San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May)

[sdrealtor]

FWIW, I fully expect that any buyer who has made an offer on one of my listings has done so on several others also. However, as soon as I get an approval I am finding more often than not that the 1st buyer hanging in there and when they dont there is another ready to jump in their bed.

[MisterMark123]

With unemployment increasing, Alt-A resets coming, rents going down, and interest rates going up, I don’t understand the panic that some feel to buy anything right now. Every professional economist that I’ve heard is forecasting a decrease in home prices through the end of this year, and then flat prices for the next year or two.

[MisterMark123]

With unemployment increasing, Alt-A resets coming, rents going down, and interest rates going up, I don’t understand the panic that some feel to buy anything right now. Every professional economist that I’ve heard is forecasting a decrease in home prices through the end of this year, and then flat prices for the next year or two.

[MisterMark123]

With unemployment increasing, Alt-A resets coming, rents going down, and interest rates going up, I don’t understand the panic that some feel to buy anything right now. Every professional economist that I’ve heard is forecasting a decrease in home prices through the end of this year, and then flat prices for the next year or two.

[MisterMark123]

With unemployment increasing, Alt-A resets coming, rents going down, and interest rates going up, I don’t understand the panic that some feel to buy anything right now. Every professional economist that I’ve heard is forecasting a decrease in home prices through the end of this year, and then flat prices for the next year or two.

[MisterMark123]

With unemployment increasing, Alt-A resets coming, rents going down, and interest rates going up, I don’t understand the panic that some feel to buy anything right now. Every professional economist that I’ve heard is forecasting a decrease in home prices through the end of this year, and then flat prices for the next year or two.

[capeman]

[quote=sdrealtor]And my point is that your average sd family doesnt have to spend that much. A $550K home is now a very nice home in a nice community that is affordable for the people that it should be. A few years ago it was a shack in the hood.[/quote]

My point exactly when comparing houses to imploding stocks. How are those people doing now who bought the $550K shacks in the hood?

A good portion of them may have lost their jobs since and with depreciation may have seen their down payments/savings/investments evaporate with no way out in case of relocating or keeping their “Shack”. You can’t relate housing as a dream and investment in a families future in this environment. It’s not assured but more likely than not a suckers rally in assets that could wipe out a whole other wave of suckers as has happened before the last time this kind of economic implosion occurred. I just hope like you say you realtors are informing otherwise emotionally charged and usually blinded buyers to what may happen. It’s unprecedented in our lifetimes what has been happening to asset prices and at least a cautionary warning given is appropriate when selling someone what could be a financial prison.

[capeman]

[quote=sdrealtor]And my point is that your average sd family doesnt have to spend that much. A $550K home is now a very nice home in a nice community that is affordable for the people that it should be. A few years ago it was a shack in the hood.[/quote]

My point exactly when comparing houses to imploding stocks. How are those people doing now who bought the $550K shacks in the hood?

A good portion of them may have lost their jobs since and with depreciation may have seen their down payments/savings/investments evaporate with no way out in case of relocating or keeping their “Shack”. You can’t relate housing as a dream and investment in a families future in this environment. It’s not assured but more likely than not a suckers rally in assets that could wipe out a whole other wave of suckers as has happened before the last time this kind of economic implosion occurred. I just hope like you say you realtors are informing otherwise emotionally charged and usually blinded buyers to what may happen. It’s unprecedented in our lifetimes what has been happening to asset prices and at least a cautionary warning given is appropriate when selling someone what could be a financial prison.

[capeman]

[quote=sdrealtor]And my point is that your average sd family doesnt have to spend that much. A $550K home is now a very nice home in a nice community that is affordable for the people that it should be. A few years ago it was a shack in the hood.[/quote]

My point exactly when comparing houses to imploding stocks. How are those people doing now who bought the $550K shacks in the hood?

A good portion of them may have lost their jobs since and with depreciation may have seen their down payments/savings/investments evaporate with no way out in case of relocating or keeping their “Shack”. You can’t relate housing as a dream and investment in a families future in this environment. It’s not assured but more likely than not a suckers rally in assets that could wipe out a whole other wave of suckers as has happened before the last time this kind of economic implosion occurred. I just hope like you say you realtors are informing otherwise emotionally charged and usually blinded buyers to what may happen. It’s unprecedented in our lifetimes what has been happening to asset prices and at least a cautionary warning given is appropriate when selling someone what could be a financial prison.

