Business data point in Temecula

[HarryBosch]

Nope.

Something else I saw recently that shows to me we are still in for some bad times ahead is what I saw at a street corner recently.

I was heading toward the I15 freeway on 79 South and at the intersection, maybe the second intersection, before you get to the onramp, I saw a gentleman, maybe in his early 40s, late 30s, in suit and tie, I think balding if I remember correctly, standing there at 6:45-7am in the morning holding a sign that said something like, “Lost my job. Lots of Marketing experience.” and then a phone number at the bottom.

Did anyone else see this?

[Bob]

Eclipxe says-> “Two homes up my street just sold for >$100 sqft. Similar sq footage as mine. I got in at around $95 psqf.I’ll call a bottom along with TemeculaGuy.”

Eclipxe, your example hardly qualifies as a total representation of the market to make such a bold statement, does it ? For example, I know of two beautiful properties that sold earlier this month, a 4000 sqft. in Vail Ranch that sold for $81 sqft., and another beauty in one of the nicest hoods in Red Hawk for $84 sqft. The comps in Red Hawk sold for $110 in late 2008.

As for your comment regarding government intervention, you are correct that its massive. But the point I’m making is that the most important interventionist policy thus far has been the moratoriums – both by the government and by the banks/Fannie/Freddie. Because of the moratoriums, the supply of new properties hitting the market has been curtailed during the last three months. But those moratoriums are now OVER, at least for now. This isn’t rocket science…as supply once again increases, there will be downward pressure on prices – particulary with the high unemployment numbers . The Feds will try to their hardest to artificially reduce supply, but one way or the other, the market has a way of eventually correcting itself.

And I’ll add one more point – mortgage rates have only one direction to go, and thats up. What type of predictions will you all make next year if rates are at 6% or 7%, while unemployment is projected to be near 11% statewide ? Under that scenario, my estimate is that housing prices will remain flat at best.

I’m not a bull or a bear, but a realist. The economy is nearing the end of the deflationary cycle, thats true. But coming soon is the second part of the equation, which is inflation. With their efforts to reinflate the economy, the Feds are creating future inflation that will be every bit as nasty as the deflationary cycle we’ve experienced for the past year. If inflation gets out of control,(spending trillions has a way of doing that) mortgage rates could skyrocket like they did in the late 70’s. I’m not predicting they will, but I wouldn’t be surprised if mortgage rates are in the 7%-8% range by the end of 2010. Higher rates alone will kill any housing recovery under that scenario when factoring in unemployment numbers.

[Bob]

Eclipxe says-> “Two homes up my street just sold for >$100 sqft. Similar sq footage as mine. I got in at around $95 psqf.I’ll call a bottom along with TemeculaGuy.”

Eclipxe, your example hardly qualifies as a total representation of the market to make such a bold statement, does it ? For example, I know of two beautiful properties that sold earlier this month, a 4000 sqft. in Vail Ranch that sold for $81 sqft., and another beauty in one of the nicest hoods in Red Hawk for $84 sqft. The comps in Red Hawk sold for $110 in late 2008.

As for your comment regarding government intervention, you are correct that its massive. But the point I’m making is that the most important interventionist policy thus far has been the moratoriums – both by the government and by the banks/Fannie/Freddie. Because of the moratoriums, the supply of new properties hitting the market has been curtailed during the last three months. But those moratoriums are now OVER, at least for now. This isn’t rocket science…as supply once again increases, there will be downward pressure on prices – particulary with the high unemployment numbers . The Feds will try to their hardest to artificially reduce supply, but one way or the other, the market has a way of eventually correcting itself.

And I’ll add one more point – mortgage rates have only one direction to go, and thats up. What type of predictions will you all make next year if rates are at 6% or 7%, while unemployment is projected to be near 11% statewide ? Under that scenario, my estimate is that housing prices will remain flat at best.

I’m not a bull or a bear, but a realist. The economy is nearing the end of the deflationary cycle, thats true. But coming soon is the second part of the equation, which is inflation. With their efforts to reinflate the economy, the Feds are creating future inflation that will be every bit as nasty as the deflationary cycle we’ve experienced for the past year. If inflation gets out of control,(spending trillions has a way of doing that) mortgage rates could skyrocket like they did in the late 70’s. I’m not predicting they will, but I wouldn’t be surprised if mortgage rates are in the 7%-8% range by the end of 2010. Higher rates alone will kill any housing recovery under that scenario when factoring in unemployment numbers.

