Housing won’t hit bottom ’til 2012

[an]

[quote=DumpsterDiver]Excellent so one year after this thread. Looking at the graphs the differences between 2009 to the end of 2011 looked pretty marginal? Looks like the time this thread took place was a spectacular time to buy as the rocket ship launched again early 2012. Any way to reach out to the participants? Would be great to hear how they all fared.[/quote]I bought my primary residence on Christmas eve 2008. It essentially stayed flat for the next 4 years. Which means, I was saving $ every month because my PITI – tax deduction was less than comparable rent. Then it sky rocket (it’s now almost 2x the price). All the while, mortgage rate keeps on dropping. I’m about to refi again at no cost for 3.125%. My new PITI will be less than rent of a 2 bedroom apartment nearby. No longer count tax deduction since the now crazy high standard deduction.

I just had to deal w/ living in a non-neighborhood with lots of lizards and walls.

[Coronita]

[quote=AN][quote=DumpsterDiver]Excellent so one year after this thread. Looking at the graphs the differences between 2009 to the end of 2011 looked pretty marginal? Looks like the time this thread took place was a spectacular time to buy as the rocket ship launched again early 2012. Any way to reach out to the participants? Would be great to hear how they all fared.[/quote]I bought my primary residence on Christmas eve 2008. It essentially stayed flat for the next 4 years. Which means, I was saving $ every month because my PITI – tax deduction was less than comparable rent. Then it sky rocket (it’s now almost 2x the price). All the while, mortgage rate keeps on dropping. I’m about to refi again at no cost for 3.125%. My new PITI will be less than rent of a 2 bedroom apartment nearby. No longer count tax deduction since the now crazy high standard deduction.

I just had to deal w/ living in a non-neighborhood with lots of lizards and walls.[/quote]

Welcome back, Pigg Emeritus. We missed you.

[an]

[quote=flu][quote=AN][quote=DumpsterDiver]Excellent so one year after this thread. Looking at the graphs the differences between 2009 to the end of 2011 looked pretty marginal? Looks like the time this thread took place was a spectacular time to buy as the rocket ship launched again early 2012. Any way to reach out to the participants? Would be great to hear how they all fared.[/quote]I bought my primary residence on Christmas eve 2008. It essentially stayed flat for the next 4 years. Which means, I was saving $ every month because my PITI – tax deduction was less than comparable rent. Then it sky rocket (it’s now almost 2x the price). All the while, mortgage rate keeps on dropping. I’m about to refi again at no cost for 3.125%. My new PITI will be less than rent of a 2 bedroom apartment nearby. No longer count tax deduction since the now crazy high standard deduction.

I just had to deal w/ living in a non-neighborhood with lots of lizards and walls.[/quote]

Welcome back, Pigg Emeritus. We missed you.[/quote]
LoL, you’re doing a fine job holding down the fort.

[FlyerInHi]

Buying at good time is not the same a buying at the bottom.
The topic was the bottom and the prediction was accurate.

If you broaden the argument enough, there’re lots of things we could do in life, else we may be dead. If you want to buy, then buy. No need to justify. But the bottom is still the bottom.

BTW, the right call on financing for maximum savings would have been an adjustable rate mortgage, not fixed.

[Coronita]

[quote=AN][quote=flu][quote=AN][quote=DumpsterDiver]Excellent so one year after this thread. Looking at the graphs the differences between 2009 to the end of 2011 looked pretty marginal? Looks like the time this thread took place was a spectacular time to buy as the rocket ship launched again early 2012. Any way to reach out to the participants? Would be great to hear how they all fared.[/quote]I bought my primary residence on Christmas eve 2008. It essentially stayed flat for the next 4 years. Which means, I was saving $ every month because my PITI – tax deduction was less than comparable rent. Then it sky rocket (it’s now almost 2x the price). All the while, mortgage rate keeps on dropping. I’m about to refi again at no cost for 3.125%. My new PITI will be less than rent of a 2 bedroom apartment nearby. No longer count tax deduction since the now crazy high standard deduction.

I just had to deal w/ living in a non-neighborhood with lots of lizards and walls.[/quote]

Welcome back, Pigg Emeritus. We missed you.[/quote]
LoL, you’re doing a fine job holding down the fort.[/quote]

This is what old soon to be retiring old farts do. First world problems 🙂

How are you doing , old friend? Hopefully life has been good for you as it’s been for several of us.

[an]

[quote=flu]This is what old soon to be retiring old farts do. First world problems 🙂

How are you doing , old friend? Hopefully life has been good for you as it’s been for several of us.[/quote]Life has been great. Got off the perma-bear train in 2008 and never looked back. Lucky I got off that train, else, there’s no way I would be in the place I am today. Although I say I would love to retire early, I’m not sure if I can. Enjoying running 100 MPH.

