Lucera Condo – $199k

[Ex-SD]

Oh yes….the old, “it could never happen to me” syndrome.
sdnerd: Older people tend to be more pessimistic because they’ve had their ass handed to them (or know many people who have) when they least expect it. Don’t be too smug about your convictions at this point. Things are going to get pretty nasty and chances are, your company is working off of investor money that could dry up and leave you and bunch of other people standing on the corner saying, what happened? I’m not saying it’s going to happen….I’ve just seen it too many times to people I know who wound up spending every dime they had until they could get back on their feet in order to survive after being blind-sided out the blue when their company folded and their industry shrunk and their $200k income went to zero.
If you truly believe that SD housing isn’t going to drop a great deal more, then by all means, go out and buy a home tomorrow……..but don’t come back here moaning and groaning when it drops a whole lot more after you buy (like some have already done who were warned and have now come back saying, “I should have listened”). You don’t have to believe that we’re already in a recession that’s going to get a whole lot worse and affect a whole lot of people and the economies of a lot of cities and states. And besides…………It’s your money and if you can waste it anyway you want.

[Ex-SD]

Oh yes….the old, “it could never happen to me” syndrome.
sdnerd: Older people tend to be more pessimistic because they’ve had their ass handed to them (or know many people who have) when they least expect it. Don’t be too smug about your convictions at this point. Things are going to get pretty nasty and chances are, your company is working off of investor money that could dry up and leave you and bunch of other people standing on the corner saying, what happened? I’m not saying it’s going to happen….I’ve just seen it too many times to people I know who wound up spending every dime they had until they could get back on their feet in order to survive after being blind-sided out the blue when their company folded and their industry shrunk and their $200k income went to zero.
If you truly believe that SD housing isn’t going to drop a great deal more, then by all means, go out and buy a home tomorrow……..but don’t come back here moaning and groaning when it drops a whole lot more after you buy (like some have already done who were warned and have now come back saying, “I should have listened”). You don’t have to believe that we’re already in a recession that’s going to get a whole lot worse and affect a whole lot of people and the economies of a lot of cities and states. And besides…………It’s your money and if you can waste it anyway you want.

[sdnerd]

Trolling a thread and throwing insults is a great way to debate a subject. Congratulations on that.

If you bothered to actually read the discussion, you might have something useful to say.

I *DO* believe SD pricing is going to fall a lot more. Nowhere have I said it’s not going to, or that it couldn’t happen to me – not once.

Based on what I’m seeing in the local economy, and in the job sector of where I work, as of right now I am not too concerned. Of course that could change. All signs right now do point to things getting real bad this year – how bad, nobody knows. This could be short, it could be long. Nobody here has the answer.

The only thing I have said is I believe the lower end has taken a large percentage of the hits it’s going to take. And I believe it’s now going to start working it’s way up into the more expensive neighborhoods.

Dual income of 150k is 2 mid level employees. Give me a break on the e-balling comment. I’m simply stating that there is a large # of younger employees out there making decent salaries, having families, and who want homes. If I hit a touchy subject for your family, it was not intentional. It’s a data point to base further discussion.

If you think that’s not the case, and you think nobody is ever going to want to buy again, and that everyone is going to poor out of San Diego – that’s fine, but please state your argument for that position.

[sdnerd]

Trolling a thread and throwing insults is a great way to debate a subject. Congratulations on that.

If you bothered to actually read the discussion, you might have something useful to say.

I *DO* believe SD pricing is going to fall a lot more. Nowhere have I said it’s not going to, or that it couldn’t happen to me – not once.

Based on what I’m seeing in the local economy, and in the job sector of where I work, as of right now I am not too concerned. Of course that could change. All signs right now do point to things getting real bad this year – how bad, nobody knows. This could be short, it could be long. Nobody here has the answer.

The only thing I have said is I believe the lower end has taken a large percentage of the hits it’s going to take. And I believe it’s now going to start working it’s way up into the more expensive neighborhoods.

Dual income of 150k is 2 mid level employees. Give me a break on the e-balling comment. I’m simply stating that there is a large # of younger employees out there making decent salaries, having families, and who want homes. If I hit a touchy subject for your family, it was not intentional. It’s a data point to base further discussion.

If you think that’s not the case, and you think nobody is ever going to want to buy again, and that everyone is going to poor out of San Diego – that’s fine, but please state your argument for that position.

[sdnerd]

Trolling a thread and throwing insults is a great way to debate a subject. Congratulations on that.

If you bothered to actually read the discussion, you might have something useful to say.