[Bob]

Eclipxe says-> “Two homes up my street just sold for >$100 sqft. Similar sq footage as mine. I got in at around $95 psqf.I’ll call a bottom along with TemeculaGuy.”

Eclipxe, your example hardly qualifies as a total representation of the market to make such a bold statement, does it ? For example, I know of two beautiful properties that sold earlier this month, a 4000 sqft. in Vail Ranch that sold for $81 sqft., and another beauty in one of the nicest hoods in Red Hawk for $84 sqft. The comps in Red Hawk sold for $110 in late 2008.

As for your comment regarding government intervention, you are correct that its massive. But the point I’m making is that the most important interventionist policy thus far has been the moratoriums – both by the government and by the banks/Fannie/Freddie. Because of the moratoriums, the supply of new properties hitting the market has been curtailed during the last three months. But those moratoriums are now OVER, at least for now. This isn’t rocket science…as supply once again increases, there will be downward pressure on prices – particulary with the high unemployment numbers . The Feds will try to their hardest to artificially reduce supply, but one way or the other, the market has a way of eventually correcting itself.

And I’ll add one more point – mortgage rates have only one direction to go, and thats up. What type of predictions will you all make next year if rates are at 6% or 7%, while unemployment is projected to be near 11% statewide ? Under that scenario, my estimate is that housing prices will remain flat at best.

I’m not a bull or a bear, but a realist. The economy is nearing the end of the deflationary cycle, thats true. But coming soon is the second part of the equation, which is inflation. With their efforts to reinflate the economy, the Feds are creating future inflation that will be every bit as nasty as the deflationary cycle we’ve experienced for the past year. If inflation gets out of control,(spending trillions has a way of doing that) mortgage rates could skyrocket like they did in the late 70’s. I’m not predicting they will, but I wouldn’t be surprised if mortgage rates are in the 7%-8% range by the end of 2010. Higher rates alone will kill any housing recovery under that scenario when factoring in unemployment numbers.

[Bob]

Eclipxe says-> “Two homes up my street just sold for >$100 sqft. Similar sq footage as mine. I got in at around $95 psqf.I’ll call a bottom along with TemeculaGuy.”

Eclipxe, your example hardly qualifies as a total representation of the market to make such a bold statement, does it ? For example, I know of two beautiful properties that sold earlier this month, a 4000 sqft. in Vail Ranch that sold for $81 sqft., and another beauty in one of the nicest hoods in Red Hawk for $84 sqft. The comps in Red Hawk sold for $110 in late 2008.

As for your comment regarding government intervention, you are correct that its massive. But the point I’m making is that the most important interventionist policy thus far has been the moratoriums – both by the government and by the banks/Fannie/Freddie. Because of the moratoriums, the supply of new properties hitting the market has been curtailed during the last three months. But those moratoriums are now OVER, at least for now. This isn’t rocket science…as supply once again increases, there will be downward pressure on prices – particulary with the high unemployment numbers . The Feds will try to their hardest to artificially reduce supply, but one way or the other, the market has a way of eventually correcting itself.

And I’ll add one more point – mortgage rates have only one direction to go, and thats up. What type of predictions will you all make next year if rates are at 6% or 7%, while unemployment is projected to be near 11% statewide ? Under that scenario, my estimate is that housing prices will remain flat at best.

I’m not a bull or a bear, but a realist. The economy is nearing the end of the deflationary cycle, thats true. But coming soon is the second part of the equation, which is inflation. With their efforts to reinflate the economy, the Feds are creating future inflation that will be every bit as nasty as the deflationary cycle we’ve experienced for the past year. If inflation gets out of control,(spending trillions has a way of doing that) mortgage rates could skyrocket like they did in the late 70’s. I’m not predicting they will, but I wouldn’t be surprised if mortgage rates are in the 7%-8% range by the end of 2010. Higher rates alone will kill any housing recovery under that scenario when factoring in unemployment numbers.

[Bob]

Eclipxe says-> “Two homes up my street just sold for >$100 sqft. Similar sq footage as mine. I got in at around $95 psqf.I’ll call a bottom along with TemeculaGuy.”

Eclipxe, your example hardly qualifies as a total representation of the market to make such a bold statement, does it ? For example, I know of two beautiful properties that sold earlier this month, a 4000 sqft. in Vail Ranch that sold for $81 sqft., and another beauty in one of the nicest hoods in Red Hawk for $84 sqft. The comps in Red Hawk sold for $110 in late 2008.

