Is this correct time to buy or Still to wait?

[5yearwaiter]

Hello fellow Pigginton advisers,

Can you advise or suggest what are issues still ahead in this housing crunch? . If anyone start to buy or looking to buy homes now, what’s your choice would be?
You can simply express like – 1)Yes we can buy from now onwards. 2)No, still a bit fall is ahead in home prices of San Diego.

I am seeing and believing now the time to buy and Obama’s recovery steps are going to be at least OK or nothing leading to any downturn at least

[peterb]

30% of mortgages in SD county are upside down. Unemployment is rising, still. Commercial RE is starting crack in a big way. Give yourself some more time if you can. This is a recipe for pure disaster.

[peterb]

30% of mortgages in SD county are upside down. Unemployment is rising, still. Commercial RE is starting crack in a big way. Give yourself some more time if you can. This is a recipe for pure disaster.

[peterb]

30% of mortgages in SD county are upside down. Unemployment is rising, still. Commercial RE is starting crack in a big way. Give yourself some more time if you can. This is a recipe for pure disaster.

[peterb]

30% of mortgages in SD county are upside down. Unemployment is rising, still. Commercial RE is starting crack in a big way. Give yourself some more time if you can. This is a recipe for pure disaster.

[peterb]

30% of mortgages in SD county are upside down. Unemployment is rising, still. Commercial RE is starting crack in a big way. Give yourself some more time if you can. This is a recipe for pure disaster.

[Ren]

Depends on location – different areas rise and fall at different times than others.

I would guess that Murrieta is at or near its bottom, Temecula is close behind, followed by Escondido and east county in fall/winter of 2010, 4S, Scripps Ranch and San Elijo Hills in 2011, and the coast in 2012.

Disclaimer: Those are purely my semi-educated guesses and may be wildly inaccurate.

[Ren]

Depends on location – different areas rise and fall at different times than others.

I would guess that Murrieta is at or near its bottom, Temecula is close behind, followed by Escondido and east county in fall/winter of 2010, 4S, Scripps Ranch and San Elijo Hills in 2011, and the coast in 2012.

Disclaimer: Those are purely my semi-educated guesses and may be wildly inaccurate.

[Ren]

Depends on location – different areas rise and fall at different times than others.

I would guess that Murrieta is at or near its bottom, Temecula is close behind, followed by Escondido and east county in fall/winter of 2010, 4S, Scripps Ranch and San Elijo Hills in 2011, and the coast in 2012.

Disclaimer: Those are purely my semi-educated guesses and may be wildly inaccurate.

[Ren]

Depends on location – different areas rise and fall at different times than others.

I would guess that Murrieta is at or near its bottom, Temecula is close behind, followed by Escondido and east county in fall/winter of 2010, 4S, Scripps Ranch and San Elijo Hills in 2011, and the coast in 2012.

Disclaimer: Those are purely my semi-educated guesses and may be wildly inaccurate.

[Ren]

Depends on location – different areas rise and fall at different times than others.

I would guess that Murrieta is at or near its bottom, Temecula is close behind, followed by Escondido and east county in fall/winter of 2010, 4S, Scripps Ranch and San Elijo Hills in 2011, and the coast in 2012.

Disclaimer: Those are purely my semi-educated guesses and may be wildly inaccurate.

[SDEngineer]

[quote=peterb]30% of mortgages in SD county are upside down. Unemployment is rising, still. Commercial RE is starting crack in a big way. Give yourself some more time if you can. This is a recipe for pure disaster.[/quote]

Bear in mind though that housing is a leading indicator in economic downturns – in past economic downturns, housing has turned positive before the economy hit rock bottom. Both commercial investment and unemployment lag recoveries by a significant amount (both still trend worse well after housing has recovered, and after the economy has rebounded).

Of course, this is likely to be the worst downturn since the Great Depression (though I believe in total effect it still currently trails the double-dip recession of the early 80’s, however, this downturn isn’t finished yet).

Of course, I’m biased, since I’ve decided that it is a reasonable time to buy, and am currently under contract for a new townhome in the east county. There’s no chance I would buy at the coast or in the higher end areas at this time though – the higher end and coastal areas are historically the last to adjust. Maybe next year if I was looking at 4S Ranch.

[SDEngineer]

[quote=peterb]30% of mortgages in SD county are upside down. Unemployment is rising, still. Commercial RE is starting crack in a big way. Give yourself some more time if you can. This is a recipe for pure disaster.[/quote]

Bear in mind though that housing is a leading indicator in economic downturns – in past economic downturns, housing has turned positive before the economy hit rock bottom. Both commercial investment and unemployment lag recoveries by a significant amount (both still trend worse well after housing has recovered, and after the economy has rebounded).

Of course, this is likely to be the worst downturn since the Great Depression (though I believe in total effect it still currently trails the double-dip recession of the early 80’s, however, this downturn isn’t finished yet).

Of course, I’m biased, since I’ve decided that it is a reasonable time to buy, and am currently under contract for a new townhome in the east county. There’s no chance I would buy at the coast or in the higher end areas at this time though – the higher end and coastal areas are historically the last to adjust. Maybe next year if I was looking at 4S Ranch.

[SDEngineer]

[quote=peterb]30% of mortgages in SD county are upside down. Unemployment is rising, still. Commercial RE is starting crack in a big way. Give yourself some more time if you can. This is a recipe for pure disaster.[/quote]

Bear in mind though that housing is a leading indicator in economic downturns – in past economic downturns, housing has turned positive before the economy hit rock bottom. Both commercial investment and unemployment lag recoveries by a significant amount (both still trend worse well after housing has recovered, and after the economy has rebounded).

Of course, this is likely to be the worst downturn since the Great Depression (though I believe in total effect it still currently trails the double-dip recession of the early 80’s, however, this downturn isn’t finished yet).

Of course, I’m biased, since I’ve decided that it is a reasonable time to buy, and am currently under contract for a new townhome in the east county. There’s no chance I would buy at the coast or in the higher end areas at this time though – the higher end and coastal areas are historically the last to adjust. Maybe next year if I was looking at 4S Ranch.

[SDEngineer]

[quote=peterb]30% of mortgages in SD county are upside down. Unemployment is rising, still. Commercial RE is starting crack in a big way. Give yourself some more time if you can. This is a recipe for pure disaster.[/quote]

Bear in mind though that housing is a leading indicator in economic downturns – in past economic downturns, housing has turned positive before the economy hit rock bottom. Both commercial investment and unemployment lag recoveries by a significant amount (both still trend worse well after housing has recovered, and after the economy has rebounded).

Of course, this is likely to be the worst downturn since the Great Depression (though I believe in total effect it still currently trails the double-dip recession of the early 80’s, however, this downturn isn’t finished yet).

Of course, I’m biased, since I’ve decided that it is a reasonable time to buy, and am currently under contract for a new townhome in the east county. There’s no chance I would buy at the coast or in the higher end areas at this time though – the higher end and coastal areas are historically the last to adjust. Maybe next year if I was looking at 4S Ranch.

[Author]

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