OT: Don’t pay your mortgage, go to Disneyland

[NotCranky]

[quote=CA renter][quote=Allan from Fallbrook]

What is telling is the attitude most people now have and that is largely that the banks and Wall Street have gotten away with what amounts to outright theft, so who cares if they do? Its an “all bets are off” sort of mentality.[/quote]

Yes, this is what I’ve been seeing, too. Who can blame them?[/quote]

I’ve heard a different version; “The banks and Wall Street got a bailout, so where’s mine”.

[briansd1]

[quote=Russell]
I have to admit, I am pretty interested in how the “recycling” takes place with some of the holdouts.[/quote]

Some peak buyers will deny having made a purchasing mistake until the end. They will give up moving up because of their own pride.

Some peak buyers will see their neighbors get the benefit of foreclosure and loan modifications and they’ll join the party.

Some peak buyers will join the party too late and they’ll only get the left-overs, or nothing.

Some peaks buyers will have to sell for organic reasons (job loss, divorce, illness, etc…). They will get dragged to the party willing or not.

I’m betting that 20 years from the peak, you’ll see few houses purchased at the bubble peak that are still owned by the peak buyers. Proportional to other periods, the turnover of peak properties will be much higher, in my estimation.

That would be a great research study for a real estate/economics graduate student. He can pour over all the county data and write his paper. Some students will get PhDs writing about the “recycling” process.

[briansd1]

[quote=Russell]
I have to admit, I am pretty interested in how the “recycling” takes place with some of the holdouts.[/quote]

Some peak buyers will deny having made a purchasing mistake until the end. They will give up moving up because of their own pride.

Some peak buyers will see their neighbors get the benefit of foreclosure and loan modifications and they’ll join the party.

Some peak buyers will join the party too late and they’ll only get the left-overs, or nothing.

Some peaks buyers will have to sell for organic reasons (job loss, divorce, illness, etc…). They will get dragged to the party willing or not.

I’m betting that 20 years from the peak, you’ll see few houses purchased at the bubble peak that are still owned by the peak buyers. Proportional to other periods, the turnover of peak properties will be much higher, in my estimation.

That would be a great research study for a real estate/economics graduate student. He can pour over all the county data and write his paper. Some students will get PhDs writing about the “recycling” process.

[briansd1]

[quote=Russell]
I have to admit, I am pretty interested in how the “recycling” takes place with some of the holdouts.[/quote]

Some peak buyers will deny having made a purchasing mistake until the end. They will give up moving up because of their own pride.

Some peak buyers will see their neighbors get the benefit of foreclosure and loan modifications and they’ll join the party.

Some peak buyers will join the party too late and they’ll only get the left-overs, or nothing.

Some peaks buyers will have to sell for organic reasons (job loss, divorce, illness, etc…). They will get dragged to the party willing or not.

I’m betting that 20 years from the peak, you’ll see few houses purchased at the bubble peak that are still owned by the peak buyers. Proportional to other periods, the turnover of peak properties will be much higher, in my estimation.

That would be a great research study for a real estate/economics graduate student. He can pour over all the county data and write his paper. Some students will get PhDs writing about the “recycling” process.

[briansd1]

[quote=Russell]
I have to admit, I am pretty interested in how the “recycling” takes place with some of the holdouts.[/quote]

Some peak buyers will deny having made a purchasing mistake until the end. They will give up moving up because of their own pride.

Some peak buyers will see their neighbors get the benefit of foreclosure and loan modifications and they’ll join the party.

Some peak buyers will join the party too late and they’ll only get the left-overs, or nothing.

Some peaks buyers will have to sell for organic reasons (job loss, divorce, illness, etc…). They will get dragged to the party willing or not.

I’m betting that 20 years from the peak, you’ll see few houses purchased at the bubble peak that are still owned by the peak buyers. Proportional to other periods, the turnover of peak properties will be much higher, in my estimation.

That would be a great research study for a real estate/economics graduate student. He can pour over all the county data and write his paper. Some students will get PhDs writing about the “recycling” process.