As for your comment regarding government intervention, you are correct that its massive. But the point I’m making is that the most important interventionist policy thus far has been the moratoriums – both by the government and by the banks/Fannie/Freddie. Because of the moratoriums, the supply of new properties hitting the market has been curtailed during the last three months. But those moratoriums are now OVER, at least for now. This isn’t rocket science…as supply once again increases, there will be downward pressure on prices – particulary with the high unemployment numbers . The Feds will try to their hardest to artificially reduce supply, but one way or the other, the market has a way of eventually correcting itself.

And I’ll add one more point – mortgage rates have only one direction to go, and thats up. What type of predictions will you all make next year if rates are at 6% or 7%, while unemployment is projected to be near 11% statewide ? Under that scenario, my estimate is that housing prices will remain flat at best.

I’m not a bull or a bear, but a realist. The economy is nearing the end of the deflationary cycle, thats true. But coming soon is the second part of the equation, which is inflation. With their efforts to reinflate the economy, the Feds are creating future inflation that will be every bit as nasty as the deflationary cycle we’ve experienced for the past year. If inflation gets out of control,(spending trillions has a way of doing that) mortgage rates could skyrocket like they did in the late 70’s. I’m not predicting they will, but I wouldn’t be surprised if mortgage rates are in the 7%-8% range by the end of 2010. Higher rates alone will kill any housing recovery under that scenario when factoring in unemployment numbers.

[temeculaguy]

bob, you may be right but using the actions of the fed, the banks and the gov’t as an indicator of a specific micromarket, an actual zip code doesn’t hold water. Obama doesn’t lose sleep about 92592. we are at 60% off, we are at mid 1990’s pricing, some are tied with 1991. Until exclipse joined in, I was the only one making that call, I went babe ruth, pointed at right field and I’ll suffer the consequences if wrong. I did not, repeat, did not, call bottom for any other area. most have much more to lose.

Harry, there is only one street in all of vail ranch that is larger than 3000 sq ft, it’s a fill in street on Valentino. Vail is entry level, mostly sub 2k sq ft without an hoa and has/will fall a little harder due to the smaller housing stock, poor condition, older homes and higher rental percentage, valentino is an anomoly, one street of nice, big houses in a low end neighborhood, $80 a square is a gift and not indicative of the market as a whole. The best house in the worst neighborhood is still not as good as the worst house in the best neighborhood.

Either way $80 is a fair sq ft price and is one of the factors I considered in calling bottom, I paid in the 80 range for morgan hill, with luck you can find it in morgan and redhawk, logic says it should be less as you move down the foodchain neighborhood wise. But it won’t be move in condition, one of the reasons for the spread, lot size/view, house size (smaller tends to have higher ppsf) etc can cause the 80-100 a square variation. If it goes 50-70 a square with regularity, then of course I won’t be able to show my face around here.

It isn’t pure supply and demand, because it isn’t in a vaccum, demand doesn’t have to come from the local population. When it reaches texas pricing, it becomes attractive to retirees or refugees from higher priced areas, something often overlooked.

Everyone has made their opinions known, all I ask is for anyone to quote a ppsf for an average house or a specific one. What do you think a 2500 redhawk house will fall to. They are about 250k now, with a plus or minus depending on various factors, if you think they will go to 150k, then call it, if you think they will hit 75k, then call it. I remember bearvine telling me that the houses i was looking at would get to the 250-300 range for over 3000 sq ft, near new in morgan, with lots of bells and whistles. They did for a few seconds, I took the bait, if it turns out I’m wrong then all I lost was some credibility online. Either way, I was paying 1500 to rent a condo, now I pay 2000 to own a house twice as large and after the tax deduxtion, it’s a wash. That, is why I called bottom. Because those condos I rented can be bought with an fha loan for 700 a month. Even with 20% unemployment, even if middle aged women have to work, they can buy a condo with their mall job, that is another reason for me calling bottom. Do you really think there is another 25 or 50% left in the downturn? Do you think that the apartment like condos on 79S that are going for 100k will be 50k, or the large townhouses with 2 car attached garages and yards off butterfield will go for 70k (140k is the going rate today). Really?

See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.

[temeculaguy]

bob, you may be right but using the actions of the fed, the banks and the gov’t as an indicator of a specific micromarket, an actual zip code doesn’t hold water. Obama doesn’t lose sleep about 92592. we are at 60% off, we are at mid 1990’s pricing, some are tied with 1991. Until exclipse joined in, I was the only one making that call, I went babe ruth, pointed at right field and I’ll suffer the consequences if wrong. I did not, repeat, did not, call bottom for any other area. most have much more to lose.

