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CA renter.
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April 30, 2009 at 3:26 PM #391156April 30, 2009 at 3:27 PM #390496
jpinpb
ParticipantMy neighbor at the time was research scientist. Maybe it wasn’t the hotbed it is now, but enough for the homes that were there in the ’90’s.
April 30, 2009 at 3:27 PM #390759ParticipantMy neighbor at the time was research scientist. Maybe it wasn’t the hotbed it is now, but enough for the homes that were there in the ’90’s.
April 30, 2009 at 3:27 PM #390967ParticipantMy neighbor at the time was research scientist. Maybe it wasn’t the hotbed it is now, but enough for the homes that were there in the ’90’s.
April 30, 2009 at 3:27 PM #391018ParticipantMy neighbor at the time was research scientist. Maybe it wasn’t the hotbed it is now, but enough for the homes that were there in the ’90’s.
April 30, 2009 at 3:27 PM #391161ParticipantMy neighbor at the time was research scientist. Maybe it wasn’t the hotbed it is now, but enough for the homes that were there in the ’90’s.
April 30, 2009 at 3:35 PM #390506Bob
Participant[quote=Russell]”Is there a point when a sustained slow trickle price decline plus a slow uptick in interest rates plus eventual inflation will be a wash compared to slightly “overpaying” up front[/quote]
People are assuming that mortgage rates will remain at low levels and then go up at a slow pace. Thats an assumption based on hope, but not necessarily on reality. The fact is, the bond market could very well be the next bubble to burst. The Federal Reserve is spending trillions in an effort to keep mortgage rates artificially low. Thats why you currently see 4.5% interest rates. But the Feds cannot continue this practice indefinately, as it will lead to hyperinflation. As it is, inflation is coming anyway, and mortgage rates will spike. The question is, how high will rates go ? And how will higher rates affect home prices in San Diego, particulary in neighborhoods which have yet to hit bottom ?
The unintended consequences of the feds actions to spend its way out of the current recession will eventually lead us right back into another recession. The only difference is that the first recession is deflationary in nature, where as the second will be inflationary in nature.
April 30, 2009 at 3:35 PM #390769Participant[quote=Russell]”Is there a point when a sustained slow trickle price decline plus a slow uptick in interest rates plus eventual inflation will be a wash compared to slightly “overpaying” up front[/quote]
People are assuming that mortgage rates will remain at low levels and then go up at a slow pace. Thats an assumption based on hope, but not necessarily on reality. The fact is, the bond market could very well be the next bubble to burst. The Federal Reserve is spending trillions in an effort to keep mortgage rates artificially low. Thats why you currently see 4.5% interest rates. But the Feds cannot continue this practice indefinately, as it will lead to hyperinflation. As it is, inflation is coming anyway, and mortgage rates will spike. The question is, how high will rates go ? And how will higher rates affect home prices in San Diego, particulary in neighborhoods which have yet to hit bottom ?
The unintended consequences of the feds actions to spend its way out of the current recession will eventually lead us right back into another recession. The only difference is that the first recession is deflationary in nature, where as the second will be inflationary in nature.
April 30, 2009 at 3:35 PM #390977Participant[quote=Russell]”Is there a point when a sustained slow trickle price decline plus a slow uptick in interest rates plus eventual inflation will be a wash compared to slightly “overpaying” up front[/quote]
People are assuming that mortgage rates will remain at low levels and then go up at a slow pace. Thats an assumption based on hope, but not necessarily on reality. The fact is, the bond market could very well be the next bubble to burst. The Federal Reserve is spending trillions in an effort to keep mortgage rates artificially low. Thats why you currently see 4.5% interest rates. But the Feds cannot continue this practice indefinately, as it will lead to hyperinflation. As it is, inflation is coming anyway, and mortgage rates will spike. The question is, how high will rates go ? And how will higher rates affect home prices in San Diego, particulary in neighborhoods which have yet to hit bottom ?
The unintended consequences of the feds actions to spend its way out of the current recession will eventually lead us right back into another recession. The only difference is that the first recession is deflationary in nature, where as the second will be inflationary in nature.
April 30, 2009 at 3:35 PM #391028Participant[quote=Russell]”Is there a point when a sustained slow trickle price decline plus a slow uptick in interest rates plus eventual inflation will be a wash compared to slightly “overpaying” up front[/quote]
People are assuming that mortgage rates will remain at low levels and then go up at a slow pace. Thats an assumption based on hope, but not necessarily on reality. The fact is, the bond market could very well be the next bubble to burst. The Federal Reserve is spending trillions in an effort to keep mortgage rates artificially low. Thats why you currently see 4.5% interest rates. But the Feds cannot continue this practice indefinately, as it will lead to hyperinflation. As it is, inflation is coming anyway, and mortgage rates will spike. The question is, how high will rates go ? And how will higher rates affect home prices in San Diego, particulary in neighborhoods which have yet to hit bottom ?
The unintended consequences of the feds actions to spend its way out of the current recession will eventually lead us right back into another recession. The only difference is that the first recession is deflationary in nature, where as the second will be inflationary in nature.
April 30, 2009 at 3:35 PM #391171Participant[quote=Russell]”Is there a point when a sustained slow trickle price decline plus a slow uptick in interest rates plus eventual inflation will be a wash compared to slightly “overpaying” up front[/quote]
People are assuming that mortgage rates will remain at low levels and then go up at a slow pace. Thats an assumption based on hope, but not necessarily on reality. The fact is, the bond market could very well be the next bubble to burst. The Federal Reserve is spending trillions in an effort to keep mortgage rates artificially low. Thats why you currently see 4.5% interest rates. But the Feds cannot continue this practice indefinately, as it will lead to hyperinflation. As it is, inflation is coming anyway, and mortgage rates will spike. The question is, how high will rates go ? And how will higher rates affect home prices in San Diego, particulary in neighborhoods which have yet to hit bottom ?