I *DO* believe SD pricing is going to fall a lot more. Nowhere have I said it’s not going to, or that it couldn’t happen to me – not once.

Based on what I’m seeing in the local economy, and in the job sector of where I work, as of right now I am not too concerned. Of course that could change. All signs right now do point to things getting real bad this year – how bad, nobody knows. This could be short, it could be long. Nobody here has the answer.

The only thing I have said is I believe the lower end has taken a large percentage of the hits it’s going to take. And I believe it’s now going to start working it’s way up into the more expensive neighborhoods.

Dual income of 150k is 2 mid level employees. Give me a break on the e-balling comment. I’m simply stating that there is a large # of younger employees out there making decent salaries, having families, and who want homes. If I hit a touchy subject for your family, it was not intentional. It’s a data point to base further discussion.

If you think that’s not the case, and you think nobody is ever going to want to buy again, and that everyone is going to poor out of San Diego – that’s fine, but please state your argument for that position.

[sdnerd]

Trolling a thread and throwing insults is a great way to debate a subject. Congratulations on that.

If you bothered to actually read the discussion, you might have something useful to say.

I *DO* believe SD pricing is going to fall a lot more. Nowhere have I said it’s not going to, or that it couldn’t happen to me – not once.

Based on what I’m seeing in the local economy, and in the job sector of where I work, as of right now I am not too concerned. Of course that could change. All signs right now do point to things getting real bad this year – how bad, nobody knows. This could be short, it could be long. Nobody here has the answer.

The only thing I have said is I believe the lower end has taken a large percentage of the hits it’s going to take. And I believe it’s now going to start working it’s way up into the more expensive neighborhoods.

Dual income of 150k is 2 mid level employees. Give me a break on the e-balling comment. I’m simply stating that there is a large # of younger employees out there making decent salaries, having families, and who want homes. If I hit a touchy subject for your family, it was not intentional. It’s a data point to base further discussion.

If you think that’s not the case, and you think nobody is ever going to want to buy again, and that everyone is going to poor out of San Diego – that’s fine, but please state your argument for that position.

[sdnerd]

Trolling a thread and throwing insults is a great way to debate a subject. Congratulations on that.

If you bothered to actually read the discussion, you might have something useful to say.

I *DO* believe SD pricing is going to fall a lot more. Nowhere have I said it’s not going to, or that it couldn’t happen to me – not once.

Based on what I’m seeing in the local economy, and in the job sector of where I work, as of right now I am not too concerned. Of course that could change. All signs right now do point to things getting real bad this year – how bad, nobody knows. This could be short, it could be long. Nobody here has the answer.

The only thing I have said is I believe the lower end has taken a large percentage of the hits it’s going to take. And I believe it’s now going to start working it’s way up into the more expensive neighborhoods.

Dual income of 150k is 2 mid level employees. Give me a break on the e-balling comment. I’m simply stating that there is a large # of younger employees out there making decent salaries, having families, and who want homes. If I hit a touchy subject for your family, it was not intentional. It’s a data point to base further discussion.

If you think that’s not the case, and you think nobody is ever going to want to buy again, and that everyone is going to poor out of San Diego – that’s fine, but please state your argument for that position.

[Ex-SD]

Trolling a thread? Throwing insults?
You ARE young (and thin skinned). The reality is that only around 3% of the population of SD can afford to buy a home there. Who’s going to buy all these homes? Incomes aren’t going to rise that much for Joe Six-pack any time soon for him/her to afford a home and now that people have to actually qualify to buy a home again, coupled with the growing inventory problem of REO’s and present / upcoming foreclosures………….Houston, we have a problem.
All of this has already started spilling over into other business’. I read the other day where Lowe’s and Home Depot are really suffering in their SoCal locations as well as Nevada and Arizona. It’s called “trickle down” and it’s also coming to a neighborhood near you. And yes…..more people have been pouring out of San Diego than coming in for the last 3 plus years. Rents will eventually start to fall and keep pace with falling house prices which are going to fall for another three to five years.
And the last I read, the state of CA already has projected a $16 billion dollar budget shorfall (and I’ll bet that number gets a whole lot larger). So, be ready for more (& more) taxes, fees, etc to fleece the corporations and individual taxpayers which will drive more business’ & residents out of CA. (I sold my two properties and left in 2005 after living there for over 30 years and I know more people who did the same thing).
My point to you was: Just because things are rosy today is no guarantee that they’re going to stay that way in San Diego. There’s too many present and upcoming economic problems for individuals and corporations to be complacent & comfortable at this time. The good news is that home prices are going to fall a lot further and if you have the resources, you will be able to buy a lot cheaper just by waiting.

