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  • February 25, 2008 at 11:57 AM #159980
    Anonymous
    Guest

    it was in 2004, when I realized that maybe I shouldn’t be renting and should look to buy something, since some of my friends has purchased and were going on and on about how “rich” they were because of their new-found equity. I looked and realized that even with a decent salary, all houses around where I wanted to live were way out of my range unless I used exotic financing. I was not comfortable with that at all.

    I ended up buying out of state and renting it out. Sold in ’06 and made some money on it. Before I sold, somewhere in ’05, I knew that there was probably a bubble. It was ’06 where I realized that it had to collapse though (thanks to this site and others).

    February 25, 2008 at 12:02 PM #159595
    pk92108
    Participant

    When the brother-in law/ secretary / taxi driver/ weird cousin crowd starts up with stories about how much easy money they have been making outside their “regular” jobs…

    Substitute real estate for dot.com, it doesnt matter…That is one subjective sign of a bubble…Making “easy money” can only go on for so long…

    February 25, 2008 at 12:02 PM #159890
    pk92108
    Participant

    When the brother-in law/ secretary / taxi driver/ weird cousin crowd starts up with stories about how much easy money they have been making outside their “regular” jobs…

    Substitute real estate for dot.com, it doesnt matter…That is one subjective sign of a bubble…Making “easy money” can only go on for so long…

    February 25, 2008 at 12:02 PM #159903
    pk92108
    Participant

    When the brother-in law/ secretary / taxi driver/ weird cousin crowd starts up with stories about how much easy money they have been making outside their “regular” jobs…

    Substitute real estate for dot.com, it doesnt matter…That is one subjective sign of a bubble…Making “easy money” can only go on for so long…

    February 25, 2008 at 12:02 PM #159908
    pk92108
    Participant

    When the brother-in law/ secretary / taxi driver/ weird cousin crowd starts up with stories about how much easy money they have been making outside their “regular” jobs…

    Substitute real estate for dot.com, it doesnt matter…That is one subjective sign of a bubble…Making “easy money” can only go on for so long…

    February 25, 2008 at 12:02 PM #159985
    pk92108
    Participant

    When the brother-in law/ secretary / taxi driver/ weird cousin crowd starts up with stories about how much easy money they have been making outside their “regular” jobs…

    Substitute real estate for dot.com, it doesnt matter…That is one subjective sign of a bubble…Making “easy money” can only go on for so long…

    February 25, 2008 at 12:44 PM #159627
    treylane
    Participant

    Survived the .com bust with just a couple scratches – never unemployed, but definitely slow / nonexistent wage growth for awhile. Once wages started heading up again in 03-04 I started looking at listings in my (fairly old) neighborhood. The parents/in-laws started getting VERY noisy about “investing in real estate” … reminds me of when they started getting VERY noisy about investing in tech stocks in 00. Dodged that bullet too.

    Even though I wasn’t picky, any 1000sf box that didn’t need serious repairs would do, there was NOTHING acceptable under 500k. The payments would have been approx 3x my rent! A friend of mine sent me the link to piggingtons and I’ve been infuriating the parents and in-laws ever since.

    February 25, 2008 at 12:44 PM #159922
    treylane
    Participant

    Survived the .com bust with just a couple scratches – never unemployed, but definitely slow / nonexistent wage growth for awhile. Once wages started heading up again in 03-04 I started looking at listings in my (fairly old) neighborhood. The parents/in-laws started getting VERY noisy about “investing in real estate” … reminds me of when they started getting VERY noisy about investing in tech stocks in 00. Dodged that bullet too.

    Even though I wasn’t picky, any 1000sf box that didn’t need serious repairs would do, there was NOTHING acceptable under 500k. The payments would have been approx 3x my rent! A friend of mine sent me the link to piggingtons and I’ve been infuriating the parents and in-laws ever since.

    February 25, 2008 at 12:44 PM #159936
    treylane
    Participant

    Survived the .com bust with just a couple scratches – never unemployed, but definitely slow / nonexistent wage growth for awhile. Once wages started heading up again in 03-04 I started looking at listings in my (fairly old) neighborhood. The parents/in-laws started getting VERY noisy about “investing in real estate” … reminds me of when they started getting VERY noisy about investing in tech stocks in 00. Dodged that bullet too.

    Even though I wasn’t picky, any 1000sf box that didn’t need serious repairs would do, there was NOTHING acceptable under 500k. The payments would have been approx 3x my rent! A friend of mine sent me the link to piggingtons and I’ve been infuriating the parents and in-laws ever since.

    February 25, 2008 at 12:44 PM #159944
    treylane
    Participant

    Survived the .com bust with just a couple scratches – never unemployed, but definitely slow / nonexistent wage growth for awhile. Once wages started heading up again in 03-04 I started looking at listings in my (fairly old) neighborhood. The parents/in-laws started getting VERY noisy about “investing in real estate” … reminds me of when they started getting VERY noisy about investing in tech stocks in 00. Dodged that bullet too.

    Even though I wasn’t picky, any 1000sf box that didn’t need serious repairs would do, there was NOTHING acceptable under 500k. The payments would have been approx 3x my rent! A friend of mine sent me the link to piggingtons and I’ve been infuriating the parents and in-laws ever since.