Harry, there is only one street in all of vail ranch that is larger than 3000 sq ft, it’s a fill in street on Valentino. Vail is entry level, mostly sub 2k sq ft without an hoa and has/will fall a little harder due to the smaller housing stock, poor condition, older homes and higher rental percentage, valentino is an anomoly, one street of nice, big houses in a low end neighborhood, $80 a square is a gift and not indicative of the market as a whole. The best house in the worst neighborhood is still not as good as the worst house in the best neighborhood.

Either way $80 is a fair sq ft price and is one of the factors I considered in calling bottom, I paid in the 80 range for morgan hill, with luck you can find it in morgan and redhawk, logic says it should be less as you move down the foodchain neighborhood wise. But it won’t be move in condition, one of the reasons for the spread, lot size/view, house size (smaller tends to have higher ppsf) etc can cause the 80-100 a square variation. If it goes 50-70 a square with regularity, then of course I won’t be able to show my face around here.

It isn’t pure supply and demand, because it isn’t in a vaccum, demand doesn’t have to come from the local population. When it reaches texas pricing, it becomes attractive to retirees or refugees from higher priced areas, something often overlooked.

Everyone has made their opinions known, all I ask is for anyone to quote a ppsf for an average house or a specific one. What do you think a 2500 redhawk house will fall to. They are about 250k now, with a plus or minus depending on various factors, if you think they will go to 150k, then call it, if you think they will hit 75k, then call it. I remember bearvine telling me that the houses i was looking at would get to the 250-300 range for over 3000 sq ft, near new in morgan, with lots of bells and whistles. They did for a few seconds, I took the bait, if it turns out I’m wrong then all I lost was some credibility online. Either way, I was paying 1500 to rent a condo, now I pay 2000 to own a house twice as large and after the tax deduxtion, it’s a wash. That, is why I called bottom. Because those condos I rented can be bought with an fha loan for 700 a month. Even with 20% unemployment, even if middle aged women have to work, they can buy a condo with their mall job, that is another reason for me calling bottom. Do you really think there is another 25 or 50% left in the downturn? Do you think that the apartment like condos on 79S that are going for 100k will be 50k, or the large townhouses with 2 car attached garages and yards off butterfield will go for 70k (140k is the going rate today). Really?

See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.

[temeculaguy]

bob, you may be right but using the actions of the fed, the banks and the gov’t as an indicator of a specific micromarket, an actual zip code doesn’t hold water. Obama doesn’t lose sleep about 92592. we are at 60% off, we are at mid 1990’s pricing, some are tied with 1991. Until exclipse joined in, I was the only one making that call, I went babe ruth, pointed at right field and I’ll suffer the consequences if wrong. I did not, repeat, did not, call bottom for any other area. most have much more to lose.

Harry, there is only one street in all of vail ranch that is larger than 3000 sq ft, it’s a fill in street on Valentino. Vail is entry level, mostly sub 2k sq ft without an hoa and has/will fall a little harder due to the smaller housing stock, poor condition, older homes and higher rental percentage, valentino is an anomoly, one street of nice, big houses in a low end neighborhood, $80 a square is a gift and not indicative of the market as a whole. The best house in the worst neighborhood is still not as good as the worst house in the best neighborhood.

Either way $80 is a fair sq ft price and is one of the factors I considered in calling bottom, I paid in the 80 range for morgan hill, with luck you can find it in morgan and redhawk, logic says it should be less as you move down the foodchain neighborhood wise. But it won’t be move in condition, one of the reasons for the spread, lot size/view, house size (smaller tends to have higher ppsf) etc can cause the 80-100 a square variation. If it goes 50-70 a square with regularity, then of course I won’t be able to show my face around here.

It isn’t pure supply and demand, because it isn’t in a vaccum, demand doesn’t have to come from the local population. When it reaches texas pricing, it becomes attractive to retirees or refugees from higher priced areas, something often overlooked.

Everyone has made their opinions known, all I ask is for anyone to quote a ppsf for an average house or a specific one. What do you think a 2500 redhawk house will fall to. They are about 250k now, with a plus or minus depending on various factors, if you think they will go to 150k, then call it, if you think they will hit 75k, then call it. I remember bearvine telling me that the houses i was looking at would get to the 250-300 range for over 3000 sq ft, near new in morgan, with lots of bells and whistles. They did for a few seconds, I took the bait, if it turns out I’m wrong then all I lost was some credibility online. Either way, I was paying 1500 to rent a condo, now I pay 2000 to own a house twice as large and after the tax deduxtion, it’s a wash. That, is why I called bottom. Because those condos I rented can be bought with an fha loan for 700 a month. Even with 20% unemployment, even if middle aged women have to work, they can buy a condo with their mall job, that is another reason for me calling bottom. Do you really think there is another 25 or 50% left in the downturn? Do you think that the apartment like condos on 79S that are going for 100k will be 50k, or the large townhouses with 2 car attached garages and yards off butterfield will go for 70k (140k is the going rate today). Really?

