Giving in

[SD Realtor]

Dr Boom what the real estate industry says and does is something that I do not really care about. Read my posts and you will see that I am quite consistent in the facts. Those being that real estate in San Diego is still overpriced and that in my opinion there is more downside left. How much more is simply going to depend on interest rates. It is not that hard to figure out.

However taking a stand that the prices will go down because there is or will be a lack of organic buyers is a foolish approach. Organic buyers are there for many reasons whether it is similar to your own reason for buying, or for moving up, or for relocating or for whatever.

People have selected to buy for all sorts of reasons. There is not an argument of whether the asset will depreciate. There is an argument of how many of them tied up cash verses financing. There is no argument though that with regards to those who are (or were Piggs) that they did not understand the risks. True many of them weigh the risks differently, however they are not prone to to listen to the drone of the real estate complex.

As for the monthly payment, it goes without saying that it is all inclusive. I give the readers of this site credit enough to figure out that a monthly payment includes PITI and any other owner expense that is essentially recurring. I will say that it is my experience that yes, people do care more about the payment then the price. Of course it is a no brainer to buy the lower priced home at the higher rate. Not much rocket science there. The only problem is that the timeline is not mutually shared by all individuals.

[SD Realtor]

Deadzone to me the issue to buy or not to buy simply boils down to a personal choice. Anyone who buys because everyone around them is buying is doing so for the wrong reason. I could not put a number on it, but for most married couples, the choice to buy is made because one of the spouses wants a house plain and simple. So it is done in the name of harmony. I am not saying this is right or wrong, however it just is. Sales are down because inventory sucks and because homes are overpriced. They are not down because buyers have left the market. Buyers are frustrated with the market. Banks are still overpricing REOs and being stubborn with short sale approvals and quibbling over pricing. This has led to much longer shopping times for buyers.

Will this crater the market? No. Will this lead to a long slogging sort of market? Yes.

However to get the affect you are looking for that will really shake things down, the rates WILL do the trick. Note also that this holds true for generic homes in the 400k – 800k range depending on the neighborhood. When you get into the higher end stuff, it holds true as well but is stickier.

[SD Realtor]

Deadzone to me the issue to buy or not to buy simply boils down to a personal choice. Anyone who buys because everyone around them is buying is doing so for the wrong reason. I could not put a number on it, but for most married couples, the choice to buy is made because one of the spouses wants a house plain and simple. So it is done in the name of harmony. I am not saying this is right or wrong, however it just is. Sales are down because inventory sucks and because homes are overpriced. They are not down because buyers have left the market. Buyers are frustrated with the market. Banks are still overpricing REOs and being stubborn with short sale approvals and quibbling over pricing. This has led to much longer shopping times for buyers.

Will this crater the market? No. Will this lead to a long slogging sort of market? Yes.

However to get the affect you are looking for that will really shake things down, the rates WILL do the trick. Note also that this holds true for generic homes in the 400k – 800k range depending on the neighborhood. When you get into the higher end stuff, it holds true as well but is stickier.

[SD Realtor]

Deadzone to me the issue to buy or not to buy simply boils down to a personal choice. Anyone who buys because everyone around them is buying is doing so for the wrong reason. I could not put a number on it, but for most married couples, the choice to buy is made because one of the spouses wants a house plain and simple. So it is done in the name of harmony. I am not saying this is right or wrong, however it just is. Sales are down because inventory sucks and because homes are overpriced. They are not down because buyers have left the market. Buyers are frustrated with the market. Banks are still overpricing REOs and being stubborn with short sale approvals and quibbling over pricing. This has led to much longer shopping times for buyers.

Will this crater the market? No. Will this lead to a long slogging sort of market? Yes.

However to get the affect you are looking for that will really shake things down, the rates WILL do the trick. Note also that this holds true for generic homes in the 400k – 800k range depending on the neighborhood. When you get into the higher end stuff, it holds true as well but is stickier.

