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December 31, 2007 at 8:22 PM #11375December 31, 2007 at 8:59 PM #127096
golfproz
ParticipantTo get back to historical “norms” prices will need to drop to 2001 levels. I think the speed and depth of the drops we are already seeing in the IE would indicate that this might be worse than even the most bearish of us have imagined. I am already finding homes 50% off peak in some areas of the IE. 40% off peak (approx 2003 prices) is so easy to find that it’s not even news any more. I’ve already found nice homes selling for $80s/f some areas. It was only a few months ago that $100 s/f was making news. Now you can find hundreds of homes selling for around that. This snowball has just started rolling!
December 31, 2007 at 8:59 PM #127359golfproz
ParticipantTo get back to historical “norms” prices will need to drop to 2001 levels. I think the speed and depth of the drops we are already seeing in the IE would indicate that this might be worse than even the most bearish of us have imagined. I am already finding homes 50% off peak in some areas of the IE. 40% off peak (approx 2003 prices) is so easy to find that it’s not even news any more. I’ve already found nice homes selling for $80s/f some areas. It was only a few months ago that $100 s/f was making news. Now you can find hundreds of homes selling for around that. This snowball has just started rolling!
December 31, 2007 at 8:59 PM #127335golfproz
ParticipantTo get back to historical “norms” prices will need to drop to 2001 levels. I think the speed and depth of the drops we are already seeing in the IE would indicate that this might be worse than even the most bearish of us have imagined. I am already finding homes 50% off peak in some areas of the IE. 40% off peak (approx 2003 prices) is so easy to find that it’s not even news any more. I’ve already found nice homes selling for $80s/f some areas. It was only a few months ago that $100 s/f was making news. Now you can find hundreds of homes selling for around that. This snowball has just started rolling!
December 31, 2007 at 8:59 PM #127258golfproz
ParticipantTo get back to historical “norms” prices will need to drop to 2001 levels. I think the speed and depth of the drops we are already seeing in the IE would indicate that this might be worse than even the most bearish of us have imagined. I am already finding homes 50% off peak in some areas of the IE. 40% off peak (approx 2003 prices) is so easy to find that it’s not even news any more. I’ve already found nice homes selling for $80s/f some areas. It was only a few months ago that $100 s/f was making news. Now you can find hundreds of homes selling for around that. This snowball has just started rolling!
December 31, 2007 at 8:59 PM #127266golfproz
ParticipantTo get back to historical “norms” prices will need to drop to 2001 levels. I think the speed and depth of the drops we are already seeing in the IE would indicate that this might be worse than even the most bearish of us have imagined. I am already finding homes 50% off peak in some areas of the IE. 40% off peak (approx 2003 prices) is so easy to find that it’s not even news any more. I’ve already found nice homes selling for $80s/f some areas. It was only a few months ago that $100 s/f was making news. Now you can find hundreds of homes selling for around that. This snowball has just started rolling!
December 31, 2007 at 9:36 PM #127340paramount
ParticipantI think I understand your position, but can one time the market perfectly?
What’s it worth to reduce your commute? It’s only money, but time is something you can’t get back.
As I have said before, for the average person I would not sit around and waste my life trying to time the market like so many others on this forum.
If the reduction in commute is considerable, and you can afford the new house on conservative/realistic terms and it’s priced right, why not?
In 10 years it won’t really matter that much anyway.
December 31, 2007 at 9:36 PM #127364paramount
ParticipantI think I understand your position, but can one time the market perfectly?
What’s it worth to reduce your commute? It’s only money, but time is something you can’t get back.
As I have said before, for the average person I would not sit around and waste my life trying to time the market like so many others on this forum.
If the reduction in commute is considerable, and you can afford the new house on conservative/realistic terms and it’s priced right, why not?
In 10 years it won’t really matter that much anyway.
December 31, 2007 at 9:36 PM #127272paramount
ParticipantI think I understand your position, but can one time the market perfectly?
What’s it worth to reduce your commute? It’s only money, but time is something you can’t get back.
As I have said before, for the average person I would not sit around and waste my life trying to time the market like so many others on this forum.
If the reduction in commute is considerable, and you can afford the new house on conservative/realistic terms and it’s priced right, why not?
In 10 years it won’t really matter that much anyway.
December 31, 2007 at 9:36 PM #127263paramount
ParticipantI think I understand your position, but can one time the market perfectly?
What’s it worth to reduce your commute? It’s only money, but time is something you can’t get back.
As I have said before, for the average person I would not sit around and waste my life trying to time the market like so many others on this forum.
If the reduction in commute is considerable, and you can afford the new house on conservative/realistic terms and it’s priced right, why not?
In 10 years it won’t really matter that much anyway.
December 31, 2007 at 9:36 PM #127103paramount
ParticipantI think I understand your position, but can one time the market perfectly?
What’s it worth to reduce your commute? It’s only money, but time is something you can’t get back.
As I have said before, for the average person I would not sit around and waste my life trying to time the market like so many others on this forum.
If the reduction in commute is considerable, and you can afford the new house on conservative/realistic terms and it’s priced right, why not?
In 10 years it won’t really matter that much anyway.
January 1, 2008 at 8:16 AM #127296sethdallob
ParticipantWell, if it does go back to 2001 prices (roughly $125k), and I had reasonable knowledge of such fact, I’d be an idiot to waste $75k. I’m not trying to time the exact bottom here, but there is a big difference between $315k, $210k and $125k.
January 1, 2008 at 8:16 AM #127308sethdallob
ParticipantWell, if it does go back to 2001 prices (roughly $125k), and I had reasonable knowledge of such fact, I’d be an idiot to waste $75k. I’m not trying to time the exact bottom here, but there is a big difference between $315k, $210k and $125k.
January 1, 2008 at 8:16 AM #127399sethdallob
ParticipantWell, if it does go back to 2001 prices (roughly $125k), and I had reasonable knowledge of such fact, I’d be an idiot to waste $75k. I’m not trying to time the exact bottom here, but there is a big difference between $315k, $210k and $125k.
January 1, 2008 at 8:16 AM #127375sethdallob
ParticipantWell, if it does go back to 2001 prices (roughly $125k), and I had reasonable knowledge of such fact, I’d be an idiot to waste $75k. I’m not trying to time the exact bottom here, but there is a big difference between $315k, $210k and $125k.
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