- This topic has 185 replies, 19 voices, and was last updated 15 years, 2 months ago by
Nor-LA-SD-guy.
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February 28, 2009 at 10:43 AM #357776February 28, 2009 at 11:20 AM #357231
peterb
ParticipantI will say one thing, I follow Craigslist as a gauge for asking prices and number of available units. I have noticed a marked increase in rooms for rent within homes, “studios attached to homes” and a general lowering of rents all over CA. There’s a definite increase in density of people/unit of rental housing going on. Hence the lowering of rents as well. I think this is way more than a seasonal adjustment.
February 28, 2009 at 11:20 AM #357534ParticipantI will say one thing, I follow Craigslist as a gauge for asking prices and number of available units. I have noticed a marked increase in rooms for rent within homes, “studios attached to homes” and a general lowering of rents all over CA. There’s a definite increase in density of people/unit of rental housing going on. Hence the lowering of rents as well. I think this is way more than a seasonal adjustment.
February 28, 2009 at 11:20 AM #357673ParticipantI will say one thing, I follow Craigslist as a gauge for asking prices and number of available units. I have noticed a marked increase in rooms for rent within homes, “studios attached to homes” and a general lowering of rents all over CA. There’s a definite increase in density of people/unit of rental housing going on. Hence the lowering of rents as well. I think this is way more than a seasonal adjustment.
February 28, 2009 at 11:20 AM #357704ParticipantI will say one thing, I follow Craigslist as a gauge for asking prices and number of available units. I have noticed a marked increase in rooms for rent within homes, “studios attached to homes” and a general lowering of rents all over CA. There’s a definite increase in density of people/unit of rental housing going on. Hence the lowering of rents as well. I think this is way more than a seasonal adjustment.
February 28, 2009 at 11:20 AM #357812ParticipantI will say one thing, I follow Craigslist as a gauge for asking prices and number of available units. I have noticed a marked increase in rooms for rent within homes, “studios attached to homes” and a general lowering of rents all over CA. There’s a definite increase in density of people/unit of rental housing going on. Hence the lowering of rents as well. I think this is way more than a seasonal adjustment.
February 28, 2009 at 11:26 AM #357237Mark Holmes
Participant[quote=Nor-LA-SD-guy][quote=kewp]Isn’t there also a huge glut of inventory in Temecula due to over-building?[/quote]
From What I have been seeing all the decent ones get snapped up as soon as they hit the MLS as REO (have offers over list) (were talking hours here as well).
the old homes hang out awhile as it’s not something most are looking for to buy (to rent maybe) but not to buy.
Also I just heard Earlier this week Temecula is still one of the fastest growing area’s in SoCal (not much over building going on right now)
My two cents, (grab the bargains while they last) oh and I think I used to hear the same things in 1990 , you know Japan going to rule the world, U.S.A. to become Mexico. world to end in 2000 the list goes on.
Oh I think Gold was 1000/oz in the eighties as well before it dropped down to around 300/oz .
[/quote]
In my humble opinion, this is definitely not 1990. More like 1929. Or God help us, 1873.
This is the very beginning of a global synchronous downturn which much of the global media is already calling a depression.
All bets are off, guys and girls. I would counsel holding onto cash at least through the fall, and keep an eye on your banks stock price and balance sheet.
IMHO.
February 28, 2009 at 11:26 AM #357539Participant[quote=Nor-LA-SD-guy][quote=kewp]Isn’t there also a huge glut of inventory in Temecula due to over-building?[/quote]
From What I have been seeing all the decent ones get snapped up as soon as they hit the MLS as REO (have offers over list) (were talking hours here as well).
the old homes hang out awhile as it’s not something most are looking for to buy (to rent maybe) but not to buy.
Also I just heard Earlier this week Temecula is still one of the fastest growing area’s in SoCal (not much over building going on right now)
My two cents, (grab the bargains while they last) oh and I think I used to hear the same things in 1990 , you know Japan going to rule the world, U.S.A. to become Mexico. world to end in 2000 the list goes on.
Oh I think Gold was 1000/oz in the eighties as well before it dropped down to around 300/oz .
[/quote]
In my humble opinion, this is definitely not 1990. More like 1929. Or God help us, 1873.
This is the very beginning of a global synchronous downturn which much of the global media is already calling a depression.
All bets are off, guys and girls. I would counsel holding onto cash at least through the fall, and keep an eye on your banks stock price and balance sheet.
IMHO.