[SD Realtor]

Deadzone to me the issue to buy or not to buy simply boils down to a personal choice. Anyone who buys because everyone around them is buying is doing so for the wrong reason. I could not put a number on it, but for most married couples, the choice to buy is made because one of the spouses wants a house plain and simple. So it is done in the name of harmony. I am not saying this is right or wrong, however it just is. Sales are down because inventory sucks and because homes are overpriced. They are not down because buyers have left the market. Buyers are frustrated with the market. Banks are still overpricing REOs and being stubborn with short sale approvals and quibbling over pricing. This has led to much longer shopping times for buyers.

Will this crater the market? No. Will this lead to a long slogging sort of market? Yes.

However to get the affect you are looking for that will really shake things down, the rates WILL do the trick. Note also that this holds true for generic homes in the 400k – 800k range depending on the neighborhood. When you get into the higher end stuff, it holds true as well but is stickier.

[SD Realtor]

Deadzone to me the issue to buy or not to buy simply boils down to a personal choice. Anyone who buys because everyone around them is buying is doing so for the wrong reason. I could not put a number on it, but for most married couples, the choice to buy is made because one of the spouses wants a house plain and simple. So it is done in the name of harmony. I am not saying this is right or wrong, however it just is. Sales are down because inventory sucks and because homes are overpriced. They are not down because buyers have left the market. Buyers are frustrated with the market. Banks are still overpricing REOs and being stubborn with short sale approvals and quibbling over pricing. This has led to much longer shopping times for buyers.

Will this crater the market? No. Will this lead to a long slogging sort of market? Yes.

However to get the affect you are looking for that will really shake things down, the rates WILL do the trick. Note also that this holds true for generic homes in the 400k – 800k range depending on the neighborhood. When you get into the higher end stuff, it holds true as well but is stickier.

[bluehairdave]

[quote=SD Realtor]Deadzone to me the issue to buy or not to buy simply boils down to a personal choice. Anyone who buys because everyone around them is buying is doing so for the wrong reason. I could not put a number on it, but for most married couples, the choice to buy is made because one of the spouses wants a house plain and simple. So it is done in the name of harmony. I am not saying this is right or wrong, however it just is. Sales are down because inventory sucks and because homes are overpriced. They are not down because buyers have left the market. Buyers are frustrated with the market. Banks are still overpricing REOs and being stubborn with short sale approvals and quibbling over pricing. This has led to much longer shopping times for buyers.

Will this crater the market? No. Will this lead to a long slogging sort of market? Yes.

However to get the affect you are looking for that will really shake things down, the rates WILL do the trick. Note also that this holds true for generic homes in the 400k – 800k range depending on the neighborhood. When you get into the higher end stuff, it holds true as well but is stickier.[/quote]

I agree. It think its ridiculous that people put their lives and plans on hold to ‘wait for the market’ I find that people who find excuses of why not to go do things tend to always just have the excuses left at the end of the day. Next thing you know your 50 years old and never owned a home. And for many people home ownership irregardless of the ‘market’ is a life long goal.

Get married, buy a house, have a few kids buy a nicer and bigger house. Pay for college for the kids etc.. You know… Things that 90% of the rest of the world literally go to war to try to get the chance to do.

[bluehairdave]

[quote=SD Realtor]Deadzone to me the issue to buy or not to buy simply boils down to a personal choice. Anyone who buys because everyone around them is buying is doing so for the wrong reason. I could not put a number on it, but for most married couples, the choice to buy is made because one of the spouses wants a house plain and simple. So it is done in the name of harmony. I am not saying this is right or wrong, however it just is. Sales are down because inventory sucks and because homes are overpriced. They are not down because buyers have left the market. Buyers are frustrated with the market. Banks are still overpricing REOs and being stubborn with short sale approvals and quibbling over pricing. This has led to much longer shopping times for buyers.

Will this crater the market? No. Will this lead to a long slogging sort of market? Yes.