[Ex-SD]

Trolling a thread? Throwing insults?
You ARE young (and thin skinned). The reality is that only around 3% of the population of SD can afford to buy a home there. Who’s going to buy all these homes? Incomes aren’t going to rise that much for Joe Six-pack any time soon for him/her to afford a home and now that people have to actually qualify to buy a home again, coupled with the growing inventory problem of REO’s and present / upcoming foreclosures………….Houston, we have a problem.
All of this has already started spilling over into other business’. I read the other day where Lowe’s and Home Depot are really suffering in their SoCal locations as well as Nevada and Arizona. It’s called “trickle down” and it’s also coming to a neighborhood near you. And yes…..more people have been pouring out of San Diego than coming in for the last 3 plus years. Rents will eventually start to fall and keep pace with falling house prices which are going to fall for another three to five years.
And the last I read, the state of CA already has projected a $16 billion dollar budget shorfall (and I’ll bet that number gets a whole lot larger). So, be ready for more (& more) taxes, fees, etc to fleece the corporations and individual taxpayers which will drive more business’ & residents out of CA. (I sold my two properties and left in 2005 after living there for over 30 years and I know more people who did the same thing).
My point to you was: Just because things are rosy today is no guarantee that they’re going to stay that way in San Diego. There’s too many present and upcoming economic problems for individuals and corporations to be complacent & comfortable at this time. The good news is that home prices are going to fall a lot further and if you have the resources, you will be able to buy a lot cheaper just by waiting.

[Ex-SD]

Trolling a thread? Throwing insults?
You ARE young (and thin skinned). The reality is that only around 3% of the population of SD can afford to buy a home there. Who’s going to buy all these homes? Incomes aren’t going to rise that much for Joe Six-pack any time soon for him/her to afford a home and now that people have to actually qualify to buy a home again, coupled with the growing inventory problem of REO’s and present / upcoming foreclosures………….Houston, we have a problem.
All of this has already started spilling over into other business’. I read the other day where Lowe’s and Home Depot are really suffering in their SoCal locations as well as Nevada and Arizona. It’s called “trickle down” and it’s also coming to a neighborhood near you. And yes…..more people have been pouring out of San Diego than coming in for the last 3 plus years. Rents will eventually start to fall and keep pace with falling house prices which are going to fall for another three to five years.
And the last I read, the state of CA already has projected a $16 billion dollar budget shorfall (and I’ll bet that number gets a whole lot larger). So, be ready for more (& more) taxes, fees, etc to fleece the corporations and individual taxpayers which will drive more business’ & residents out of CA. (I sold my two properties and left in 2005 after living there for over 30 years and I know more people who did the same thing).
My point to you was: Just because things are rosy today is no guarantee that they’re going to stay that way in San Diego. There’s too many present and upcoming economic problems for individuals and corporations to be complacent & comfortable at this time. The good news is that home prices are going to fall a lot further and if you have the resources, you will be able to buy a lot cheaper just by waiting.

[Ex-SD]

Trolling a thread? Throwing insults?
You ARE young (and thin skinned). The reality is that only around 3% of the population of SD can afford to buy a home there. Who’s going to buy all these homes? Incomes aren’t going to rise that much for Joe Six-pack any time soon for him/her to afford a home and now that people have to actually qualify to buy a home again, coupled with the growing inventory problem of REO’s and present / upcoming foreclosures………….Houston, we have a problem.
All of this has already started spilling over into other business’. I read the other day where Lowe’s and Home Depot are really suffering in their SoCal locations as well as Nevada and Arizona. It’s called “trickle down” and it’s also coming to a neighborhood near you. And yes…..more people have been pouring out of San Diego than coming in for the last 3 plus years. Rents will eventually start to fall and keep pace with falling house prices which are going to fall for another three to five years.
And the last I read, the state of CA already has projected a $16 billion dollar budget shorfall (and I’ll bet that number gets a whole lot larger). So, be ready for more (& more) taxes, fees, etc to fleece the corporations and individual taxpayers which will drive more business’ & residents out of CA. (I sold my two properties and left in 2005 after living there for over 30 years and I know more people who did the same thing).
My point to you was: Just because things are rosy today is no guarantee that they’re going to stay that way in San Diego. There’s too many present and upcoming economic problems for individuals and corporations to be complacent & comfortable at this time. The good news is that home prices are going to fall a lot further and if you have the resources, you will be able to buy a lot cheaper just by waiting.

