1. Buy a house now and then (in say about 2011, but who knows) see if April 2008 was really the bottom.
2. Continue renting and (in say about 2011, but who knows) see if April 2008 was really the bottom.
I see option 2 as having almost no risk (and I hate saying no risk)
I see option 1 as being fraught with risk and speculation.
Just my opinion.
BTW Here’s a crappy graph I made using general figures of per capita income (which I just interpolated from Rich’s graphs so it’s not accurate, or could be totally wrong. Is it really just about $33,000?). I mapped what the price of a median house should be based on the historic peak price to income ratio, the historic median price to income ratio and the historic low price to income ratio and then increased the income by 4% each year to show what each price range should be in the future.
It’s not the most accurate graph (or pretty for that matter), but I hope it shows how much more this market could go down.
[img_assist|nid=7131|title=ptoi|desc=Price to Income Ratio|link=node|align=left|width=466|height=275]
A couple have probably hit the bottom. Some are not at the bottom but if they sell they won’t sell for less again and some will hit the bottom between now and the bottom and some will hit the bottom at the bottom and some won’t hit it until after the bottom. This is county wide and also includes condos and detached houses.
A couple have probably hit the bottom. Some are not at the bottom but if they sell they won’t sell for less again and some will hit the bottom between now and the bottom and some will hit the bottom at the bottom and some won’t hit it until after the bottom. This is county wide and also includes condos and detached houses.
A couple have probably hit the bottom. Some are not at the bottom but if they sell they won’t sell for less again and some will hit the bottom between now and the bottom and some will hit the bottom at the bottom and some won’t hit it until after the bottom. This is county wide and also includes condos and detached houses.
A couple have probably hit the bottom. Some are not at the bottom but if they sell they won’t sell for less again and some will hit the bottom between now and the bottom and some will hit the bottom at the bottom and some won’t hit it until after the bottom. This is county wide and also includes condos and detached houses.
A couple have probably hit the bottom. Some are not at the bottom but if they sell they won’t sell for less again and some will hit the bottom between now and the bottom and some will hit the bottom at the bottom and some won’t hit it until after the bottom. This is county wide and also includes condos and detached houses.
What makes you think that Temecula has not hit the bottom?
esmith, TemeculaGuy is our residence expert on Temecula & he wants to buy in Temecula one day. Currently, he's still very much "on the fence". What does that tell you ?
What makes you think that Temecula has not hit the bottom?
esmith, TemeculaGuy is our residence expert on Temecula & he wants to buy in Temecula one day. Currently, he's still very much "on the fence". What does that tell you ?
What makes you think that Temecula has not hit the bottom?
esmith, TemeculaGuy is our residence expert on Temecula & he wants to buy in Temecula one day. Currently, he's still very much "on the fence". What does that tell you ?
What makes you think that Temecula has not hit the bottom?
esmith, TemeculaGuy is our residence expert on Temecula & he wants to buy in Temecula one day. Currently, he's still very much "on the fence". What does that tell you ?
What makes you think that Temecula has not hit the bottom?
esmith, TemeculaGuy is our residence expert on Temecula & he wants to buy in Temecula one day. Currently, he's still very much "on the fence". What does that tell you ?