See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.

[temeculaguy]

bob, you may be right but using the actions of the fed, the banks and the gov’t as an indicator of a specific micromarket, an actual zip code doesn’t hold water. Obama doesn’t lose sleep about 92592. we are at 60% off, we are at mid 1990’s pricing, some are tied with 1991. Until exclipse joined in, I was the only one making that call, I went babe ruth, pointed at right field and I’ll suffer the consequences if wrong. I did not, repeat, did not, call bottom for any other area. most have much more to lose.

Harry, there is only one street in all of vail ranch that is larger than 3000 sq ft, it’s a fill in street on Valentino. Vail is entry level, mostly sub 2k sq ft without an hoa and has/will fall a little harder due to the smaller housing stock, poor condition, older homes and higher rental percentage, valentino is an anomoly, one street of nice, big houses in a low end neighborhood, $80 a square is a gift and not indicative of the market as a whole. The best house in the worst neighborhood is still not as good as the worst house in the best neighborhood.

Either way $80 is a fair sq ft price and is one of the factors I considered in calling bottom, I paid in the 80 range for morgan hill, with luck you can find it in morgan and redhawk, logic says it should be less as you move down the foodchain neighborhood wise. But it won’t be move in condition, one of the reasons for the spread, lot size/view, house size (smaller tends to have higher ppsf) etc can cause the 80-100 a square variation. If it goes 50-70 a square with regularity, then of course I won’t be able to show my face around here.

It isn’t pure supply and demand, because it isn’t in a vaccum, demand doesn’t have to come from the local population. When it reaches texas pricing, it becomes attractive to retirees or refugees from higher priced areas, something often overlooked.

Everyone has made their opinions known, all I ask is for anyone to quote a ppsf for an average house or a specific one. What do you think a 2500 redhawk house will fall to. They are about 250k now, with a plus or minus depending on various factors, if you think they will go to 150k, then call it, if you think they will hit 75k, then call it. I remember bearvine telling me that the houses i was looking at would get to the 250-300 range for over 3000 sq ft, near new in morgan, with lots of bells and whistles. They did for a few seconds, I took the bait, if it turns out I’m wrong then all I lost was some credibility online. Either way, I was paying 1500 to rent a condo, now I pay 2000 to own a house twice as large and after the tax deduxtion, it’s a wash. That, is why I called bottom. Because those condos I rented can be bought with an fha loan for 700 a month. Even with 20% unemployment, even if middle aged women have to work, they can buy a condo with their mall job, that is another reason for me calling bottom. Do you really think there is another 25 or 50% left in the downturn? Do you think that the apartment like condos on 79S that are going for 100k will be 50k, or the large townhouses with 2 car attached garages and yards off butterfield will go for 70k (140k is the going rate today). Really?

See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.

[temeculaguy]

bob, you may be right but using the actions of the fed, the banks and the gov’t as an indicator of a specific micromarket, an actual zip code doesn’t hold water. Obama doesn’t lose sleep about 92592. we are at 60% off, we are at mid 1990’s pricing, some are tied with 1991. Until exclipse joined in, I was the only one making that call, I went babe ruth, pointed at right field and I’ll suffer the consequences if wrong. I did not, repeat, did not, call bottom for any other area. most have much more to lose.

Harry, there is only one street in all of vail ranch that is larger than 3000 sq ft, it’s a fill in street on Valentino. Vail is entry level, mostly sub 2k sq ft without an hoa and has/will fall a little harder due to the smaller housing stock, poor condition, older homes and higher rental percentage, valentino is an anomoly, one street of nice, big houses in a low end neighborhood, $80 a square is a gift and not indicative of the market as a whole. The best house in the worst neighborhood is still not as good as the worst house in the best neighborhood.

Either way $80 is a fair sq ft price and is one of the factors I considered in calling bottom, I paid in the 80 range for morgan hill, with luck you can find it in morgan and redhawk, logic says it should be less as you move down the foodchain neighborhood wise. But it won’t be move in condition, one of the reasons for the spread, lot size/view, house size (smaller tends to have higher ppsf) etc can cause the 80-100 a square variation. If it goes 50-70 a square with regularity, then of course I won’t be able to show my face around here.

