- This topic has 27 replies, 8 voices, and was last updated 17 years, 1 month ago by
Blissful Ignoramus.
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October 23, 2007 at 3:47 PM #91137October 23, 2007 at 3:47 PM #91129
Raybyrnes
ParticipantI would think that with so many people permanently displaced this will change the supply and demand for rental units. WIth more people needing to rent I would thiunk this would allow for an increase in rental prices.
If the rental prices reach a new ground it changes the rent buy equilibrium.
On the jobs front constuction and builders are going to have business up to their eyeballs.
Additionally with government intervention and encouragement to lending institution to assist with the mortgage mess you may housing decline could easily decelerate and plateau earlier than people think.
October 23, 2007 at 3:47 PM #91124ParticipantI would think that with so many people permanently displaced this will change the supply and demand for rental units. WIth more people needing to rent I would thiunk this would allow for an increase in rental prices.
If the rental prices reach a new ground it changes the rent buy equilibrium.
On the jobs front constuction and builders are going to have business up to their eyeballs.
Additionally with government intervention and encouragement to lending institution to assist with the mortgage mess you may housing decline could easily decelerate and plateau earlier than people think.
October 23, 2007 at 3:47 PM #91107ParticipantI would think that with so many people permanently displaced this will change the supply and demand for rental units. WIth more people needing to rent I would thiunk this would allow for an increase in rental prices.
If the rental prices reach a new ground it changes the rent buy equilibrium.
On the jobs front constuction and builders are going to have business up to their eyeballs.
Additionally with government intervention and encouragement to lending institution to assist with the mortgage mess you may housing decline could easily decelerate and plateau earlier than people think.
October 23, 2007 at 5:11 PM #91166AKguy
ParticipantIt’s going to become even more difficult to buy, IMHO. Why? Because getting insurance is going to be more difficult and cost more. Allstate is declining to write more fire insurance in CA. Look what has happened in Florida after the hurricanes of recent years–insurance costs have gone through the roof.
The fires will stimulate construction-related employment, for sure.
October 23, 2007 at 5:11 PM #91189ParticipantIt’s going to become even more difficult to buy, IMHO. Why? Because getting insurance is going to be more difficult and cost more. Allstate is declining to write more fire insurance in CA. Look what has happened in Florida after the hurricanes of recent years–insurance costs have gone through the roof.
The fires will stimulate construction-related employment, for sure.
October 23, 2007 at 5:11 PM #91199ParticipantIt’s going to become even more difficult to buy, IMHO. Why? Because getting insurance is going to be more difficult and cost more. Allstate is declining to write more fire insurance in CA. Look what has happened in Florida after the hurricanes of recent years–insurance costs have gone through the roof.
The fires will stimulate construction-related employment, for sure.
October 24, 2007 at 8:32 AM #9131334f3f3f
ParticipantIt never ceases to amaze me, the differing emotive language used to describe the current housing market. “The hardest hit housing market …consolation …brakes on the housing crash.” Shouldn’t this read “housing market that is at last correcting itself …the unfortunate or misguided …may slow the imminent correction.”
My understanding is that we were (are) in a bubble, and that somewhere inside the definition is the term hyper-inflated, in other words over-valued. Please forgive my ignorance, but isn’t that generally a bad thing, viz; it has an eventual negative impact on things. So tell me then, why do so many articles seem to use a language emotionally charged with terms that seem in denial.
October 24, 2007 at 8:32 AM #91336ParticipantIt never ceases to amaze me, the differing emotive language used to describe the current housing market. “The hardest hit housing market …consolation …brakes on the housing crash.” Shouldn’t this read “housing market that is at last correcting itself …the unfortunate or misguided …may slow the imminent correction.”
My understanding is that we were (are) in a bubble, and that somewhere inside the definition is the term hyper-inflated, in other words over-valued. Please forgive my ignorance, but isn’t that generally a bad thing, viz; it has an eventual negative impact on things. So tell me then, why do so many articles seem to use a language emotionally charged with terms that seem in denial.
October 24, 2007 at 8:32 AM #91348ParticipantIt never ceases to amaze me, the differing emotive language used to describe the current housing market. “The hardest hit housing market …consolation …brakes on the housing crash.” Shouldn’t this read “housing market that is at last correcting itself …the unfortunate or misguided …may slow the imminent correction.”
My understanding is that we were (are) in a bubble, and that somewhere inside the definition is the term hyper-inflated, in other words over-valued. Please forgive my ignorance, but isn’t that generally a bad thing, viz; it has an eventual negative impact on things. So tell me then, why do so many articles seem to use a language emotionally charged with terms that seem in denial.
October 24, 2007 at 8:48 AM #91316Blissful Ignoramus
ParticipantThe current number of homes lost in SD County is something like 1100, and hopefully the final total won’t be much more than that if at all. That is going to be, what, 3000 or so folks displaced? How many tens of thousands of homes are on the market in SD County? Those numbers are a drop in the bucket, particularly when you consider the fact that most of those burned out will choose to rebuild.
I can see there being an impact on the short-term rental market, but won’t FEMA provide trailers for those burned out?
Really, the main impact here is that after two rounds of disastrous wildfires in a four year period, it will be harder to sell properties in areas that are more fire prone.
October 24, 2007 at 8:48 AM #91338ParticipantThe current number of homes lost in SD County is something like 1100, and hopefully the final total won’t be much more than that if at all. That is going to be, what, 3000 or so folks displaced? How many tens of thousands of homes are on the market in SD County? Those numbers are a drop in the bucket, particularly when you consider the fact that most of those burned out will choose to rebuild.
I can see there being an impact on the short-term rental market, but won’t FEMA provide trailers for those burned out?
Really, the main impact here is that after two rounds of disastrous wildfires in a four year period, it will be harder to sell properties in areas that are more fire prone.
October 24, 2007 at 8:48 AM #91350ParticipantThe current number of homes lost in SD County is something like 1100, and hopefully the final total won’t be much more than that if at all. That is going to be, what, 3000 or so folks displaced? How many tens of thousands of homes are on the market in SD County? Those numbers are a drop in the bucket, particularly when you consider the fact that most of those burned out will choose to rebuild.
I can see there being an impact on the short-term rental market, but won’t FEMA provide trailers for those burned out?
Really, the main impact here is that after two rounds of disastrous wildfires in a four year period, it will be harder to sell properties in areas that are more fire prone.
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