However to get the affect you are looking for that will really shake things down, the rates WILL do the trick. Note also that this holds true for generic homes in the 400k – 800k range depending on the neighborhood. When you get into the higher end stuff, it holds true as well but is stickier.[/quote]

I agree. It think its ridiculous that people put their lives and plans on hold to ‘wait for the market’ I find that people who find excuses of why not to go do things tend to always just have the excuses left at the end of the day. Next thing you know your 50 years old and never owned a home. And for many people home ownership irregardless of the ‘market’ is a life long goal.

Get married, buy a house, have a few kids buy a nicer and bigger house. Pay for college for the kids etc.. You know… Things that 90% of the rest of the world literally go to war to try to get the chance to do.

[bluehairdave]

[quote=SD Realtor]Deadzone to me the issue to buy or not to buy simply boils down to a personal choice. Anyone who buys because everyone around them is buying is doing so for the wrong reason. I could not put a number on it, but for most married couples, the choice to buy is made because one of the spouses wants a house plain and simple. So it is done in the name of harmony. I am not saying this is right or wrong, however it just is. Sales are down because inventory sucks and because homes are overpriced. They are not down because buyers have left the market. Buyers are frustrated with the market. Banks are still overpricing REOs and being stubborn with short sale approvals and quibbling over pricing. This has led to much longer shopping times for buyers.

Will this crater the market? No. Will this lead to a long slogging sort of market? Yes.

However to get the affect you are looking for that will really shake things down, the rates WILL do the trick. Note also that this holds true for generic homes in the 400k – 800k range depending on the neighborhood. When you get into the higher end stuff, it holds true as well but is stickier.[/quote]

I agree. It think its ridiculous that people put their lives and plans on hold to ‘wait for the market’ I find that people who find excuses of why not to go do things tend to always just have the excuses left at the end of the day. Next thing you know your 50 years old and never owned a home. And for many people home ownership irregardless of the ‘market’ is a life long goal.

Get married, buy a house, have a few kids buy a nicer and bigger house. Pay for college for the kids etc.. You know… Things that 90% of the rest of the world literally go to war to try to get the chance to do.

[bluehairdave]

[quote=SD Realtor]Deadzone to me the issue to buy or not to buy simply boils down to a personal choice. Anyone who buys because everyone around them is buying is doing so for the wrong reason. I could not put a number on it, but for most married couples, the choice to buy is made because one of the spouses wants a house plain and simple. So it is done in the name of harmony. I am not saying this is right or wrong, however it just is. Sales are down because inventory sucks and because homes are overpriced. They are not down because buyers have left the market. Buyers are frustrated with the market. Banks are still overpricing REOs and being stubborn with short sale approvals and quibbling over pricing. This has led to much longer shopping times for buyers.

Will this crater the market? No. Will this lead to a long slogging sort of market? Yes.

However to get the affect you are looking for that will really shake things down, the rates WILL do the trick. Note also that this holds true for generic homes in the 400k – 800k range depending on the neighborhood. When you get into the higher end stuff, it holds true as well but is stickier.[/quote]

I agree. It think its ridiculous that people put their lives and plans on hold to ‘wait for the market’ I find that people who find excuses of why not to go do things tend to always just have the excuses left at the end of the day. Next thing you know your 50 years old and never owned a home. And for many people home ownership irregardless of the ‘market’ is a life long goal.

Get married, buy a house, have a few kids buy a nicer and bigger house. Pay for college for the kids etc.. You know… Things that 90% of the rest of the world literally go to war to try to get the chance to do.

[bluehairdave]

[quote=SD Realtor]Deadzone to me the issue to buy or not to buy simply boils down to a personal choice. Anyone who buys because everyone around them is buying is doing so for the wrong reason. I could not put a number on it, but for most married couples, the choice to buy is made because one of the spouses wants a house plain and simple. So it is done in the name of harmony. I am not saying this is right or wrong, however it just is. Sales are down because inventory sucks and because homes are overpriced. They are not down because buyers have left the market. Buyers are frustrated with the market. Banks are still overpricing REOs and being stubborn with short sale approvals and quibbling over pricing. This has led to much longer shopping times for buyers.

