$570K for a Mira Mesa house?

[an]

Can you be sure it’ll happen in 2 years? What happen if won’t get to that price for another 5 years? How much would you be paying in rent vs buying? I’m in the camp of government over stepping and cause major inflation. Also, long term average rates are around 8%. So, it’s not out of the range of possibility either. What if it goes to 8+% instead by the time price actually get down to 420k? Right now, you can get down as low as 4.375% w/ some points.

[4plexowner]

“government over stepping and cause major inflation”

of course they will

but the chances of this inflation feeding into housing prices is very close to zero

what is likely is that we will have stag-flation or hyper-stag-flation – ie, the prices of the things we actually need will rise dramatically while the price of things that we don’t need will drop dramatically

how badly does anyone need a $570K house in Mira Mesa, or CV, or anywhere else?

and you are right about rising interest rates – you are pushing the ‘buy now’ line with the argument of rates rising a point or two – here’s a question for you – what is that $570K house worth at 14% interest rates?

[4plexowner]

“government over stepping and cause major inflation”

of course they will

but the chances of this inflation feeding into housing prices is very close to zero

what is likely is that we will have stag-flation or hyper-stag-flation – ie, the prices of the things we actually need will rise dramatically while the price of things that we don’t need will drop dramatically

how badly does anyone need a $570K house in Mira Mesa, or CV, or anywhere else?

and you are right about rising interest rates – you are pushing the ‘buy now’ line with the argument of rates rising a point or two – here’s a question for you – what is that $570K house worth at 14% interest rates?

[4plexowner]

“government over stepping and cause major inflation”

of course they will

but the chances of this inflation feeding into housing prices is very close to zero

what is likely is that we will have stag-flation or hyper-stag-flation – ie, the prices of the things we actually need will rise dramatically while the price of things that we don’t need will drop dramatically

how badly does anyone need a $570K house in Mira Mesa, or CV, or anywhere else?

and you are right about rising interest rates – you are pushing the ‘buy now’ line with the argument of rates rising a point or two – here’s a question for you – what is that $570K house worth at 14% interest rates?

[4plexowner]

“government over stepping and cause major inflation”

of course they will

but the chances of this inflation feeding into housing prices is very close to zero

what is likely is that we will have stag-flation or hyper-stag-flation – ie, the prices of the things we actually need will rise dramatically while the price of things that we don’t need will drop dramatically

how badly does anyone need a $570K house in Mira Mesa, or CV, or anywhere else?

and you are right about rising interest rates – you are pushing the ‘buy now’ line with the argument of rates rising a point or two – here’s a question for you – what is that $570K house worth at 14% interest rates?

[4plexowner]

“government over stepping and cause major inflation”

of course they will

but the chances of this inflation feeding into housing prices is very close to zero

what is likely is that we will have stag-flation or hyper-stag-flation – ie, the prices of the things we actually need will rise dramatically while the price of things that we don’t need will drop dramatically

how badly does anyone need a $570K house in Mira Mesa, or CV, or anywhere else?

and you are right about rising interest rates – you are pushing the ‘buy now’ line with the argument of rates rising a point or two – here’s a question for you – what is that $570K house worth at 14% interest rates?

[ibjames]

[quote=Bugs]I’ve been talking about the trends working their way in toward the employment center for a long time now. I’ve also been talking about everything being connected. There’s still plenty of time for his house to drop another $150k-$200k. [/quote]

my wife and I are both in that camp, we never considered MM before but we both work near there, and it looks much more attractive now. I currently live 6 miles from work, and I love it

[ibjames]

[quote=Bugs]I’ve been talking about the trends working their way in toward the employment center for a long time now. I’ve also been talking about everything being connected. There’s still plenty of time for his house to drop another $150k-$200k. [/quote]

my wife and I are both in that camp, we never considered MM before but we both work near there, and it looks much more attractive now. I currently live 6 miles from work, and I love it

[ibjames]

[quote=Bugs]I’ve been talking about the trends working their way in toward the employment center for a long time now. I’ve also been talking about everything being connected. There’s still plenty of time for his house to drop another $150k-$200k. [/quote]

my wife and I are both in that camp, we never considered MM before but we both work near there, and it looks much more attractive now. I currently live 6 miles from work, and I love it

