Are you looking to get in on the ground floor? Think again.

[nostradamus]

I’ve been wanting to get out of my condo and buy a house for some time now, and am financially prepared but know that now is not even close to being the time to do it. Sellers are still out of touch with the market but are starting to catch on. Some companies are shutting down and laying off. Stocks are doing the dead cat bounce. The dollar is in free-fall. Inflation is up. We are bombarded daily with deceptive, placating news trying to candy-coat what’s happening to our economy. Ya, for me this is a no-brainer: it’s not the time to buy. I can’t say that things won’t get better but I can say that the future is a big, black hole. Even for me, Nostradamus. Buying a house now is like playing roulette. I won’t play roulette with $5, definitely not with half a million or more.

Thus, I’m hunkering down and looking to hire some desperate-for-work contractors to remodel parts of my condo to make it even nicer since I’ll probably be here for another two years minimum. During this time I am able to save up money for the house, so hopefully what the interest rates are doing at the time I buy will not affect me much.

I’ve asked before but didn’t get any response: does anyone know of a good contractor to do bathroom remodels and such?

[kewp]

I think you are missing two (big) things.

One, the coming tidal wave of option-ARM resets in the prime segment, which reach out into the 2011 time frame.

Two, the degree to which the US and SoCal economy has been dependent on the housing bubble as the engine for economic growth. As the median house price falls, median income is gonna fall right along with it.

So, if the housing bust is a ball game, it sounds like you think we are about in 4th-5th inning. I think we are still in the first.

A ‘black swan’ event that might help SD is the creative destruction of excess inventory attracts some big companies to the area, particularly in the IE. I can easily imagine a company like Google buying up an office complex in Temecula and offering a free house to any engineer that relocates to there. Could be very attractive to Bay Area renters with families.

[kewp]

I think you are missing two (big) things.

One, the coming tidal wave of option-ARM resets in the prime segment, which reach out into the 2011 time frame.

Two, the degree to which the US and SoCal economy has been dependent on the housing bubble as the engine for economic growth. As the median house price falls, median income is gonna fall right along with it.

So, if the housing bust is a ball game, it sounds like you think we are about in 4th-5th inning. I think we are still in the first.

A ‘black swan’ event that might help SD is the creative destruction of excess inventory attracts some big companies to the area, particularly in the IE. I can easily imagine a company like Google buying up an office complex in Temecula and offering a free house to any engineer that relocates to there. Could be very attractive to Bay Area renters with families.

[kewp]

I think you are missing two (big) things.

One, the coming tidal wave of option-ARM resets in the prime segment, which reach out into the 2011 time frame.

Two, the degree to which the US and SoCal economy has been dependent on the housing bubble as the engine for economic growth. As the median house price falls, median income is gonna fall right along with it.

So, if the housing bust is a ball game, it sounds like you think we are about in 4th-5th inning. I think we are still in the first.

A ‘black swan’ event that might help SD is the creative destruction of excess inventory attracts some big companies to the area, particularly in the IE. I can easily imagine a company like Google buying up an office complex in Temecula and offering a free house to any engineer that relocates to there. Could be very attractive to Bay Area renters with families.

[kewp]

I think you are missing two (big) things.

One, the coming tidal wave of option-ARM resets in the prime segment, which reach out into the 2011 time frame.

Two, the degree to which the US and SoCal economy has been dependent on the housing bubble as the engine for economic growth. As the median house price falls, median income is gonna fall right along with it.

So, if the housing bust is a ball game, it sounds like you think we are about in 4th-5th inning. I think we are still in the first.

A ‘black swan’ event that might help SD is the creative destruction of excess inventory attracts some big companies to the area, particularly in the IE. I can easily imagine a company like Google buying up an office complex in Temecula and offering a free house to any engineer that relocates to there. Could be very attractive to Bay Area renters with families.

[kewp]

I think you are missing two (big) things.

One, the coming tidal wave of option-ARM resets in the prime segment, which reach out into the 2011 time frame.

Two, the degree to which the US and SoCal economy has been dependent on the housing bubble as the engine for economic growth. As the median house price falls, median income is gonna fall right along with it.

So, if the housing bust is a ball game, it sounds like you think we are about in 4th-5th inning. I think we are still in the first.

A ‘black swan’ event that might help SD is the creative destruction of excess inventory attracts some big companies to the area, particularly in the IE. I can easily imagine a company like Google buying up an office complex in Temecula and offering a free house to any engineer that relocates to there. Could be very attractive to Bay Area renters with families.