    February 25, 2008 at 12:44 PM #160020
    treylane
    Participant

    Survived the .com bust with just a couple scratches – never unemployed, but definitely slow / nonexistent wage growth for awhile. Once wages started heading up again in 03-04 I started looking at listings in my (fairly old) neighborhood. The parents/in-laws started getting VERY noisy about “investing in real estate” … reminds me of when they started getting VERY noisy about investing in tech stocks in 00. Dodged that bullet too.

    Even though I wasn’t picky, any 1000sf box that didn’t need serious repairs would do, there was NOTHING acceptable under 500k. The payments would have been approx 3x my rent! A friend of mine sent me the link to piggingtons and I’ve been infuriating the parents and in-laws ever since.

    February 25, 2008 at 1:07 PM #159645
    ibjames
    Participant

    Moved here in January 2006 from Milwaukee, WI. Newly married and happy to be in warm weather. My wife and I have waited a while to move till we were married. We were now in nice jobs and anxious to buy.

    We saw just madness with crazy expensive houses and everyone touting interest only loans as the new norm. Foolishly, we followed the lemmings to the cliff, waiting for our turn to jump off.

    We put in a bid for a 2 bed 1.5 bath condo in Linda Vista/Clairemont area for 370 (they were asking over 400) they countered with 4, etc. it got to the point where we were at 380 and they were at 390. We finally, uncomfortably countered to 385. They would not go lower than 390. I saw that they were still making over 100k, and would not go lower. We pulled out of the deal, I was so sick of the greed.

    I then stood back and looked at what I had almost done, the amount of money and risk we were gambling with. That was when I started doing my research and found this site. I was then able to show my wife statistics, and she too got on board with waiting. I’ve been here ever since. The last time I checked places in the same complex were going over 30k less. That would be hard to swallow

    February 25, 2008 at 1:07 PM #159938
    ibjames
    Participant

    Moved here in January 2006 from Milwaukee, WI. Newly married and happy to be in warm weather. My wife and I have waited a while to move till we were married. We were now in nice jobs and anxious to buy.

    We saw just madness with crazy expensive houses and everyone touting interest only loans as the new norm. Foolishly, we followed the lemmings to the cliff, waiting for our turn to jump off.

    We put in a bid for a 2 bed 1.5 bath condo in Linda Vista/Clairemont area for 370 (they were asking over 400) they countered with 4, etc. it got to the point where we were at 380 and they were at 390. We finally, uncomfortably countered to 385. They would not go lower than 390. I saw that they were still making over 100k, and would not go lower. We pulled out of the deal, I was so sick of the greed.

    I then stood back and looked at what I had almost done, the amount of money and risk we were gambling with. That was when I started doing my research and found this site. I was then able to show my wife statistics, and she too got on board with waiting. I’ve been here ever since. The last time I checked places in the same complex were going over 30k less. That would be hard to swallow

    February 25, 2008 at 1:07 PM #159951
    ibjames
    Participant

    Moved here in January 2006 from Milwaukee, WI. Newly married and happy to be in warm weather. My wife and I have waited a while to move till we were married. We were now in nice jobs and anxious to buy.

    We saw just madness with crazy expensive houses and everyone touting interest only loans as the new norm. Foolishly, we followed the lemmings to the cliff, waiting for our turn to jump off.

    We put in a bid for a 2 bed 1.5 bath condo in Linda Vista/Clairemont area for 370 (they were asking over 400) they countered with 4, etc. it got to the point where we were at 380 and they were at 390. We finally, uncomfortably countered to 385. They would not go lower than 390. I saw that they were still making over 100k, and would not go lower. We pulled out of the deal, I was so sick of the greed.

    I then stood back and looked at what I had almost done, the amount of money and risk we were gambling with. That was when I started doing my research and found this site. I was then able to show my wife statistics, and she too got on board with waiting. I’ve been here ever since. The last time I checked places in the same complex were going over 30k less. That would be hard to swallow

    February 25, 2008 at 1:07 PM #159959
    ibjames
    Participant

    Moved here in January 2006 from Milwaukee, WI. Newly married and happy to be in warm weather. My wife and I have waited a while to move till we were married. We were now in nice jobs and anxious to buy.

    We saw just madness with crazy expensive houses and everyone touting interest only loans as the new norm. Foolishly, we followed the lemmings to the cliff, waiting for our turn to jump off.

    We put in a bid for a 2 bed 1.5 bath condo in Linda Vista/Clairemont area for 370 (they were asking over 400) they countered with 4, etc. it got to the point where we were at 380 and they were at 390. We finally, uncomfortably countered to 385. They would not go lower than 390. I saw that they were still making over 100k, and would not go lower. We pulled out of the deal, I was so sick of the greed.

    I then stood back and looked at what I had almost done, the amount of money and risk we were gambling with. That was when I started doing my research and found this site. I was then able to show my wife statistics, and she too got on board with waiting. I’ve been here ever since. The last time I checked places in the same complex were going over 30k less. That would be hard to swallow

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