[briansd1]

[quote=Russell]
I have to admit, I am pretty interested in how the “recycling” takes place with some of the holdouts.[/quote]

Some peak buyers will deny having made a purchasing mistake until the end. They will give up moving up because of their own pride.

Some peak buyers will see their neighbors get the benefit of foreclosure and loan modifications and they’ll join the party.

Some peak buyers will join the party too late and they’ll only get the left-overs, or nothing.

Some peaks buyers will have to sell for organic reasons (job loss, divorce, illness, etc…). They will get dragged to the party willing or not.

I’m betting that 20 years from the peak, you’ll see few houses purchased at the bubble peak that are still owned by the peak buyers. Proportional to other periods, the turnover of peak properties will be much higher, in my estimation.

That would be a great research study for a real estate/economics graduate student. He can pour over all the county data and write his paper. Some students will get PhDs writing about the “recycling” process.

[briansd1]

I have a theory of peak buyers having diminishing wherewithal or diminishing desire/inclination to hang-on.

Remember that in economics, the ability to pay is only part of demand, the desire and willingness to pay makes all the difference.

Even in the high-end discretionary real estate purchases, I see people giving up.

Here’s an example at Harbor Club, Downtown. I think this is only a matter of time before the bank takes it back. I see that everyday.
http://www.sdlookup.com/Property-5BF7B53C-200_Harbor_Dr_1101_San_Diego_CA_92101#86993

Time will tell…

[briansd1]

I have a theory of peak buyers having diminishing wherewithal or diminishing desire/inclination to hang-on.

Remember that in economics, the ability to pay is only part of demand, the desire and willingness to pay makes all the difference.

Even in the high-end discretionary real estate purchases, I see people giving up.

Here’s an example at Harbor Club, Downtown. I think this is only a matter of time before the bank takes it back. I see that everyday.
http://www.sdlookup.com/Property-5BF7B53C-200_Harbor_Dr_1101_San_Diego_CA_92101#86993

Time will tell…

[briansd1]

I have a theory of peak buyers having diminishing wherewithal or diminishing desire/inclination to hang-on.

Remember that in economics, the ability to pay is only part of demand, the desire and willingness to pay makes all the difference.

Even in the high-end discretionary real estate purchases, I see people giving up.

Here’s an example at Harbor Club, Downtown. I think this is only a matter of time before the bank takes it back. I see that everyday.
http://www.sdlookup.com/Property-5BF7B53C-200_Harbor_Dr_1101_San_Diego_CA_92101#86993

Time will tell…

[briansd1]

I have a theory of peak buyers having diminishing wherewithal or diminishing desire/inclination to hang-on.

Remember that in economics, the ability to pay is only part of demand, the desire and willingness to pay makes all the difference.

Even in the high-end discretionary real estate purchases, I see people giving up.

Here’s an example at Harbor Club, Downtown. I think this is only a matter of time before the bank takes it back. I see that everyday.
http://www.sdlookup.com/Property-5BF7B53C-200_Harbor_Dr_1101_San_Diego_CA_92101#86993

Time will tell…

[briansd1]

I have a theory of peak buyers having diminishing wherewithal or diminishing desire/inclination to hang-on.

Remember that in economics, the ability to pay is only part of demand, the desire and willingness to pay makes all the difference.

Even in the high-end discretionary real estate purchases, I see people giving up.

Here’s an example at Harbor Club, Downtown. I think this is only a matter of time before the bank takes it back. I see that everyday.
http://www.sdlookup.com/Property-5BF7B53C-200_Harbor_Dr_1101_San_Diego_CA_92101#86993

Time will tell…

[CBad]

I think my husband would rather pay someone else’s mortgage than go to Disneyland.

[CBad]

I think my husband would rather pay someone else’s mortgage than go to Disneyland.

[CBad]

I think my husband would rather pay someone else’s mortgage than go to Disneyland.

[CBad]

I think my husband would rather pay someone else’s mortgage than go to Disneyland.

[Author]

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