Fire will help market

[(former)FormerSanDiegan]

Or the other way to look at is the opportunity cost. I would rather have that money sitting somewhere collecting 5% interest than waiting to get it back in my tax return. I don’t know how many times I’ve had to explain that concept to people….

Not to defend the other position …

But, why do you think you need to wait for a tax return to have the benefit of lower taxes. You should simply set your withholding (or quarterly payments if you are not a W-2 employee) such that you pay approximately what you owe.

Paying too much and getting a refund later is giving Uncle Sam a tax-free loan. Like you said, I would rather have that money collecting 5% interest somewhere. One shouldn;t wait for their tax refund to benefit from lower taxes, regardless of the tax strategy deployed, whether it’s real estate, moving a few-hundred K into tax-free Munis, or whatever. I don’t know how many times I’ve had to explain that concept to people…

[the dingo]

Sdrealtor knows their stuff. That is correct, that we don’t have HOA in La Costa. Plus, no pmi. My loan is 40 year fixed with a 10 year interest only period. My loan is held by BOFA (Full Doc).
My only point earlier being that for most people working and clearing 80-110k, (which by the way are a lot of familes) home ownership is not that far off from affordability.
Would most of you agree that if you could get a single fam home in an area like Encinitas for 550k (and if they are listed at 550, you know that you can get one for 510-525) and a payment of between $3500-$3800 (tax included) that many people would see that as affordable?

[the dingo]

Sdrealtor knows their stuff. That is correct, that we don’t have HOA in La Costa. Plus, no pmi. My loan is 40 year fixed with a 10 year interest only period. My loan is held by BOFA (Full Doc).
My only point earlier being that for most people working and clearing 80-110k, (which by the way are a lot of familes) home ownership is not that far off from affordability.
Would most of you agree that if you could get a single fam home in an area like Encinitas for 550k (and if they are listed at 550, you know that you can get one for 510-525) and a payment of between $3500-$3800 (tax included) that many people would see that as affordable?

[the dingo]

Sdrealtor knows their stuff. That is correct, that we don’t have HOA in La Costa. Plus, no pmi. My loan is 40 year fixed with a 10 year interest only period. My loan is held by BOFA (Full Doc).
My only point earlier being that for most people working and clearing 80-110k, (which by the way are a lot of familes) home ownership is not that far off from affordability.
Would most of you agree that if you could get a single fam home in an area like Encinitas for 550k (and if they are listed at 550, you know that you can get one for 510-525) and a payment of between $3500-$3800 (tax included) that many people would see that as affordable?

[the dingo]

Let me preface that by saying that my wife and I don’t have any car payments, and we live off the envelope budget system. Maybe my estimation would be less accurate when speaking of people who have double car payments.We also have zero debt service.

[the dingo]

Let me preface that by saying that my wife and I don’t have any car payments, and we live off the envelope budget system. Maybe my estimation would be less accurate when speaking of people who have double car payments.We also have zero debt service.

[the dingo]

Let me preface that by saying that my wife and I don’t have any car payments, and we live off the envelope budget system. Maybe my estimation would be less accurate when speaking of people who have double car payments.We also have zero debt service.

[ibjames]

We clear 110k nicely, have 1 car payment, a student loan payment, and could never see 3500 as affordable or worthwhile

[ibjames]

We clear 110k nicely, have 1 car payment, a student loan payment, and could never see 3500 as affordable or worthwhile

[ibjames]

We clear 110k nicely, have 1 car payment, a student loan payment, and could never see 3500 as affordable or worthwhile

[Anonymous]

It’s the psychology …..

All this talk about rebuilding causing an economic stimulus misses the big issue: people will be less willing to buy in fire areas (i.e., all of North County) after this horrendous fire. Some people may leave; people outside of San Diego may be reluctant to move here and buy a home.

Perhaps the best example of a “perfect storm” contributing to a real estate collapse is what happened in Los Angeles in the mid 1990s — when a major earthquake, massive fires, and a violent urban riot coalesced into a “perfect storm” that contributed to a real estate downturn. Many people just gave up on L.A. and left. Granted, some of the downturn was ecoomic (aerospace layoffs were a big factor), but it is widely konwn that natural/unnatural disasters played a role in L.A.’s real estate meltdown in the 1990s.

So, in San Diego, things could get worse before they get better. The drought, and the risk of more fires, is worsening.

[Anonymous]

It’s the psychology …..

All this talk about rebuilding causing an economic stimulus misses the big issue: people will be less willing to buy in fire areas (i.e., all of North County) after this horrendous fire. Some people may leave; people outside of San Diego may be reluctant to move here and buy a home.

Perhaps the best example of a “perfect storm” contributing to a real estate collapse is what happened in Los Angeles in the mid 1990s — when a major earthquake, massive fires, and a violent urban riot coalesced into a “perfect storm” that contributed to a real estate downturn. Many people just gave up on L.A. and left. Granted, some of the downturn was ecoomic (aerospace layoffs were a big factor), but it is widely konwn that natural/unnatural disasters played a role in L.A.’s real estate meltdown in the 1990s.

So, in San Diego, things could get worse before they get better. The drought, and the risk of more fires, is worsening.

[Anonymous]

It’s the psychology …..

All this talk about rebuilding causing an economic stimulus misses the big issue: people will be less willing to buy in fire areas (i.e., all of North County) after this horrendous fire. Some people may leave; people outside of San Diego may be reluctant to move here and buy a home.

Perhaps the best example of a “perfect storm” contributing to a real estate collapse is what happened in Los Angeles in the mid 1990s — when a major earthquake, massive fires, and a violent urban riot coalesced into a “perfect storm” that contributed to a real estate downturn. Many people just gave up on L.A. and left. Granted, some of the downturn was ecoomic (aerospace layoffs were a big factor), but it is widely konwn that natural/unnatural disasters played a role in L.A.’s real estate meltdown in the 1990s.

So, in San Diego, things could get worse before they get better. The drought, and the risk of more fires, is worsening.

[5yearwaiter]

I was in Las Vegas this week and native of Las Vegas expressed now Las Vegas home prices may go up, due to San Diego wild fires. The reason he expressed exactly 4 years back after San Diego wild fires Las Vegas started catching up home prices sky rocketed @@ sounds to me all this kind of interpretations are wild and people are so optimistic around things happening like astrology.

5yearswaiter

[5yearwaiter]

I was in Las Vegas this week and native of Las Vegas expressed now Las Vegas home prices may go up, due to San Diego wild fires. The reason he expressed exactly 4 years back after San Diego wild fires Las Vegas started catching up home prices sky rocketed @@ sounds to me all this kind of interpretations are wild and people are so optimistic around things happening like astrology.

5yearswaiter

[Author]

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