The unintended consequences of the feds actions to spend its way out of the current recession will eventually lead us right back into another recession. The only difference is that the first recession is deflationary in nature, where as the second will be inflationary in nature.
April 30, 2009 at 4:57 PM #390576CA renter
Participant[quote=flu][quote=CA renter]I totally understand what jp is talking about.
Yes, you can pull purchases forward by opening the mortgage market to people who wouldn’t have been able to buy until later in their lives, hisorically-speaking.
I bought in early 1998, and was not competing with other buyers. San Diego was not “unknown” back then. “The rich” have known about San Diego for a long time. La Jolla, Del Mar, Carlsbad (esp. La Costa area), RSF, etc. have been known to the BIG money crowd for many decades.[/quote]
I don’t doubt the rich have known about those areas of exclusivity… I’m more referring to main stream upper middle class (folks that still depend on a W2)….When did the techie/lawyer/biotechie dudes first start cropping up here? Wouldn’t you agree there was definitely an influx of these people starting around 97 onward? Aren’t these upper middle income folks the same people that would happen to be buying in places like CV, Carlsbad?
(These aren’t exactly the folks looking in LJ or RSF or DM I would think)…[/quote]
As someone who was born and raised in L.A., my perspective may well be skewed toward a So Cal bias. I’ve always known people to visit/move to SD, and have never thought of it as an “off the beaten path” sort of city.
Naturally, this doesn’t necessarily apply to what people in Nebraska or Texas think though.
April 30, 2009 at 4:57 PM #390839Participant[quote=flu][quote=CA renter]I totally understand what jp is talking about.
Yes, you can pull purchases forward by opening the mortgage market to people who wouldn’t have been able to buy until later in their lives, hisorically-speaking.
I bought in early 1998, and was not competing with other buyers. San Diego was not “unknown” back then. “The rich” have known about San Diego for a long time. La Jolla, Del Mar, Carlsbad (esp. La Costa area), RSF, etc. have been known to the BIG money crowd for many decades.[/quote]
I don’t doubt the rich have known about those areas of exclusivity… I’m more referring to main stream upper middle class (folks that still depend on a W2)….When did the techie/lawyer/biotechie dudes first start cropping up here? Wouldn’t you agree there was definitely an influx of these people starting around 97 onward? Aren’t these upper middle income folks the same people that would happen to be buying in places like CV, Carlsbad?
(These aren’t exactly the folks looking in LJ or RSF or DM I would think)…[/quote]
As someone who was born and raised in L.A., my perspective may well be skewed toward a So Cal bias. I’ve always known people to visit/move to SD, and have never thought of it as an “off the beaten path” sort of city.
Naturally, this doesn’t necessarily apply to what people in Nebraska or Texas think though.
April 30, 2009 at 4:57 PM #391047Participant[quote=flu][quote=CA renter]I totally understand what jp is talking about.
Yes, you can pull purchases forward by opening the mortgage market to people who wouldn’t have been able to buy until later in their lives, hisorically-speaking.
I bought in early 1998, and was not competing with other buyers. San Diego was not “unknown” back then. “The rich” have known about San Diego for a long time. La Jolla, Del Mar, Carlsbad (esp. La Costa area), RSF, etc. have been known to the BIG money crowd for many decades.[/quote]
I don’t doubt the rich have known about those areas of exclusivity… I’m more referring to main stream upper middle class (folks that still depend on a W2)….When did the techie/lawyer/biotechie dudes first start cropping up here? Wouldn’t you agree there was definitely an influx of these people starting around 97 onward? Aren’t these upper middle income folks the same people that would happen to be buying in places like CV, Carlsbad?
(These aren’t exactly the folks looking in LJ or RSF or DM I would think)…[/quote]
As someone who was born and raised in L.A., my perspective may well be skewed toward a So Cal bias. I’ve always known people to visit/move to SD, and have never thought of it as an “off the beaten path” sort of city.
Naturally, this doesn’t necessarily apply to what people in Nebraska or Texas think though.
April 30, 2009 at 4:57 PM #391098Participant[quote=flu][quote=CA renter]I totally understand what jp is talking about.
Yes, you can pull purchases forward by opening the mortgage market to people who wouldn’t have been able to buy until later in their lives, hisorically-speaking.
I bought in early 1998, and was not competing with other buyers. San Diego was not “unknown” back then. “The rich” have known about San Diego for a long time. La Jolla, Del Mar, Carlsbad (esp. La Costa area), RSF, etc. have been known to the BIG money crowd for many decades.[/quote]
I don’t doubt the rich have known about those areas of exclusivity… I’m more referring to main stream upper middle class (folks that still depend on a W2)….When did the techie/lawyer/biotechie dudes first start cropping up here? Wouldn’t you agree there was definitely an influx of these people starting around 97 onward? Aren’t these upper middle income folks the same people that would happen to be buying in places like CV, Carlsbad?
(These aren’t exactly the folks looking in LJ or RSF or DM I would think)…[/quote]
As someone who was born and raised in L.A., my perspective may well be skewed toward a So Cal bias. I’ve always known people to visit/move to SD, and have never thought of it as an “off the beaten path” sort of city.
Naturally, this doesn’t necessarily apply to what people in Nebraska or Texas think though.
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