It isn’t pure supply and demand, because it isn’t in a vaccum, demand doesn’t have to come from the local population. When it reaches texas pricing, it becomes attractive to retirees or refugees from higher priced areas, something often overlooked.

Everyone has made their opinions known, all I ask is for anyone to quote a ppsf for an average house or a specific one. What do you think a 2500 redhawk house will fall to. They are about 250k now, with a plus or minus depending on various factors, if you think they will go to 150k, then call it, if you think they will hit 75k, then call it. I remember bearvine telling me that the houses i was looking at would get to the 250-300 range for over 3000 sq ft, near new in morgan, with lots of bells and whistles. They did for a few seconds, I took the bait, if it turns out I’m wrong then all I lost was some credibility online. Either way, I was paying 1500 to rent a condo, now I pay 2000 to own a house twice as large and after the tax deduxtion, it’s a wash. That, is why I called bottom. Because those condos I rented can be bought with an fha loan for 700 a month. Even with 20% unemployment, even if middle aged women have to work, they can buy a condo with their mall job, that is another reason for me calling bottom. Do you really think there is another 25 or 50% left in the downturn? Do you think that the apartment like condos on 79S that are going for 100k will be 50k, or the large townhouses with 2 car attached garages and yards off butterfield will go for 70k (140k is the going rate today). Really?

See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.

[Bob]

[quote=temeculaguy]See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.[/quote]

You are correct….if people are smart, they shouldn’t listen to what the pundits say. And for the last month, some of the so called “pundits” have been proclaiming we are at bottom. But not one of them, nor you, have acknowledged the simple fact that during the last four months MORATORIUMS HAVE REDUCED THE SUPPLY.

Once the moratoriums are over, which seems to be the case for now, supply will increase. And every study I’ve read suggests that there are still thousands of bad loans in Riverside county, including TV, that need to go through the system. While its true that some of those bad loans will be modified, as I’ve stated previously, most of them won’t be. The increased supply will once again put downward pressure on prices…its basic economics.

[Bob]

[quote=temeculaguy]See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.[/quote]

You are correct….if people are smart, they shouldn’t listen to what the pundits say. And for the last month, some of the so called “pundits” have been proclaiming we are at bottom. But not one of them, nor you, have acknowledged the simple fact that during the last four months MORATORIUMS HAVE REDUCED THE SUPPLY.

Once the moratoriums are over, which seems to be the case for now, supply will increase. And every study I’ve read suggests that there are still thousands of bad loans in Riverside county, including TV, that need to go through the system. While its true that some of those bad loans will be modified, as I’ve stated previously, most of them won’t be. The increased supply will once again put downward pressure on prices…its basic economics.

[Bob]

[quote=temeculaguy]See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.[/quote]

You are correct….if people are smart, they shouldn’t listen to what the pundits say. And for the last month, some of the so called “pundits” have been proclaiming we are at bottom. But not one of them, nor you, have acknowledged the simple fact that during the last four months MORATORIUMS HAVE REDUCED THE SUPPLY.

Once the moratoriums are over, which seems to be the case for now, supply will increase. And every study I’ve read suggests that there are still thousands of bad loans in Riverside county, including TV, that need to go through the system. While its true that some of those bad loans will be modified, as I’ve stated previously, most of them won’t be. The increased supply will once again put downward pressure on prices…its basic economics.

[Bob]

[quote=temeculaguy]See, not all people read the financial horror stories, the normal folk look at their own numbers. If one cell phone service is half the price of another, they switch. If Wallmart is cheaper, they go there. And if they can actually save on rent, as much as 1/3 off by buying with as little as 3% down, they buy. They could give a crap what the pundits say.[/quote]

You are correct….if people are smart, they shouldn’t listen to what the pundits say. And for the last month, some of the so called “pundits” have been proclaiming we are at bottom. But not one of them, nor you, have acknowledged the simple fact that during the last four months MORATORIUMS HAVE REDUCED THE SUPPLY.

Once the moratoriums are over, which seems to be the case for now, supply will increase. And every study I’ve read suggests that there are still thousands of bad loans in Riverside county, including TV, that need to go through the system. While its true that some of those bad loans will be modified, as I’ve stated previously, most of them won’t be. The increased supply will once again put downward pressure on prices…its basic economics.

[Author]

Posts