[ibjames]

[quote=Bugs]I’ve been talking about the trends working their way in toward the employment center for a long time now. I’ve also been talking about everything being connected. There’s still plenty of time for his house to drop another $150k-$200k. [/quote]

my wife and I are both in that camp, we never considered MM before but we both work near there, and it looks much more attractive now. I currently live 6 miles from work, and I love it

[ibjames]

[quote=Bugs]I’ve been talking about the trends working their way in toward the employment center for a long time now. I’ve also been talking about everything being connected. There’s still plenty of time for his house to drop another $150k-$200k. [/quote]

my wife and I are both in that camp, we never considered MM before but we both work near there, and it looks much more attractive now. I currently live 6 miles from work, and I love it

[barnaby33]

I liked the simple rate example above. AN, you recently bought. I perceive a none-too-subtle shift to a more defensive posture in your posting. Most of us however have the same bunker mentality as before.

The odds of rates going up to 14% are about as high as prices staying where they are, nearly zero. Rates will stay low until our creditors say no mas, which appears is several years off. Meanwhile job losses will pick up steam and housing prices will continue to decline as lending standards perform the same task that higher interest rates did in previous cycles. Namely shrink the buyer pool.

I for one would love to see rates shoot up, but The govt is literally pissing into a black hole the money it is printing. This money will exhibit itself as soon as the asset deflation has unwound but I’m not counting on it to get me a home I can live comfortably in at a price I can afford.

In summary 570 seems too high to me for any home in MM. Then again, my stated housing preferences are very different from most here.
Josh

[barnaby33]

I liked the simple rate example above. AN, you recently bought. I perceive a none-too-subtle shift to a more defensive posture in your posting. Most of us however have the same bunker mentality as before.

The odds of rates going up to 14% are about as high as prices staying where they are, nearly zero. Rates will stay low until our creditors say no mas, which appears is several years off. Meanwhile job losses will pick up steam and housing prices will continue to decline as lending standards perform the same task that higher interest rates did in previous cycles. Namely shrink the buyer pool.

I for one would love to see rates shoot up, but The govt is literally pissing into a black hole the money it is printing. This money will exhibit itself as soon as the asset deflation has unwound but I’m not counting on it to get me a home I can live comfortably in at a price I can afford.

In summary 570 seems too high to me for any home in MM. Then again, my stated housing preferences are very different from most here.
Josh

[barnaby33]

I liked the simple rate example above. AN, you recently bought. I perceive a none-too-subtle shift to a more defensive posture in your posting. Most of us however have the same bunker mentality as before.

The odds of rates going up to 14% are about as high as prices staying where they are, nearly zero. Rates will stay low until our creditors say no mas, which appears is several years off. Meanwhile job losses will pick up steam and housing prices will continue to decline as lending standards perform the same task that higher interest rates did in previous cycles. Namely shrink the buyer pool.

I for one would love to see rates shoot up, but The govt is literally pissing into a black hole the money it is printing. This money will exhibit itself as soon as the asset deflation has unwound but I’m not counting on it to get me a home I can live comfortably in at a price I can afford.

In summary 570 seems too high to me for any home in MM. Then again, my stated housing preferences are very different from most here.
Josh

[barnaby33]

I liked the simple rate example above. AN, you recently bought. I perceive a none-too-subtle shift to a more defensive posture in your posting. Most of us however have the same bunker mentality as before.

The odds of rates going up to 14% are about as high as prices staying where they are, nearly zero. Rates will stay low until our creditors say no mas, which appears is several years off. Meanwhile job losses will pick up steam and housing prices will continue to decline as lending standards perform the same task that higher interest rates did in previous cycles. Namely shrink the buyer pool.

I for one would love to see rates shoot up, but The govt is literally pissing into a black hole the money it is printing. This money will exhibit itself as soon as the asset deflation has unwound but I’m not counting on it to get me a home I can live comfortably in at a price I can afford.

In summary 570 seems too high to me for any home in MM. Then again, my stated housing preferences are very different from most here.
Josh

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