Housing & economy doing great…shut down this site!

[AK]

I love this thread.

It would be more humorous if we weren’t surrounded by the economic wreckage caused by the scruffydogs of the world, but such is life.

Sometimes I hate being right 🙂

[AK]

And as long as we’re resurrecting old threads … wasn’t there someone here who called the top of the equities market in August 2007? And warned us that a real estate crash would take the financial system and the rest of the economy with it?

[AK]

And as long as we’re resurrecting old threads … wasn’t there someone here who called the top of the equities market in August 2007? And warned us that a real estate crash would take the financial system and the rest of the economy with it?

[AK]

And as long as we’re resurrecting old threads … wasn’t there someone here who called the top of the equities market in August 2007? And warned us that a real estate crash would take the financial system and the rest of the economy with it?

[AK]

And as long as we’re resurrecting old threads … wasn’t there someone here who called the top of the equities market in August 2007? And warned us that a real estate crash would take the financial system and the rest of the economy with it?

[AK]

And as long as we’re resurrecting old threads … wasn’t there someone here who called the top of the equities market in August 2007? And warned us that a real estate crash would take the financial system and the rest of the economy with it?

[sdrealtor]

Time to bring it back and time has been kind to the old dog. Good to see all these old names too.

Markets in good areas like coastal north county never fell much more than 20 %. And as the dog predicted the government did step in and bail everyone out. The market pretty much bottomed a year before the last post. About a year after the last post the market was clearly bottoming and not all that far off from starting what’s now been an almost 10 year bull run. So many smart folks ended up on the wrong side of history. Funny how things can work.

[gzz]

Around my area there was a double bottom, the first came at the bottom of the initial crash, then a wave of giant state and federal incentives to buy pumped the market up a bit, then the final fall and very bottom happened in late 2011.

Looks like the peak of the false start/bear market rally was around mid-2010, which you can see in Rich’s long term charts.

The 2009-10 stimmy as I recall was larger for new buyers getting lower end properties, so it might have passed NCC by completely.

[sdrealtor]

Market bounced around as you noted but there was no moment in time that was a magical bottom. Pretty much anything bought from 09–11 was at the bottom dependent upon the individual circumstances of the deal. Anyone who bought in that time frame did fantastic

[an]

Wish I have the $ I have today in 2008…

[scaredyclassic]

[quote=an]Wish I have the $ I have today in 2008…[/quote]

Yes. In reality, after i bought my house in 2010, i was pretty broke. Still i should have more money than i do now. Luckily, i think my desires and expenses are shrinking by the year.

[scaredyclassic]

Reminds me of this very old jackie mason comedy routine, very funny old comic, where ” every jew walks around nyc and has some building he points to and says i couldve bought that building for a nickel”.

I think the routine wad from the 60s. My point is, everything looks cheap in the past.

[sdrealtor]

[quote=scruffydog]I did not state that everyone should run out and buy real estate today – unless you love the property and are going to live in it awhile. I’m guessing we are at a cycle peak – prices will be flat for awhile. What I am trying to convey is that the market will NOT collapse as many of you want. The economy and most importantly the job market remain very healthy and wishing it were not so will not change reality.[/quote]

Welcome back Old Dog! Im gonna have to go back and read through the whole thing when time permits. Time only gets kinder to the old dog! Within 2 years of his post the market had pretty much bottomed and turned in 4. Now 15 years later it is about double what it was 15 years ago. What do the say about that guy who laughed last?

[svelte]

[quote=sdrealtor][quote=scruffydog]I did not state that everyone should run out and buy real estate today – unless you love the property and are going to live in it awhile. I’m guessing we are at a cycle peak – prices will be flat for awhile. What I am trying to convey is that the market will NOT collapse as many of you want. The economy and most importantly the job market remain very healthy and wishing it were not so will not change reality.[/quote]

Welcome back Old Dog! Im gonna have to go back and read through the whole thing when time permits. Time only gets kinder to the old dog! Within 2 years of his post the market had pretty much bottomed and turned in 4. [/quote]

Totally flabbergasted by this statement. Even in the passage you quote scruffy said that the market will NOT collapse – yet it did! When he made the statement (July 2007) we were at a market peak and within two years (Mar 2009) it went down almost 50%! He said prices would remain flat! How can you say his prediction was right?

[img_assist|nid=27514|title=San Diego Home Prices By Year|desc=|link=node|align=left|width=466|height=304]

[sdrealtor]

The markets did not collapse. Nicer parts of SD went down just over 20%. He said at peak but fine to but if you’re gonna live in it long term. 15 years later prices are double what they were in 07. The 50% decline was in low end and skewed because it was heavily weighted toward distressed sales. Non distressed sales were no where near those levels. Job market did fine. That pretty much covers it

[Author]

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