Will this crater the market? No. Will this lead to a long slogging sort of market? Yes.

However to get the affect you are looking for that will really shake things down, the rates WILL do the trick. Note also that this holds true for generic homes in the 400k – 800k range depending on the neighborhood. When you get into the higher end stuff, it holds true as well but is stickier.[/quote]

I agree. It think its ridiculous that people put their lives and plans on hold to ‘wait for the market’ I find that people who find excuses of why not to go do things tend to always just have the excuses left at the end of the day. Next thing you know your 50 years old and never owned a home. And for many people home ownership irregardless of the ‘market’ is a life long goal.

Get married, buy a house, have a few kids buy a nicer and bigger house. Pay for college for the kids etc.. You know… Things that 90% of the rest of the world literally go to war to try to get the chance to do.

[scaredyclassic]

50 is not that old to wait to buy a house. And let’s be clear. No one is buying a house. we’re buying mortgages.

i think even normal people are starting to get that, esp. with the news articles on damaging homes in foreclosure. I was talking to someone who felt outraged at a recent damage case, that it “wasn’t their home to damage”. damn straight. it’s the banks, baby. you own nothing but the tax bill. and maybe a sliver of equity. maybe. and a low interest rate. and you can choose the color of paint (subject to local zoning ordinances, of course.

but home ownership. no. youowneffin nothing! NOTHING.

and you know what? they should be waiting to get married and have kids, too…

i don’t think any other countries would “literally go to war” to ahve a chance to get married, have kids, or get a mortgage.

maybe they’d go to war to make us pay our bills?

[scaredyclassic]

50 is not that old to wait to buy a house. And let’s be clear. No one is buying a house. we’re buying mortgages.

i think even normal people are starting to get that, esp. with the news articles on damaging homes in foreclosure. I was talking to someone who felt outraged at a recent damage case, that it “wasn’t their home to damage”. damn straight. it’s the banks, baby. you own nothing but the tax bill. and maybe a sliver of equity. maybe. and a low interest rate. and you can choose the color of paint (subject to local zoning ordinances, of course.

but home ownership. no. youowneffin nothing! NOTHING.

and you know what? they should be waiting to get married and have kids, too…

i don’t think any other countries would “literally go to war” to ahve a chance to get married, have kids, or get a mortgage.

maybe they’d go to war to make us pay our bills?

[scaredyclassic]

50 is not that old to wait to buy a house. And let’s be clear. No one is buying a house. we’re buying mortgages.

i think even normal people are starting to get that, esp. with the news articles on damaging homes in foreclosure. I was talking to someone who felt outraged at a recent damage case, that it “wasn’t their home to damage”. damn straight. it’s the banks, baby. you own nothing but the tax bill. and maybe a sliver of equity. maybe. and a low interest rate. and you can choose the color of paint (subject to local zoning ordinances, of course.

but home ownership. no. youowneffin nothing! NOTHING.

and you know what? they should be waiting to get married and have kids, too…

i don’t think any other countries would “literally go to war” to ahve a chance to get married, have kids, or get a mortgage.

maybe they’d go to war to make us pay our bills?

[scaredyclassic]

50 is not that old to wait to buy a house. And let’s be clear. No one is buying a house. we’re buying mortgages.

i think even normal people are starting to get that, esp. with the news articles on damaging homes in foreclosure. I was talking to someone who felt outraged at a recent damage case, that it “wasn’t their home to damage”. damn straight. it’s the banks, baby. you own nothing but the tax bill. and maybe a sliver of equity. maybe. and a low interest rate. and you can choose the color of paint (subject to local zoning ordinances, of course.

but home ownership. no. youowneffin nothing! NOTHING.

and you know what? they should be waiting to get married and have kids, too…

i don’t think any other countries would “literally go to war” to ahve a chance to get married, have kids, or get a mortgage.

maybe they’d go to war to make us pay our bills?

[Author]

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