Seeking the opinion of the buyers out there.

[jpinpb]

As far as brian’s comment about being house poor, it certainly would apply to anyone who bought close to peak’s value and today’s value, and probably a good ways into the future value.

flu – got your point. waiting for bottom, did I miss a thread that you bought or is this the announcement?

[an]

[quote=briansd1]
Look at how much time, most middle class folks spend maintaining and DIYing their houses.

Look at the condition of the houses that are 30 years old in Mira Mesa, Clairmont, etc.. (houses that you would think have been paid off).

I’m sorry, I’d rather be do something else with my free time and money.
[/quote]
There’s a huge spectrum. Especially in MM and other areas that don’t have HOA to force you to do things. People who are like you and don’t like to fix up your house, I see it pretty run down, but they’re still living in there. So they probably don’t spend that much time and $. Others, like me, love to modify/remodel our homes. It’s a joy/hobby. Hobby cost money, but it’s fun and fulfilling. I guess you’ll never understand that. How do you know those people who bought their house 30 years ago don’t have it paid off? I know a few people in MM who are w/in a few years of owning their house free and clear.

[an]

[quote=briansd1]
Look at how much time, most middle class folks spend maintaining and DIYing their houses.

Look at the condition of the houses that are 30 years old in Mira Mesa, Clairmont, etc.. (houses that you would think have been paid off).

I’m sorry, I’d rather be do something else with my free time and money.
[/quote]
There’s a huge spectrum. Especially in MM and other areas that don’t have HOA to force you to do things. People who are like you and don’t like to fix up your house, I see it pretty run down, but they’re still living in there. So they probably don’t spend that much time and $. Others, like me, love to modify/remodel our homes. It’s a joy/hobby. Hobby cost money, but it’s fun and fulfilling. I guess you’ll never understand that. How do you know those people who bought their house 30 years ago don’t have it paid off? I know a few people in MM who are w/in a few years of owning their house free and clear.

[an]

[quote=briansd1]
Look at how much time, most middle class folks spend maintaining and DIYing their houses.

Look at the condition of the houses that are 30 years old in Mira Mesa, Clairmont, etc.. (houses that you would think have been paid off).

I’m sorry, I’d rather be do something else with my free time and money.
[/quote]
There’s a huge spectrum. Especially in MM and other areas that don’t have HOA to force you to do things. People who are like you and don’t like to fix up your house, I see it pretty run down, but they’re still living in there. So they probably don’t spend that much time and $. Others, like me, love to modify/remodel our homes. It’s a joy/hobby. Hobby cost money, but it’s fun and fulfilling. I guess you’ll never understand that. How do you know those people who bought their house 30 years ago don’t have it paid off? I know a few people in MM who are w/in a few years of owning their house free and clear.

[an]

[quote=briansd1]
Look at how much time, most middle class folks spend maintaining and DIYing their houses.

Look at the condition of the houses that are 30 years old in Mira Mesa, Clairmont, etc.. (houses that you would think have been paid off).

I’m sorry, I’d rather be do something else with my free time and money.
[/quote]
There’s a huge spectrum. Especially in MM and other areas that don’t have HOA to force you to do things. People who are like you and don’t like to fix up your house, I see it pretty run down, but they’re still living in there. So they probably don’t spend that much time and $. Others, like me, love to modify/remodel our homes. It’s a joy/hobby. Hobby cost money, but it’s fun and fulfilling. I guess you’ll never understand that. How do you know those people who bought their house 30 years ago don’t have it paid off? I know a few people in MM who are w/in a few years of owning their house free and clear.

[an]

[quote=briansd1]
Look at how much time, most middle class folks spend maintaining and DIYing their houses.

Look at the condition of the houses that are 30 years old in Mira Mesa, Clairmont, etc.. (houses that you would think have been paid off).

I’m sorry, I’d rather be do something else with my free time and money.
[/quote]
There’s a huge spectrum. Especially in MM and other areas that don’t have HOA to force you to do things. People who are like you and don’t like to fix up your house, I see it pretty run down, but they’re still living in there. So they probably don’t spend that much time and $. Others, like me, love to modify/remodel our homes. It’s a joy/hobby. Hobby cost money, but it’s fun and fulfilling. I guess you’ll never understand that. How do you know those people who bought their house 30 years ago don’t have it paid off? I know a few people in MM who are w/in a few years of owning their house free and clear.

[briansd1]

[quote=flu]Never underestimate the financial state of your peers. Not everyone is financially “ruined” as the media would like to portray, though it’s much more convenient to think so.

(Still in search of positive cash flow properties)
[/quote]

Your peers will generally overstate their wherewithal. Just like your peers overstate how great their children are.

Now, I’m sure that there are plenty of rich people. Those people are not buying stucco boxes in suburbia.

With real estate, as with stock, it’s not the people who have the staying power to hold-on that determines the market price of all houses. The marginal sale of the next house determines the price of all similar houses.

[briansd1]

[quote=flu]Never underestimate the financial state of your peers. Not everyone is financially “ruined” as the media would like to portray, though it’s much more convenient to think so.

(Still in search of positive cash flow properties)
[/quote]

Your peers will generally overstate their wherewithal. Just like your peers overstate how great their children are.

Now, I’m sure that there are plenty of rich people. Those people are not buying stucco boxes in suburbia.

