Home › Forums › Housing › San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May)
- This topic has 335 replies, 20 voices, and was last updated 14 years, 10 months ago by
capeman.
-
AuthorPosts
-
July 2, 2009 at 4:03 PM #425033July 2, 2009 at 4:48 PM #424301
capeman
Participant[quote=sdrealtor]I have a term for them also and it is what I call “home owners”. Imagine that?[/quote]
Yes and those who held shares in AIG, Bear Stearns, WM, WB, FNM, FRE and GM were once called shareholders. Unless you can say we’re out of the clear on further deflation, increased unemployment, no bond market dislocation or further financial credit collapse (Right!) then even with 20% down those people are likely to end up underwater or worse without even neutral cash flow and underwater. All of the above are commonly considered knife catchers.
July 2, 2009 at 4:48 PM #424534Participant[quote=sdrealtor]I have a term for them also and it is what I call “home owners”. Imagine that?[/quote]
Yes and those who held shares in AIG, Bear Stearns, WM, WB, FNM, FRE and GM were once called shareholders. Unless you can say we’re out of the clear on further deflation, increased unemployment, no bond market dislocation or further financial credit collapse (Right!) then even with 20% down those people are likely to end up underwater or worse without even neutral cash flow and underwater. All of the above are commonly considered knife catchers.
July 2, 2009 at 4:48 PM #424815Participant[quote=sdrealtor]I have a term for them also and it is what I call “home owners”. Imagine that?[/quote]
Yes and those who held shares in AIG, Bear Stearns, WM, WB, FNM, FRE and GM were once called shareholders. Unless you can say we’re out of the clear on further deflation, increased unemployment, no bond market dislocation or further financial credit collapse (Right!) then even with 20% down those people are likely to end up underwater or worse without even neutral cash flow and underwater. All of the above are commonly considered knife catchers.
July 2, 2009 at 4:48 PM #424884Participant[quote=sdrealtor]I have a term for them also and it is what I call “home owners”. Imagine that?[/quote]
Yes and those who held shares in AIG, Bear Stearns, WM, WB, FNM, FRE and GM were once called shareholders. Unless you can say we’re out of the clear on further deflation, increased unemployment, no bond market dislocation or further financial credit collapse (Right!) then even with 20% down those people are likely to end up underwater or worse without even neutral cash flow and underwater. All of the above are commonly considered knife catchers.
July 2, 2009 at 4:48 PM #425048Participant[quote=sdrealtor]I have a term for them also and it is what I call “home owners”. Imagine that?[/quote]
Yes and those who held shares in AIG, Bear Stearns, WM, WB, FNM, FRE and GM were once called shareholders. Unless you can say we’re out of the clear on further deflation, increased unemployment, no bond market dislocation or further financial credit collapse (Right!) then even with 20% down those people are likely to end up underwater or worse without even neutral cash flow and underwater. All of the above are commonly considered knife catchers.
July 2, 2009 at 5:36 PM #424321sobmaz
ParticipantI am with you.
Check this out….MLS #: 090033059
It is listed for a bargain basement price of 525k and is currently rented for…..2485 a month.
With 3.5% down and 5.5% 30 year payment for principal and interest is 2980 a month.
2980 principal and interest
565 HOA fee monthly
500 tax per month aprox
150 per month insurance and interior maintenance.TOTAL 4195 PER MONTH!!
And, this is based upon the Fed manipulating 30 year rates way below what it would be otherwise.
The question is, for what reason would anyone buy this? The only answer is the bubble mentality. The belief burnt into everyone younger than 45 that real estate goes up 10% plus per year on average. For what other reason would someone lock themselves into a situation where their monthly payments will be 50% higher all for the privilege of being unable to move when you want.
Yep, I know about the “tax advantage” of owning. But I also know that the tax advantage use to actually make owning CHEAPER than renting. Anyone else remember that? That was one of the big incentives of owning because housing never rose more than the inflation rate.
Massive declines to come or massive inflation to come, which one it is only the FED knows.
July 2, 2009 at 5:36 PM #424554ParticipantI am with you.
Check this out….MLS #: 090033059
It is listed for a bargain basement price of 525k and is currently rented for…..2485 a month.
With 3.5% down and 5.5% 30 year payment for principal and interest is 2980 a month.
2980 principal and interest
565 HOA fee monthly
500 tax per month aprox
150 per month insurance and interior maintenance.TOTAL 4195 PER MONTH!!
And, this is based upon the Fed manipulating 30 year rates way below what it would be otherwise.
The question is, for what reason would anyone buy this? The only answer is the bubble mentality. The belief burnt into everyone younger than 45 that real estate goes up 10% plus per year on average. For what other reason would someone lock themselves into a situation where their monthly payments will be 50% higher all for the privilege of being unable to move when you want.
Yep, I know about the “tax advantage” of owning. But I also know that the tax advantage use to actually make owning CHEAPER than renting. Anyone else remember that? That was one of the big incentives of owning because housing never rose more than the inflation rate.
Massive declines to come or massive inflation to come, which one it is only the FED knows.
