Giving in

[briansd1]

[quote=deadzone]Again, can you comment on the fact that May 2011 home sales are 27% off the historical average, even while interest rates are at all time lows? Is that an opinion or a fact? How you choose to interpret facts like this are up to you. If you want to belive the realtor crowd they will tell you this is nothing to worry about. But what do you believe?[/quote]

I believe that this housing recession is unlike the cyclical housing downturns of the past.

Buyers are clearly tapped out, so the pent up demand is not translating into sales because that demand lacks the ability to pay.

IMHO, households are tapped out because they have too many bills that require monthly payments. Our credit society has evolved to such a point that each portion of a person’s salary accounts for one monthly bill or another.

That’s why the easy credit and wealth effect of the bubble were essential in driving sales.

[lpjohnso]

I’m currently under contract on a house in San Marcos. It has been my dream to own again, but it is also my dream to find a great rental on the coast for close to the same price per month (I could never afford to BUY on the coast). I want to do what is best for my family (2 sons who are 1 and 4). What is the better decision financially? I am very, very conflicted…

[lpjohnso]

I’m currently under contract on a house in San Marcos. It has been my dream to own again, but it is also my dream to find a great rental on the coast for close to the same price per month (I could never afford to BUY on the coast). I want to do what is best for my family (2 sons who are 1 and 4). What is the better decision financially? I am very, very conflicted…

[lpjohnso]

I’m currently under contract on a house in San Marcos. It has been my dream to own again, but it is also my dream to find a great rental on the coast for close to the same price per month (I could never afford to BUY on the coast). I want to do what is best for my family (2 sons who are 1 and 4). What is the better decision financially? I am very, very conflicted…

[lpjohnso]

I’m currently under contract on a house in San Marcos. It has been my dream to own again, but it is also my dream to find a great rental on the coast for close to the same price per month (I could never afford to BUY on the coast). I want to do what is best for my family (2 sons who are 1 and 4). What is the better decision financially? I am very, very conflicted…

[lpjohnso]

I’m currently under contract on a house in San Marcos. It has been my dream to own again, but it is also my dream to find a great rental on the coast for close to the same price per month (I could never afford to BUY on the coast). I want to do what is best for my family (2 sons who are 1 and 4). What is the better decision financially? I am very, very conflicted…

[briansd1]

At the higher-end, we should wait until the fall to see what the lower GSE limits do the market.

Why buy anything during the spring/summer selling season that isn’t? At least wait to the fall/winter. That would be the wise thing to do in San Diego, IMO.

Sellers Brace for New Mortgage Caps
October Change Is Meant to Reduce the Government Footprint in Housing, but Industry Fears It Could Lead to Lower Prices

http://online.wsj.com/article/SB10001424052702303763404576420101788878440.html

[briansd1]

At the higher-end, we should wait until the fall to see what the lower GSE limits do the market.

Why buy anything during the spring/summer selling season that isn’t? At least wait to the fall/winter. That would be the wise thing to do in San Diego, IMO.

Sellers Brace for New Mortgage Caps
October Change Is Meant to Reduce the Government Footprint in Housing, but Industry Fears It Could Lead to Lower Prices

http://online.wsj.com/article/SB10001424052702303763404576420101788878440.html

[briansd1]

At the higher-end, we should wait until the fall to see what the lower GSE limits do the market.

Why buy anything during the spring/summer selling season that isn’t? At least wait to the fall/winter. That would be the wise thing to do in San Diego, IMO.

Sellers Brace for New Mortgage Caps
October Change Is Meant to Reduce the Government Footprint in Housing, but Industry Fears It Could Lead to Lower Prices

http://online.wsj.com/article/SB10001424052702303763404576420101788878440.html

[briansd1]

At the higher-end, we should wait until the fall to see what the lower GSE limits do the market.

Why buy anything during the spring/summer selling season that isn’t? At least wait to the fall/winter. That would be the wise thing to do in San Diego, IMO.

Sellers Brace for New Mortgage Caps
October Change Is Meant to Reduce the Government Footprint in Housing, but Industry Fears It Could Lead to Lower Prices

http://online.wsj.com/article/SB10001424052702303763404576420101788878440.html

[briansd1]

At the higher-end, we should wait until the fall to see what the lower GSE limits do the market.

Why buy anything during the spring/summer selling season that isn’t? At least wait to the fall/winter. That would be the wise thing to do in San Diego, IMO.

Sellers Brace for New Mortgage Caps
October Change Is Meant to Reduce the Government Footprint in Housing, but Industry Fears It Could Lead to Lower Prices

http://online.wsj.com/article/SB10001424052702303763404576420101788878440.html

[lpjohnso]

Thanks so much for that link. I was not aware that was going to happen and it was very informative. The house is only $330,000, so it may not be affected, but everything affects everything eventually, doesn’t it? I’m absolutely going into the deal knowing that I will lose money, and that’s unnerving.

[lpjohnso]

Thanks so much for that link. I was not aware that was going to happen and it was very informative. The house is only $330,000, so it may not be affected, but everything affects everything eventually, doesn’t it? I’m absolutely going into the deal knowing that I will lose money, and that’s unnerving.

[lpjohnso]

Thanks so much for that link. I was not aware that was going to happen and it was very informative. The house is only $330,000, so it may not be affected, but everything affects everything eventually, doesn’t it? I’m absolutely going into the deal knowing that I will lose money, and that’s unnerving.

[lpjohnso]

Thanks so much for that link. I was not aware that was going to happen and it was very informative. The house is only $330,000, so it may not be affected, but everything affects everything eventually, doesn’t it? I’m absolutely going into the deal knowing that I will lose money, and that’s unnerving.

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