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CAwireman.
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August 18, 2008 at 3:09 PM #258779August 18, 2008 at 3:14 PM #258492
(former)FormerSanDiegan
Participant[quote=kewp]Again (and I promise, for the last time), that person could if they so desired list that house for below current comps, sell it quick and walk away with a pile of money.
How many of these folks you think it will take to lower the comps to ’01 levels everywhere? Not many at the rate things are currently going.
[/quote]Whether they sell or not is irrelevant. Folks who bought in 2001 (or even 2002 for that matter) or before with decent mortgage terms and no equity extraction can easily rent their property out for positive cash flow (at least in the central SD areas I follow). These folks could eventually own their property, primarily at the expense of renters.
August 18, 2008 at 3:14 PM #258681Participant[quote=kewp]Again (and I promise, for the last time), that person could if they so desired list that house for below current comps, sell it quick and walk away with a pile of money.
How many of these folks you think it will take to lower the comps to ’01 levels everywhere? Not many at the rate things are currently going.
[/quote]Whether they sell or not is irrelevant. Folks who bought in 2001 (or even 2002 for that matter) or before with decent mortgage terms and no equity extraction can easily rent their property out for positive cash flow (at least in the central SD areas I follow). These folks could eventually own their property, primarily at the expense of renters.
August 18, 2008 at 3:14 PM #258693Participant[quote=kewp]Again (and I promise, for the last time), that person could if they so desired list that house for below current comps, sell it quick and walk away with a pile of money.
How many of these folks you think it will take to lower the comps to ’01 levels everywhere? Not many at the rate things are currently going.
[/quote]Whether they sell or not is irrelevant. Folks who bought in 2001 (or even 2002 for that matter) or before with decent mortgage terms and no equity extraction can easily rent their property out for positive cash flow (at least in the central SD areas I follow). These folks could eventually own their property, primarily at the expense of renters.
August 18, 2008 at 3:14 PM #258742Participant[quote=kewp]Again (and I promise, for the last time), that person could if they so desired list that house for below current comps, sell it quick and walk away with a pile of money.
How many of these folks you think it will take to lower the comps to ’01 levels everywhere? Not many at the rate things are currently going.
[/quote]Whether they sell or not is irrelevant. Folks who bought in 2001 (or even 2002 for that matter) or before with decent mortgage terms and no equity extraction can easily rent their property out for positive cash flow (at least in the central SD areas I follow). These folks could eventually own their property, primarily at the expense of renters.
August 18, 2008 at 3:14 PM #258784Participant[quote=kewp]Again (and I promise, for the last time), that person could if they so desired list that house for below current comps, sell it quick and walk away with a pile of money.
How many of these folks you think it will take to lower the comps to ’01 levels everywhere? Not many at the rate things are currently going.
[/quote]Whether they sell or not is irrelevant. Folks who bought in 2001 (or even 2002 for that matter) or before with decent mortgage terms and no equity extraction can easily rent their property out for positive cash flow (at least in the central SD areas I follow). These folks could eventually own their property, primarily at the expense of renters.
August 18, 2008 at 3:26 PM #258507ParticipantFWIW, I sold our first house in Clairemont (nicer part … Mount Streets) at 2001 prices.
It sold for under $280K in 2001.At current rental rates, I’m guessing the current owner is ahead by about $500 per month vs renting.
August 18, 2008 at 3:26 PM #258695ParticipantFWIW, I sold our first house in Clairemont (nicer part … Mount Streets) at 2001 prices.
It sold for under $280K in 2001.At current rental rates, I’m guessing the current owner is ahead by about $500 per month vs renting.
August 18, 2008 at 3:26 PM #258708ParticipantFWIW, I sold our first house in Clairemont (nicer part … Mount Streets) at 2001 prices.
It sold for under $280K in 2001.At current rental rates, I’m guessing the current owner is ahead by about $500 per month vs renting.
August 18, 2008 at 3:26 PM #258757ParticipantFWIW, I sold our first house in Clairemont (nicer part … Mount Streets) at 2001 prices.
It sold for under $280K in 2001.At current rental rates, I’m guessing the current owner is ahead by about $500 per month vs renting.
August 18, 2008 at 3:26 PM #258799ParticipantFWIW, I sold our first house in Clairemont (nicer part … Mount Streets) at 2001 prices.
It sold for under $280K in 2001.At current rental rates, I’m guessing the current owner is ahead by about $500 per month vs renting.
August 18, 2008 at 3:39 PM #258522kewp
ParticipantWhether they sell or not is irrelevant. Folks who bought in 2001 (or even 2002 for that matter) or before with decent mortgage terms and no equity extraction can easily rent their property out for positive cash flow (at least in the central SD areas I follow).
For the moment.
When all those empty houses are back on the market post-capitulation it will drive rents down along with everything else. Landlords will be competing as much with cheap houses as each other (and high unemployment).
August 18, 2008 at 3:39 PM #258710ParticipantWhether they sell or not is irrelevant. Folks who bought in 2001 (or even 2002 for that matter) or before with decent mortgage terms and no equity extraction can easily rent their property out for positive cash flow (at least in the central SD areas I follow).
For the moment.
When all those empty houses are back on the market post-capitulation it will drive rents down along with everything else. Landlords will be competing as much with cheap houses as each other (and high unemployment).
August 18, 2008 at 3:39 PM #258723ParticipantWhether they sell or not is irrelevant. Folks who bought in 2001 (or even 2002 for that matter) or before with decent mortgage terms and no equity extraction can easily rent their property out for positive cash flow (at least in the central SD areas I follow).
For the moment.
When all those empty houses are back on the market post-capitulation it will drive rents down along with everything else. Landlords will be competing as much with cheap houses as each other (and high unemployment).
August 18, 2008 at 3:39 PM #258772ParticipantWhether they sell or not is irrelevant. Folks who bought in 2001 (or even 2002 for that matter) or before with decent mortgage terms and no equity extraction can easily rent their property out for positive cash flow (at least in the central SD areas I follow).
For the moment.
When all those empty houses are back on the market post-capitulation it will drive rents down along with everything else. Landlords will be competing as much with cheap houses as each other (and high unemployment).
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