[an]

¯_(ツ)_/¯

[FlyerInHi]

Dup

[FlyerInHi]

Ok. You made the right decision for you. Just like some people said that buying at the peak was right for them because of marriage, kids…. whatever.

But the bottom still happened in 2012. And that won’t change. We’re talking about the economy, not about individual choices.

BTW, the prevailing “crystal ball” back then among the deficit hawks was that there would be high inflation because of deficit spending, bailouts, stimulus, etc….
But I knew there would be no inflation because of overcapacity and lack of demand. I knew because I read Robert Reich and Paul Krugman and Austan Goolsbee, economists who were right on the money. Since we’re talking about the economy, being wrong on policy and not taking advantage of virtually no inflation caused our society to forego a lot of wealth. China on the other hand went on an infrastructure building binge.

[Coronita]

[quote=AN][quote=flu]This is what old soon to be retiring old farts do. First world problems 🙂

How are you doing , old friend? Hopefully life has been good for you as it’s been for several of us.[/quote]Life has been great. Got off the perma-bear train in 2008 and never looked back. Lucky I got off that train, else, there’s no way I would be in the place I am today. Although I say I would love to retire early, I’m not sure if I can. Enjoying running 100 MPH.[/quote]

Cool! I’ve decided to slow down to 80mph , keeping it street legal. Lol.

So AN, as BG use to say “inquiring minds what know know”!!! Since handing over the title to you as “serial refinancer”……when are you planning to refinance again??? And how much in rebates are you milking this time, lol…You totally killed it with the ridiculously low below monthly loan payments, I’m guessing.

As they say in Star Trek. Live long and prosper.

[Anonymous]

[quote=FlyerInHi]Buying at good time is not the same a buying at the bottom.
The topic was the bottom and the prediction was accurate.

If you broaden the argument enough, there’re lots of things we could do in life, else we may be dead. If you want to buy, then buy. No need to justify. But the bottom is still the bottom.

BTW, the right call on financing for maximum savings would have been an adjustable rate mortgage, not fixed.[/quote]

The prediction was not yours and if you go back and read through the thread you were dead wrong through out the thread. Big melt down ahead, imminent boomer liquidating and over leveraged homeowners getting crushed? None of that happened. This thread was within a year of the technical bottom and within spitting distance pricewise. Stop trying to take credit for something you didn’t do revisionist Brian

[dinomite_33]

Speaking of refis, has anyone heard from Sheldon lately?

[FlyerInHi]

I don’t have time to read old stuff. Feel free to quote context if you wish.

Bottom line is that the bottom was 2012. No amount of individual anecdotes of success will change that the bottom was 2012. I didn’t even remember exactly until Rich confirmed. But 2009 or even 2010 as the bottom is laughable.

I do remember all the hyperinflation and dollar debasement talk after the recession. That was a monumental wrong that resulted in wrong policies that cost the American economy and American people dearly in lost opportunity.

While you’re dumpster diving, why not read some of Paul Krugman’s old articles. He was right on the money.

If anybody is a revisionist, you are. You have 20/20 hindsight, yet you resurrect an old thread to argue that the technical bottom is not the “real” bottom. That’s what fake new is all about.
Even with 20/20, you were wrong, so you call people to post their success stories. Nobody’s success story will change the fact 2012 was the bottom.

[an]

[quote=FlyerInHi]I don’t have time to read old stuff. Feel free to quote context if you wish.

Bottom line is that the bottom was 2012. No amount of individual anecdotes of success will change that the bottom was 2012. I didn’t even remember exactly until Rich confirmed. But 2009 or even 2010 as the bottom is laughable.

I do remember all the hyperinflation and dollar debasement talk after the recession. That was a monumental wrong that resulted in wrong policies that cost the American economy and American people dearly in lost opportunity.

While you’re dumpster diving, why not read some of Paul Krugman’s old articles. He was right on the money.

If anybody is a revisionist, you are. You have 20/20 hindsight, yet you resurrect an old thread to argue that the technical bottom is not the “real” bottom. That’s what fake new is all about.
Even with 20/20, you were wrong, so you call people to post their success stories. Nobody’s success story will change the fact 2012 was the bottom.[/quote]not in my zip code. Even if I didn’t hit the exact bottom, who the heck care? I hit it close enough. BTW, there were no house I wanted to buy at the bottom.

[FlyerInHi]

AN, someone cares enough you resurrect this old thread.
He has he benefit of hindsight. He should have known what the bottom was yet he argued that 2012 was not the bottom.

The person who wrote the article was accurate in his prediction. Simple.

Maybe you don’t care but that’s besides the point. Ok, you’re successful, you made your own bottom whenever. The bottom was still 2012.

[Author]

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