With real estate, as with stock, it’s not the people who have the staying power to hold-on that determines the market price of all houses. The marginal sale of the next house determines the price of all similar houses.

[briansd1]

[quote=flu]Never underestimate the financial state of your peers. Not everyone is financially “ruined” as the media would like to portray, though it’s much more convenient to think so.

(Still in search of positive cash flow properties)
[/quote]

Your peers will generally overstate their wherewithal. Just like your peers overstate how great their children are.

Now, I’m sure that there are plenty of rich people. Those people are not buying stucco boxes in suburbia.

With real estate, as with stock, it’s not the people who have the staying power to hold-on that determines the market price of all houses. The marginal sale of the next house determines the price of all similar houses.

[briansd1]

[quote=flu]Never underestimate the financial state of your peers. Not everyone is financially “ruined” as the media would like to portray, though it’s much more convenient to think so.

(Still in search of positive cash flow properties)
[/quote]

Your peers will generally overstate their wherewithal. Just like your peers overstate how great their children are.

Now, I’m sure that there are plenty of rich people. Those people are not buying stucco boxes in suburbia.

With real estate, as with stock, it’s not the people who have the staying power to hold-on that determines the market price of all houses. The marginal sale of the next house determines the price of all similar houses.

[briansd1]

[quote=flu]Never underestimate the financial state of your peers. Not everyone is financially “ruined” as the media would like to portray, though it’s much more convenient to think so.

(Still in search of positive cash flow properties)
[/quote]

Your peers will generally overstate their wherewithal. Just like your peers overstate how great their children are.

Now, I’m sure that there are plenty of rich people. Those people are not buying stucco boxes in suburbia.

With real estate, as with stock, it’s not the people who have the staying power to hold-on that determines the market price of all houses. The marginal sale of the next house determines the price of all similar houses.

[Nor-LA-SD-guy]

[quote=briansd1][quote=flu]Never underestimate the financial state of your peers. Not everyone is financially “ruined” as the media would like to portray, though it’s much more convenient to think so.

(Still in search of positive cash flow properties)
[/quote]

Your peers will generally overstate their wherewithal. Just like your peers overstate how great their children are.

Now, I’m sure that there are plenty of rich people. Those people are not buying stucco boxes in suburbia.

With real estate, as with stock, it’s not the people who have the staying power to hold-on that determines the market price of all houses. The marginal sale of the next house determines the price of all similar houses.

[/quote]

While that maybe true for most area’s I would point out the exception where prices are already so low you would need to have a gun pointed at the owners head before they would sell for what the foreclosure down the street sold for, then it’s just the next foreclosure that you would be comparing against (and at some point the foreclosure ride will be over).

I don’t think I can time that.

[Nor-LA-SD-guy]

[quote=briansd1][quote=flu]Never underestimate the financial state of your peers. Not everyone is financially “ruined” as the media would like to portray, though it’s much more convenient to think so.

(Still in search of positive cash flow properties)
[/quote]

Your peers will generally overstate their wherewithal. Just like your peers overstate how great their children are.

Now, I’m sure that there are plenty of rich people. Those people are not buying stucco boxes in suburbia.

With real estate, as with stock, it’s not the people who have the staying power to hold-on that determines the market price of all houses. The marginal sale of the next house determines the price of all similar houses.

[/quote]

While that maybe true for most area’s I would point out the exception where prices are already so low you would need to have a gun pointed at the owners head before they would sell for what the foreclosure down the street sold for, then it’s just the next foreclosure that you would be comparing against (and at some point the foreclosure ride will be over).

I don’t think I can time that.

[Nor-LA-SD-guy]

[quote=briansd1][quote=flu]Never underestimate the financial state of your peers. Not everyone is financially “ruined” as the media would like to portray, though it’s much more convenient to think so.

(Still in search of positive cash flow properties)
[/quote]

Your peers will generally overstate their wherewithal. Just like your peers overstate how great their children are.

Now, I’m sure that there are plenty of rich people. Those people are not buying stucco boxes in suburbia.

With real estate, as with stock, it’s not the people who have the staying power to hold-on that determines the market price of all houses. The marginal sale of the next house determines the price of all similar houses.

[/quote]

While that maybe true for most area’s I would point out the exception where prices are already so low you would need to have a gun pointed at the owners head before they would sell for what the foreclosure down the street sold for, then it’s just the next foreclosure that you would be comparing against (and at some point the foreclosure ride will be over).

I don’t think I can time that.

[Nor-LA-SD-guy]

[quote=briansd1][quote=flu]Never underestimate the financial state of your peers. Not everyone is financially “ruined” as the media would like to portray, though it’s much more convenient to think so.

(Still in search of positive cash flow properties)
[/quote]

Your peers will generally overstate their wherewithal. Just like your peers overstate how great their children are.

Now, I’m sure that there are plenty of rich people. Those people are not buying stucco boxes in suburbia.

With real estate, as with stock, it’s not the people who have the staying power to hold-on that determines the market price of all houses. The marginal sale of the next house determines the price of all similar houses.

[/quote]

While that maybe true for most area’s I would point out the exception where prices are already so low you would need to have a gun pointed at the owners head before they would sell for what the foreclosure down the street sold for, then it’s just the next foreclosure that you would be comparing against (and at some point the foreclosure ride will be over).

I don’t think I can time that.

[Author]

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