, you’re right. I think $165k for La Jolla would be good pricing. Best wishes with your house hunting and welcome to san diego.
April 19, 2009 at 2:45 PM #384651CoronitaParticipant[quote=Rt.66]This just in:
Fly-over country can’t fall to 1 x earnings (Detroit at 2.5 MONTHS x earnings right now)
Investors can always cash flow if they purchase at 2.5 x earnings or less.
Lot prices and building costs can’t come down.
It’s different here.
LJ and Carlsbad are no longer coastal.
SDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.[/quote]
You know what Scarlet, you’re right. I think $165k for La Jolla would be good pricing. Best wishes with your house hunting and welcome to san diego.
April 19, 2009 at 2:45 PM #384700CoronitaParticipant[quote=Rt.66]This just in:
Fly-over country can’t fall to 1 x earnings (Detroit at 2.5 MONTHS x earnings right now)
Investors can always cash flow if they purchase at 2.5 x earnings or less.
Lot prices and building costs can’t come down.
It’s different here.
LJ and Carlsbad are no longer coastal.
SDEngineer has not seen ANY sign of the shadow inventory hitting the market. Its now safe to assume it never will and must simply evaporate into thin air leaving housing values un-affected by the magnitude of its enormity.[/quote]
You know what Scarlet, you’re right. I think $165k for La Jolla would be good pricing. Best wishes with your house hunting and welcome to san diego.
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