[Ex-SD]

Trolling a thread? Throwing insults?
You ARE young (and thin skinned). The reality is that only around 3% of the population of SD can afford to buy a home there. Who’s going to buy all these homes? Incomes aren’t going to rise that much for Joe Six-pack any time soon for him/her to afford a home and now that people have to actually qualify to buy a home again, coupled with the growing inventory problem of REO’s and present / upcoming foreclosures………….Houston, we have a problem.
All of this has already started spilling over into other business’. I read the other day where Lowe’s and Home Depot are really suffering in their SoCal locations as well as Nevada and Arizona. It’s called “trickle down” and it’s also coming to a neighborhood near you. And yes…..more people have been pouring out of San Diego than coming in for the last 3 plus years. Rents will eventually start to fall and keep pace with falling house prices which are going to fall for another three to five years.
And the last I read, the state of CA already has projected a $16 billion dollar budget shorfall (and I’ll bet that number gets a whole lot larger). So, be ready for more (& more) taxes, fees, etc to fleece the corporations and individual taxpayers which will drive more business’ & residents out of CA. (I sold my two properties and left in 2005 after living there for over 30 years and I know more people who did the same thing).
My point to you was: Just because things are rosy today is no guarantee that they’re going to stay that way in San Diego. There’s too many present and upcoming economic problems for individuals and corporations to be complacent & comfortable at this time. The good news is that home prices are going to fall a lot further and if you have the resources, you will be able to buy a lot cheaper just by waiting.

[TheBreeze]

The point I was trying to make is that you should be careful extrapolating based off the circumstances of people you know. It’s not likely to be representative. There’s a lot of inventory out there and I’m sure you and your circle of friends could talk yourselves into buying because all you see around you is prosperity and people hungry to buy. That may not be the case for the majority of twenty- and thirty-somethings.

As for Lucera, that may seem like a good deal, but keep in mind that La Jolla Crossroads is still building. A recent ad on craigslist showed they were offering 860 square-foot 1-bedrooms for between $1350 and $1500. Given all that though, there’s no doubt that someone buying now will be much better off then someone who bought 2 years ago.

I also agree with you that it’s important not to get caught up in the groupthink that can happen on a Web site like this one. Just as its important not to get caught up with the bubble-frenzy crowd, its also important not to become overwhelmed with fear lest you miss opportunities. For example, I’m still making periodic contributions to mutual funds through my 401(k). The market may continue to go down for the next couple of years, but since retirement for me is at least 15 years away, I believe I’ll be in a good situation years from now because I continued to invest in the stock market during the down times.

[TheBreeze]

The point I was trying to make is that you should be careful extrapolating based off the circumstances of people you know. It’s not likely to be representative. There’s a lot of inventory out there and I’m sure you and your circle of friends could talk yourselves into buying because all you see around you is prosperity and people hungry to buy. That may not be the case for the majority of twenty- and thirty-somethings.

As for Lucera, that may seem like a good deal, but keep in mind that La Jolla Crossroads is still building. A recent ad on craigslist showed they were offering 860 square-foot 1-bedrooms for between $1350 and $1500. Given all that though, there’s no doubt that someone buying now will be much better off then someone who bought 2 years ago.

I also agree with you that it’s important not to get caught up in the groupthink that can happen on a Web site like this one. Just as its important not to get caught up with the bubble-frenzy crowd, its also important not to become overwhelmed with fear lest you miss opportunities. For example, I’m still making periodic contributions to mutual funds through my 401(k). The market may continue to go down for the next couple of years, but since retirement for me is at least 15 years away, I believe I’ll be in a good situation years from now because I continued to invest in the stock market during the down times.

[TheBreeze]

The point I was trying to make is that you should be careful extrapolating based off the circumstances of people you know. It’s not likely to be representative. There’s a lot of inventory out there and I’m sure you and your circle of friends could talk yourselves into buying because all you see around you is prosperity and people hungry to buy. That may not be the case for the majority of twenty- and thirty-somethings.

As for Lucera, that may seem like a good deal, but keep in mind that La Jolla Crossroads is still building. A recent ad on craigslist showed they were offering 860 square-foot 1-bedrooms for between $1350 and $1500. Given all that though, there’s no doubt that someone buying now will be much better off then someone who bought 2 years ago.

I also agree with you that it’s important not to get caught up in the groupthink that can happen on a Web site like this one. Just as its important not to get caught up with the bubble-frenzy crowd, its also important not to become overwhelmed with fear lest you miss opportunities. For example, I’m still making periodic contributions to mutual funds through my 401(k). The market may continue to go down for the next couple of years, but since retirement for me is at least 15 years away, I believe I’ll be in a good situation years from now because I continued to invest in the stock market during the down times.

[Author]

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