February 28, 2009 at 11:26 AM #357678Participant[quote=Nor-LA-SD-guy][quote=kewp]Isn’t there also a huge glut of inventory in Temecula due to over-building?[/quote]
From What I have been seeing all the decent ones get snapped up as soon as they hit the MLS as REO (have offers over list) (were talking hours here as well).
the old homes hang out awhile as it’s not something most are looking for to buy (to rent maybe) but not to buy.
Also I just heard Earlier this week Temecula is still one of the fastest growing area’s in SoCal (not much over building going on right now)
My two cents, (grab the bargains while they last) oh and I think I used to hear the same things in 1990 , you know Japan going to rule the world, U.S.A. to become Mexico. world to end in 2000 the list goes on.
Oh I think Gold was 1000/oz in the eighties as well before it dropped down to around 300/oz .
[/quote]
In my humble opinion, this is definitely not 1990. More like 1929. Or God help us, 1873.
This is the very beginning of a global synchronous downturn which much of the global media is already calling a depression.
All bets are off, guys and girls. I would counsel holding onto cash at least through the fall, and keep an eye on your banks stock price and balance sheet.
IMHO.
February 28, 2009 at 11:26 AM #357709Participant[quote=Nor-LA-SD-guy][quote=kewp]Isn’t there also a huge glut of inventory in Temecula due to over-building?[/quote]
From What I have been seeing all the decent ones get snapped up as soon as they hit the MLS as REO (have offers over list) (were talking hours here as well).
the old homes hang out awhile as it’s not something most are looking for to buy (to rent maybe) but not to buy.
Also I just heard Earlier this week Temecula is still one of the fastest growing area’s in SoCal (not much over building going on right now)
My two cents, (grab the bargains while they last) oh and I think I used to hear the same things in 1990 , you know Japan going to rule the world, U.S.A. to become Mexico. world to end in 2000 the list goes on.
Oh I think Gold was 1000/oz in the eighties as well before it dropped down to around 300/oz .
[/quote]
In my humble opinion, this is definitely not 1990. More like 1929. Or God help us, 1873.
This is the very beginning of a global synchronous downturn which much of the global media is already calling a depression.
All bets are off, guys and girls. I would counsel holding onto cash at least through the fall, and keep an eye on your banks stock price and balance sheet.
IMHO.
February 28, 2009 at 11:26 AM #357816Participant[quote=Nor-LA-SD-guy][quote=kewp]Isn’t there also a huge glut of inventory in Temecula due to over-building?[/quote]
From What I have been seeing all the decent ones get snapped up as soon as they hit the MLS as REO (have offers over list) (were talking hours here as well).
the old homes hang out awhile as it’s not something most are looking for to buy (to rent maybe) but not to buy.
Also I just heard Earlier this week Temecula is still one of the fastest growing area’s in SoCal (not much over building going on right now)
My two cents, (grab the bargains while they last) oh and I think I used to hear the same things in 1990 , you know Japan going to rule the world, U.S.A. to become Mexico. world to end in 2000 the list goes on.
Oh I think Gold was 1000/oz in the eighties as well before it dropped down to around 300/oz .
[/quote]
In my humble opinion, this is definitely not 1990. More like 1929. Or God help us, 1873.
This is the very beginning of a global synchronous downturn which much of the global media is already calling a depression.
All bets are off, guys and girls. I would counsel holding onto cash at least through the fall, and keep an eye on your banks stock price and balance sheet.
IMHO.
February 28, 2009 at 11:27 AM #357242Participant[quote=paramount]A little on these so-called investors: Around 1930-1931 many were urged to buy or invest in houses at “historically” low prices, and many did.
By 1932/1933 many of those buyers were on the streets and in soup lines…
[/quote]
My point, exactly, Paramount.
February 28, 2009 at 11:27 AM #357544Participant[quote=paramount]A little on these so-called investors: Around 1930-1931 many were urged to buy or invest in houses at “historically” low prices, and many did.
By 1932/1933 many of those buyers were on the streets and in soup lines…
[/quote]
My point, exactly, Paramount.
February 28, 2009 at 11:27 AM #357683Participant[quote=paramount]A little on these so-called investors: Around 1930-1931 many were urged to buy or invest in houses at “historically” low prices, and many did.
By 1932/1933 many of those buyers were on the streets and in soup lines…
[/quote]
My point, exactly, Paramount.
February 28, 2009 at 11:27 AM #357714Participant[quote=paramount]A little on these so-called investors: Around 1930-1931 many were urged to buy or invest in houses at “historically” low prices, and many did.
By 1932/1933 many of those buyers were on the streets and in soup lines…
[/quote]
My point, exactly, Paramount.
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