July 2, 2009 at 5:36 PM #424835ParticipantI am with you.
Check this out….MLS #: 090033059
It is listed for a bargain basement price of 525k and is currently rented for…..2485 a month.
With 3.5% down and 5.5% 30 year payment for principal and interest is 2980 a month.
2980 principal and interest
565 HOA fee monthly
500 tax per month aprox
150 per month insurance and interior maintenance.TOTAL 4195 PER MONTH!!
And, this is based upon the Fed manipulating 30 year rates way below what it would be otherwise.
The question is, for what reason would anyone buy this? The only answer is the bubble mentality. The belief burnt into everyone younger than 45 that real estate goes up 10% plus per year on average. For what other reason would someone lock themselves into a situation where their monthly payments will be 50% higher all for the privilege of being unable to move when you want.
Yep, I know about the “tax advantage” of owning. But I also know that the tax advantage use to actually make owning CHEAPER than renting. Anyone else remember that? That was one of the big incentives of owning because housing never rose more than the inflation rate.
Massive declines to come or massive inflation to come, which one it is only the FED knows.
July 2, 2009 at 5:36 PM #424904ParticipantI am with you.
Check this out….MLS #: 090033059
It is listed for a bargain basement price of 525k and is currently rented for…..2485 a month.
With 3.5% down and 5.5% 30 year payment for principal and interest is 2980 a month.
2980 principal and interest
565 HOA fee monthly
500 tax per month aprox
150 per month insurance and interior maintenance.TOTAL 4195 PER MONTH!!
And, this is based upon the Fed manipulating 30 year rates way below what it would be otherwise.
The question is, for what reason would anyone buy this? The only answer is the bubble mentality. The belief burnt into everyone younger than 45 that real estate goes up 10% plus per year on average. For what other reason would someone lock themselves into a situation where their monthly payments will be 50% higher all for the privilege of being unable to move when you want.
Yep, I know about the “tax advantage” of owning. But I also know that the tax advantage use to actually make owning CHEAPER than renting. Anyone else remember that? That was one of the big incentives of owning because housing never rose more than the inflation rate.
Massive declines to come or massive inflation to come, which one it is only the FED knows.
July 2, 2009 at 5:36 PM #425068ParticipantI am with you.
Check this out….MLS #: 090033059
It is listed for a bargain basement price of 525k and is currently rented for…..2485 a month.
With 3.5% down and 5.5% 30 year payment for principal and interest is 2980 a month.
2980 principal and interest
565 HOA fee monthly
500 tax per month aprox
150 per month insurance and interior maintenance.TOTAL 4195 PER MONTH!!
And, this is based upon the Fed manipulating 30 year rates way below what it would be otherwise.
The question is, for what reason would anyone buy this? The only answer is the bubble mentality. The belief burnt into everyone younger than 45 that real estate goes up 10% plus per year on average. For what other reason would someone lock themselves into a situation where their monthly payments will be 50% higher all for the privilege of being unable to move when you want.
Yep, I know about the “tax advantage” of owning. But I also know that the tax advantage use to actually make owning CHEAPER than renting. Anyone else remember that? That was one of the big incentives of owning because housing never rose more than the inflation rate.
Massive declines to come or massive inflation to come, which one it is only the FED knows.
July 2, 2009 at 5:38 PM #424326sdrealtor
Participantsobmaz
SEH is a very nice master planned community in North County san Diego. Very desireable for young familes and depedning upon the tract what most would consider Upper Middle class and certainly no less than middle class. It was my listing.Comparisons to an intangible stock that provides nothing but a financial investment are a wee bit insincere. These are peoples homes where they will raise their families, make lifelong friends and create lasting memories. Those things create returns to homeowners that a stock investment never will.
July 2, 2009 at 5:38 PM #424559Participantsobmaz
SEH is a very nice master planned community in North County san Diego. Very desireable for young familes and depedning upon the tract what most would consider Upper Middle class and certainly no less than middle class. It was my listing.Comparisons to an intangible stock that provides nothing but a financial investment are a wee bit insincere. These are peoples homes where they will raise their families, make lifelong friends and create lasting memories. Those things create returns to homeowners that a stock investment never will.
July 2, 2009 at 5:38 PM #424840Participantsobmaz
SEH is a very nice master planned community in North County san Diego. Very desireable for young familes and depedning upon the tract what most would consider Upper Middle class and certainly no less than middle class. It was my listing.Comparisons to an intangible stock that provides nothing but a financial investment are a wee bit insincere. These are peoples homes where they will raise their families, make lifelong friends and create lasting memories. Those things create returns to homeowners that a stock investment never will.
July 2, 2009 at 5:38 PM #424909Participantsobmaz
SEH is a very nice master planned community in North County san Diego. Very desireable for young familes and depedning upon the tract what most would consider Upper Middle class and certainly no less than middle class. It was my listing.Comparisons to an intangible stock that provides nothing but a financial investment are a wee bit insincere. These are peoples homes where they will raise their families, make lifelong friends and create lasting memories. Those things create returns to homeowners that a stock investment never will.
-
AuthorPosts
- You must be logged in to reply to this topic.