[temeculaguy]

kewp, please don’t post ideas like that, if anyone can find obscure postings on the internet it will be the folks at google. I welcome any group or type of people to my humble hamlet, minorities, religious cults, hurricane refugees, even the Taliban are welcome but I do not want anyone from the Bay Area to even know where on the map we are, let alone relocate here. I might be able to tolerate their political and social views for short periods of time but if I were to wander into my favorite watering hole and hear the chant “Niners, Niners,” I would have to move immediately. Thank you in advance for your cooperation.

[temeculaguy]

kewp, please don’t post ideas like that, if anyone can find obscure postings on the internet it will be the folks at google. I welcome any group or type of people to my humble hamlet, minorities, religious cults, hurricane refugees, even the Taliban are welcome but I do not want anyone from the Bay Area to even know where on the map we are, let alone relocate here. I might be able to tolerate their political and social views for short periods of time but if I were to wander into my favorite watering hole and hear the chant “Niners, Niners,” I would have to move immediately. Thank you in advance for your cooperation.

[temeculaguy]

kewp, please don’t post ideas like that, if anyone can find obscure postings on the internet it will be the folks at google. I welcome any group or type of people to my humble hamlet, minorities, religious cults, hurricane refugees, even the Taliban are welcome but I do not want anyone from the Bay Area to even know where on the map we are, let alone relocate here. I might be able to tolerate their political and social views for short periods of time but if I were to wander into my favorite watering hole and hear the chant “Niners, Niners,” I would have to move immediately. Thank you in advance for your cooperation.

[temeculaguy]

kewp, please don’t post ideas like that, if anyone can find obscure postings on the internet it will be the folks at google. I welcome any group or type of people to my humble hamlet, minorities, religious cults, hurricane refugees, even the Taliban are welcome but I do not want anyone from the Bay Area to even know where on the map we are, let alone relocate here. I might be able to tolerate their political and social views for short periods of time but if I were to wander into my favorite watering hole and hear the chant “Niners, Niners,” I would have to move immediately. Thank you in advance for your cooperation.

[temeculaguy]

kewp, please don’t post ideas like that, if anyone can find obscure postings on the internet it will be the folks at google. I welcome any group or type of people to my humble hamlet, minorities, religious cults, hurricane refugees, even the Taliban are welcome but I do not want anyone from the Bay Area to even know where on the map we are, let alone relocate here. I might be able to tolerate their political and social views for short periods of time but if I were to wander into my favorite watering hole and hear the chant “Niners, Niners,” I would have to move immediately. Thank you in advance for your cooperation.

[sdrealtor]

I tend to to agree with you Bugs one this one (though I dont always agree with you on everything). I think that the lower end is rapidly declining and will reach a level within the next year where there isnt much in the way of a meaningful decline left. I was trying to get to this point a week ago on one of the threads behind an article by Rich last week. At that point the key from a buyer perspective will be to find the one gem out there. There will be tons of crap out there and finding the one gem out there will be worth the risk of overpaying slightly IMO. When everyone acknowledges we have hit bottom and he have started heading up competition for that one gem will be much keener.

[sdrealtor]

I tend to to agree with you Bugs one this one (though I dont always agree with you on everything). I think that the lower end is rapidly declining and will reach a level within the next year where there isnt much in the way of a meaningful decline left. I was trying to get to this point a week ago on one of the threads behind an article by Rich last week. At that point the key from a buyer perspective will be to find the one gem out there. There will be tons of crap out there and finding the one gem out there will be worth the risk of overpaying slightly IMO. When everyone acknowledges we have hit bottom and he have started heading up competition for that one gem will be much keener.

[sdrealtor]

I tend to to agree with you Bugs one this one (though I dont always agree with you on everything). I think that the lower end is rapidly declining and will reach a level within the next year where there isnt much in the way of a meaningful decline left. I was trying to get to this point a week ago on one of the threads behind an article by Rich last week. At that point the key from a buyer perspective will be to find the one gem out there. There will be tons of crap out there and finding the one gem out there will be worth the risk of overpaying slightly IMO. When everyone acknowledges we have hit bottom and he have started heading up competition for that one gem will be much keener.

[sdrealtor]

I tend to to agree with you Bugs one this one (though I dont always agree with you on everything). I think that the lower end is rapidly declining and will reach a level within the next year where there isnt much in the way of a meaningful decline left. I was trying to get to this point a week ago on one of the threads behind an article by Rich last week. At that point the key from a buyer perspective will be to find the one gem out there. There will be tons of crap out there and finding the one gem out there will be worth the risk of overpaying slightly IMO. When everyone acknowledges we have hit bottom and he have started heading up competition for that one gem will be much keener.

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