- This topic has 41 replies, 29 voices, and was last updated 17 years, 4 months ago by
NotCranky.
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September 17, 2007 at 4:00 PM #10323September 17, 2007 at 4:13 PM #84863
HLS
ParticipantThe real bottom of the market isn’t hours, days, weeks or months away. It is YEARS.
The people that are “tired of waiting” just do not understand market cycles, which will be part of the problem of getting to a true bottom. They will be too anxious, afraid of missing out.
Because $500K is less than $600K, some people think it’s a bargain and buy in. IF they were patient, it might have gotten to $300K.
Dot com stocks didn’t fall overnight $300 became $260 then $225 some eventually became $1 or less. Pity those that buy that close to the top.
It’s all supply and demand OR fear and greed.
Those are the forces that defy explanation.A very high % of SD county has equity and a decent mortgage.
Prices go up or down, most people aren’t selling or moving.The supply will be limited to what it will be.
If homes drop 50%, many people will still not be moving and will still have equity in their homes.Those that are tired of waiting don’t have an entitlement to buy a house at what they can afford. What is it exactly that they are waiting for ???
September 17, 2007 at 4:38 PM #84870bsrsharma
ParticipantGood prices in TX for anyone considering leaving.
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Comment by Bye FL
2007-09-17 15:30:49
I am getting sick and tired of people whining about Texas being unaffordable. 90% of Texas is cheap! Please avoid that 10% with wishing prices, let those FB’s and speculators rot! I am going to show you a few houses below that anyone can afford. If they are not “good” enough for you, you have no business being in Texas, go relocate to NW Pennsylvania, prices are even *cheaper* there. Rent is generally *not* a good deal in Texas because there’s plenty of houses that cost *less* than rent. 90% of Texas did *not* see much of a bubble!Nice big house in perfect condition in good, established neighborhood in Dallas for $85k.
Large 3 bedroom house in established neighboorhood for $130k.
$129,900
5 Bed, 3 Bath
2,680 Sq. Ft.
Huge house at under $50/foot!Very nice house for $158k(you can get one like that for a few thousand cheaper, actually)
I hope this clears up any misconception about Texas being unaffordable. Texas is *not* like California or south Florida where almost nothing is affordable! People are running away from those locating and running to Texas where they can get a very nice house to live in at sane prices. I am tempted to relocate to Texas but big city life isn’t for me and NW Pennsylvania costs half as much. Texas would be a great bet for my parents, wish they had sold in south FL, they will lose their equity and south FL will become cheap enough that they might not want to bother selling if they don’t sell soon. Prices here will fall big time.
————————————————————September 17, 2007 at 5:00 PM #84876Wickedheart
ParticipantSpend a couple of weeks in Texas and you’ll understand why it’s so “cheap” there.
September 17, 2007 at 5:22 PM #84879RunningBear
Participantlol. Feel free to stay in California. We love being in Texas after leaving CA in March. Lots to recommend, cost of living is high among them.
September 17, 2007 at 5:22 PM #84880ParticipantIt is not like San Diego; but buying a nice house with a year’s salary and living debt free seems very interesting concept. 24 million people live there. Can’t be that bad!
September 17, 2007 at 6:22 PM #84890ParticipantWhatever. A nice house in hell is no bargain at all.
September 17, 2007 at 6:39 PM #84891eyePod
ParticipantTexans are some of the most gregarious people on earth. And the state has an incredible history.
September 17, 2007 at 6:46 PM #84893mixxalot
ParticipantWhats so bad about Texas?
I was in Dallas in May and was fine place to me. People are way friendlier than in San Diego. Much cheaper to live and good food. We spend most time indoors unless you are filthy rich and can be at the beach allday or live in Rancho Santa Fe. Or are a pro surfer.
September 17, 2007 at 6:48 PM #84894patientrenter
ParticipantWickedheart, Texas is a very big state. Why do you think none of it is a desirable place to live? I visited Austin in June and yes, it was very hot, but it was also very nice in many other ways. I am sure there is some variety there. After all, the people who live there don’t all come out of a TV parody.
Patient renter in OC
September 17, 2007 at 7:24 PM #84897Navydoc
ParticipantMy favorite quote about Texas was from the Civil War General Philip Sheridan who said: ” If I owned both Hell and Texas I’d rent out Texas and live in Hell!”
I actually don’t have anything against Texas, but since there’s no big Navy hospital there, I won’t be moving there anytime soon. I just thought that quote was funny considering some of the posts in this thread..
September 17, 2007 at 7:36 PM #84899CarlsbadMtnBiker
ParticipantLet em’ go .. it will help traffic stay reasonable.
September 17, 2007 at 9:25 PM #84908CricketOnTheHearth
Participant“Do you guys know of anyone like this?”
Yes, me.
Those Texas prices…. sigh.
I might be persuaded to move to Austin. If I didn’t have the friends I have here in SD I would have already moved out of state 4 or 5 years ago.
>chirp<
September 17, 2007 at 9:40 PM #84913kw3393
ParticipantI moved out of San Diego this summer after living there for 3yrs. 110k household income. No debt. We liked San Diego but didn’t “love” it.
Recently bought a home for 210k in Kansas City. 4BR, 2.5Bath, 2600sqft with back/front yards. Mortgage payment is $1070/mo. We paid $1400/mo for an apartment in Carlsbad. Now that we have a different perspective on San Diego (looking back), we are very happy with the decision.
September 17, 2007 at 10:46 PM #84917golfproz
ParticipantWhere I work we’ve lost about 10% of our engineers to less expensive states. I work at a small defense contractor and we cannot find qualified engineers. They are gone, moved away. All that seems to be left are new grads or rejects. 2 of our best left last year. One went to OK and the other went to TX. I also had a self employed friend move to KS. The price of real estate/cost of living is the main reason people are moving. You can spout off about the weather all you want, but when people making 150k a year cannot afford a decent house or can’t afford to take vacations there is a problem. At this rate CA will be nothing but illegals and low income tourist type jobs soon. It will be hard to justify those 800k homes on a Sea World salary.
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