[capeman]

[quote=sdrealtor]And my point is that your average sd family doesnt have to spend that much. A $550K home is now a very nice home in a nice community that is affordable for the people that it should be. A few years ago it was a shack in the hood.[/quote]

My point exactly when comparing houses to imploding stocks. How are those people doing now who bought the $550K shacks in the hood?

A good portion of them may have lost their jobs since and with depreciation may have seen their down payments/savings/investments evaporate with no way out in case of relocating or keeping their “Shack”. You can’t relate housing as a dream and investment in a families future in this environment. It’s not assured but more likely than not a suckers rally in assets that could wipe out a whole other wave of suckers as has happened before the last time this kind of economic implosion occurred. I just hope like you say you realtors are informing otherwise emotionally charged and usually blinded buyers to what may happen. It’s unprecedented in our lifetimes what has been happening to asset prices and at least a cautionary warning given is appropriate when selling someone what could be a financial prison.

[capeman]

[quote=sdrealtor]And my point is that your average sd family doesnt have to spend that much. A $550K home is now a very nice home in a nice community that is affordable for the people that it should be. A few years ago it was a shack in the hood.[/quote]

My point exactly when comparing houses to imploding stocks. How are those people doing now who bought the $550K shacks in the hood?

A good portion of them may have lost their jobs since and with depreciation may have seen their down payments/savings/investments evaporate with no way out in case of relocating or keeping their “Shack”. You can’t relate housing as a dream and investment in a families future in this environment. It’s not assured but more likely than not a suckers rally in assets that could wipe out a whole other wave of suckers as has happened before the last time this kind of economic implosion occurred. I just hope like you say you realtors are informing otherwise emotionally charged and usually blinded buyers to what may happen. It’s unprecedented in our lifetimes what has been happening to asset prices and at least a cautionary warning given is appropriate when selling someone what could be a financial prison.

[sdrealtor]

Thos epeople that bought $550K shacks in the hood are long gone for the most part. Taken down in the subprime wave that alreadys truck or in the process of the same.

Capeman,
Buyers are well informed and tend toward conservative these days. They dont need realtors to inform them of what may happen nor is a realtors job to do so. Lenders ensure buyers are qualified and the loan process is very rigorous these days. With such a negative attitude to life and the world it must be difficult to get out of bed each morning. Fortunately most people do not live under such a dark cloud and that is what makes this country great. In the face of adversity people find a way to make it work and succeeed. I hate to throw out a cliche here but success comes in cans not cannots.

[sdrealtor]

Thos epeople that bought $550K shacks in the hood are long gone for the most part. Taken down in the subprime wave that alreadys truck or in the process of the same.

Capeman,
Buyers are well informed and tend toward conservative these days. They dont need realtors to inform them of what may happen nor is a realtors job to do so. Lenders ensure buyers are qualified and the loan process is very rigorous these days. With such a negative attitude to life and the world it must be difficult to get out of bed each morning. Fortunately most people do not live under such a dark cloud and that is what makes this country great. In the face of adversity people find a way to make it work and succeeed. I hate to throw out a cliche here but success comes in cans not cannots.

[sdrealtor]

Thos epeople that bought $550K shacks in the hood are long gone for the most part. Taken down in the subprime wave that alreadys truck or in the process of the same.

Capeman,
Buyers are well informed and tend toward conservative these days. They dont need realtors to inform them of what may happen nor is a realtors job to do so. Lenders ensure buyers are qualified and the loan process is very rigorous these days. With such a negative attitude to life and the world it must be difficult to get out of bed each morning. Fortunately most people do not live under such a dark cloud and that is what makes this country great. In the face of adversity people find a way to make it work and succeeed. I hate to throw out a cliche here but success comes in cans not cannots.

[sdrealtor]

Thos epeople that bought $550K shacks in the hood are long gone for the most part. Taken down in the subprime wave that alreadys truck or in the process of the same.

Capeman,
Buyers are well informed and tend toward conservative these days. They dont need realtors to inform them of what may happen nor is a realtors job to do so. Lenders ensure buyers are qualified and the loan process is very rigorous these days. With such a negative attitude to life and the world it must be difficult to get out of bed each morning. Fortunately most people do not live under such a dark cloud and that is what makes this country great. In the face of adversity people find a way to make it work and succeeed. I hate to throw out a cliche here but success comes in cans not cannots.

[Author]

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