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[DWCAP]

SD_R, thanks for the longer explaination. Those of us NOT in the industry need a slightly gentler touch. Normal buying just sounds like a blowoff to me.

From what Rustico posted I read that people who have been sitting on bubble gains or relows who sold before are buying now. Professionals, especially those in the upper income brackets as 2 income HH, are buying as usual. Everybody else wants to, but are probly just running their agent around since the likelyhood they qualify for the necessary loans isnt all that high.

Not what I was really hoping, as I really enjoyed the cliff jumping of fall 2007. However it still doesnt change the fact that housing, while ALOT better, remains unaffordable to a large majority of the general citizenry. We will not get better until that is no longer true. Maybe we will just see a more gentle slide in the winters with Median appreciation (Ie fake appreciation due to sale differences) in the springs. Damn and here I was thinking that reality would set in again.

[donaldduckmoore]

Affordability does not have a standard. What is not affordable to you may be so to others. Some people did not buy during the hike because their dream house was more than $700k, but now it becomes $500k. It becomes more affordable to them to buy, but to someone else, $500k is still too expensive. If you keep using affordability as a standard to buy, you may not be able to buy anything in the end.

[donaldduckmoore]

Affordability does not have a standard. What is not affordable to you may be so to others. Some people did not buy during the hike because their dream house was more than $700k, but now it becomes $500k. It becomes more affordable to them to buy, but to someone else, $500k is still too expensive. If you keep using affordability as a standard to buy, you may not be able to buy anything in the end.

[donaldduckmoore]

Affordability does not have a standard. What is not affordable to you may be so to others. Some people did not buy during the hike because their dream house was more than $700k, but now it becomes $500k. It becomes more affordable to them to buy, but to someone else, $500k is still too expensive. If you keep using affordability as a standard to buy, you may not be able to buy anything in the end.

[donaldduckmoore]

Affordability does not have a standard. What is not affordable to you may be so to others. Some people did not buy during the hike because their dream house was more than $700k, but now it becomes $500k. It becomes more affordable to them to buy, but to someone else, $500k is still too expensive. If you keep using affordability as a standard to buy, you may not be able to buy anything in the end.

[donaldduckmoore]

Affordability does not have a standard. What is not affordable to you may be so to others. Some people did not buy during the hike because their dream house was more than $700k, but now it becomes $500k. It becomes more affordable to them to buy, but to someone else, $500k is still too expensive. If you keep using affordability as a standard to buy, you may not be able to buy anything in the end.

[ibjames]

but some standards can be applied to what a property should be in terms of rent/own, and they are still out of wack

Some people can buy, my friends just did, but they are already sweating, they are 2 professionals, and had cash from a previous sale.

While there are many like that, there are many more that aren’t

[ibjames]

but some standards can be applied to what a property should be in terms of rent/own, and they are still out of wack

Some people can buy, my friends just did, but they are already sweating, they are 2 professionals, and had cash from a previous sale.

While there are many like that, there are many more that aren’t

[ibjames]

but some standards can be applied to what a property should be in terms of rent/own, and they are still out of wack

Some people can buy, my friends just did, but they are already sweating, they are 2 professionals, and had cash from a previous sale.

While there are many like that, there are many more that aren’t

[ibjames]

but some standards can be applied to what a property should be in terms of rent/own, and they are still out of wack

Some people can buy, my friends just did, but they are already sweating, they are 2 professionals, and had cash from a previous sale.

While there are many like that, there are many more that aren’t

[ibjames]

but some standards can be applied to what a property should be in terms of rent/own, and they are still out of wack

Some people can buy, my friends just did, but they are already sweating, they are 2 professionals, and had cash from a previous sale.

While there are many like that, there are many more that aren’t

[DWCAP]

You are over thinking affordability. A 1 million dollar house is affordable to some people. It is not affordable to most people. A 100k house is affordable to many many people, but not to all. The problem is those who traditionally would be buying the majority of housing stock in the SD area are still unable to within prudence. There is no magic number of affordability for everyone. But if we are relying on bubble money sitters and the super rich, we are gonna be hurting.
So everyone who can afford with prudence buys, then what? It is only when supply of houses to the market and demand from people who can qualify and afford the payment are inline that affordability is met. Currently we have increaseing must sell inventory and reduced/constrained demand due to people not able to qualify for todays prices. Therefore prices are unaffordable in general and will fall. How far it falls is the whole reason for us being here.

[DWCAP]

You are over thinking affordability. A 1 million dollar house is affordable to some people. It is not affordable to most people. A 100k house is affordable to many many people, but not to all. The problem is those who traditionally would be buying the majority of housing stock in the SD area are still unable to within prudence. There is no magic number of affordability for everyone. But if we are relying on bubble money sitters and the super rich, we are gonna be hurting.
So everyone who can afford with prudence buys, then what? It is only when supply of houses to the market and demand from people who can qualify and afford the payment are inline that affordability is met. Currently we have increaseing must sell inventory and reduced/constrained demand due to people not able to qualify for todays prices. Therefore prices are unaffordable in general and will fall. How far it falls is the whole reason for us being here.

[DWCAP]

You are over thinking affordability. A 1 million dollar house is affordable to some people. It is not affordable to most people. A 100k house is affordable to many many people, but not to all. The problem is those who traditionally would be buying the majority of housing stock in the SD area are still unable to within prudence. There is no magic number of affordability for everyone. But if we are relying on bubble money sitters and the super rich, we are gonna be hurting.
So everyone who can afford with prudence buys, then what? It is only when supply of houses to the market and demand from people who can qualify and afford the payment are inline that affordability is met. Currently we have increaseing must sell inventory and reduced/constrained demand due to people not able to qualify for todays prices. Therefore prices are unaffordable in general and will fall. How far it falls is the whole reason for us being here.

[DWCAP]

You are over thinking affordability. A 1 million dollar house is affordable to some people. It is not affordable to most people. A 100k house is affordable to many many people, but not to all. The problem is those who traditionally would be buying the majority of housing stock in the SD area are still unable to within prudence. There is no magic number of affordability for everyone. But if we are relying on bubble money sitters and the super rich, we are gonna be hurting.
So everyone who can afford with prudence buys, then what? It is only when supply of houses to the market and demand from people who can qualify and afford the payment are inline that affordability is met. Currently we have increaseing must sell inventory and reduced/constrained demand due to people not able to qualify for todays prices. Therefore prices are unaffordable in general and will fall. How far it falls is the whole reason for us being here.

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